….Prospects looked grim for nuclear energy around the world as Germany ditched its nuclear programme and the uranium price has drifted down to $34.50 a pound ever since, too low to get the miners digging at new sites such as Cigar Lake…http://www.thisismoney.co.uk/money/investing/article-2485118/Geiger-Counter-Investment-Trust-Is-uranium-precious-metal-just-hot-handle.html?ito=feeds-newsxml
2 November 2013
Daily mail
Turn back the clock seven years and those in the know were tipping uranium shares as hot one-way stocks, likely to generate powerful returns.
And they were right for a while when the price of the ‘other yellow metal’ leapt from $35 a pound in 2006 to $135 in 2007.
The catalyst for the rise was a flood in the fledgling Cigar Lake mine in Saskatchewan, Canada – one of the world’s biggest uranium deposits – the year before, which triggered supply worries. But the market is very volatile, as shares in the Geiger Counter Investment Trust have shown.
Run by New City Investment Managers, based in Belgravia, London, it invests in about 50 uranium-based company shares.
Its own share price rose from 51p at the 2006 launch on the main market of the London Stock Exchange to 126¾p by 2007. But in the stock market crash the next year it fell to 12¼p.
