Apex Resources Inc (SLMLF)

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Aboriginal Pipeline Group president Bob Reid said "I hope that over the summer months, we'll be able to carry through and finalize our negotiations with the federal government," Reid said, referring to the proponents' bid to secure loan guarantees or other investments from Ottawa. "We hope to have an announcement sometime during the summer to make this project a reality," Reid added.

The Aboriginal Pipeline Group is part of a corporate consortium, led by Calgary-based Imperial Oil, which is spearheading the Mackenzie Valley Gas Pipeline project. Other partners include Exxon Mobil, ConocoPhillips and Royal Dutch Shell.

The 1,200-kilometre Mackenzie Valley pipeline would transport natural gas from the Beaufort Sea through the N.W.T.'s Mackenzie River Valley to a hub in northwestern Alberta, where it would connect with southern markets. Government officials are expected to meet with pipeline proponents in September.