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iii iiiiiiiiiiiii iii ~ <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />DcparlmeN of Nalu ral Resources <br />1111 Sherman Si., Room 215 II~ <br />Denver, Colorado 80203 <br />Phone: (3031 866-1567 <br />FA!(: 13031 832-8106 <br />DEPARTME[VT OF <br />November 23, 1998 NATURAL <br />RESOURCES <br />Ivtr. Donald Wilson Roy Romer <br />Leadville Mn~ & Milling Corporation c°°e'"°r <br />700 Carr Street lames 5. Lochhead <br />Lakewood, Colorado 80215 Executive Director <br /> Michael 8. Long <br /> Division Drteclor <br />RE: Hopemore &Leadville Mine; Permit No. M-90-0~7 <br />Financial Warranty <br />Dear Mr. Wilson, <br />On October 16, 1498, the Division of Minerals and Geology conducted an inspection of the Hopemore & <br />Leadville Mine, Permit No. M-90-057. According to Rule 4.2(l) and (2), the Division may review a financial <br />warranty at any time to determine if the amount is sufficient to perform reclamation. The result of that <br />inspection and subsequent recalculation indicated that the site is currently underbonded. This letter is to <br />inform you that your financial warranty will need to be revised from its current amount of $1 1,000.00 to <br />$57,880.00 within 60 days of receipt ofthis letter. The operator has three options regarding the amount of <br />required bond; <br />1. submit additional financial warranty in the amount of $46,880.00 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 />Regarding item #3, the reclamation plan states that all structures will be removed once mining is complete. [f <br />the operator wishes to retain any of the structures after mining, a letter from the County is required stating that <br />mine related structures may remain as a beneficial post-operations feature. The reclamation bond estimate <br />will then be revised accordingly. An example of an acceptable letter from the County is enclosed. <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) 866-3567. <br />S in~~rY/l/y',~ <br />LLLlNL ~~t~ <br />.Erica S. Crosby ~/ <br />Environmental Protection Specialist <br />' cc: Carl Mount; DMG <br />Barb Chiappone; DMG <br />Enclosure(s) <br />Certified Mail # Z ~ ~ ( Sag J5'7 <br />c:\asc\kuar\m90057 <br />