The Globe and Mail reports in its Wednesday edition that shares of satellite player Telesat rose nearly 20 per cent Tuesday, buoyed by investor optimism about a massive wave in defence-related spending by Canada and its allies. The Globe's Irene Galea writes that the surge in Telesat's share price came despite a net earnings loss and warnings from the Ottawa-based company that it cannot repay a substantial portion of debt coming due next year. Speaking to analysts Tuesday, chief executive officer Dan Goldberg said the company is "increasingly bullish on the government and defence opportunity," as the geopolitical environment is driving a "once-in-a-generation" boost to military investment in satellite technology. While announcing fourth-quarter earnings, Teleset said it has added new capabilities to its low-Earth-orbit constellation, which is under development, in order to service defence needs for governments. The company's Lightspeed satellites, which will provide broadband services, will now be able to transmit on the Military Ka-band frequency, an important capability which could allow Telesat to access a range of new military contracts. In recent months, Telesat has signed several defence-related partnerships.