Mining's Last Frontier
Nunavut’s Cold, Remote and Potentially Very, Very Rich
By Greg Klein

Canadian explorers and miners operate in over 100 countries, but one of their last frontiers might be within our borders. Nunavut certainly holds potential but, at least for the present, it takes the financial resources of an Agnico Eagle TSX:AEM to bring subterranean resources to surface.

Even then the territory can prove a costly disappointment, as the company’s Meadowbank Gold Mine write-down shows. Last month came news of an even bigger disappointment, Newmont’s TSX:NMC $1.61-billion write-down of its Hope Bay Gold Project. Curiously, the failure was offset to some extent by an announcement made just yesterday. A privately held upstart, HTX Minerals, has formed a strategic alliance with an Inuit organization to explore the region encompassing Hope Bay.

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