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~- <br />COLORADO DIVISION OF MINERALS AND GEOLOGY <br />'• ~'~+ 1313 Sherman Street, Room 215, Denver, Colorado 80203, (303) 866-3567 <br />SETTLEMENT AGREEMENT <br />NOV/CO NO.: CV-2006-001 <br />MINE: Sanborn Creek and Elk Creek Mine <br />PERMIT NO.: C-1981-022 <br />OPERATOR/PERMITTEE: <br />DATE ISSUED: January 23, 2006 <br />TYPE OF MINE: Underground/Federal <br />COUNTY: Delta <br />Oxbow Mining, LLC <br />ATTENTION: Jim Kiger <br />ADDRESS: 3737 Hwy 133, P.O. Box 535 <br />Somerset, CO 81434 <br />The Division of Minerals and Geology ("the Division") issued a certain Notice of Proposed Amount of Civil <br />Penalty, and the operator requested a conference thereon, as authorized by C.R.S. 1973 34-33-123(8). The <br />requested conference having been held as required by law, on March 21, 2006, the Division and the operator <br />hereby agree as follows: <br />1. The amount of the penalty shal I be $100.00; <br />2. The penalty shall be paid to the Division by the operator not later than 30 days from <br />the date this Agreement is signed by all parties; <br />3. Payment of such penalty by the operator shall constitute a waiver of all further rights <br />to review of such penalty or of the violation on which it is based. <br />This agreement shall not be effective unless signed by the operator within ten days after the closing date of such <br />conference, which date is set forth below opposite the signature of the Conference Officer. <br />If not signed within ten days, the Division will fix the penalty at whatever amount ii deems appropriate. The <br />fixed penalty amount will likely be the original penalty assessment, based on the factors referred to in C.R.S. 1973, <br />34-33-123(8xa). <br />OPERATOR: <br />DATE: <br />By <br />DIVISION OF MINERALS AND GEOLOGY: <br />_ ~~ <br />By <br />/~" nference O ficer <br />DATE:~~ ~ afl.(o <br />By <br />Division Director <br />Penalty Adjustment Reviewed <br />[Rule 5.04.3(4)(c)I <br />CRS 34-33-123(8)(c) and (d) <br />GNV~w [1981032 IRS 30060331 10522a AM <br />