Geiger Counter Limited

Geiger Counter (GCL), which invests in companies involved in the exploration, development and production of uranium, may benefit from nuclear power’s role in decarbonising the global electricity supply. Governments around the world appear to be making nuclear energy (a source of zero carbon baseload power) a cornerstone of their green agendas. Existing 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 what GCL’s managers describe as 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, the managers believe that there is little to no demand destruction from higher pricing, which is why they consider that there is material further upside to come.