You've touched on a point, because I'm a proud Canadian. When I started, in 1974, there was a boom in the mining industry.
However, there are things we cannot change. It's nature. Nature blessed us with a lot of deposits in Canada, but just to take an example of how nature works for us, there was a big project, Nemaska, on which the Quebec government and the mining industry spent $1.1 billion. They had to sell for $1. Why? It was because it didn't make the cut.
Take the Renard project. Then there is the Éléonore project, which is the proudest discovery that we have made in the last 20 years. The owner of the Éléonore mine took the writeoff from the mine, so they kind of acknowledged to the industry that they would never make money out of that mine.
Now, is it because the mining executives were stupid or were paying too much? I'm not here to discuss that. However, that's the reality of life.
That's why sometimes mining companies go elsewhere to find deposits that are of high quality. It has nothing to do with the local populations. They take everything into account. Even here, where we have plenty of help from the government, and we have flow-through shares, which are working well, and which keep our exploration industry going, that doesn't mean they go to development and to construction because that's where it counts. It's just difficult. It's just nature.
Very often, mining companies abroad are making the profits that allow them to mine here in Canada. However, maybe there are few deposits here. I would say, for example, there are definitely good deposits of nickel and copper, if you look at Raglan or in the Ring of Fire and more in the Sudbury area, but this is just nature.