Selling the Mactung deposit together with the Cantung Mine allows prospective buyers to evaluate and propose a more comprehensive tungsten business plan that could possibly include economically feasible mining operations, remediation, as well as exploration. This approach is more attractive to responsible developers and increases the potential viability of renewed tungsten mining operations in the Northwest Territories. Our priority is to identify and establish an experienced proponent whose proposed business model will maximize benefits to Northwest Territories residents and businesses.

I am happy to update the Member that we have completed a request for qualifications process to shortlist suitable proponents, and we are now defining the terms for the request for proposals to send to the shortlisted candidates. We are actively engaging with Indigenous governments and organizations in the Yukon and the Northwest Territories throughout this process.