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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 <br />August 5, 2003 <br />1 <br />COLORADO <br />DIVISION O F <br />MINERALS <br />GEOLOGY <br />RECLAM ATION•MI NING <br />SAfETY•SCIENCE <br />Bill Owens <br />Governor <br />Greg E. Walther <br />Mr. R. SeOtt Lamb Executive Director <br />Soward Ranch Partnership ~ Ronald w. cattany <br />P.O. Box 130 Division Director <br />Creede, CO g 1130 Natural Resource trustee <br />~ ~ <br />Re: Soward Ranch Pit, Permit No. M-1988-021, Succession of Operators Approval, Revision No. SO-2 <br />Deaz Mr. Lamb: <br />On June 30, 2003, the Division of Minerals and Geology approved the succession of operators from Sowazd Ranch <br />Partnership for this operation. Sowazd Ranch, LLC is now the permitted operator of the Sowazd Ranch Pit, and as <br />such, is responsible for all provisions in M-1988-021, as well as those specified in the Rules and Regulations. <br />Enclosed aze the following bond and the Performance Warranty you originally provided. <br />Irrevocable Letter of Credit in the name of Sowazd Ranch Partnership LC3 $8,335.00 <br />These have been released as of June 30, 2003 Division approval for the succession of operators. You should <br />advise your bank or insurance company of this release by copy of this letter. <br />If you have any questions, please contact me. <br />Sincerely, <br />~V James C. evens <br />Environmental Protection Specialist <br />Enclosures <br />CERTIFIED MAII. N0.7001 1140 0003 5605 6173 <br />Rettun Receipt Requested <br />Office of Office of Colorado <br />Mined Land Reclamation Active and InaRive Mines Geological Survey <br />