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release amount associated with the SL -03 and SL -04 approvals should have been no more than
<br />$1,204,977.69 (71.38% (69.6 acres/97.5 acres) of 60% of the original RN -04 liability for the East
<br />Mine of $2,813,527.80). Therefore, SL -03 and SL -04 "over -released" a total of $508,369.01
<br />($1,713,346.70 - $1,204,977.69).
<br />Table 3
<br />East Released
<br />East Remaining
<br />West
<br />West Released Remaining
<br />Loadout Loadout Minimum
<br />Released Remaining Requirement
<br />1
<br />$1,713,346.70
<br />$71,206.38
<br />Amount
<br />Amount
<br />$1,136,354.00
<br />Amount
<br />$738,725.59
<br />Previously
<br />Phase III Previously
<br />Phase I Released
<br />Previously Over-
<br />Phase II Release
<br />Over-
<br />Released Over -
<br />through SL -05
<br />Released
<br />through SL -05
<br />Released
<br />through SL -05 Released
<br />East Mine
<br />$1,713,346.70
<br />$508,369.02
<br />$76,677.16
<br />$0.00
<br />$0.00
<br />NA
<br />West Mine
<br />$709,004.00
<br />$235,804.71
<br />$197,166.37
<br />$0.00
<br />$0.00
<br />NA
<br />Loadout
<br />$1,136,354.00
<br />$0.00
<br />$0.00
<br />NA
<br />$0.00
<br />NA
<br />Based on the information above and identified in Tables 1 through 5, upon the approval of this SL -
<br />05 bond release request the Division will retain the required minimum of $3,264,189.05. The
<br />current required performance bond for the Bowie No. 1 Mine is $3,439,562.61. Accordingly, the
<br />proposed release amount for this SL -05 is $175,373.56 ($3,439,562.61 - $3,264,189.05). The
<br />remaining $3,264,189.05 is sufficient to assure completion of the remaining reclamation work at the
<br />site if the work had to be performed by the Division, including the cost of reestablishing vegetation
<br />on any revegetated areas, should those areas fail (Rule 3.03.1(3)(a) and 3.01.3(3)(d)). Although the
<br />Division must retain a minimum of $3,264,189.05, the reclamation cost estimate for the remaining
<br />reclamation tasks (those tasks for which liability has not been released) was recalculated at current
<br />costs. The estimated cost to reclaim the mine site, based on remaining liability for all tasks not
<br />released through SL -5, is $2,245,967.70.
<br />Table 4
<br />Table 5
<br />Phase
<br />East Released
<br />East Remaining
<br />West
<br />West Released Remaining
<br />Loadout Loadout Minimum
<br />Released Remaining Requirement
<br />1
<br />$1,713,346.70
<br />$71,206.38
<br />$709,004.00
<br />$0.00
<br />$1,136,354.00
<br />$667,519.21
<br />$738,725.59
<br />II
<br />$76,677.16
<br />$656,374.121
<br />$197,166.371
<br />$67,735.381
<br />$0.001
<br />$751,613.84
<br />$1,475,723.34
<br />111
<br />$0.00
<br />$439,830.77
<br />$0.00
<br />$158,941.05
<br />$0.00
<br />$450,968.30
<br />$1,049,740.12
<br />Total
<br />$1,790,023.86
<br />$1,167,411.27
<br />$906,170.37
<br />$226,676.43
<br />$1,136,354.00
<br />$1,870,101.35
<br />$3,264,189.05
<br />Table 6
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