When will be the start-up of the construction phase for the Kiggavik project?
And, what is the value of the investment in this project?
The Kiggavik project is currently in the exploration phase and undergoing an environmental assessment. If the environmental assessment is approved and the required permits are issued by the federal and territorial regulators as well as institutions of public government and Inuit organizations, a construction decision would have to be made by the Kiggavik Project joint venture partners. Based on multiple variables including the regulatory approval and licensing process and uranium market conditions, we anticipate that the earliest that this decision could happen is in 2015 with a potential start of construction in 2017. We currently estimate that capital investments to bring the Kiggavik Project into production will be in the order of $1.5 billion with an annual operating cost of about $200 million for about 20 years.