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As we discussed on October 1 and in your conversation with AJAX on October 26, AJAX is <br /> reviewing the details of your draft reclamation cost estimate with regards to the liability amount <br /> identified in your letter. In addition, we will specifically evaluate EquipmentWatch.com rental <br /> rates, a construction work task to include pulverizing concrete foundations within 3 feet of <br /> existing grade, the 10-year water treatment period now being proposed,the steel salvage credit, <br /> and interim closure costs based upon 5-year increments for large facilities like the McNulty OSF <br /> or for the Climax Mine as a whole. Once we have evaluated the key differences in cost <br /> assumptions we will request a meeting with DRMS so that we can finalize the cost model. <br /> Thank you for your continued assistance with the Climax closure cost model. Please let us know <br /> if you need anything further at this time. <br /> Si erely, <br /> Raymond Lazuk <br /> Environmental Manager <br />