Share Name Share Symbol Market Type Share ISIN Share Description
Geiger Counter LSE:GCL London Ordinary Share GB00B15FW330 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 20.40p 20.30p 20.50p - - - 0 06:36:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.0 -0.2 -0.3 - 15.42

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Date Time Title Posts
14/2/201809:05Geiger Counter Limited709
07/10/201616:30Geiger Counter - Uranium Fund1,538
20/12/201208:59Geiger counter84
10/1/201108:10Geiger Counter24
21/2/200714:34Geiger Counter with Charts & News8

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Geiger Counter (GCL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-02-19 15:06:3320.503,892797.86O
2018-02-19 14:14:2720.5025,0005,125.00O
2018-02-19 08:20:2320.455,0001,022.50O
2018-02-19 08:12:1920.452,933599.80O
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Geiger Counter (GCL) Top Chat Posts

Geiger Counter Daily Update: Geiger Counter is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker GCL. The last closing price for Geiger Counter was 20.40p.
Geiger Counter has a 4 week average price of 19.80p and a 12 week average price of 19.80p.
The 1 year high share price is 31.25p while the 1 year low share price is currently 17.38p.
There are currently 75,584,492 shares in issue and the average daily traded volume is 118,061 shares. The market capitalisation of Geiger Counter is £15,419,236.37.
kenmitch: ronconomics GCS can go in to ISAs and mine are in my ISA. Your broker should know that subscription shares can go in to ISAs but warrants (even though exactly the same thing except in name) can't. I added to mine at 4.5p and then 6p. Fact is, technically GCS are now very overvalued, and even more so as the gains are while the share price is falling! BUT there are two ways of looking at the valuation. IF optimistic that the share is going to soar in time, then current price will look a bargain. e.g share price £1 and GCS worth at least 70p. BUT if no uranium rally and best the share can manage between now and end of 2020 is around 40p then GCS only worth 11p at 2010 exercise price. So at 40p share would do just as well or even a tad better than GCS. Also at current share price GCS is all time value,
kenmitch: Thanks. fwiw. NAV down today to 23.8p so GCL is still at a premium. Good chance share will go to a discount again, as until buying to get the free subs, GCL has normally trade at a discount. I’ve sold GCL as unless NAV rises GCL price likely to drift lower short term, assuming some more temporary selling, as has happened today. imo best way to play the upside is via the sub share GCS. But again short term GCS could also go lower. EDIT. Note. UEM is 220p to sell. So UEMS (worth 37p) is a bargain at 29.2p to buy. Also GHE and GHW on good run and up again today. GHW now 85p - 95p. FASS. Share up to 393p. FASS will go up fast if current good run continues. Horrible spread though. i.e. Worth keeping an eye on other good value sub shares and warrants too.
kenmitch: Mustbefunny. You're obviously struggling a bit with understanding warrants and sub shares. Pricing them is simple arithmetic. For simplicity I've rounded up or down the exercise prices. To work out what the subs are worth just deduct the exercise price from the share price. So currently with share price below all 3 exercise prices the sub shares only have time value as already explained by Que Passa. NOV 2018 exercise price is 25p. So if share goes to 50p GCS would be worth 25p. NOV 2019 exercise price is 26p. So if share goes to 50p GCS would be worth 24p. NOV 2020 exercise price is 29p. So if share goes to 50p GCS would be worth 21p. And if share reaches £1 by Nov 2020 then GCS is worth 71p. Note that these days the few remaining warrants and sub shares tend to trade below what they are worth and so are bargains for anyone who is confident the share prices will rise. (I posted the prices for the other warrants and subs in post 646. Already Gresham House warrants have risen from 75-80p then to 80-90p on tiny rise in share price). BUT it also means GCS could well end up being far too cheap too. e.g if share gets to 35p some time next year then GCS would be worth 10p and more than double current GCS buy price, BUT it may well be possible to buy for less than 10p and the sell price could be well below 10p. And yes, when the subs are exercised that hits the NAV. At some point the Trust is likely to give two NAV figures with the "fully diluted" figure being the one covering the subs being exercised.
kenmitch: I also expected the share to return to a discount once ex sub, but against that NAV could increase a lot further so even if back to a discount share might hold up or increase. A subscription share offer is like a disguised rights issue. If all the subs are exercised the Trust will end up with around £10 million. Very useful to them as costs of getting sub offer up and running were only around £100,000. Can't fathom Mustbefunny's reasoning. IF the shares do well over next 3 years it is win, win win. A win for the Trust who get £10 million. A win for shareholders if share goes up 4 fold to £1. A win for holders of GCS as their value will rocket over 20 fold from current 3p to sell to around 70p. Yes there is more incentive to buy the subs than the shares as they will go up much faster BUT it is often difficult to trade the subs in any size. Last time I held a mix of sub shares and shares and will do so this time. Have bought a few more at 4.5p but hoping they get a bit cheaper before adding more. Also if the share price turns down it can be very difficult selling the subs in any size and often to get rid of them it's at a price well below the quoted sell price, so unless able to afford exercising, building a very large sub shares holding is risky. Another sub negative that will put some off is the often wide spread. The last lot of subs were a great success all round. We were posting about them here around 1p and they soared nearly 60 fold in a few months. Can't see how sub shares "not very attractive," with gains like that! Note though that the last lot of Golden Prospect sub shares ended up worthless. They made the big mistake of issuing them after a very good run and with NAV and share price just about at the peak. It's essential for Trusts to issue them at opportune time. Though it would have been better if GCS offer had been sooner when NAV at rock bottom, the timing still doesn't look too bad with plenty of NAV upside to come IF uranium bulls are right at last. Finally for anyone not clear about this; there is no need to exercise. The subs cab be traded at any time.
