Related Articles
Mining & Metals
Cogeco Expects Near US$1.2B Non-Cash Impairment Charge For U.S. Business In Q3 FY26
Cogeco Communications (CCA.TO) expects a non-cash impairment charge of about $1.7 billion (US$1.2 billion) for the third quarter of fiscal 2026, the company said Monday.The amount, net of deferred income taxes, is related to the goodwill and intangible assets of the American telecommunications segment, it added.Cogeco said the charge reflects the "competitive environment" in which it operates in the United States. It added the preliminary charge amount will be finalized and recognized in the corporations' consolidated financial statements for the third quarter of fiscal 2026.This impairment charge is non-cash in nature and does not affect the corporations' cash flows or day-to-day operations, it said. "Cogeco is progressing with the implementation of measures to strengthen its performance in the United States, including the growth of its wireless service and the recent launch of a new fully digital second brand (welo)," it added.Cogeco shares closed up $0.90, to $67.22 on Friday on the Toronto Stock Exchange.
$CCA.TO$CGO.TO
Mining & Metals
CGI Up 0.6% In US Premarket As IT and Telia In Agreement for Business Services Transfer and New Strategic Partnership
CGI (GIB-A.TO, GIB) and Telia signed an agreement for a business transaction and a strategic partnership, it said on Monday.Under the business deal, Telia's cloud and capacity services for enterprises, and IT end-user services in Finland, will be transferred to CGI, subject to customary regulatory approvals. Nearly 250 Telia employees will join CGI to support the ongoing development and delivery of these services, it said.The companies are launching a strategic partnership through which CGI will support Telia's business operations with "scalable, secure services that leverage cloud technology," while Telia will support CGI's growth through "secure data center infrastructure and network services," it said. Telia's Helsinki Datacenter is not included in the transaction, it added."The additional data center capacity that will become available to us - significant on a Nordic scale - and the high-security solutions available through this partnership help us meet clients' growing demand for secure and scalable IT environments that can handle enterprise AI integration," said CGI President of Finland, Poland and Baltics operations Niraj Sood.U.S.-listed shares of CGI were last seen up 0.6% at US$70 in pre-market trading.
$GIB-A.TO
Mining & Metals
Pan American Silver Advances Plan to Extend Life of Timmins Mine in Ontario
Pan American Silver (PAAS.TO) is advancing a conceptual plan for a phased development of new mineral resources at the Timmins operation in Ontario, the company said Monday.An extensive exploration program conducted at Timmins identified new mineral resources at the Bell Creek mine and satellite deposits.The plan will support a potential expansion of mine life Timmins, the miner said.The first phase of the Timmins Camp project has commenced following board approval of a C$146 million investment for shaft extension and drift access at the Bell Creek mine, Vogel and Samson deposits.The initial spending on the first phase was included in Pan American's 2026 guidance of $40 million to $43 million of project capital at Timmins, and there are no changes to the company's 2026 annual guidance."The potential phased development and integration of the satellite deposits would transform Timmins into a long-life Canadian production platform," President and Chief Executive Officer Michael Steinmann said.
$PAAS.TO