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COLORADO <br />Division of Reclamation, <br />Mining and Safety <br />Department of Natural Resources <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />August 2, 2016 <br />To: Robin Reilley <br />From: Jason Musick <br />RE: New Elk Mine, C-1981-012 <br />2016 Midterm Review RCE Memo <br />Per your request, attached is the reclamation cost estimate for the 2016 New Elk Mine Midterm Review. <br />As of August 2, 2016, the Division estimates liability at the New Elk Mine is $4,034,998.07. This amount is <br />sufficient to assure completion of the remaining reclamation work at the site if the work had to be <br />performed by the Division, including the cost of re-establishing vegetation on any revegetated areas, <br />should those areas fail. The permittee currently has on deposit with the Division nine cash bonds in the <br />amount of $4,133,137.02. <br />The Division updated the reclamation cost estimate with costs updated in June, 2016 to reflect 2016 CRG, <br />Means and CDOT rates. This updated estimate total is $4,034,998.07. This estimate updates the costs <br />associated with tasks identified in the 2014 Permit Renewal No. 6/Technical Revision No. 68 reclamation <br />cost estimate and includes costs for Minor Revision No. 135, which reflects the only revision that included <br />an increase in liability since the estimate was last updated in 2014. This 2016 Midterm Review revised <br />cost estimate is $98,138.95 less than the current bond held of $4,133,137.02 and $122,145.91 less than <br />the previous required liability of $4,157,143.98. <br />1313 Sherman Street, Room 215, Denver, CO 80203 P 303.866.3567 F 303.832.8106 http://mining.state.co.us <br />John W. Hickenlooper, Governor I Mike King, Executive Director I Virginia Brannon, Director <br />