Geiger Counter Share Discussion Threads

[bpdon] 04/4/2024 15:44

It does sound a bit mad @swanvesta when you think of it in those terms - sell cheap and buy high. You would presume too that one of the subscription offer outcomes the management desire is a growing MCAP and not a shrinking one. However, the discount just keeps getting worse and can't be ignored.

The NAV is being diluted by the issuance of the discounted subscription shares regardless of how the money is going to be used. The capital it raises has to be put to some use that is accretive to NAV. It will be interesting to see if they invest, run buy backs, bit of both.... or something else.

[swanvesta] 04/4/2024 15:24

Can someone explain the sense (hopefully there is some) behind the suggestion that cash raised from selling discounted shares be used to buy back full priced shares?

[bpdon] 04/4/2024 14:37

The undiluted NAV was just below 80p around mid January with the share price mid 60s at the same time (peaked about 68p). Undiluted NAV now over 80p and the share price is back to 55p. That performance delta is pretty big and widening. Hopefully it leads to some upside torque soon.

[jaf111] 04/4/2024 13:24

NAV now back to over 80p…..

[bpdon] 04/4/2024 11:42

Yes, I believe so @leading. From previous notice:

"Currently, the Company can issue up to Euro 8 million (£6.9 million as at the latest practicable date) of new Ordinary Shares at any Subscription Date (less any shares that may have been offered to the public in the UK in the previous 12 month period) without issuing a UK compliant prospectus."

[leading] 04/4/2024 11:28

bpdon - Does the €8m limit apply to this share issue? I can't see it mentioned in the documents. Getting scaled back is a pain of course.

[jimbox1] 04/4/2024 11:08

There will be some selling a portion of their holdings to fund the purchase of the new shares. This may be depressing the price.
There will be some selling the new shares after they have been allotted, to keep portfolio weightings in check.
This is clearly a time when a share buyback would be beneficial for all shareholders.

[greedfear] 04/4/2024 11:07

I had to add. The discount is surreal.

[bpdon] 04/4/2024 09:29

Yup, the discount is barmy again. It will be very interesting to see what management decide to do with the proceeds of the subscription offer. In 2022 the subs offer raised pretty much the max of 8M Euros (that's about 10% of MCAP). As they are in the money, I expect similar this year.

Some decent buy backs would be helpful short term and obviously accretive to NAV. But, as was mentioned above, I think the management also need to up their game and find sustainable ways to improve liquidity and haul in that discount.

[kaos3] 04/4/2024 08:13

bought a few after ages .... discount is just there to be taken advantage of. offering itself

[7kiwi] 04/4/2024 00:35

Powerful move in the miners again today and SPUT has raised cash two days in a row and stacked 100K lbs.

Ozzie stocks look like they have got off to a good start as well.

Time for the discount to NAV to start closing, surely.

[quepassa] 03/4/2024 19:30

1. Despite a market sell-off earlier this year, Geiger's top holding NEXGEN is making NEW ALL-TIME HIGHS at US8.75.

2. Mega Uranium not yet up with events.

[jaf111] 03/4/2024 15:46

I doubt it’s an error….NXE and CCO have had strong gains and latest NAV covers both Monday & Tuesday….plus £ has weakened…..

[swanvesta] 03/4/2024 15:12

Looks like an error. Or did NAV really jump around 10% yesterday?

[jaf111] 03/4/2024 15:03

Look at the latest NAV…..ridiculous discount!!!

[7kiwi] 03/4/2024 14:39

I will make my decision soon. Hopefully, the new owners of the group can improve marketing and close the NAV gap.

[bmcb5] 03/4/2024 12:32

I've subscribed for 97% of my rights from available cash. Would much prefer it if they dropped this ridiculous scheme

[bigalan3] 02/4/2024 09:10

Thank you. I meant one for five.

[7kiwi] 02/4/2024 08:36

Big Al,

The offer is active now. And it's one for five, not five for one. See RNS 27/3.

[bountyhunter] 02/4/2024 08:28

Active? ..and I think you mean 1 for 5 not 5 for 1!

[bigalan3] 02/4/2024 08:06

When is the 5 for 1 offer active?

[7kiwi] 01/4/2024 18:33

The miners seem to have come back from Easter in a party mood. Maybe something to do with the reported floods in Kaz. Who knows whether the water will impact KAP's operations, but they might disrupt general transportation around the country.

[bpdon] 28/3/2024 10:45

I think the 40% quoted will be based on the undiluted NAV. The fully diluted NAV (65p) is 30% higher than the current mid-price (50p).

[dickiehhh] 28/3/2024 10:24

Why 40percent?

[donald pond] 27/3/2024 19:27

Yes. If it was wound down we would all get a 40% uplift. In an era of ETFs I fear GCL has served its purpose.