Share Name Share Symbol Market Type Share ISIN Share Description
Geiger Counter Limited LSE:GCL London Ordinary Share GB00B15FW330 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 17.05 53,571 08:00:00
Bid Price Offer Price High Price Low Price Open Price
16.60 17.50 17.05 17.05 17.05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.11 -0.24 -0.29 15
Last Trade Time Trade Type Trade Size Trade Price Currency
14:59:23 O 28,571 17.50 GBX

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Date Time Title Posts
22/6/202021:47Geiger Counter Limited1,332
07/10/201617:30Geiger 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 Daily Update: Geiger Counter Limited is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker GCL. The last closing price for Geiger Counter was 17.05p.
Geiger Counter Limited has a 4 week average price of 16.15p and a 12 week average price of 14.55p.
The 1 year high share price is 20.70p while the 1 year low share price is currently 9.60p.
There are currently 90,601,611 shares in issue and the average daily traded volume is 144,971 shares. The market capitalisation of Geiger Counter Limited is £15,447,574.68.
kenny: I do not understand the point of investing in this fund. I see two big negatives, namely: 1. It does not pay a dividend, and 2. Every time the share price goes up, the company issues tons of new shares. The share price is well below where it was 5 years ago, so buying here just enriches the managers and maintains their ability to collect fees, year after year. The managers have no policy to control the discount to NAV via buybacks because that would reduce the size of the fund that they can collect fees on.
jonwig: re post #975 - it would be more meaningful to overlay the GCL share price with the spot U price (USD/lb at start of year): 2015 - 36 2016 - 34 2017 - 22 2018 - 24 2019 - 29 Source; Https:// So I'm not sure what point you're making unless it's that uranium investments haven't been great.
kenmitch: strategic tout You're right. Anyone exercising, and in so doing paying far more for the share than they would pay if just buying in the market, has zero understanding of warrants and subscription shares! They probably saw the exercise opportunity reminder and just assumed it was a good thing to do. btw.. for any who don't know. Subscription shares and warrants are exactly the same! BUT if called a warrant they cannot go in to ISAs but if called a subscription share they can. Crazy. There are very few warrants and subscription shares left unfortunately. In recent years the few remaining ones (including Gresham House warrants, Ground Rents Income warrants and Fidelity Asian Subscrition shares) have been available at bargain prices with no extra to pay for time value and sometimes they have traded for months at a discount. So bearing that in mind Geiger Counter sub shares look overvalued and anyone looking to buy can wait until Geiger Counter NAV and share price start moving up. (But will that ever happen or in time for the sub shares to rocket?). There have been so many false dawns. The previous Geiger Counter sub shares expired just ahead of the Japan earthquake and tsunami and went up 60 fold in a few months and were my biggest ever warrant winner.. Still time for the current subs to go up a lot, but very unlikely to match the last ones which could be bought for under 1p before rocketing and often doubling day after day. btw.. though they are overvalued, I do hold some Geiger Counter subs, mainly my free ones and a small top up. I also hold very good value Fidelity Asia Investment trust subscription shares which expire in November next year. These will rocket IF NAV and share price rise further. e.g current share price is 415p. Exercise price is 393p. So FAS are currently worth 22p and current buy price is 22p. If the share can rise 10% by next November to around 435p then FAS will be worth 42p and almost double the current 22p buy price. And I hold Ground Rents Income warrants. These last until August 2022. Again there is nothing extra to pay. Exercise price is £1 and current share price £1.10 and the warrant buy price is 10p. So target a 10% share price increase any time between now and August 2022 and GRIW will double. And if share can go up 20% GRIW will triple.
greedfear: “The Investment Manager is entitled to a performance fee at the rate of 20% of outperformance above an 8% per annum hurdle with high watermark provisions.” Some people seem to be a little concerned about the 20% outperformance fee. Well, they shouldn’t. In fact they should hope that the fund would have to pay out such a fee. Because of the high watermark provision an outperformance fee would only be due when the share price exceeds 97p (sp per 30-9-2007, first time an outperformance fee was due). Probably the share price would even have to exceed 126p because of the 8% performance hurdle (50p x 1.08^12). In short, I really, really hope an outperformance fee would have to be paid as the share price would have to be 5-6 times the current share price for that to happen.
greedfear: Frankly,I prefer them issuing new shares at prices higher than NAV. This inflow of new money will be used to increase their uranium portfolio. The share price of uranium stocks will benefit from increased demand (thus increasing the NAV of GCL shares, thus increasing GCL share price). As far as I’m concerned GCL issues new shares as much as possible as soon as possible (as long as issue price>NAV).
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: 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?
Geiger Counter share price data is direct from the London Stock Exchange
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