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VALCO, INC. <br /> 9296 Windhaven Drive <br /> Parker, CO 80134 <br /> p,/j%% (719)469-0840 <br /> RECEIVED <br /> April 7, 2016 <br /> APR 07 2016 <br /> Ms. Am Eschber er DMSION OF RM M#0— <br /> Y g MINING AND €lY <br /> Division of Reclamation, Mining and Safety <br /> 1313 Sherman St.,Room 215 <br /> Denver,COr 80203 <br /> Re: Minerals Program Inspection Report January 13, 2016 <br /> Dear Ms. Eschberger: <br /> In response to the inspection 1/13/2013 please accept the following: <br /> INSPECTION TONIC: Financial Warranty <br /> CORRECTIVE ACTION: Valco, Inc. has submitted a Financial Warranty Certificate of <br /> Deposit for$60,317.00 as a type of collateral bond to DRMS. <br /> INSPECTION TOPIC: Hydrologic Balance <br /> CORRECTIVE ACTION: Valco, Inc. is in the process of splitting our property at County <br /> Road 22. The property west of the county road will be deeded to Deep Cut,LLC who will <br /> have a new DRMS permit and a separate SWSF: Valco will maintain the property east of <br /> the County road under the current permit. Valco plans to back fill the two lakes remaining <br /> on the property. There is adequate material around the lakes for the backfill (see: VALCO <br /> AGGREGATE MINE RECLAMATION,by Deer and Ault, 6/13/2011). Valco received <br /> an estimate in 2013 for$700,000 to complete the entire back fill shown on the Deer and <br /> Ault study for lakes C and D. The estimate included $140,000 for dewatering power costs <br /> using a diesel gen set. Valco had a power line installed at the cost of$27,000 to eliminate <br /> the gen set for a savings:of$100 000. Valco would anticipate that Deep Cut will have their <br /> SWSP approved by July 31, 2016 and Valco will have a final augmentation number for <br /> the east property and either begin backfilling or reach an agreement with the State <br /> Engineers Office for a renewal of the SWSP. <br /> Please call with any questions. <br /> Sincerely <br /> fTxo mas . Brubaker <br /> President, <br />