Shares in Cameco Corp. shot higher Thursday after the company said the Tax Court has ruled in its favour in part of a dispute with the Canada Revenue Agency where billions of dollars are at stake. The CRA contends it was a sham established to avoid Canadian taxes, while Cameco has maintained it was for legal and sound business practices. “Our company has been through a lot over the last several years, so this is a great day for Cameco,” Cameco president and chief executive officer Tim Gitzel said. ( Liam Richards / THE CANADIAN PRESS )Cameco chief executive Tim Gitzel called the judgment issued Wednesday was a clear victory. The spot price, however, spiked to over $130 a pound in 2007 and in recent years has ranged between about $18 and $40, while the Swiss subsidiary was still paying the fixed price.

Source: thestar September 27, 2018 18:33 UTC