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_; , . 2G?? LE: C, ~ 9?v9^95256 Mr. David A. Berry December 28, 2000 Page 4 c_~~.riE F.ESOUF'CES BTU ?AGE 95 d. Bowie will orovide a 52.000.000 letter of credit to s~lement its bonds. While Bowie and AEI do not have sufficient credit to replace the Frontier bonds at this time. they can and will supplement the Frontier bonds by providing the Division with a $2,000,000 irrevocable 180-day term letter of credit issued by a bank acceptable to the Division on or before January S, 2001. This should be more than sufficient to address any concerns that the Division migjtt have during the additional 60-day abatement period requested by Bowie. 3. Failure to Emend the Abatement Period Will Cause Grievous Haan to Bowie its Emnlovees. and the Community. As previously discussed, Bowie is not refusing to replace the Frontier bonds; Bowie cannot replace them at this time. Within 60 days, Bowie expects to be able to do so. Until then, Bowie cannot. If the abatement period is not extrnded for an additiona160 days, and a cessation order is issued, Bowie will be forced to cease its operations in Colorado. This will expose Bowie's lotigwall equipmem to damage resuhing from inactivity. Moreover, this wi71 leave Bowie's 170 employees unemployed and will deprive Paonia of all ofthe ancillary benefits of havutg this significant and high- paying employer in the azea. Furthermore, the harm to Bowie, and to its employees and the community, will very likely be permanent. Bowie operates 24-hours per day, seven days per week, in order to meet its cotitractital obligations. A forced cessation of operations would cause Bowie to breach numerous coatractval obligations and would likely wreck Bowie's financial health and force it into bankruptcy, thus impairing its ability to satisfy its reclamation obligations. Therefore, a failure to extend Bowie's abatement period risks causing the very harm that the NOVs were intended to prevem. Conclusion For all ofthese reasons, I respectfully ask that the Division grant Bowie a 60~ay e~dension of the abatement period for the aboverdescnbed NOVs, setting a new abatement deadline of March 9, 2001. I also request review of the NO Vs by the Boazd, so that we might present our defenses to the NO Vs themselves, address any remaining issues regazding the abatement period, and disWSS possible alternatives for resolving this matter. I would welcome the opportunity to discuss this matter fiuther with you. D0313672.1