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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) 832-8106 <br />September 27, 2005 <br />Ed Stewart <br />Valco Concrete <br />P.O. Box 837 <br />Gunnison, Colorado 81230 <br />RECEIVED <br />OCT 0 3 2005 <br />Division of Minerals and Geology <br />Re: Rozman Pit, Permit No. M-1981-014, Financial Warranty Review, SI-02. <br />Dear Mr. Stewart: <br />COLORADO <br />DIVISION OF <br />MINERALS <br />GEOLOGY <br />RECLAM ATIO N•N IN ING <br />SAf ETY•SC IENCE <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />Ronald W. Cattany <br />Division Direcor <br />Natural Resource Trustee <br />In an effort to ensure the financial warranty remains adequate to reclaim this site per the <br />requirements of the approved reclamation plan, DMG has updated the reclamation cost <br />estimate (copy enclosed). Clearly, the site is currently under-bonded. Therefore, <br />pursuant to Section 34-32.5-117(4) of the Colorado Land Reclamation Act, <br />adequate financial warranty must be submitted to DMG within 60 days of the <br />mailing date of this report. The increase needs to be accepted prior to 11/28/05. <br />Please review the enclosed figures as soon as possible and contact our office if any <br />calculation errors are noted. <br />The Division of Minerals and Geology has reviewed the bond based on current <br />conditions and any reclamation completed. The site was recently found to be in <br />compliance with its permit and similar in condition to the February of 2002 update. <br />Therefore, staff updated the bond using accepted volumes and tasks from that update. No <br />one task is responsible for the noted increase, but rather inflationary creep on all of them. <br />Staff calculates the Financial Warranty necessary for reclamation of the site is now <br />$119, 492.00. This is an increase of $11,406.00 over the $108, 086.00 currently held by <br />the Division. <br />If you need additional information, please contact me at the Division of Minerals and <br />Geology, Grand Junction Field Office, 101 S. 3rd St., Suite 301, Grand Junction, <br />Colorado 81501, telephone no. 970.241.1117. <br />Sincerely, <br />c./1- z~~~a~ <br />G. Russell Mean <br />Environmental Protection Specialist <br />