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Page 14 <br /> 6.4.12 EXHIBIT L - Reclamation Costs <br /> Starting out in the initial projected 5 years of Operations, and incrementally thereafter, <br /> necessary warranty can be estimated and adjusted in incremental Units based upon the <br /> projected Life of the Operation. Essentially, a 28-33± year Life of Operations assumes a <br /> rate of extraction of approximately 8.0± acres per year. <br /> Considering the Mining-Regrading Schedule included as Table E-1 in Exhibit E, and the <br /> general development concept shown on Exhibit L: Financial Warranty Map, Raptor <br /> estimates for the initial 5-year period, development of an initial 40-acre excavation and <br /> development of a "Core" area in the Center Section of Central Field will result in creation <br /> of approximately 6,200-foot of external perimeter pit wall. No reclamation or lining is <br /> anticipated in the initial 5-year period. <br /> It is important to note that the financial warranty estimates the closure cost of the <br /> operation at the end of the expected first 5-year period. It is assumed in this initial estimate <br /> that no reclamation activities (regrading, lining, topsoiling) will take place. The cost <br /> estimate then reflects reclaiming the projected excavation at that point in time. The actual <br /> extents and shape of the excavation may change, and actual progress will be addressed <br /> in the annual reports. <br /> Raptor estimates for Financial Warranty purposes an approximately 4,020-foot wall <br /> excavated at 2H:1 V and a 2,180-foot wall at 1.25:1 V slopes. <br /> DEWATERING: <br /> Raptor assumes that the pit would be in an unlined state and if operations had ceased, <br /> would recharge to static water level requiring dewatering of the pit to allow reclamation <br /> operations to be completed. <br /> 100 hp. 4,500 gal./min. pump x (up to) 3 pumps @ 24 hours/day <br /> Volumes per Tract: <br /> Total Gallons — Central Field = 1,470,040,694± gallons 151.38 surface water acres = <br /> 9,710,931 gal./acre x 40.0± acres = 388,437,229± gallons for the initial 5-year <br /> excavation. <br /> Y_ = Avg. = 77,687,448 gal./8.0 acres x $ 0.000026/gal. discharge (refer to Kurtz est. <br /> utilizing similar pump and rates.) <br /> Total Cost for initial 40.0±acres of Discharge = 388,437,229± ±gallons x $ 0.000026/gal. <br /> discharge (refer to Kurtz est. utilizing similar pump and rates.) <br /> $ 10,099.37-Initial Discharge Cost for 40± acres <br /> VARRA COMPANIES, INC. TWO RIVERS SAND GRAVEL AND RESERVOIR PROJECT MARCH 2O22 <br /> A REGULAR IMPACT[1121 CONSTRUCTION PERMIT APPLICATION-COLORADO DIVISION OF RECLAMATION MINING&SAFETY <br /> OFFICE OF MINED LAND RECLAMATION <br />