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CONCLUSIONS OF LAW <br />15. The Board has jurisdiction over this matter and Prospector pursuant <br />to the Act. <br />16. By failing to pay annual fees and submit annual reports, Prospector <br />violated sections 34-32-116(3), (4) and -127(2)(a), C.R.S.; Rule 5.6(1); and the NOI. <br />17. By violating sections 34-32-116(3), (4) and -127(2), C.R.S. and Rule <br />5.6(1), Prospector failed to comply with the Act and Rules, in violation of the <br />performance warranty provisions of the NOI. <br />18. The Board is required to provide operators and all financial warrantors <br />notice that a financial warranty is subject to forfeiture and afford such operators <br />and financial warrantors the right to appear at such hearing to be held not less <br />than thirty days after such notice. C.R.S. § 34-32-118(2); Rule 4.20(2). The Board, <br />through delegation to the Division, properly notified Prospector and all financial <br />warrantors of the September 27, 2017 hearing in accordance with section 34-32- <br />118(2), C.R.S. and Rule 4.20(2). <br />19. At a hearing to consider forfeiture of a financial warranty, the Board <br />may withdraw or modify its determination that such warranty is subject to <br />forfeiture, or settle, compromise, or confirm its determination. C.R.S. § 34-32- <br />118(3)(a). In accordance with section 34-32-118(3)(a)(III), C.R.S., the Board <br />confirms its determination that the financial warranty for the NOI is subject to <br />forfeiture. The Board issues this Order pursuant to section 34-32-118(3)(b), C.R.S. <br />Prospector did not appear in this matter to present any mitigating factors. <br />There is no information before the Board indicating that any action other than the <br />requested action is appropriate. Therefore, based on the foregoing findings of fact <br />and conclusions of law, the Board enters the following order: <br />The Board orders that the financial warranty for Notice of Intent number P- <br />2012-006 is FORFEITED and orders affected financial warrantors to immediately <br />deliver to the Board all amounts warranted by applicable financial warranties. <br />The Board waives any and all outstanding civil penalties against Prospector. <br />DONE and ORDERED this4 <br />n day of 2017. <br />Gold Hill Minerals, Inc. <br />P-2012-0061 Bueno Mining Mill <br />PV -2017-009 <br />3 <br />