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forfeiture based on Prospector's voluntary surrender of the warranty. The letter <br /> also provided details regarding a hearing scheduled for October 16, 2024. <br /> 6. Prospector failed to submit the annual report, fee, and map for 2024, <br /> as required by sections 34-32-116(3) and (4), C.R.S. and Rule 5.6 of the Mineral <br /> Rules and Regulations of the Colorado Mined Land Reclamation Board for Hard <br /> Rock, Metal, and Designated Mining Operations (the "Rules"). <br /> 7. The Division holds a performance warranty from Prospector in which <br /> Prospector warrants that it will, among other things, comply with all permit <br /> conditions and the Act. <br /> CONCLUSIONS OF LAW <br /> 8. The Board has jurisdiction over this matter and Prospector pursuant to <br /> the Colorado Mined Land Reclamation Act, Article 32 of Title 34, C.R.S. ("Act"). <br /> 9. Under section 34-32-116(3), C.R.S. and Rule 5.6, Prospectors are <br /> required to submit an annual report and map showing information including, but <br /> not limited to, the extent of disturbance to affected land, reclamation accomplished, <br /> anticipated disturbances, and reclamation to be performed. The Prospector failed to <br /> submit the annual fee and report due on July 23, 2024 and is in violation of section <br /> 34-32-116(3), C.R.S. and Rule 5.6. <br /> 10. Under section 34-32-116(4), C.R.S., Prospectors are required to submit <br /> an annual fee as specified in section 34-32-127(2), C.R.S. The Prospector failed to <br /> submit the annual fee due on July 23, 2024 and is in violation of section 34-32- <br /> 116(4), C.R.S <br /> 11. Pursuant to section 34-32-124(2), C.R.S., the Board may issue a cease <br /> and desist order if it determines that a prospector violated any provisions of the Act, <br /> Rules, or notice of intent. The Prospector violated section 34-32-116(3) and (4), <br /> C.R.S. and Rule 5.6. <br /> 12. A financial warranty is subject to forfeiture when the Board <br /> determines that the Prospector is in default under a performance warranty and fails <br /> to cure the default although the Prospector has received written notice and has had <br /> ample time to cure such default. § 34-32-118(1)(b), C.R.S. (2024). Failure to comply <br /> with the Act and NOI provisions constitutes violation of a performance warranty. <br /> By failing to submit the annual fee and report in violation of the Act, Rules, and <br /> NOI number P-2007-058, the Prospector is in default under the performance <br /> warranty. Therefore, the financial warranty for NOI number P-2007-058 is subject <br /> to forfeiture. <br /> The Mining Company, Inc. <br /> P-2007-058 <br /> PV-2024-002 r 2 <br />