2007-08-14_REVISION - M1982020

• Permit No: M1982020
• IBM Index Class Name: Revision
• Doc Date: 8/14/2007
• Doc Name: Financial Warranty
• From: DRMS
• To: Bob Gydesen
• Type & Sequence: SO1
• Media Type: D
• Archive: No

STATE OF COLORADO
DIVISION OF RECLAMATION, MINING AND SAFETY "
Department of Natural Resources
1313 Sherman St., Room 215
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
August 14, 2007 v
Bob Gydesely/ '•~
502 S. Wisconsin St.
Gunnison, Colorado 81230
~~-~ / ~,~
'AUG I ~~ 2007
Division of ~.,._._ ....uon,
Mining and Safety
COLORADO
DIVISION OF
RECLAMATION
MINING
- &-
SAFETY
Bill Ritter, Ir.
Governor
Harris D. Sherman
Executive Director
Ronald W. Cattany
Division Director
Natural Resource Trustee
,i ~ / ~
RE: Lucky Strike Lode, M-1982-OZO, Fina7cial Warranty Update and Notice of Increase, SO-Ol.
Dear Mr. Gydesen:
In an effort to ensure the financial warranty remains adequate to reclaim this site per the requirements of
the approved reclamation plan, DRMS has updated the reclamation cost estimate (copy enclosed). As
part of the Succession of Operator application, Option A was selected which required the Division to do
an update of the Financial Warranty. Clearly, the site is currently under-bonded. If the SO applicant
submits the proper warranties the SO will be approved and you are under no further obligation in this
matter. However, should the SO application fail to be initiated the current permit holder is required to
post the recalculated bond for the site. Therefore, pursuant to Section 34-32.5-117(4) of the
Colorado Land Reclamation Act, adequate fmancial warranty must be submitted to DRMS within
60 days of the mailing date of this report. The increase needs to be accepted prior to 10/15/07. Please
review the enclosed figures as soon as possible and contact our office if any calculation errors are noted.
The Division holds a $9,100.00 bond. The recalculated bond is $39,141.00, this is an increase of
$30,041.00. The increase is largely due to the fact that no updates have been done since 1993. Inflation
is the primary cause for the increase. You may either submit a rider to the original warranty or submit a
new one for the total amount. If you have any questions regarding the warranty forms please contact
Elizabeth Shelton in the Denver Office at 303.866.4084.
If you need additional information, please contact me at the Division of Reclamation, Mining and
Safety, Grand Junction Field Office, 101 S. 3rd St., Suite 301, Grand Junction, Colorado 81501,
telephone no. 970.241.1117.
Sincerely,
G. Rus 11 Means
Environmental Protection Specialist
Co: Carl Mount, Senior Environmental Protection Specialist, North Team Supervisor (e-mail)
Sent by Certified Mail
Offce of Office of
Mined Land Reclamation Denver Grand junction Durango Active and Inactive Mines