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EXHIBIT L <br />RECLAMATION COSTS <br />Financial warranty will be provided under CRS 1973, Section 34-32- <br />117(3)(a)(VII), one of the self-insurance statutes. <br />Mining occurs from the north to south on the eastern half of the property and <br />occurs from the south to north on the western half of the property. Reclamation costs are <br />set on the assumption that the disturbed area increases for several years and then remains <br />reasonably constant during the remaining life of the mine. As the pits advance, the mined <br />areas are backfilled, graded, topsoiled and seeded. Using these assumptions, maximum <br />disturbance areas for these two areas are calculated as follows: <br />Number of Acres +/- <br />Area Slope Floor Revegetation <br />Pit Disturbance <br />East''/z 5.9 3.3 9.2 <br />West 11/z 12.4 8.6 21.0 <br />SUBTOTAL <br />18.3 11.9 <br />30.2 <br />Ancillary Disturbance <br />SUBTOTAL <br />TOTAL DISTURBANCE <br />68.3 <br />98.5 <br />Total <br />9.2 <br />21.0 <br />30.2 <br />68.3 <br />98.5 <br />Since backfill will be continuous with the mining operation approximately 341,435 cubic <br />yards of backfill will be required to return the land contours to slopes capable of being <br />traversed by farm machinery with no slopes steeper than 2:1. Soils and spoils <br />respreading, as well as all vegetation procedures, will be required on 98.5 +/- acres. <br />Our estimate of costs for the various reclamation items are as follows: <br />50 Revised: Dec. 2003 <br />