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Order effective on April 15, 2024, revoked the NOI and found that the financial <br /> warranty for the NOI was subject to forfeiture. <br /> 6. . On May 16, 2024, the Division mailed Prospector notice that the <br /> financial warranty was subject to forfeiture and that a hearing would be held at the <br /> Board's June 20, 2024 meeting to consider final forfeiture. <br /> 7. Prospector did not appear at the June 20, 2024 hearing. <br /> CONCLUSIONS OF LAW <br /> 1. Under section 34-32-118(1)(b), C.R.S., a financial warranty is subject to <br /> forfeiture whenever an operator is in default under a performance warranty. The <br /> Prospector is in default under a performance warranty and failed to correct the default. <br /> 2. Under section 34-32-118(3)(a), C.R.S., at a hearing to consider whether a <br /> financial warranty should be forfeited, the Board has authority to confirm its <br /> determination that a financial warranty is subject to forfeiture. <br /> ORDER <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 CONFIRMS its determination that the financial warranty should <br /> be forfeited. <br /> The Board directs, pursuant to section 34-32-118(3)(b), C.R.S., that the <br /> financial warranty for file number P-2013-019 is FORFEITED and orders affected <br /> financial warrantors to immediately deliver to the Board all amounts warranted by <br /> applicable financial warranties. <br /> DONE AND ORDERED this 8th day of August 2024. <br /> FOR THE COLORADO MINED LAND <br /> RECLAMATION BOARD <br /> xt,)�aem, <br /> Af Nelson, Chair <br /> K& B Mining, LLC <br /> P-2013-019 <br /> PV-2024-001 2 <br />