|
• In 1999, Colowyo submitted TR-49, which allowed for a modification to the West Pit disturbance
<br />area. The TR-49 modifications added $31,876 to the previously calculated bond liability of
<br />$15,670,52], for a total calculated liability of $1,702,397, leaving a remaining contingency of
<br />$297,603.
<br />In 2001, Colowyo submitted TR-50, which transferred the bond surety for exploration activities
<br />from the mine bond to an exploration bond. The TR-50 revision reduced the mine reclamation
<br />liability by $30,823, resulting in a total calculated mine reclamation liability of $ I x,671,574 and a
<br />remaining contingency of $328,426, based on bond liability coverage of $16,000,000.
<br />In 2001, Colowyo also submitted TR-53, which extended mining into Section 17. In conjunction
<br />with review and revision of the bonding calculations for TR-53, an error was found in the topsoil
<br />replacement costs in the previous bond calculations. With the appropriate correction of the bond
<br />calculations to address this error, the TR-53 revision reduced the calculated mine reclamation
<br />liability by $1,568,751 to $14,102,823. Given bond liability coverage of $16,000,000, the
<br />remaining contingency amount increased to $1,897,177.
<br />The TR-Sb submittal in 2002-2004, addressed changes in the postmining topography and
<br />drainages to reflect material balance and excess spoil considerations. The topographic changes,
<br />as well as updates relative to mine pit and reclamation location and status, necessitated some
<br />minor changes in the bond reclamation material movement volumes and distances. Revision of
<br />the bonding calculations to reflect these changes and updated Tabor and equipment costs resulted
<br />in a total calculated bond reclamation liability of $19,171,621 (an increase of $5,068,798). Based
<br />on the revised calculated bond reclamation costs and the current bond liability coverage of
<br />• $16,000,000, Colowyo is in the process of obtaining an additional $3,500,000 of bond liability
<br />coverage, resulting in a bond contingency of $328,379.
<br />Calculations of the reclamation bond amount, all associated plans and designs, cost
<br />documentation, and summary table are included in Exhibit 13, Bonding Information.
<br />•
<br />3.02-3 Revision Date: 3/31/04
<br />Revision No.: TR-56
<br />
|