Agnico Eagle in NunavutThe NIRB report suggested that one of the concerns was the financial viability of Back River operator. I can't help thinking that if someone with deeper pockets were to develop the mine, the NIRB might change it's tune. They want to know that if there is an environmental disaster, there is someone with the resources to clean it up.
Agnico Eagle has declared it's intention to make Nunavut a significant part of it's operations. It has an established record as an operator in the territory and has experience building new mines. Their acquisition of Back River would be a win-win as they would get a promising project at discounted price and Sabina shareholders win if the change in ownership gives NIRB the level of comfort it needs to approve.