Geiger Counter Share Discussion Threads

[bmcb5] 18/6/2024 15:29

Just bought a few more @49.5

[bpdon] 12/6/2024 13:16

Yeah, the buy backs have been mopping up roughly a quarter of the 30 day average daily volume. Clearly not enough in the face of a sector that just keeps dripping down at the moment.

A lot of charts are looking quite ugly and the 2024 GCL NAV high of circa 80p and share price of 68p feels like an eternity ago now. Performance has at least tracked URNP quite closely over the last month (small consolation).

[steve73] 12/6/2024 12:19

Looks like they overpaid for yesterday's buy-backs...

I thought buy-backs are supposed to support the share price .?

[leading] 10/6/2024 11:55

Thanks for the write up Donald.

That's an interesting point about how ETF's might behave in a stress scenario. I suppose they either trade at a discount or will be gated. We shall see (maybe).

My view is that the discount will narrow considerably when uranium has another run. The company should just continue with buybacks at these discounts. There is an annual continuation resolution as an ultimate sanction.

Last time I looked, the company is well represented in North American producers and I think that is the right place to be. The US government, never shy of protectionism, is pushing for US names to get into production as they have a real national security vulnerability here, being the largest consumer with virtually no indigenous production recently.

For myself, I have a roughly even exposure to the miners through GCL and to the metal through YCA. I am happy for GCL to concentrate on exposure to the miners accordingly.

[kaos3] 10/6/2024 08:19

what percentage outperformance is gcl having over etf...

trustees should be paid for outperformance only - including adm costs

dp - thank you

[donald pond] 10/6/2024 08:13

Thanks. He was limited in what he could say in that buybacks are a matter for the board, and when I met him they had resolved but not announced the new buybacks.Rob was aware and we spoke about the options but I'm not convinced there is much they can do beyond buybacks and perhaps tinkering with the subscription shares (though we didn't really discuss this). They could do more marketing, but the wealth management sector has limited interest in investment trusts, and when you look at TRR, you see that in the current market there's little reward for marketing effort. I think GCL needs both the sector and one of its holdings to go on a tear tbh.

[bpdon] 10/6/2024 08:03

Thanks for the post, @donald. It’s a great article that covers a lot of ground and makes many salient points. It's also fantastic that Robert Crayfourd was happy to give you his time which has helped you hold your conviction with GCL.

Your post perfectly articulates the frustration with the discount opening and the opportunity it presents. Although you imply that Mr. Crayfourd agreed with you, did he express any sense of urgency or desire to address it?

[7kiwi] 09/6/2024 22:36

Good write up Donald.

However, I think you mean Yellowcake not Yellowstone. And the 100m lb gap is much wider than half of supply (140m lbs), but about half of demand.

I think the other point to note is that in the event of a wide market downturn, the discount will likely widen further.

[donald pond] 09/6/2024 12:18

Finally got around to writing it all up. Became a bit longer than intended, lols!

[bpdon] 07/6/2024 13:59

Haha. Mine too @lc. Sounds like there are a few looking forward to your insightful post when you have some time @donald.

[lcwanderer] 07/6/2024 11:14

Your dog gets longer walks than mine Donald.

[donald pond] 03/6/2024 08:57

Yes, just been a bit busy. I'll scribble some notes after the dog walk

[bpdon] 03/6/2024 08:30

Hi @donald pond. Are you still hoping to share some commemts from your meeting with Robert Crayfourd?

[7kiwi] 30/5/2024 16:26

Another buyback yesterday and a correction to the shares in issue.

[bpdon] 30/5/2024 10:17

Yup. Fairly meaningless buy back too @kiwi. £100K worth.

[7kiwi] 29/5/2024 16:59

As predicted, they're now buying back shares at a much higher price than they just issued them in the subscription rights.

Looks like the number of shares in issue is a bit dodgy too. They previously announced 144m, now down to 125m.

Here's the earlier announcement of 144.2m shares.



The administrators are not competent.

[greedfear] 29/5/2024 09:22

Worst heading ever.

[energiser01] 29/5/2024 09:20

No more “explosions221; please

[steve73] 29/5/2024 06:18

Good report...

[greedfear] 28/5/2024 14:52

Cheers Donald, appreciate it!

[donald pond] 28/5/2024 14:31

Yes I did and I will give a full write up in a couple of days. I'm in London for an AGM and Robert kindly fitted me in at short notice. I'll aim to give a fuller summary on Thursday.

[bpdon] 28/5/2024 14:26

Good to hear @donald. I am very interested to hear if you used the opportunity challenge Mr Crayfourd regarding the discount?

[donald pond] 28/5/2024 12:58

I had a long meeting this morning with Robert Crayfourd, one of the managers of GCL. He was very knowledgeable and I certainly came away feeling positive about my investment here. Given the annoying discount at the moment, it is easy to forget how good the long term NAV performance has been: 250% over 5 years is excellent in anyone's book.