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Q E v I S IOAIS 7-0 L+/ftp_2ft--7-7 D I S&CSS io.ov .•✓ 2 of S C R isSo v �4w.vu•fc �?sPo�2r Do cx �' <br /> An update of the reclamation cost estimate for Cresson Project Amendment No. 10 was <br /> completed in early 2014 and the revised Exhibit L is attached to this report. The 2014 <br /> updated estimated liability amount is calculated to be $192,338,313.30. CC&V <br /> proposes to post a total of $194,000,000.00 in reclamation warranty, allowing a surplus <br /> of$1,661,686.70 at full build-out to be applied to future Technical Revisions. <br /> This will increase the current posted warranty of $130,143,871.21 by an additional <br /> $63,856,128.79. CC&V will post the additional $63,856,128.79 in three (3) separate <br /> installments, as discussed and agreed upon by the Division. The first installment (of <br /> which $31,000,000 has been posted previously) will be increased by $7,851,856.17 and <br /> represents the 2014 cost increase for all components of the Cresson Project with the <br /> exception of the Squaw Gulch Valley Leach Facility ("SGVLF"), which has yet to be <br /> completed. The second installment will be in approximately 2015 in the amount of <br /> approximately $36,962,819.93 and will include the completed Phase 1 SGVLF. The <br /> final installment will be posted in circa 2017 in the amount of approximately <br /> $19,041,452.69 and will be for the completed Phase 2 SGVLF. This is the last <br /> component to be completed for the Cresson Project under Amendment No. 10 to Permit <br /> No. M-1980-244. With that final installment, the total posting of $194,000,000 for the <br /> Cresson Project will be completed by CC&V. <br /> The total amount currently posted for the Cresson Project is $130,143,871.21. Upon <br /> acceptance by the Division of the 2014 updated reclamation cost estimate included as <br /> revised Exhibit L (Appendix A of this report), CC&V will increase the warranty amount to <br /> $137,995,727.38 ($130,143,871.21 current warranty plus $7,851,856.17 updated 2014 <br /> cost except SGVLF). <br />