The second is what we're seeing with the huge upswing in metal prices throughout the 2000s. Graph 13 shows that despite similar geology and despite similar logistical challenges, NWT should have seen a similar upswing in maintaining its percentage of overall exploration in Canada. I think that's the significant message. Compared to other jurisdictions in the north, why is there this precipitous decline? The total volume of money going into the mineral sector around the world has been going up exponentially, so why is there a relative decline here? I think that's the first question.
The second one is that while there was a lot of exploration in the 1990s, the distribution of commodities—what people are looking for—is significant as well. A lot of that exploration was for diamonds after those first discoveries were found, and you're seeing the proportion of expenditures allocated to the diamond sector dropping precipitously, according to the Metals Economics Group's latest expenditure reports for 2011 and 2012.
When you look at the pipeline of projects coming down, you see that NWT is maybe benefiting from previous decades of exploration with the number of projects in the pipeline, but its ability to have that same constellation of projects in the regulatory process in 20 years' time is being hampered by its relative underperformance in attracting investment exploration.
Those are the two points I'll make. I'll let Rick respond as well.