kenmitch: Yes, flying start for uranium shares today with Nexgen up 12%. Cameco is up 16%! Hope this continues, to allow NAV to catch up with share price EXCEPT that the higher the NAV on Dec 13th the higher the exercise prices. The lower the exercise prices the better, and ditto for Golden Prospect. e.g at current NAV, exercise prices will be around 25-26p for 2018 expiry, 26-28p for 2019 and 29-30p for 2020. Target modest 50p share price in time (if only modest uranium rally)and sub would be worth 20p for 2020 exercise price. If it starts around 3p then 6 or 7 bagger. But if NAV soars this week then much higher exercise prices would reduce that gain for a 50p share price a lot.
kenmitch: Que Passa The current extraordinary premium to NAV might or might not be because of the free sub share issue. BUT then how do you explain away the fact that the same is not happening with Golden Prospect new issue subscription shares? GPM NAV is 37p and share is 32p so unlike GPM currently at a significant discount to NAV?. As explained in the previous post a new warrant issue doesn't usually have much effect on the share price but perhaps GCL is an exception as it is thinly traded. IF current NAV premium is because of new sub shares then yes, a good chance that GCL will revert to NAV or a discount. Tempting to sell if that is going to happen, miss out on the free subs, and then buy the subs once they start trading, if at a fair price. BUT risk of another little run for uranium shares before ex date, and missing out on that if selling now, so not an easy decision. 3p is too high a starting price. 1.25p would give a CFP of around 10% so that's about right, but market makers often price new issues incorrectly so GCL could well start overvalued, and even as high as 3p. Don't know how you got the idea that I was comparing UEMS with GCLS. I was simply pointing out what good value UEMS were and trading at a discount. BUT warrants and sub shares have often traded at discounts for months and even sometimes years on end, again because of lack of knowledge on how to price them correctly. And UEMS has been at a sometimes very large discount for ages. UEM and UEMS are both up today. My guess fwiw is that both GCL and GPM will start higher than 1.25p. Coincidentally a bit over 1p is also fair value/CFP10% for GPMS.
kenmitch: It’s very unlikely that recent share price rise is the market pricing in the likely starting price of the subscription shares. Subscription shares and warrants are rarely issued now but used to be commonplace for Investment Trusts. Announcement of a new warrant issue rarely saw the share price move up for an existing Trust. Also the mechanics of how to price subscription shares (eg CFP) is often little understood by market professionals let alone amateurs. Indeed because they are so little understood glaring pricing mistakes are common for the very few left. E.g currently UEMS (Utilico Emerging Markets sub shares) are at far too low a price and have been for months. Exercise price is 183p ( but final expiry date very close at end of Feb) and UEM is 217p to sell. So UEMS is worth 34p but can be bought for 30p. So not only is there nothing extra to pay for the remaining time value, but UEMS is at a 4p discount. So if confident UEM share price can rise, and currently it is at bottom of recent trading range, then UEMS is a strong buy. And there is a trustee to exercise lapsed sub shares for those who don’t want to or can’t afford to exercise. e.g If UEM can rise 10% to 240p then UEMS worth 57p compared with 30p buy price today. Back to GCL sub shares;there is a negative effect on NAV but only if/when the sub shares are exercised. But the big plus is that the Trust gets £millions of new money to invest when all the subs are exercised. And I’ve checked with the Trust and though no provision for a trustee to exercise lapsed sub shares is in the listing document there will be one if the subs finish in the money. And yes; if the shares do well the sub shares will do far better. The last GCL sub shares could be bought for less than 1p just before the last big uranium rally and the sub price went up 60 fold in a few months while the share only doubled. So great fun could be had with both GCL and GPM.
dogberry202000: QP I agree. Possibly the biggest drivers of the GCL share price at the moment are the subscription shares and the prospects of a price recovery, gradual or otherwise, in Uranium. I have no answer to this but I've sometimes wondered whether closed end funds like GCL, particularly at key turning points in their markets, just passively react to price changes in their holdings or anticipate them. Recently, with the announcement of the subscription shares it seems to have been the latter. Could GCL be a leading indicator? There must be a decent sized investor base here always doing their research and/or in possession of key information. I suppose, time will tell. Still, the range of holdings are attractive, compared with say URA which is heavily weighted with the leader of the sector, Cameco Corp, and you get a good mix of companies with decent prospects that could rise by over 100 fold in a bull market.
jimbo55: Been curious to understand what has been driving the GCL share price in the UK over the last week since the underlying predominantly US and Canadian-listed stocks have barely moved (nor has the US-listed URA ETF). Jumped on here to check the postings and can see it's likely that Questor article. It doesn't take much coming into these companies or this trust to move these share prices, and given how brainless the buying is (given the lack of movement in the underlying stocks), I'd already reasoned it had to be PI-based as no institution or hedge fund would be this stupid when buying this. For anybody who owns this and has the capability to purchase North American stocks, there's an arbitrage opportunity approaching over the next week or two to switch into these companies from GCL. For anybody who can't do this, this is a spike to sell into. I have little doubt there will be a chance to pick these up more cheaply in August. Obviously, if GCL is tipped further by the likes of Moneyweek or the Investors Chronicle over the next week or two, this could change. However, if I don't see the underlying stocks moving it's a speculative rather than a fundamental move, and therefore won't last.
papillon: Don't believe posters, believe the share price! Unfortunately the GCL share price has been in a downtrend since the high of circa 33p earlier this year. Lower highs and lower lows! I can't predict the future share price (unfortunately!!), but a retest of the low of circa 11p early in 2016 seems possible. bwtfdik?
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