Uranium miner Cameco reports $61 million loss in Q3

[Oscar]

Uranium miner Cameco reports $61 million loss in Q3

[ https://www.cbc.ca/news/canada/saskatoo ... 651_216072 ]

Company says Cigar Lake mine reopened in Sept. as planned

CBC News November 04, 2020

Cameco reopened its Cigar Lake mine in September after closing it over COVID-19 concerns. (Liam Richards/Canadian Press)

Despite posting a loss in its latest financial statement, Cameco says it continues to be optimistic about the future.

On Wednesday, the Saskatoon-based uranium company reported a net loss of $61 million for Q3 2020.

The company said the losses can be partially attributed to its decision to close the Cigar Lake mine in response to the COVID-19 pandemic in March.

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[Oscar]

Cameco says tax dispute could end up in Supreme Court of Canada

[ https://www.cbc.ca/news/canada/saskatoo ... GV5t7u537Q ]

Saskatoon-based company says Canada Revenue Agency could appeal Federal Court of Appeal decision

CBC News November 01, 2020

Cameco's dispute with the Canada Revenue Agency could wind up in the Supreme Court of Canada, after the agency asked for a leave to appeal a Federal Court of Appeal decision made last year. (Trevor Bothorel/CBC)

Saskatoon-based Cameco, which is currently involved in a tax dispute with the Canada Revenue Agency, said the matter could wind up at the Supreme Court of Canada and take years to decide.

The Canada Revenue Agency (CRA) is appealing a Federal Court of Appeal decision, which sided with Cameco in its dispute of reassessments issued by the CRA for the 2003, 2005 and 2006 tax years.

That 2018 ruling upheld a decision of the Tax Court of Canada that focused on the company's use of a subsidiary in Switzerland to sell and trade uranium.

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