Thank you, Mr. Speaker. It's time the federal government paid attention to this royalty regime. We've been telling them for the last year and a half that the current royalty regime as it stands in terms of mining in the Northwest Territories is, to put it bluntly, pathetic.

At the present time, we are working with the federal government in an effort to look at a new more lucrative royalty regime that will bring new revenues both to ourselves and to the federal government and clearly some of this has been specifically driven in relationship to the exploration and the potential of a BHP diamond mine up in the Lac de Gras area. Thank you.