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vsl"-~/ <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman S[., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: {303) 832-$106 <br />November 2, 2004 v/ <br />Mr. Bill Addison ,/ <br />Colorado Marble L.L.C <br />229 Industrial Park Rd. NE <br />Caztersville, GA 30121 <br />RE: Colorado Mazble L.L.C.; Lily Mines; Permit No. M-1987-028 <br />Financial Warranty Increase <br />Dear Mr. Addison, <br />COLORADO <br />DIVISION O F <br />MINEBRALS <br />GEOLOGY <br />0.EC LAMAiION•MINING <br />SAFETY•SCIENCF <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />Ronald W. Cattany <br />Division Direcor <br />Natural Resource Trustee <br />On September 28, 2004 the Division of Minerals and Geology conducted an inspecfion of the Lily Mines, <br />Permit No. M-1987-028. According to Rule 4.2.1(1) and (2), the Division may review a financial warranty at <br />any time to determine if the amount is sufficient to perform reclamation. The result of that inspection and <br />subsequent recalculation indicated that the site is currently underbonded. This letter is to inform you that your <br />financial warranty will need to be revised from its current amount of $24,000.00 to $282,000.00 within 60 <br />days of receipt of this letter. The operator has three options regarding the amount of required bond; <br />1. submit additional financial warranty in the amount of $258,000.00 within 60 days of receipt of this letter, <br />2. perform some reclamation on the site to reduce the reclamation liability, or <br />3. revise the reclamation plan. <br />A copy of calculations used to determine this cost is attached for your review. If you have any questions about <br />this process or how the bond was calculated, please contact me at (303) 866-4943. <br />S' erely, / ~( <br />t~nc s + r L~~~+I>~~ <br />Environmental Protection Specialist <br />cc:/Cazl Mount; DMG (via electronic transmission) <br />„barb Chiappone; DMG (via electronic transmis§ion) <br />Enclosures} <br />Certified Mail # 7000 1670 0001 3656 6578 <br />Office of Office of Colorado <br />Mined Land Reclamation Attive and Inactive Mines Geological Survey <br />