The one difficulty I see with the whole waterfront area that is not similar to every other divestiture is the major environmental issue we have. This is not a stand-alone, because there are similar issues in other parts of the country, but it is not your typical divestiture, because you had an unknown.
The concern I have is, what if? What happens with the environmental concern if you take it over, and what happens if you don't take it over? We still have an environmental concern that has to be dealt with either way, so some significant dollars have to be put into the environmental remediation.
Quite honestly, I am very pleased that a working arrangement is in place and is going forward. I have a number of concerns yet, but I'm delighted to hear your tendering is within budget. That's remarkable, given some of the circumstances we're hearing today.
The original cost of the remedial action has dramatically gone up over the years. Could you give me a breakdown on the inflationary aspect of this? We're not talking about a one- or two-year cycle; you've been involved with this for 10 years or more. Is it strictly due to inflation, or has it been due more to increased levels of bureaucracy--i.e., approvals and mandates from the various environment ministries, etc.?