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bkotAoi <br /> � l e 6oARL 0x.46Sn <br /> ke <br /> BEFORE THE MINED LAND RECLAMATION BOARD mi_ <br /> STATE OF COLORADO f.0. Le dv // LlotAp <br /> FINDINGS OF FACT,CONCLUSIONS OF LAW AND ORDER REGARDING <br /> POSSIBLE PERMIT REVOCATION AND FINANCIAL WARRANTY FORFEITURE, <br /> IN THE MATTER OF LEADVILLE CORPORATION,FILE NO. M-1977-249 <br /> THIS MATTER came before the Mined Land Reclamation Board("Board")on <br /> November'17,2005 in Denver,Colorado for a hearing to consider possible permit <br /> revocation and financial warranty forfeiture concerning a Section 112 reclamation permit <br /> held by Leadville Corporation("Operator"). The file number in this matter is M-1977-249. <br /> James Tiffany appeared on behalf of the Operator. Kate Pickford appeared on behalf of the <br /> Division of Minerals and Geology ("Division"). <br /> The Board, having considered the parties' presentations and having been otherwise fully <br /> informed of the facts in this matter, hereby enters the following findings of fact, conclusions of <br /> law and order: <br /> 1. The Operator has an approved Section 112 reclamation permit to operate a 167.2-acre <br /> underground silver mine known as the Sherman Mine and Mill site. The site is located in <br /> Section 27,Township 9 North,Range 80 West, 6th P.M., Lake County,Colorado. <br /> 2. The Board approved this application in 1977. The original bond amount was set at <br /> $91,600.00. Based on Division inspections of the site,the Division notified the Operator <br /> on January 31,2005 that a new bond was required,this time in the amount of$765,443.00. <br /> The bond amount increased primarily due to a revised estimate for the cost of grading and <br /> backfilling retention ponds and for removing existing buildings on BLM property. The <br /> Division gave the Operator sixty days to submit a revised bond. The Operator requested, <br /> and the Division approved,a 30-day extension for submission of the revised bond. The <br />