Thank you, Mr. Chairman. Mr. Chairman, when you take in the total scope of where we went with Sirius Diamonds NWT, we had to incur a number of factors that add up to this, and this includes going through the interim receiver process and having them manage the facility to the point of sale where we've gone to the courts and are waiting for that 30-day period to come to a close, which will be in June. The total cost to us as the GNWT, we're looking at approximately $10.7 million, and then you throw against that the estimated proceeds from the sale of the assets and what we have there at $4.5 million comes out to a difference of about $6.2 million or almost $6.3 million. Then we're further offset in future years, as I stated earlier, by sales of diamonds that have been trademarked with the polar bear trademark. That would bring us fees going forward. But the initial figures, the total loss is about $10.7 million, then you take the proceeds from the sale at $4.5 million and that's where we come up with our loss of almost $6.3 million. Thank you.
Floyd Roland on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on May 31st, 2005. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
May 31st, 2005
Page 131
See context to find out what was said next.