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4. Powderhorn operated these mines from the time of acquisition until coal <br />extraction operations ceased on or about December 2, 1999. <br />S. Powderhorn is in the process of reclaiming these mines in accordance with its <br />reclamation plan <br />6. Powderhorn is in full compliance with its Permit. <br />7. Frontier Insurance Company ("Frontier") issued a reclamation performance bond <br />(the "Frontier Bond") for the Powderhorn Mines (Reclamation Bond No. 108486), which was <br />deemed adequate when submitted to the State of Colorado and the federal government. <br />8. On December 14, 2000, the Colorado Division of Minerals and Geology (the <br />"Division") issued Notice of Violation ("NOV") NOV 2000-010, alleging that Powderhorn was <br />no longer in compliance with Division bonding requirements due to Frontier's removal from the <br />United States Department of Treasury's list of approved sureties. <br />9. On April 14, 2001, the Colorado Division issued NOV 200]-005, alleging that <br />Powderhorn was no longer in compliance with Division bonding requirements due to the <br />Colorado Commissioner of Insurance's Order pertaining to Frontier's status in Colorado. <br />]0. Powderhorn timely appealed each NOV to the Colorado Mined Land Reclamation <br />Board (the "Boazd"). <br />11. The Commissioner of Insurance's Order states that Frontier shall "service any <br />existing policies of insurance issued to persons residing in Colorado." As such, the Order directs <br />Frontier to continue to meet the requirements contained in the state and federal statutes and <br />regulations and the terms of the bond itself to continue to service its bond obligations. <br />12. The Frontier Bond remains in full force and effect. <br />13. Neither the Board nor the Commissioner of Insurance has made any finding that <br />Frontier is incapable of paying on its bond or meeting its bond obligations in the event <br />Powderhorn were to default on its reclamation requirements. <br />14. On May 24, 2001, the Board conducted a hearing on the NOVs. <br />] 5. On June ] 4, 200], the Board issued its Findings of Fact, Conclusions of Law, and <br />Order upholding the NOVs, a copy of which is attached to this Complaint. <br />16. The Federal government has taken no action against Powderhorn due to the status <br />of Frontier. <br />2 <br />