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Mr. Bruce Humphries <br />September 19, 2002 <br />Page 2 <br />Climax Molybdenum Co. still intends to submit an interim bond, in the form of a <br />recorded deed of trust, by October 14, 2002. When final agreement on financial warranty is <br />reached, this bond will be adjusted. As we have indicated in earlier correspondence, if internal <br />milestones delay this process, we will notify the Division of the impact upon this deliverable. <br />Please contact me at (303) 569-3221 ext.1301 if you need more information or would <br />like to discuss this further. We would be happy to meet with the Division if you believe that a <br />meeting would help facilitate this process. <br />Sin rely, <br />Cam" • ~ ~ d~~/~ <br />Wtlham D. Rech <br />Vice-President/General Manager <br />Climax Molybdenum Co. <br />Encl. <br />Cc: Rick Freis, Phelps Dodge (w/o attachments) <br />Ron Cattany, Director, DMG (w/o attachments) <br />Allen Sorenson, DMG <br />Erica Crosby, DMG <br />_,`~ -~~ <br />