The First Nation of Na-cho Nyak Dun (NND) was consulted on matters relating to the United Keno Hill mine, Premier Dennis Fentie says.

Fentie said in an interview this morning he was surprised by Friday's announcement by the first nation that it was pulling out of regulatory talks on the Mayo area mine, as he believes the first nation was consulted in keeping with the requirements of their self-government agreement.

Following Friday's announcement, the stock of Alexco Resources Corp. plummeted by $30 to $50 million, according to the company's president and CEO, Clynton Nauman.

Nauman said he believes the drop in his stock price on the open market can be directly attributed to the fractured state of the consultation process between first nations and the Yukon and federal governments.

Fentie said he believes the level of consultation with the NND was considerable.

'There has been extensive consultation that has taken place on this site,' the premier said. 'It has been consistent with what the parties have agreed to with respect to consultation protocol.

'That's a protocol that was agreed to by all first nation governments in their final agreement,' he said.

Fentie said he's been disappointed with the views made public by opposition parties and labelled the comments 'empty criticism.'

He said the matter of United Keno Hill discussions were much more detailed than just consultation and involved court orders, federal government involvement as well as Yukon government involvement, and liability issues.

'There's much more to this than what has been spinning around in the media.'

On Friday, NND Chief Simon Mervyn announced his government was pulling out of talks because his government had been excluded from any meaningful dialogue related to Alexco's redevelopment of United Keno Hill.

'Although we have had some discussions in the past, they were courtesy consultations' and only paid lip service to our rights while the government eagerly cooperates with Alexco in furthering its objectives,' Mervyn said. The first nation has declined to elaborate on its concerns.

Fentie said he feels that Alexco is 'a good corporate citizen', has lived up to it's legal obligations with its activities in the Mayo area, and has invested millions of dollars in Yukon.

He said it was unfortunate that the mining company was caught in the middle of the dispute.

'It's unfortunate the company has been treated in this manner. They're caught up here with what the parties had agreed to.'

Fentie said he could not comment on Nauman's criticisms that the regime of consulting with first nations in the Yukon was directly responsible to spiralling of the company's stock downward.

'I can't respond to what a mining executive has said in relation to stock market conditions,' he said.

Fentie said he believes the Yukon government has been living up to its obligations on all matters of first nation consultation and characterized a court case involving the government and the Little Salmon Carmacks First Nation as an opportunity for clarity on self-government requirements.

Earlier this year, the Yukon Supreme Court ruled that the government had not fulfilled its obligations to consult the Little Salmon Carmacks First Nation when it awarded an agriculture lease in the Carmacks area to Larry Paulsen.

'There was ample evidence that the Yukon government had consulted on the Paulsen matter, it was agreed to by the first nation.

'Consultation was done, mitigating factors changed the application considerably,' he said.

'Our appeal is evidence that we're looking for clarity.'

When asked for details on the NND's complaints, Ellenise Profeit, a spokeswoman for the NND, said she was unable to comment on the matter.

'I haven't been directed to give any further comment at this time.'