RULE 24f-2 NOTICE
BLANCHARD PRECIOUS METALS FUND, INC.
Reg. No. 33-16755 June 27, 1995
The fiscal year for which this Notice is being filed ended
April 30, 1995.
There are no securities registered during such fiscal year
other than pursuant to section 270.24f-2. There were no
securities of the same class or series which had been registered
under the Securities Act of 1933 other than pursuant to Section
270.24f-2 which remained unsold at the beginning of such fiscal
year.
There were 9,822,619 shares sold during such fiscal year.
There were 9,822,619 shares sold during this fiscal year in
reliance upon registration pursuant to section 270.24f-2. The
aggregate sale price of these shares was $81,070,800. There
were 8,527,815 shares repurchased or redeemed during such
fiscal year. The aggregate redemption price of these shares was
$68,288,186.
Calculation of the required fee is as follows (pursuant to
Section 6(b) of the Securities Act of 1933):
$81,070,800. Aggregate sale price of shares
sold during fiscal year
$68,288.186. Aggregate redemption price of
shares repurchased or redeemed
during fiscal year
($12,782,614) /.0029
$4,407.80 Total fee due with this Notice
No redeemed or repurchased shares have been previously
applied by the issuer pursuant to Section 270.24e-2(a) in filings
made pursuant to section 279.24e-1 of the Investment Company Act
for such period.
This Rule 24f-2 Notice is accompanied by the required
opinion of counsel furnnished by Kramer, Levin, Naftalis, Nessen,
Kamin & Frankel legal counsel to the issuer.
The amount of $4,407.80 covering the fee for fiscal year
April 30, 1995 was wired on Friday June 23, 1995.
/s/ Robert Anderson
Vice President
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9100
June 27, 1995
Blanchard Precious Metals Fund, Inc.
41 Madison Avenue
24th Floor
New York, NY 10010
Re: Blanchard Precious Metals Fund, Inc.
Registration No. 33-16755
Gentlemen:
We have acted as counsel to Blanchard Precious Metals
Fund, Inc., a Maryland corporation (the "Company"), in connection
with the public offering of the Company's shares of Common Stock,
par value $.001, and on various other securities and general
corporate matters. We understand that, pursuant to Rule 24f-2
under the Investment Company Act of 1940, the Company has
registered an indefinite number of shares of Common Stock under
the Securities Act of 1933. We further understand that, pursuant
to the provisions of Rule 24f-2, the Company is filing with the
Securities and Exchange Commission the Notice attached hereto
making definite the registration of shares of Common Stock, (the
"Shares) sold in reliance upon Rule 24f-2 during the fiscal year
ended April 30, 1995.
We have reviewed, insofar as it relates or pertains to
the Company, the Company's Registration Statement on Form N-1A
filed with the Securities and Exchange Commission under the
Securities Act of 1933 and the Investment Company Act of 1940, as
amended to the date hereof, pursuant to which Shares were sold
(the "Registration Statement"). We have also examined originals
or copies of such documents, corporate records and other
instruments we have deemed necessary or appropriate for the
purpose of this opinion. For purposes of such examination, we
have assumed the genuineness of all signatures and original
documents and the conformity to the original documents of all
copies submitted.
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Blanchard Precious Metals Fund, Inc.
June 27, 1995
Page 2
We are members only of the New York Bar and do not
purport to be experts on the laws of any other state. Our
opinion herein as to Maryland law is based upon a limited inquiry
thereof which we have deemed appropriate under the circumstances.
Based upon the foregoing, we are of the opinion that the
Shares have been duly and validly authorized and, assuming that
the Shares have been issued and sold in accordance with the
Company's Articles of Incorporation and Registration Statement,
and that the consideration received therefor was not less than
the par value thereof, the Shares which the Rule 24f-2 Notice
attached hereto makes definite in number were legally issued,
fully paid and non-assessable.
We consent to the filing of this opinion with the
Rule 24f-2 Notice attached hereto.
Very truly yours,
/s/ Kramer, Levin, Naftalis,
Nessen, Kamin & Frankel
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