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EXHIBIT L <br /> Reclamation Cost <br /> A phased and cumulative bonding approach is proposed for the West Farm Pit operation. The <br /> financial warranty required for each phase is the warranty required to completely reclaim that <br /> phase. <br /> The financial warranty required for each phase of mining includes a cost component for the <br /> slurry wall required to close the current mined area should the project be stopped. Because the <br /> slurry wall required to close the current mined area for each phase of mining is replaced with a <br /> new slurry wall required to close the current mined area component as the next phase of mining <br /> occurs, the financial warranty required for this component for the previous phase is credited <br /> back in each phase's required financial warranty calculation. This accurately calculates the <br /> additional financial warranty required for any given phase of mining and for the current limit of <br /> disturbance as well as account for the financial warranty that has already been posted to ensure <br /> that the Division has sufficient cumulative financial warranty to complete the reclamation. <br /> Direct costs related to the construction of the reclamation components that have been included <br /> in the financial warranty calculations include: Scarifying disturbed ground surfaces, re-applying <br /> topsoil over disturbed areas, revegetating disturbed areas, slurry wall construction, and <br /> contractor mobilization. The slurry wall costs are broken down based on a graduated scale for <br /> cost to install the slurry wall per the depth of the slurry wall, with the average depth used to <br /> calculate the per lineal foot cost. The slurry wall costs were reduced to 20% of the cost to <br /> construct the slurry wall under the regulated construction option detailed in the "Guide to <br /> Specification preparation for Slurry Walls and Clay Liners as a Component of a Colorado Mined <br /> Land Reclamation Permit". GP is eligible for this option because of the inclusion of design <br /> documents, plans and specifications, and a quality assurance program for the construction of <br /> the slurry wall in Technical Revision No. 3. <br /> Overhead, profit, and project management costs were then calculated and added to the direct <br /> construction costs to arrive at the required financial warranty for each phase. <br /> As each new phase is started, the financial warranty for that phase will be posted with the <br /> Division. When a phase has been reclaimed, inspected, and accepted by the Division, the <br /> associated financial warranty for that phase can then be released. <br /> Please see the attached calculations for details of the costs and quantities used to determine <br /> the financial warranty required for each phase of mining. <br /> The following table summarizes the financial warranty required for each phase, and the <br /> cumulative financial warranty that will be provided during any given phase. <br /> GP Aggregates,LLC. <br /> J <br /> �' <br /> Technical Revision 3 <br />