Thanks for the question.
I think there are few dimensions here. Maybe I'll speak to the impact of uncertainty on exploration and perhaps Rick and Pierre can talk about the impact of uncertainty on mine development.
The first point is that when you invest scarce resources in an exploration project, your probability of success is fairly low, so security of mineral tenure becomes a critical component of why you'd be willing to make that initial investment and how you can convince investors to finance you, because the junior exploration sector, in contrast to the mining sector, doesn't generate revenue. We're completely dependent upon financing, primarily from the stock exchange, so to convince investors to give us some money to do some geochemistry or geophysics in Nunavut or NWT, we need to be able to tell them that if we find something, we will be able to take that project right through to the mine development stage.