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IIAY-21-07 04:50PU FROAhDAVIS GRAHAMI David Berry Cheryl Linden Tyson Powell May 21, 2007 Page 2 T-693 P.003/004 F-572 Basin Resources would like to bring these administrative proceedings to a prompt conclusion. To accomplish that goal, Basin anticipates that the final order of the Boazd will provide clear guidance to all parties concerning the steps necessary to abate the NOV and terminate the regulatory process. T spoke to Dave Berry, and it appears that we might be able to meet on Friday, June 1, to discuss how best to secure final resolution of this enforcement action. I understand that Mr. Powell will need fiuther guidance from the Board to determine whether he will attend this meeting. In anticipation of that meeting, I have set forth what Basin believes to be the critical elements of a proposed Boazd order, which should set out the process for resolving the NOV. I hope we can discuss and finalize the proposed order at that time. We believe a final Board order should include the following key elements: 1. The Las Animas Cvunry District Court determined that the diminished value of the Tatum property caused by a second subsidence event occurring in 2000 is $622,000. 2. This figure fully compensates the Tatums far the loss of the use of the property for residential purposes. The Tatum property has value only as vacant agricultural land, pasture or irrigated farmland. 3. The Board has upheld NOV 2007-001, which finds that Basin Resources has failed to compensate the Tatums for the diminished value of their property caused by a second subsidence event occurring in 2000. Basin must pay the Tatums on or before June 15, 2007 $622,000 to abate the NOV. 4. If Basin does not abate the NOV by making a payment of $622,000 to the Tatums on or before June 15, 2007, then Basin Resources shall increase the amount of its bond for the Golden Eagle Mine to a total of $622,000. If necessary, Basin Resources will attend the next meeting of the Board to address any issues that might remain open. Thank you for considering this request. l hope we will be able to develop an approach to the Board's order that allows for final resolution of this enforcement action.