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<br /> <br /> <br /> <br /> <br /> <br />September 15, 2025 <br /> <br /> <br />Lynn M. Shults <br />L. G. Everist, Incorporated <br />7321 E 88th Avenue, Suite 200 <br />Henderson, CO 80640 <br /> <br /> <br />Re: Carbon Valley Resource - File No. M-2001-017, L. G. Everist, Incorporated <br /> Surety Reduction Request (SR-2) <br /> <br />Dear Lynn M. Shults: <br /> <br />On September 15, 2025, the Division of Reclamation, Mining and Safety concluded its review of the <br />Surety Reduction Request application submitted to the Division on August 26, 2025, addressing the <br />following: <br /> <br />Surety Reduction for completion of grading, topsoiling and seeding. <br /> <br />The decision reached by the Division is: Approve. Reclamation bond reduction, all major <br />reclamation tasks at the site are complete. The reservoir liner is certified, and all sloping, grading, <br />topsoiling, and seeding are completed as per the reclamation plan. In accordance with Rule 4.17.2(5), <br />the Division is required to wait thirty (30) days from this notice to allow for appeal of the Division’s <br />decision. Once this period closes, if no appeal is submitted, the Division’s decision will be final. <br /> <br />This is a reduction of ($803,635.00). This decision reduces the amount of the financial warranty, and <br />does not approve any release of reclamation responsibility for the tasks associated with this request. <br /> <br />Please provide a rider to the current Financial Warranty, or submit a new Financial Warranty <br />reflecting this reduction. If you wish to submit a different type of Financial Warranty, please contact <br />our office for the applicable form. <br /> <br />Bond Held: $864,200.00 <br />Change in Liability: ($803,635.00) <br />Revised Liability: $60,565.00 <br />Change in Permit Acreage: 0.00 <br />Revised Permit Acreage: 58.10 <br /> <br />