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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY / <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 <br />RAD O <br />O N O F <br />RALS <br />GEOLOGY <br />0.EC LAMATIO N•NINING <br />SAf ETT6QEN CE <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />July 22, 2004 ~ Ronald W. Cattany <br />Division Director <br />Natural Resource Trustee <br />Wayne Adams / <br />Valco, Inc. <br />P. O. Box 591 <br />Lamaz, CO 81052 <br />Re: Financial Warranty Increase, SI 1, Wiley Pit, Permit No. M-1977 223 <br />Deaz Mr. Adams: <br />As part of the Division's inspection of the Wiley Pit on June 4, 2004, the required financial <br />warranty (reclamation bond) has been recalculated based on the maximum disturbance allowed <br />by the permit. The Division's reclamation cost estimate and summary are enclosed. The amount <br />calculated by the Division is $48,200.00. Please submit a replacement financial warranty in that <br />amount, or provide $27,600.00 of additional fmancial warranty to the $20,600.00 warranty the <br />Division now holds. The bond you submit must be approved by the Division, by September 21, <br />2004. <br />If you have questions regazding this letter, please call me at (303) 866-4922. <br />Sincerely, <br />/Larry D. Oehler <br />Environmental Protection Specialist <br />~CC: Harry Posey- DMG via a-mail <br />Enclosure <br />CERTIFIED MAIL NO. 7002 2410 0005 9145 5634 <br />Off ce of <br />Office of <br />Ar[ivc and In~rtivc Mincc <br />Colorado <br />Inairal 4wev <br />