Uranium Major to Get US$300M Tax Refund

Cameco Corp. (CCO:TSX; CCJ:NYSE) is to get a tax refund of about US$300 million (US$300M) from the Canada Revenue Agency (CRA), which is the partial resolution of an ongoing dispute that began in 2008, reported Canaccord Genuity analyst Katie Lachapelle in a March 27 research note.

The analyst explained that the CRA revised certain tax assessments imposed on and remitted by the Canadian uranium producer for the years 2007 through 2013. This resulted in a credit owed to Cameco and the now-pending refund, to be issued in cash (US$89M) and letters of credit (US$211M). When it will happen is unknown. A Favorable Sign

Lachapelle highlighted that US$300M is only 39% of the amount Cameco disputes, but the refund is an encouraging development.

"We believe the receipt of this US$300M million is a positive indicator for the long-running dispute with the CRA and suggests it is likely that Cameco will be […]

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