Geiger Counter Ltd : Net Asset Value(s)

GEIGER COUNTER LIMITED
Date of Announcement:		05/12/2017
Net Asset Values per share as at:			04/12/2017
The unaudited net asset value (NAV) of the company is noted below in pence per share.
						Pence per share
Geiger Counter Limited							23.66
Kazatomprom announced further production cuts, intending to cut production by 20% for 3 years from Jan 18. This is an increase from the 10% cuts in 2017 and they have also stated for a longer 3 year period. This was not expected and isn't in the industry leader UXC's supply/demand projections. Kazakhstan produces 40% of global production, so this equates to an 8% cut in global production, taking the market firmly in to deficit. This action is likely because Kazatomprom intends to IPO in 2018 so want to see an improved Uranium price. It remains unclear how that this will be distributed between producers, with the Russian operated deposits having previously pushed back on making cuts. It may be suggestive of a natural pick up decline rates for Kazakhstan's production. In addition to Cameco shutting the MacArthur River mine, this will focus utilities attentions on supply chain risk for Uranium, hopefully supporting a restock.

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Net asset value as at 04.12.2017 of
Geiger Counter Ltd
(TIDM: GCL):
NAV-bid........... : 23.66 GBp

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Source: Geiger Counter Ltd via Globenewswire