Geiger Counter Limited - Annual Overview from QuotedData
1st December 2023
Powered up for growth
Geiger Counter (GCL), which invests in companies involved in the exploration, development and production of uranium, is set to benefit from nuclear power's colossal role in decarbonising the global electricity supply. Governments around the world are making nuclear energy (the only source of zero carbon baseload power - the minimum amount of electric power needed to be supplied to the electrical grid at any given time) a cornerstone of the green agenda.
Existing nuclear reactors' lives are being extended, while Asia drives a global fleet expansion as demand for uranium surges. Meanwhile, a 10-year bear market has restricted investment in any new supply and created a highly supportive backdrop for uranium, with the spot price jumping considerably in recent months.
At less than 10% of the overall cost of power production, there is little to no demand destruction from higher pricing, which is why GCL's managers believe that there is material further upside to come. GCL's 19.9% discount to net asset value (NAV) seems both unjustified and extremely attractive.
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