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<br /> <br /> <br /> <br /> <br /> <br />December 11, 2024 <br /> <br /> <br />Patrick Maher <br />Venture Resources, Inc. <br />P.O. Box 3338 <br />Idaho Springs, CO 80452 <br /> <br /> <br />Re: Old Town Reclamation Project - File No. M-2018-057 <br /> Venture Resources, Inc. <br /> Surety Increase (SI-1) <br /> 2024 Inspection Cost Update <br /> <br />Dear Patrick Maher: <br /> <br />On December 11, 2024 the Division of Reclamation, Mining and Safety increased the current <br />Financial Warranty for this permit to $24,387.00, in accordance with Rule 4.2.1 of the Rules and <br />Regulations. This is an increase of $7,637.00. <br /> <br />This surety increase was initiated by the Division, in consultation with the Operator, following a re- <br />evaluation of the Reclamation Cost Estimate using 2024 unit costs. <br /> <br />Please see the September 17, 2024 inspection report for details regarding why this surety increase is <br />required. <br /> <br />On December 11, 2024, the Division ordered amendment of the current Financial Warranty or <br />submittal of a new Financial Warranty reflecting the increase, within 60 days. <br /> <br />Please make arrangements with Sara M. Stevenson-Benn at the Division’s Denver office for submittal <br />of the financial warranty. Any other questions regarding completion, execution and/or submittal of <br />financial warranty forms should also be directed to Sara M. Stevenson-Benn by telephone at (303) <br />866-3567, or by email at Sara.stevenson-benn@state.co.us. <br /> <br />The Permittee for this site may be scheduled for a Formal Board Hearing for possible revocation of <br />the permit if the amount of any increased Financial Warranty has not been provided by February 9, <br />2025. <br /> <br /> <br />Bond Held: $16,750.00 <br />Prior Liability: $16,750.00