2015-04-14_REPORT - M1980244 ‎(3)‎

• Permit No: M1980244
• IBM Index Class Name: REPORT
• Doc Date: 4/14/2015
• Doc Name: Annual Report Fee Map
• From: Cripple Creek & Victor Gold Mining Company
• To: DRMS
• Email Name: TC1
• Media Type: D
• Archive: No

Mr. Tim Cazier
April 9, 2015
Page 14
Per 2CCR 407 -1, 407 -4, and Rules 1.15(1)(a), Financial Warranty /Letter of Credit No.
from the Dresdner Bank AG, New York Branch, in the amount of
$33,331,600.00 replaced the St. Paul Fire and Marine'
arine 'Surety Bond No. for the
same amount. The new financial warranty was sent to DRMS on July 16, 2004 and the
St Paul Fire and Marine bond was released on July 21, 2004.
Liberty Mutual Surety Bond No. was increased to $45,250,000 (an increase
of $6,327,726.79) effective July 29, 2014.
On August 31, 2011, DRMS accepted the submittal of the Scotiabank Increase to
Irrevocable Letter of Credit No. in the amount of $12,770,000.00 for a new
available balance of $57,890,000.00 for the Cresson Project.
These financial instruments, providing a total financial warranty of $136,471,600, have
been previously accepted by the DRMS and continue to demonstrate the sufficiency of
the value of the Cresson Project Financial Warranty. The current estimated reclamation
cost, including the Technical Revisions described in this report, amounts to
$136,356,058, leaving an unallocated surplus of $115,542 as of this date.
$136,351,165.00 DRMS letter dated July 18, 2014 (which included TR 71)
$ 4,893.00 Addition of TR 73 (described in this report)
$136,356,058.00 Current Reclamation Cost Estimate
$136,471,600.00 Total Financial Warranty Instruments (as presented above)
$136,356,058.00 Current Reclamation Cost Estimate
$ 115,542.00 Unallocated Surplus
Per 2CCR 407 -1, 407 -4, and Rules 4.7(3), the insurance company's most recently
available balance sheets are attached, demonstrating that the Surety Bonds do not
exceed ten percent (10 %) of the bank's capital surplus accounts.
Designated Mining Operation:
Per 2CCR 407 -1, 407 -4, and Rules 1.15(1)(c), monitoring information presented as part
of the Amendment No. 9 application and outlined within the Environmental Protection
Plan is routinely submitted to the DRMS. j