Air Canada Sells 25% Aeroplan Stake for $2.5 Billion
Air Canada announced that funds managed by Blackstone and La Caisse, alongside PSP Investments and British Columbia Investment Management Corporation, will invest $2.5 billion for a 25% non-controlling interest in Aeroplan, putting the latter’s valuation at $10 billion. The carrier said it will retain the remaining 75% and says it will continue controlling Aeroplan’s strategy, […]
Malinowski Accuses Treasury of Helping Criminals With FinCEN Rollback
Former Democratic congressman Tom Malinowski is accusing the Trump administration of effectively dismantling an anti-money-laundering law he helped advance, calling Treasury’s decision to erase previously collected corporate ownership data “totally illegal.” The criticism followed an announcement from the Financial Crimes Enforcement Network that US companies and persons will be permanently exempt from reporting beneficial ownership information […]
Aurora Cannabis Suggests Curaleaf’s Bid Is Capped Too Low
Aurora Cannabis (TSX: ACB) has responded to Curaleaf’s (TSX: CURA) announcement that it intends to launch an unsolicited take-over bid for the company, confirming its board is reviewing the proposal while pointing out that the offer carries a ceiling below where Aurora shares traded as recently as December. In a statement issued August 11, Aurora […]
Avino Posts $11.1 Million In Adjusted Net Income as Costs Run Ahead of Guidance
Avino Silver & Gold Mines (TSX: ASM) reported second quarter revenue of $26.8 million, up 23% from a year earlier but well below the record $39.4 million posted in the first quarter, as a softer realized silver price took the edge off the top line. Silver made up 54% of revenue at an average realized […]
Sponsored · Selkirk Copper Mines
Andean Precious Metals Posts Q2 Loss After Holding Back Half Its Output
Andean Precious Metals (TSX: APM) swung to a second quarter net loss of $14.0 million, or $0.09 a share, from net income of $17.4 million a year earlier, after the company chose to sit on roughly half of what it produced rather than sell it. Revenue slipped to $67.6 million from $73.7 million, and adjusted […]
Franco-Nevada Posts Record First Half as Cobre Panamá Deliveries Near
Franco-Nevada (TSX: FNV) reported a sharp increase in second quarter earnings as elevated metal prices flowed through its royalty and streaming portfolio, though the quarter fell short of the record it set three months earlier. Revenue rose 57% to $580.9 million from the same period a year ago. Net income climbed 43% to $354.0 million, […]
Hemlo Mining Grinds Through a Slower Quarter as Unit Costs Jump
Hemlo Mining (TSX: HMMC) reported lower revenue and sharply higher unit costs in the second quarter, as a planned crusher rebuild and a change in mining sequence pulled output down from the pace set in the first three months of the year. Revenue fell to $142.5 million from $186.3 million in the first quarter. Net […]
Treasury Ends Rule Requiring Companies to Disclose Owners
Critics call the rollback a gift to cartels and oligarchs, while Treasury calls it relief for small business.
Sponsored · Selkirk Copper Mines
Petition to Expel Hoekstra from Canada Tops 29,000 Signatures
A House of Commons petition asks the Carney government to declare Pete Hoekstra, the US Ambassador, persona non grata, citing his comments on annexation, election rhetoric and a voter-ID app tied to Alberta’s independence push.
Consumer Bankruptcies Jump 13.5% as Insolvencies Keep Climbing
Canada’s insolvency office recorded its second consecutive quarter above 2009 levels, with bankruptcies rising far faster than debt-restructuring proposals.