Geiger Counter Share Discussion Threads

[p1nkfish] 05/5/2014 15:32

They asked for and got a change in remit to invest elsewhere. They did so and screwed it up. Ausgold - of all companies. Very risky, small and flaky.

They could have wound up then and looked to come back when the way was clearer.

They have conflicting interests and shareholders don't seem to come first.

First is the survival of their management of the fund to maintain fees. Doing what was best for the shareholder is not always what is best for them and they put #1 first.

[jimbo55] 05/5/2014 13:34

All they could have done would have been to short Uranium stocks in a size large enough to offset some of the losses in their long positions, and that assumes they could have borrowed in the size needed to do so. They would also have required a crystal ball to see the Fukishima disaster coming (remember that the reactor coolant failure issue with the explosion occurred over a weekend, and on the Monday morning, anybody holding Uranium miners took an immediate 30% or greater loss).

Remember that this is a trust that exists primarily to invest in Uranium miners.What should they have done to hedge themselves when their sector got sledgehammered following the biggest nuclear disaster since Chernobyl?

[p1nkfish] 04/5/2014 13:40

If you know the history you know they gave themselves the mandate to diversify. The feable attempt they made with likes of Ausgold was poor to say the least, some might say totally inept. They could have cut the management fee to help, they didn't because this is a gravy train.


New management needed or consideration of winding down and a return to shareholders.of whatever is left over.

Management are supposed to add value in excess of their cost. This is not an alien concept. They have not done so for years.

[jimbo55] 04/5/2014 06:05

So how do you think they should have extracted value out of an entire set of stocks that fell pretty much altogether, across the board?

[jimbo55] 03/5/2014 16:45

To be fair to them p1nkfish, the market for Uranium has been pretty naff since Fukishima. Nothing last forever though...

[p1nkfish] 01/5/2014 07:32

Cutting the 1.5% will help.
They have added ZERO value.
Low cost etf worth considering.
They can't forever point at the market.
Only time they decided to diversify to agold miner was Ausgold.
Look what happened there.

[peterbill] 30/4/2014 23:55

Thanks energiser

This does look like a low point for GCL ... I see that management have taken a pay cut ... wonder what the cash burn/debt rate is?

[energiser01] 30/4/2014 09:22

Peterbill,

You can get the latest from the monthly fact sheets @

but its only the top 5 unfortunately. You may have to go in via the ncim home page as there's a confirmation page on which you have to select an option on usually to confirm your interest.

dyor etc....

[peterbill] 30/4/2014 03:26

Found it ...

pages 22/23

[peterbill] 30/4/2014 02:39

Has anyone an uopdated link to the top ten holdings and %'ges?

Thanks.

[mrx9000] 21/4/2014 22:26

Not so bad, these things can happen... what is good is that we know that these holdings are pretty substantial. In my view this notifiable holding is good news.

[p1nkfish] 17/4/2014 21:15

No increase. They didn't account for it properly. Read it carefully. Not a good sign. Something underhanded or just incompetent?

[tonsil] 17/4/2014 11:09

so Lockwood is very bullish on GCL surely a good thing that he has increased his holdings?

[p1nkfish] 16/4/2014 17:33

see yesterdays rns.

[tonsil] 16/4/2014 09:05

pinkfish - please explain your opaque comment

[p1nkfish] 16/4/2014 00:07

Now they don't know what holdings a manager was sitting on.
May have been shorting for all they know.
Not too good, is it?

[tonsil] 13/3/2014 14:13

from latest fact sheet

1 Fission Uranium 11.5%
2 Uranium Participation 10.9%
3 Denison Mines CAD 10.1%
4 Cameco CAD 9.6%
5 Uranium Energy 7.1%
Top 5 Holdings Represent 49.2%

[tonsil] 13/3/2014 14:08

Cameco (CCJ) (TSX: CCO) (NYSE: CCJ) announced today that ore production has begun at the Cigar Lake uranium mining operation in northern Saskatchewan.

The mining system and underground processing circuits are operational and ore is being transported to the McClean Lake mill operated by AREVA Resources Canada Inc. which is located 70 kilometres northeast of the minesite.

"Cigar Lake is among the most technically challenging mining projects in the world," said Tim Gitzel, president and CEO of Cameco, the operator and 50.025% owner of Cigar Lake. "The start of ore production is a tremendous achievement and I want to thank the many hundreds of people who helped to bring this exceptional orebody into production.

"Uranium from Cigar Lake is expected to fuel clean electricity production around the world for many years while providing quality employment and business opportunities for a generation of Saskatchewan people."

The McClean Lake mill is expected to begin processing the ore to uranium concentrate by the end of the second quarter of 2014. The mill is expected to produce between 2 million and 3 million pounds of uranium concentrate in 2014 and ramp up to its full production rate of 18 million pounds by 2018.

As at December 31, 2013, the total capital cost of the Cigar Lake project was estimated at $2.6 billion. Up to 1,000 people worked at the site during construction and the mine will employ more than 600 highly-skilled workers during operation. The majority of the workers are residents of Saskatchewan's north.