{"id":1601,"date":"2026-07-13T08:09:21","date_gmt":"2026-07-13T06:09:21","guid":{"rendered":"https:\/\/energianucleare.eu\/geiger-counter-nav-uranium-21-6-in-six-months-global-demand-drives-returns\/"},"modified":"2026-07-13T08:09:21","modified_gmt":"2026-07-13T06:09:21","slug":"geiger-counter-nav-uranium-21-6-in-six-months-global-demand-drives-returns","status":"publish","type":"post","link":"https:\/\/energianucleare.eu\/en\/geiger-counter-nav-uranium-21-6-in-six-months-global-demand-drives-returns\/","title":{"rendered":"Geiger Counter: NAV uranium +21.6% in six months, global demand drives returns"},"content":{"rendered":"<p><strong>Geiger Counter Limited<\/strong> has published its interim report to 31 March 2026, recording a 21.57% increase in net asset value per share, rising from 71.66p to <strong>87.12p<\/strong>. The share price gained 10.65%, closing the period at 66.50p \u2014 a result that reflects the uranium market recovery that began in autumn 2025.<\/p>\n<p>Spot U\u2083O\u2088 price movements tell the story of those six months clearly: starting at $81.9 per pound in September 2025, the price peaked at <strong>$101.5 per pound<\/strong> before settling at $84 by period end. Long-term contract prices stabilised in the low $90s per pound \u2014 a range that reflects both rising utility demand and tightening global supply. On the supply side, <strong>Cameco<\/strong> revised its McArthur River production estimates downward due to delays in developing new mining areas, while Kazatomprom \u2014 which controls roughly 45% of global primary production \u2014 cut volumes under its subsoil use agreements by 10% for 2026. Less ore available against growing demand: the upward pressure on prices remains structural.<\/p>\n<p>During the period, the fund repurchased 8,144,747 ordinary shares at a total cost of <strong>\u00a34.7 million<\/strong>, an operation designed to provide liquidity and support per-share value. Following the close of the half-year, the exercise of annual subscription rights generated an additional \u00a37.8 million in proceeds. Portfolio management has been handed to <strong>Manulife Investment Management Limited<\/strong> in Canada, with Diana Racanelli and Craig Bethune assuming responsibility from 18 May 2026. The transition signals continuity of direction: the fund remains entirely focused on uranium exploration and production companies.<\/p>\n<p>The board explicitly identifies two long-term demand drivers. The first is energy consumption from AI-driven data centres, which requires a continuous, zero-emission power source \u2014 a characteristic that nuclear energy delivers and that intermittent renewables cannot replicate on their own. The second is international political commitment: <strong>38 countries<\/strong> have already pledged to triple installed nuclear capacity by 2050. That commitment translates into long-term contracts, new reactors under construction, and uranium demand set to grow for decades. Sprott analysts estimate a cumulative supply deficit of 197 million pounds by 2040 \u2014 a figure that alone explains why sector managers maintain a constructive outlook despite short-term spot volatility.<\/p>\n<p>With management now in Manulife&#8217;s hands and a portfolio skewed toward producers with uncontracted uranium volumes, <strong>Geiger Counter<\/strong> is positioned to capture the next utility contracting cycle, which many industry participants expect to unfold during 2026. Should industrial and financial demand converge again \u2014 as they did at January&#8217;s peak \u2014 spot prices could return sustainably above $100 per pound, lifting producer equity valuations alongside them. The fund has already demonstrated its ability to turn that dynamic into tangible returns for shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British fund Geiger Counter closed the half-year to 31 March 2026 with a 21.57% surge in net asset value per share, rising from 71.66p to 87.12p. The recovery was driven by spot uranium climbing back above $100 per pound and structurally growing global nuclear energy demand.<\/p>\n","protected":false},"author":25,"featured_media":1598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[118],"tags":[129,132],"class_list":["post-1601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy-economics","tag-energy-security","tag-uranium"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Geiger Counter: NAV uranium +21.6% in six months, global demand drives returns - Energia nucleare<\/title>\n<meta name=\"description\" content=\"Geiger Counter posts +21.6% NAV in H1 2026: spot uranium hits $101.5\/lb and global nuclear demand drive strong returns for the London-listed fund.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energianucleare.eu\/en\/geiger-counter-nav-uranium-21-6-in-six-months-global-demand-drives-returns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Geiger Counter: NAV uranium +21.6% in six months, global demand drives returns - 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