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~~~ ~~~ <br />/ N1-I~j`a(-Z3s <br />"/Webster Sand & Gravel <br />145 S.Totedo <br />Leadville, CO 80461 <br />(719) 486-0427 <br />(phone & fax) <br />Ste- o I <br />RECEIVED <br />JUL 13 2006 <br />Division ~f Minerals and Geology <br />Attention: Erica Crosby and the Colorado Mined Land Reclamation Boazd ~ <br />Division Of Minerals And Geology <br />Department of Natural Resources <br />1313 Sherman St., Room215 <br />Denver, Colorado 80203 <br />July 10, 2006 <br />Re: Request of an Extension to appear before the Board until the August meeting <br />Dear Erica and members of the Colorado Mined Reclamation Board, <br />I would respectfully like to request an extension to appear before the hosed until the August <br />meeting regazding our possibility of violating the conditions of our mining permit . I am making <br />this request because I believe we will be able to fulfill our bond obligation within the next week <br />or so. I informed you, Erica, azound the fast week of June that we had scheduled an auction <br />with United Auctioneers out of Cortez, Colorado at our pit to liquidate much of our equipment to <br />raise the money so that we could set up the collateral bond as a certificate of deposit. This <br />auction took place on June 24, 2006. We sold over $96,000.00 worth of equipment of which our <br />consignment amount came to $88,492.46. I plan on adding the remaining amount of $44,007.54 <br />from cash out of our Welis Fazgo bank account. We aze working with Kevin Brubeck, who is <br />affiliated with American National Bank in Eagle, Colorado. Kevin's phone number is (970) 328- <br />7333. I have e-mailed him the names and phone numbers of both Elizabeth Shelton and Suzi <br />Erickson, bond specialists with the division. I also included hyperlinks to your web page and the <br />web page to download an updated third party CD form. Kevin confirmed that his bank was a <br />PDPA eligible bank and that they have done this type of bond in the past. Currently, I am <br />waiting on United Auctioneers, Jeff Jones and Sandy Springer, to wire the money from the <br />auction. They have our bank account information. They thought they would be able to wire the <br />money sooner but had a couple of problems which held up payment from a couple of companies <br />which bought our equipment. I am including a copy of their business cards, a copy of the <br />contract and the first and last pages of the consignment list. You may also view the list of items <br />auctioned at their web site: www.unitedauctioneets.net. Jeff Jones said he would be happy to <br />talk to you about what we aze doing. The auction contract states that they have fourteen banking <br />days to settle funds. Also noted in the contract is that the payment is guaranteed by a Western <br />Surety Bond # 69998850. Jeff Jones told me today that they will be able to wire the money no <br />later than this Thursday, July 13a'. I am also currently working with our accountants to make <br />sure the CD is set up correctly. Our business is registered as an LLC of which the three trusts <br />from the estate make up complete ownership. I believe we are going to set up ownership of the <br />third party CD as one of the trusts. <br />We have had a couple of major problems which attributed to taking so long in getting this <br />collateral bond set up. First, running the business as an estate with trusts and an LLC is much <br />more difficult to find banks that will work with us on this matter. Being in the middle of funding <br />