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In our December 9, 2013 letter, CC &V indicated the company had a third party financial <br />warrantee review completed by Mr. Mike Ellis of Ellis Engineering for this TR. That evaluation <br />suggested that the AM10 financial warranty for the Cresson Project should be increased by <br />$19,909 to cover this addition to the project. Currently, AM10 included a provision for a total <br />financial warranty posting of $171,433,305 with a subsequent revision to $173,000,000. <br />Approval of TR -69 will increase the total financial warranty posting to $171,453,214 for the <br />Cresson Project. The current unallocated bond amount for the Cresson Project is $999,128. The <br />estimated TR -69 amount of $19,909 applied against CC &V's current unallocated bond ' amount <br />results in a new unallocated bond amount of $979,219. In light of the modifications described by <br />this letter, CC &V believes the 19,909 estimate for the road is still valid and the reduction of the <br />South Cresson portion of the Main Cresson mining area by 0.5 acres does not change the total <br />warranty calculation as they are currently stated. <br />Please contact me at (719)7689 -4055 should you have questions or wish to discuss this request <br />for a technical revision. <br />Sincerely <br />xiz <br />Timm Comer <br />Manager, Environmental Resources <br />xc: Lor Pellegrino, Teller County Planning <br />Byron Hakes, Mayor, City of Victor <br />Attachments: Request for partial release of permitted area and Referenced Drawings <br />