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-iii iiiiiiiiiiiiiiii <br />999 <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />131 7 Sherman St., Room ? I S <br />Denver, Colorado 110203 <br />Phone 110]1066-3567 <br />FAX 1}031 OS?8106 <br />March ? I,'_00l <br />Keith Sieber <br />Bowie Resources Limited <br />1855 Old Highway 133 <br />Paonia, CO 81428 <br />~..- <br />DIVISION O <br />MINERALS <br />bt- <br />GEOLOG'e <br />RECLAMA710 t. <br />MI NING•SAFETI <br />Hill Owens <br />Governor <br />Greg E. Walther <br />Executive Dtiecwr <br />Re: Letter of Credit No. F Michael n. Long <br />Bowie No. 2 Mine, Permit No- C-96-083 oivision oireciur <br />Bowie No. 1 Mine, Permit No. C-81-038 <br />Dear Mr. Sieber: <br />To get the Irrevocable Standby Letter of Credit No. F in compliance the Following must be done: <br />I) Two Federal Reclamation Bond Forms for a Letter of Credit must be filled out and signed by Bowie Resources <br />Limited. Forms enclosed <br />2) Irrevocable Standby Letter Of Credit No. must be broken up into two Letters of Credit with the <br />appropriate language (see Sample Letter of Credit). <br />Bowie No. 2, C-96-083 - $5,000,000 <br />Bowie No. 1, C-81-038 - $1,000,000 <br />3) The Division needs a balance sheet certified by a CPA (Bank's Annual Report) from UBS Wazburg. <br />4) Since this bank is not located in Colorado, this Letter of Credit must be confirmed or exercised by a affiliate or <br />subsidiary located in Colorado, with a letter from the Colorado bank (address in Colorado) confirming the: <br />iRLOC. This is by Rule 3.02.4(2)(d)(i). We will also need a balance sheet Ecom the Colorado bank. <br />A sample of a confirming bank letter is enclosed. <br />If you have any questions please don't hesitate to call me at (303) 866-3968 or David Berry. <br />Sincerely, <br />~cc;~,i~~ ~ ~Jvit,e~~ <br />Jo nna Cramer <br />Program Assistant <br />Enclosures <br />Cc: Joe Dudash <br />David Berry <br />