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Exhibit L <br />RECEI~!FD <br />Reclamation Costs AUG 2 3 2006 <br />Division of Reclamation, <br />Mining and Safety <br />The cost of reclamation is a difficult cost to project on a site that will remain <br />in business for many years, but the Owners submit the following information. The <br />table below tries to itemize the different steps necessary to reclaim the ground to <br />native vegetation that was originally on the site. <br />Table A -Itemize Reclamation Costs <br />Item Descri tion Quanti Unit Cost Cost <br />1 Site clean-u 10,000 c $0.50/c 5,000 <br />2 Over lot radin 36,600 c $0.40/c 14,520 <br />3 Seedin 30 ac $700/ac 21,000 <br />4 Total $40,520 <br />Note: Quantity are based the requirement to reclaim 30 ac of disturbed ground. See attached <br />current air photo. <br />As part of the current operation the Owners have posted with the State of <br />Colorado a bond with the value of $14,000. The value of the product mined is a <br />function of the material mined and although it is generally believed to be mostly <br />sands with some gravel's, the value is as yet underdetermined. The actual <br />quantities are unknown and the market conditions that set the retail value of the <br />material are unknown at this time. <br />The value of the mining equipment that has been brought and/or <br />manufactured on-site over the life of the operation is approximately $900,000.oo. <br />