Laserfiche WebLink
1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />March 16, 2015 <br />To: Marcia Talvitie <br />From: Susan Burgmaier <br /> <br />Re: Bowie No. 1 Mine (Permit No. C-1981-038) <br /> Surety Release No. 5 (SL-5) <br /> <br />Per your request, I have completed a reclamation cost estimate f <br />consideration of the Phase II bond request (SL-5) by Bowie Resources, LLC (BRL). This review memo <br />was originally sent to you in draft form on February 17, 2015; this represents the final draft. As a <br />result of my review, I would recommend that the Division propose$172,270.15, <br />resulting in a required performance bond of $3,267,292.46. <br /> <br />When determining the amount to be released under a bond release <br />required to limit the release amounts to the percentages allowed03.1(2), and ensure <br />that the release amount does not result in the Division holding <br />complete reclamation of the site in the event of a forfeiture (R3.03.1(3)(d)). A review of the <br />minimum bond retention amount, compared to the estimated costs to complete the remaining <br />tasks for which liability has not been released, indicates that not release the <br />maximum amount allowed under Rule 3.03.1(2) for this bond releas <br /> <br />The tables below summarize the release amounts allowable for all of the mine areas, based on the <br />requirements of Rule 3.03.1(2). <br /> <br />1. The reclamation liability for the site prior to any bond release <br />Renewal No. 4 (RN-4), at $6,879,590.12. The Division subsequently approved several minor <br />revisions and technical revisions for various drill holes, total- <br />release liability for the site was $6,998,267.43. The determina <br />amounts is therefore based on a total of $6,998,267.43. <br /> <br />2. It appears that, in previous bond release actions, the Division may <br />amount allowed by Rule 3.03.1(2). <br /> <br />1313 Sherman Street, Room 215, Denver, CO 80203P 303.866.3567 F 303.832.8106http://mining.state.co.us <br />John W. Hickenlooper, Governor | Mike King, Executive Director | Virginia Brannon, Director <br />