Email of the day (2)
Comment of the Day

August 13 2010

Commentary by Eoin Treacy

Email of the day (2)

on a uranium miner holding company
"Your comments on uranium yesterday reminded me that over a year ago I bought a very small holding in an unusual investment trust run by New City named Geiger Counter. Some of their top holdings include companies you mention. Readers may be interested..........or not. (I am not an employee or shareholder of New City, by the way!)"

Eoin Treacy's view Thank you for bringing this closed-end fund back to our attention. It can be found in the Chart Library and holds a number of interesting prospective mines. I'm not sure if they charge a performance fee but the management fee is 2%. Here is a link to the July factsheet. Its largest holding, Kalahari Minerals, has a similar pattern to Extract Resources, covered in yesterday's Comment of the Day. Mantra Resources found support in July near A$4 and would need to sustain a move below that level to question potential for some further upside.

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