It was always an expectation that, over time, the surety bonds that were being held for this particular mining industry would convert over to irrevocable letters of credit. Right now, to be very simple about it, it's not a concern right now. From the perspective of the government, the surety bonds that we have can be called upon by the government if we need to, so from our perspective, they provide adequate security and assurance that, if the bonds needed to be called, if the securities needed to be called, they would be there. What they did provide was some flexibility to the company when it was initially undertaking the environmental agreement process. So that flexibility was there. It comes with protection for the GNWT, and at this point, there is really, from our perspective, no concern in continuing as it is right now and no intention of changing or reducing the level of security that we have or the form that it's in. Thank you, Mr. Speaker.
Caroline Wawzonek on Question 344-19(2): Mine Financial Securities
In the Legislative Assembly on October 15th, 2020. See this statement in context.
Question 344-19(2): Mine Financial Securities
Oral Questions
October 15th, 2020
Page 1263
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