George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
To deliver attractive returns to shareholders principally in the form of capital growth, through investment in companies involved in the exploration, development and production of uranium to supply the nuclear power industry.
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Thank you Icwaderer I wasn't sure whether it was via broker (which is easier ) or getting contact with the company ,
and the price I saw in the annual result of a closer look. It looks like if today's price holds up it be worth taking up the
subscription as it would bring down my average buying in price down. Thanks
Bipos - your broker / platform should notify you (nearer the time) of your right to purchase 1 new share for every 5 shares you hold on 30th April 2024.
The price this year will be 37.74p
See RNS dated 4th May 2023 - link below...
https://www.lse.co.uk/rns/GCL/subscription-rights-price-2024-yltuv6gpall30i9.html
Could anyone explain to me what the proceed er is to apply for the subscription and what price expected to be,thanks
A bit of profit taking or selling with the intention of buying back in lower, seems like a risky strategy to me in this Uranium market, talk of Cameco & Kazatomprom running low on inventory and possibly buying from spot to fulfil contracts, also there's still talk of a US ban on shipments of U308/UF6 to Russia and EUP out of Russia. Just holding myself and plan on taking up the subscription rights.
Note the 1 to 5 sub on the 30th April with the offer based on 37.74p = end of remaining discount before then?
GCL straight Up 4.1% closely followed by YCA Up 4%. Another positive day for Uranium is underway.
This from another bb last night should see another good day for GCL:
“ Ozzie GCL portfolio members up strongly at the open
PDN +8%
BMN +6.5%
AGE +13%, yes +13%.
Other popular Ozzie names like LAM, 92E, LOT and DYL up ~8+%”
Perhaps the time will soon arise when the percentage gains at GCL start to outperform YCA,which is what you would expect to happen.
Still value here and the discount should narrow in due course.
Compared to URNP (which I also hold) GCL is biased towards the blue-r chip names which, of the non producers, had performed the strongest in the autumn run up. Nexgen, Denison, Paladin, URG etc performed better than the juniors (Baselode, Canalaska etc).
If we're going to see another run up, which looks like it's started, it'll be interesting to see which strata of U stocks does the best. Paladin action overnight on the ASX was beautiful, and looking for more of the same later from Denison, NXE etc. I bought more GCL this morning: sector is only going one way imo
I'm getting a bit perplexed by it myself ColinL1 tbh, I just put it down to the fact that YCA is purely a physical uranium fund so the sp will inevitably track the spot price, GCL holds a basket of miners, out of their top 5 holdings - although advanced projects & a restart, 3 of the companies aren't currently producing any uranium. It's my understanding that the market is still waiting on higher spot prices and then term contracts of +$80/lb to start being signed.
Yellow Cake has seen a good steady rise in price - why not GCL's too?
According to Quakes on X, Uranium ETF's URNM & URNJ have been dumping large amounts of the shares they hold in uranium miners to raise cash for the year end dividend they pay out.
Spot now at $88 ask, the dip looks like it's been bought up in the US and the FED is pivoting to dovish, hopefully we'll start to move up here.
Spot is hitting 15 years highs and we've not yet seen the equities fly. This must be due a good run shortly. Whats everyones thoughts on what is keeping them down?
All fair comments masplin. I also hold YCA & URNP (larger positions than my GCL) plus a couple of the earlier stage miners for torque.
GCL is far from perfect (the fees, the somewhat lopsided portfolio - ISO @ 7% is also too high, the annual 1:5 subscription issue is an unnecessary moving part) but despite this I'm happy to own during potential upswings in the sector because the discount should provide additional upside.
Personally don't have an issue with NXE as it's key holding in the large cap ETFs (6% of URA and 4% of URNM) and is liquid enough for the fundies to get involved, so I don't see it lagging.
According to AIC fees are now 3.1%!!!! So whats the big thing with having 25% of the portfolio in NexGen? these are guys with the Rook Project which is yet to come on line so I guess there is still considerable risk of them starting to produce. This sort of makes sense to have been trading at a premium when the price was low as this was pure optionality, whereas with uranium prices here there is a risk they dont get to produce in time to enjoy the current imbalance. seems there is a major funding risk to the project. Ok well good to try and understand the dynamics. i'll keep watching. thanks
Geiger Counter used to be the ugly duckling of the sector; it's always been overweight NXE but from memory the other holdings weren't attractive, plus previously the liquidity was so bad that it wasn't a realistic option to own it; some days there were only a handful of trades.
