Thank you, Mr. Speaker. Mr. Speaker, it was not a government decision, although it is my responsibility, and I take full responsibility for it. It was a decision of the board of the NWT Development Corporation. They decided that it was the last sawmill left in the Northwest Territories. It had been viable in the past and had been in existence for 18 years. Mr. Patterson had fallen victim to the price of lumber falling from $330 per thousand down to $225 per thousand board feet, the same as the rest of the lumber industry in Canada. He was unable to come to terms with Renewable Resources, at times, on his logging area which he was occupying in the Cameron Hills. He moved further toward Fort Simpson and Jean Marie River which proved very, very expensive for him to haul logs in from there. Mr. Patterson wanted to return to Cameron Hills, but he was facing bankruptcy. There were some 40 jobs throughout the year at stake. There were several hundred thousand dollars worth of purchases made in the Northwest Territories by this company. The board of directors of the NWT Development Corporation assessed it and felt that if they could bring him out of this slump, because he was debt-ridden, the possibility existed that this business could be returned to the private sector and continue to make a profit.
That is the story, Mr. Speaker. As I said, I take full responsibility for this decision. Thank you.