Thank you, Mr. Chair.

Under the devolution agreement, the GNWT is required to make best efforts to maximize the value of the Mactung property, if Canada was going to accept Cantung, and so as the Minister said, the bids came in low. The GNWT was not satisfied with the bids. Canada certainly was not satisfied with the bids. So part of the decision-making process that was undertaken by the GNWT at the time was either to accept Cantung and all its liabilities, or to purchase Mactung. Canada then would accept Cantung with its liabilities and the GNWT could wait for the price of tungsten to increase, making that property more attractive, and get a better price than what they paid for it. Thank you.