Resource Investor reports on the launch of a new collective uranium investment fund.
In what has been a very active week in the uranium sector, Geiger Counter Limited, a new fund to concentrate on investing in uranium and nuclear power opportunities, launched this week on the London Stock Exchange [LSE:GCL] and Channel Islands Stock Exchange [CISX:GCL], offering investors yet another way into yellowcake.
GCL, a closed-ended collective investment fund created by New City Investment Mangers, successfully raised £12 million via a subscription of 24 million ordinary shares at 50 pence.
The fund will primarily invest in companies involved in the exploration, development or production of uranium, as well as fossil fuels and potential alternative energy supplies, “given the growing demand for energy and the shortage of existing supplies,” according to the press release.
Andrew Ferguson, co-fund manager, gave Resource Investor some hints as to what companies in which GCL may invest.
Ferguson said the fund will look into producing company’s like Cameco [NYSE:CCJ; TSX:CCO] and distributing companies like Energy Resource of Australia [ASX:ERA]. He also noted developing companies like SXR Uranium One [TSX:SXR] and Paladin Resources [TSX:PDN; ASX:PDN] and junior companies like Omega Corp. [ASX:OMC] and Albidon [AIM:ALD; ASX:ALB].
Ferguson said the fund will focus on companies in the sector with “proven management,” but noted that “we’re not just looking at the production and development side of it.”
He said GCL will invest in companies involved in the construction and servicing of nuclear power stations, thus offering an integrated investment in the sector.
“We are offering a window on the world of uranium and are providing investors the opportunity of gaining exposure to a variety of junior uranium focused companies whilst retaining one name in their share portfolio,” said Adam Cooke, an Executive Director of New City Investments Managers, in the release.
GCL, however, will not take direct holdings in the commodity.
In what has been a very active week in the uranium sector, Geiger Counter Limited, a new fund to concentrate on investing in uranium and nuclear power opportunities, launched this week on the London Stock Exchange [LSE:GCL] and Channel Islands Stock Exchange [CISX:GCL], offering investors yet another way into yellowcake.
GCL, a closed-ended collective investment fund created by New City Investment Mangers, successfully raised £12 million via a subscription of 24 million ordinary shares at 50 pence.
The fund will primarily invest in companies involved in the exploration, development or production of uranium, as well as fossil fuels and potential alternative energy supplies, “given the growing demand for energy and the shortage of existing supplies,” according to the press release.
Andrew Ferguson, co-fund manager, gave Resource Investor some hints as to what companies in which GCL may invest.
Ferguson said the fund will look into producing company’s like Cameco [NYSE:CCJ; TSX:CCO] and distributing companies like Energy Resource of Australia [ASX:ERA]. He also noted developing companies like SXR Uranium One [TSX:SXR] and Paladin Resources [TSX:PDN; ASX:PDN] and junior companies like Omega Corp. [ASX:OMC] and Albidon [AIM:ALD; ASX:ALB].
Ferguson said the fund will focus on companies in the sector with “proven management,” but noted that “we’re not just looking at the production and development side of it.”
He said GCL will invest in companies involved in the construction and servicing of nuclear power stations, thus offering an integrated investment in the sector.
“We are offering a window on the world of uranium and are providing investors the opportunity of gaining exposure to a variety of junior uranium focused companies whilst retaining one name in their share portfolio,” said Adam Cooke, an Executive Director of New City Investments Managers, in the release.
GCL, however, will not take direct holdings in the commodity.
