TIDMGCL TIDMTTM
RNS Number : 7747A
Geiger Counter Ltd
24 January 2024
Geiger Counter Limited Plc
Monthly Investor Report - December
The full monthly factsheet is now available on the Company's
website and a summary can be found below.
NCIM - Geiger Counter Ltd - Fund Page for Geiger Counter Ltd
Enquiries:
For the Investment Manager
CQS (UK) LLP
Craig Cleland
0207 201 5368
For the Company Secretary and Administrator
BNP Paribas S.A., Jersey Branch
Dean Plowman/Ann-Marie Pereira
01534 813 967/ 01534 709198
-----------------------------------------------------------------------
Fund Description
The objective of the Geiger Counter Fund is to provide investors
with the potential for capital growth through investment primarily
in the securities of companies involved in the exploration,
development and production of energy, predominantly within the
uranium industry. Up to 30% of the value of the Company's
investment portfolio may be invested in other resource-related
companies from outside the energy sector.
Portfolio Managers
Keith Watson and Robert Crayfourd
Key Advantages for the Investor
-- Access to mining assets in the uranium sector
-- May benefit from embedded subscription share
-- Low correlation to major asset classes
Key Fund Facts (1)
Total Gross Assets GBP100.4m
Reference Currency GBP
Ordinary Shares:
Net Asset Value 67.07p
Mid-Market Price 54.00p
Net gearing 14.31%
Discount (19.49%)
Ordinary Share and NAV Performance (2)
One Month Three Months One Year Three Years Five Years
(%) (%) (%) (%) (%)
NAV 1.21 2.44 44.02 169.03 270.35
Share Price 0.93 3.85 26.32 100.00 164.71
Commentary (3)
The spot U3O8 price ended December at $91.50/lb, up 13.3% over
the month.
Symbolic of its ever more influential role in electricity
generation, nuclear power received
widespread endorsement from the COP 28 conference with an
international agreement to triple installed generating capacity by
2050. This boosted uranium price momentum into the calendar
year-end.
The passing of a US House vote to restrict the importation of
Russian-sourced material saw the bill progress through to the
Senate for consideration, potentially adding impetus to fuel
prices. However, equities did not keep pace with the uranium price
rise with the Fund NAV gaining 1.2% in December, similar to the
Solactive Uranium Pure Play Index sterling return.
During the month, Nexgen announced that it had received its
provincial environmental permits, the first company in more than 20
years to receive full provincial EA approval for a uranium project
in Saskatchewan. With all necessary First Nations benefits
agreements already in place, we believe the development of the
project has de-risked considerably. The issue of Federal permits,
which includes an official assessment of the Environmental Impact
Assessment by the Canadian Nuclear Safety Commission, and which is
expected to be issued later this year, represents the final step
required for the project's development. Permitting progress helped
lift the Nexgen share price by over 5% in sterling terms over the
month. Fission Energy, which owns the neighbouring Patterson Lake
project, rose by nearly 9% in sterling terms over the month.
Physically backed vehicles such as the Sprott Uranium Trust and
Yellow Cake also struggled to keep pace with the uranium price
rise, although both registered sterling returns of over 10% during
December. The Sprott Trust share price briefly exceeded its NAV
allowing it to purchase a modest 256k lbs of U3O8 during the month.
The main detractors to Fund performance were Cameco and Ur-Energy,
whose share prices slipped over 6.7% and 5.0% respectively in
sterling terms during December.
Gross Leverage Commitment Leverage
(%) (%)
Geiger Counter Ltd 115 115
CQS (UK) LLP
4th Floor, One Strand, London WC2N 5HR, United Kingdom
T: +44 (0) 20 7201 6900 | F: +44 (0) 20 7201 1200
CQS (US), LLC
152 West 57th Street, 40th Floor, New York, NY 10019, US
T: +1 212 259 2900 | F: +1 212 259 2699
CQS (Hong Kong) Limited
3305 AIA Tower, 183 Electric Road, North Point, Hong Kong,
China
T: +852 3920 8600 | F: +852 2521 3189
Tavistock Communications
18 St. Swithin's Lane, London EC4N 8AD
T: +44 20 7920 3150 | geigercounter@tavistock.co.uk
Sources: (1) R&H Fund Services (Jersey) Limited, as at the
last business day of the month indicated at the top of this report.
(2) R&H Fund Services Limited/DataStream, as at the last
business day of the month indicated at the top of this report,
total return performance net of fees and expenses based on bid
prices. These include historic returns and past performance is not
a reliable indicator of future results. The value of investments
can go down as well as up. Please read the important legal notice
at the end of this document. (3) Market data sourced from Bloomberg
unless otherwise stated. The Fund may since have exited some or all
of the positions detailed in the commentary.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DOCEANFLASALEEA
(END) Dow Jones Newswires
January 24, 2024 05:15 ET (10:15 GMT)
Geiger Counter (LSE:GCL)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Geiger Counter (LSE:GCL)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024
