Thank you, Mr. Chairman. Mr. Chairman, I agree with the Member that, as she laid it out, the first socioeconomic agreement can be interpreted a number of ways. It's not very tight. We've learned from that. From a GNWT perspective, we have tightened it up to better reflect where we want to go and see things as the secondary industry develops. But at the same time, we, as a government, have to look at the big picture. The resources that are coming out of the ground are resources that belong to the people of the Northwest Territories, if we're going to believe in land rights and that position. It goes back to a much broader picture about devolution and who makes decisions to pass on things and make a project develop in the Northwest Territories and who benefits from those.

With the tools we had available as a government when diamond mines were being discussed and what potential benefits could accrue to the Northwest Territories and the people of the Northwest Territories, this was one of the ways that was seen as being a more cooperative approach. If the cooperative approach isn't working, then we, as a government, have a duty to see what, in fact, we can do to ensure some benefits stay in the North, and that may be re-looking at the whole side of it and saying maybe we need to look at a different method and go down that road.

Initially I think we're trying to take the cooperative approach. At the end of the day, what we saw was a deal that we thought would be very positive for the Northwest Territories and solidify the opportunities in the North in the sense of the secondary industry. We're aware that it won't be bargain hunters coming out. Interested parties have already started making contact to see what can be done. We have been waiting and the receiver has been waiting for the execution of the waiver, and that, again, as I said earlier, is going to happen today. So the process will once again kick into full gear as we begin looking for a potential buyer for the plant.

A couple of other things will come into play. One, is there are some people out there with history in the Northwest Territories and history with the mining operations. Ultimately, yes, it will go back. With the agreement the way it is set up, it will go back to the mining operations signing an agreement with a potential new buyer on the supply of rough. We're hopeful that this will go through, but again we have to look at what's going to come forward from the receiver, and maybe we will get to the point where we say this is not a benefit to the Northwest Territories to continue with this process, and work with the receiver and look at the other side of the scale and liquidate all the assets out there.

But as the GNWT, we have been supportive of the secondary industry; we continue to be and are hopeful that a deal will come through. It is unfortunate that we find ourselves back in this position. Believe me, as Finance Minister working to ensure that our money is spent wisely, it has been a difficult process, but it's one that at times is necessary to try to see the long-term benefit for the

Northwest Territories and its people. Hopefully we will be able to see some of that as we go forward. Thank you.