Desk notes
What happened, dated and sourced.
Short records of the things that move the research: a quarterly result, a deal, a policy decision, a data release, a market close. Each one cites the document it came from and says in a sentence why a U.S. reader should care. The briefs do the interpreting; the notes keep the record.
34 notes · page 2 of 2
July 2026
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Policy / Critical Minerals
New 50% U.S. tariffs on Canadian goods spare energy, potash and critical minerals
Three July 20 proclamations under Section 338 of the Tariff Act of 1930 add a 50% duty on a wide range of Canadian products from August 19, but trade counsel's reading of the annexes keeps uranium, potash and other listed minerals outside it.
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Policy / The Canadian Discount
Bank of Canada holds at 2.25% and projects 0.7% growth for 2026
The policy rate stayed at 2.25% on July 15, 2026; the Bank projects GDP growth of 0.7% this year and 1.8% in 2027 and 2028, with May inflation at 3.2% on oil prices tied to the Middle East conflict.
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Deal / Canadian Defense
MDA Space sells 23,000,000 shares at US$35.60 to fund its CLS purchase
Six days after making a firm offer of about €567 million for 70% of France's CLS, MDA closed an upsized bought deal of 23,000,000 common shares for gross proceeds of about US$819 million, its second equity raise of 2026.
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Deal / Uranium & Nuclear
Cameco lifts Cigar Lake stake to 57.4% as its partner's mill goes down
A 5% purchase closed on July 2 and a two-week acid-plant outage at Orano's McClean Lake mill ended on July 14, with Cameco's 2026 Cigar Lake outlook unchanged.