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6. Prospector's annual fee in the amount of$86, completed annual report, and <br /> map were due by the anniversary date of June 24, 2016. <br /> 7. Prospector failed to pay the annual fee, or submit the annual report and <br /> map by the anniversary date or at any time thereafter. <br /> 8. On April 21, 2017, the Division mailed a Reason to Believe a Violation <br /> Exists letter to Prospector, informing Prospector of the possible violations of the <br /> Colorado Mined Land Reclamation Act, Article 32 of Title 34, C.R.S. ("Act") and <br /> providing details regarding a hearing on this matter scheduled for May 24, 2017. <br /> 9. Prospector failed to pay annual fees or submit annual reports and maps by <br /> the NOI anniversary date in 2015 and 2016, or at any time thereafter, as required by <br /> sections 34-32-116(4), C.R.S. and Rule 5.6 of the Mineral Rules and Regulations of the <br /> Colorado Mined Land Reclamation Board for Hard Rock, Metal, and Designated Mining <br /> Operations ("Rules"). <br /> 10. The Division holds a performance warranty from Prospector in the NOI in <br /> which Prospector warrants that it will, among other things, comply with all permit <br /> conditions, the Act. <br /> 11. The Division holds a financial warranty for N01 number P-2009-018 in the <br /> amount of$2,000. <br /> CONCLUSIONS OF LAW <br /> 12. The Board has jurisdiction over this matter and Prospector pursuant to the <br /> Act. <br /> 13. Prospectors are required to annually submit a report, map, and fee. <br /> C.R.S. § 34-32-116(4) (2016); Rule 5.6. Prospector failed to submit the annual report, <br /> map and fee, in violation of section 34-32-116(4), C.R.S. and Rule 5.6. <br /> 14. A financial warranty is subject to forfeiture when the Board determines that <br /> a Prospector is in default under a performance warranty and failed to cure such default <br /> despite written notice and ample time to do so. C.R.S. § 34-32-118(1)(b)(2016). By <br /> violating section 34-32-116(4), C.R.S. and Rule 5.6, Prospector is in default under its <br /> performance warranty and failed to cure such default. The financial warranty for the NOI <br /> is subject to forfeiture pursuant to section 34-32-118(1)(b), C.R.S. <br /> 15. The Board may revoke a NOI if it finds, after hearing, that a violation of the <br /> NOI has occurred. C.R.S. § 34-32-124(6) (2016). By violating section 34-32-116(4), <br /> C.R.S. and Rule 5.6, Prospector is in violation of the performance warranty,which <br /> constitutes a violation of the NOI. Revocation of NOI number P-2012-007 is warranted. <br /> Red Arrow Gold Corporation <br /> P-2012-007 <br /> PV-2017-004 2 <br />