North American Tungsten Corporation Ltd (NATUF)

[StockRoomBully]

Finally bidders deadline was Febuary 25th

Now we're finally getting somewhere

But Ketchum said buyers do have the option to restart the Cantung mine.

"It's not simply just a remediation project in our minds. We think there is some value still remaining," he said, adding there is also the potential to reprocess Cantung's tailings to recover tungsten.

The request for proposals was supposed to go out in summer 2020, but was delayed due to COVID-19. The pandemic also held things up since some interested bidders couldn't get in for site visits.

The deadline for the request for proposals is not expected to close until early 2022, a spokesperson with Canada's Crown-Indigenous Relations and Northern Affairs, Matthew Gutsch, told CBC News by email.

Once the bids are received, a committee comprising representatives from the federal and territorial governments and the monitor will pick a preferred bidder, he explained.

When (or if) a sale goes through, the Canadian and territorial governments have an agreement about how the proceeds will be split.