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L<B>and</B> <B>mine</B> Page 18 of 20 <br /> He suggested that the company adopt an <br /> "environmental policy" with goals and objectives, <br /> according to minutes of the meeting. Galactic also <br /> could offer to clean up the acid coming from the old <br /> mines as a gesture of good faith to increasingly <br /> concerned state regulators, Massey said. <br /> Two years later, on Aug. 24, 1992, Massey made <br /> similar suggestions in a letter to Charles Russell, a <br /> Galactic executive and board member. <br /> This time, it wasn't state regulators Massey hoped <br /> to impress. Having a corporate environmental <br /> policy "may be essential to the establishment of a <br /> defense of due diligence in the event of prosecution <br /> of Galactic's corporate directors or officers," he <br /> wrote. <br /> That same month, Galactic signed an agreement <br /> with the state to clean up the site, at a cost of.$25 <br /> million. <br /> But according to depositions, Galactic executives, <br /> who had been selling the company's assets since <br /> the previous January in a frantic effort to raise • <br /> money for the cleanup, knew the agreement was <br /> doomed even as they signed it. <br /> Colorado calls for EPA help <br /> By mid-December 1992, the liquid was lapping the <br /> top of the dike — 170 million gallons of water <br /> contaminated with cyanide and heavy metal. <br /> Galactic had put its Summitville subsidiary into <br /> bankruptcy on Dec. 4, abandoning the mine to the <br /> state. The parent company declared bankruptcy a <br /> month later under Canadian law. <br /> Colorado officials summoned the Environmental <br /> Protection Agency. <br /> Water was still running through Galactic's diggings <br /> and into the old mines, pouring acid and metals into <br /> Wightman Fork. <br /> http://www.denver-rmn.cominews/0507smmtl.shtml 5/7/00 <br />