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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) 832.8706 <br />November 15, 2005 >/ <br />Mr. Bryce Romig <br />Climax Molybdenum Company ,/ <br />P.O. BOX 68 <br />Em ire CO 80438 <br />RAD O <br />O N O F <br />RALS <br />EOLOGY <br />CIANATION•NININC <br />SAiETY•SCIENCE <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />Ronald W. ('attany <br />Division DIRROf <br />Natural Resource Trustee <br />P <br />RE: Corrected Financial Warranty Increase, Operational and General Clarifications, <br />Henderson ine & Mil , ermU No. M-1977-342 <br />Deaz Mr. Romig: <br />Thank you for pointing out the error in the enclosures to the DMG's October 21, 2005 letter. The error <br />occurred in the reclamation cost line item for task 25b, construction of a water treatment plant at the <br />Henderson Mill. DMG had re-estimated this cost (direct) at $4.5 million, but had failed to input the re- <br />estimated cost in the appropriate estimating worksheets, which still showed the DMG's original <br />estimated cost of $5 million. Enclosed please find two corrected estimating worksheets, which show the <br />amount of required reclamation bond adjusted to $28,502,200.00. This is $9,773,031.00 additional <br />bond over the bonds that DMG currently holds. Bond in this amount must be posted no later than <br />December 3Q 2005 and $220,000.00 of the required bond amount must be provided as cash, certificate <br />of deposit, or irrevocable letter of credit. <br />Thank you faz catching DMG's error, and I apologize for any confusion this may have caused. If you <br />have any questions, please contact me at 303-866-4063. <br />Sincerely, <br />~' l~~-~,.-- <br />Allen C. Sorenson <br />Reclamation Specialist <br />enclosure(s) <br />cc: Bruce Humphries, DMG (via email w/o enclosures) <br />Carl Mount, DMG (via email w/o enclosures) <br />Harry Posey, DMG (via email w/o enclosures) <br />Steve Brown, AGO (via email w/o enclosures) <br />c:~D000ments and Set[ingSWCSVNy DocumentsViendersonclarification corrected bond amount.doc <br />~~~ ~ <br />~.L " ~ Z /~ <br />Office of- - ate, Office of Colorado <br />Mined Land RE~damation Active and Inactive Mines °- Geological Survey <br />