Fees at 2.61% (might be wrong on this) are also way out of kilter with URNM/URNP (quite frankly they're outrageous in this day and age) however with the current liquidity vastly improved and a whopping 20% discount to NAV, in this current Uranium market those fees are a rounding error.
Hi. I'm new on this thread, but been holding YCA since inception. I looked at GCL at the time and couldn't think why I would pay a premium ofr a bunch of dodgy miners when you could just buy physical. Seems GCL had a fantastic 2022, but over 4 years they are pretty much the same performance. YCA is sitting on 12% discount (US SPUT on 2%). i was intrigued seeing GCL on a 24% discount what is going on.
You guys are familiar with this stock so is there something off in the maths of the quoted discount? Is the fund full of dodgy unlisted securities doesnt look like it), is this so weird UK IT discount thing? Similar trust to Golden Prospect which also persistently trades at 20% discount so maybe its just a thing with UK commodity trusts. .
Feels wrong ,but guess you all feel that.
With the Uranium spot hitting 15yr highs you'd think this would be higher than where we are, back in Apr 22 this was trading at 77p which was at a premium to the NAV of 67p but we're currently trading at 49p which is a 22% discount to the 63p NAV, have i got these figures correct? If so what's the reason given the new highs in the Uranium Spot? Us being on the brink of WW3 in the Middle East?
Noticed that significant buybacks have begun, which is very welcome.
I daresay most who have bought GCL are well aware of the Uranium thesis and are here because the discount to NAV is compelling, so watching to see how these buybacks stack up.
Https://www.ft.com/content/3574031b-7d75-4215-86b2-15feaed6ab7f
The world needs nuclear energy. This may still be unpopular with the public, but is widely accepted in the commodity market. Uranium prices (U3O8) have climbed more than a quarter to $65 per pound in the past six months. Noisy bulls have put their money where their mouths are.
Getting carbon-based fuels out of the electricity generation system requires more than wind and solar farms. These have too much supply intermittency. Plain, steady state generators can provide the balance of electric power needed.
Nuclear, despite the long build times, costliness and safety concerns, should win out. Since 2000, the number of operating reactors has fallen slightly. But by 2030 there should be another 32, mostly in China, according to Liberum data. Each new reactor in China needs more than 100 tonnes of the mined U3O8 equivalent.
That growth plus life extensions for US nuclear power plants means demand should exceed supply from 2025.
Speculators in Canada’s Sprott Physical Uranium Trust and UK-listed Yellow Cake, which buy and hold uranium, have squeezed up prices in a thinly traded spot market.
But nothing offers a klaxon alert for a commodity like a supply crunch. The world’s two largest uranium producers, Kazakhstan and Canada, together account for 58 per cent of output. Close Russian ally Kazakhstan supplies some western buyers, and Russia could block its obvious export routes. Others are costly, says Robert Crayford of Geiger Counter Investment Trust.
Toronto-listed Cameco, Canada’s miner of uranium, has sold all its output years ahead. Other big producers, Australia and Namibia, are in slow run-offs. That is why a July coup in Niger, which accounts for just 4 per cent of world uranium supply, lifted prices.
If uranium rises much higher, say much above $70, that should encourage miners to lift output. Almost every supplier in the world would then be producing above their cash costs. That is good news for long-term buyers, less so for speculators.
Few more this morning.
Looking at US markets at close, the Uranium stocks are turning.
Bought more today.
Been waiting for a market correction but I couldn't ignore the huge discount to NAV any longer.
Interesting close.
Not sure if it’s the Russian ban news (although being denied), or people seeing value.
Yes, very strong opening. NXE up ~6% as I type
https://www.google.com/finance/quote/NXE:NYSE
Look at uranium in USA and Canada.
Still seems to be a bit of selling. Hard to under the discount except the UK just don’t get Uranium market.
Still hoping for a re-rate in to the mid 60p zone at some point. 🤞
(Only holding 10K shares in my ISA, so not overly exposed. Just frustrating).