|Additionally, I just checked the latest NAV for Geiger Counter announced yesterday 8/12.
The stated NAV is 20.88p per share as at 7th. Dec.
So the recent rapid uplift in the prices of Cameco/Nexgen are most certainly already priced in and reflected in the latest NAV figures.
With a Geiger Counter share price around 18/19p mid-market, the share price is currently fully up with latest revaluations of Cameco/Nexgen allowing for a c.10% Discount to NAV.
Whilst the big uranium producers are having a great run of late, it is not necessarily the case for smaller companies in the sector, some of which have fallen recently.
Also uranium prices are still very low.
My money is firmly on the uranium majors at the moment.
To illustrate this point and by way of contrast, the NAV on Geiger as at 24th. Aug - some three months ago- was 23.13p per share. So Geiger's NAV has dropped from 23.13p to 20.88p per share in some three months.
It's the sometimes opaque investments in the smaller companies and varying exotic countries which make Geiger a very hard fund to value.
This is where you find daily NAV announcements for Geiger. They list them every day not on the London Stock Exchange but on the Channel Islands Securities Exchange.
Have a look. Hope this helps.
ALL IMO. DYOR.
|The point seems to be that the Big Boys (eg Cameco/Nexgen) of the sector have been shifting rapidly ( similar to the commodity majors rocketing from early in the year) and that the sector is evolving fast from multi-year lows.
ALL IMO. DYOR.
|QP - Nexgen up even more than this over the same period - and they're a much larger constituent of the fund than Cameco.
Time to add to GCL before it realizes..?|
|Cameco now up c. 40% since November and climbing fast.
That's telling you something.
ALL IMO. DYOR.
|Epstein Research likes Nexgen:
Great website for research by the way. Check it out|
Cameco now up 25% in less than a month from C$10 to C$12.50.
ALL IMO. DYOR.
I've updated some of the header info where appropriate, incl. the U-308 price, and added charts for U-Participation and Cameco (which has also had a useful past couple of weeks).|
|Good drilling results at Nexgen, and Purepoint also rising today.Should feed through to NAV shortly|
|This has been kept quiet but will have knock-on effects on the only 2 Japanese plant operational, all those mothballed and a lot of the French plant. Could impact others too as the word goes out for quality checks.
It's a problem. Yes, I know about the supply side changes vs future demand etc.
|Tried to pick up a few this morning but only able to buy at best will keep GCL on my watch list ,they all keep saying there must be an increase in the price of uranium soon with the number of new reactors being built .
Hopefully after I have picked up a few GCL.|
|Seems and hoping that Cameco may have bottomed.
Have taken good size in Cameco Corp (TSX: CCO).
|I've just read BP's 2016 Energy Outlook to 2035 - they are expecting Nuclear to take up an increasing share in future energy production - especially in China. A good read and quite a detailed breakdown of all energy sectors in geographic regions.|
|Institutional buying. They think things for U308 will change very soon.|
|1.5m at 21.5, jeez|
|This is doing surprisingly well considering the U308 price is continuing to fall.|
|This will have gone from a 40% discount to nav to a premium to nav
be-jeez, did one magazine tip do this LOL
my retirement fund
|More good grades from FCU. Yet the share price keeps dribbling southward....hTtp://fissionuranium.mwnewsroom.com/Files/14/146ba006-3689-4f59-8518-3ee4f6540947.pdf|
|Thanks Shavian & Dogberry - some good discussion going here.
The only problem buying GCL vs. the individual stocks is a fairly wide spread. For me, this is my first foray into Uranium (I've previously been an oily guy!) so the attraction for a package in a single buy makes sense, especially for a ltbh.
I've been trying to diversify away from oil, but keep coming back to resources (at this low point in the cycle) and energy in general for the long term.
I was introduced to CYN about 6 months ago, and then bought GPM for some gold exposure about 3 months ago. Currently all 3 are doing OK..|
|Going slightly OT, please bear with me, we uranium investors are presumably interested in nuclear energy. If so, we should perhaps be aware of a potentially critical supply shortage in another strategic material, high quality graphite. The coming trend in small nuclear reactors, including the projected "pebble bed" reactor will use "pebbles" of uranium coated in micronised graphite with purity levels exceeding 99.9%. There's plenty of ordinary graphite around (so we don't run out of pencils) but this large-flake graphite is much rarer, and is also in demand for lithium batteries, where the graphite content is many times higher than the lithium.
For those interested, the emerging high quality graphite suppliers seem to be Canadian. Have a look at Northern Graphite, Canada Carbon and Great Lakes Graphite for starters. The emerging technology around graphene is an extension of all this, and a UK company to be aware of here is Versarien (VRS). Disclosure: I have (very) small holdings in all of these out of curiosity in this emerging sector. Again, my apologies for going off-track, but it's all tied up with the future of Uranium imo.|
|Yes, Shavian, that's why I also hold some GCL - it includes Nexgen, Fission, Purepoint, Camaco, etc. They own some of the best of the uranium miners. Thanks for sharing Greenland Minerals. I'll look into them but I'm maxed out with everything else at present.
Good luck to you and everyone else who have bought in here with GCL.|
|Oh, I forgot another one I hold. I had bought some Greenland Minerals years ago for the Rare Earths but it is now recovering on the strength of uranium, having been cleared to mine it by the Greenland authorities.|
|Hi Dogberry. Thanks for this good post. The supply bottleneck is becoming more obvious, exacerbated by the drying up of ex-cold war weapon-grade plutonium.The key to North American supply clearly lies in the west of the Athabaska basin. You have mentioned Cameco, Fission and Geiger Counter's biggest holding, Nexgen. There's also Purepoint Uranium, next door to Nexgen. All of these seem to be coming back to people's notice. I was about to buy Nexgen and Purepoint to add to my Fission when I realised I could buy the lot in one discounted package with GCL, so I'm building up my stake here. Good luck all.|
Cameco Corp, Denison Mines and some Energy Fuels Inc..
I read an interesting 40 page report written last April by Rockstone Research who worked with ALX Uranium, the company that did a 80% ownership deal with Denison over the prospective Hook-Carter property last week. The property is close to the major discoveries by Nexgen and Fission. Cameco also have a property nearby.
One of the most interesting points is that although Uranium shortages are expected in 3 years (from April ) the lead-in times for contracts that need to be signed are far shorter at 18 months or so. This is because it takes this long to create the fuel rods for the reactors. As you know, the costs for buying enhanced uranium are relatively small in comparison with the overall running costs of running these plants. Yet officials must have secure supplies of enhanced uranium fuel, with some contracts taken out over time-scales as long as ten years. Contracts signed in 2007-8 are running out between now and next year. New contracts will be signed over the next year and a half. But uranium suppliers like Cameco will not enter longterm mining contracts for less than it costs to mine.
Once the uranium reserves currently finding their way into the market run out, the officals running these plants will be increasingly anxious to secure longterm supplies well before enhanced uranium becomes difficult to source. For the plants it increasingly feels like a "Mexican stand-off".|
|U mining is still highly political as this article shows. I wonder how this plays into the very slow price recovery?