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~~~ <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: 13031 866-3567 <br />FAX: (3031832-8106 <br />September 29, 1999 <br />Mr. Tom Hendricks <br />Hendricks Mining Co. <br />P.O. Box 653 -Caribou <br />Nederland, Co 80466-0653 <br />RE: Increase to Financial Warranty for 1 LO Pemut No. #M-77-410, Cross Mine <br />Dear Mr. Hendricks, <br />DIVISION OF <br />MINERALS <br />GEOLOGY <br />RECLAMATION <br />MINING•SAFETY <br />B~II Owens <br />Governor <br />Greg E Watcher <br />Ezecutire Director <br />Michael 8. Long <br />Division Dueclor <br />After the inspection of your 110 site, Permit No #M-77-410, Cross Mine, for a possible succession of <br />Operator by Calais Resources in August, the required financial warranty for your site was found to be <br />$15,100.00, and increase of $10,600.00. At this time, Calais Resources has yet to post a new financial <br />warranty with the Division of Minerals and Geology (DMG) and thus succeed to [his pernlit. DMG has <br />reviewed your file in light of this failure to post bond by the Successor, and determined that according to <br />Rule 4.2.1(1) and (2) of the Construction Materials Rules and Regulations, "the Financial Warranty will <br />be set and maintained at a level which reFlects the actual current cost of fulfilling the requirements of the <br />Reclamation Plan" <br />At this time, Hendricks Mining Co. has 60 days from [he date of this letter to post sufficient bond to <br />complete reclamation at the site, or complete reclamation equal to the difference in the financial <br />warranty. Should adequate warranty fail to be received by the Division by November 29, 1999, and if <br />there is no increase to the reclamation work completed at the site, the current Operator may risk being <br />found in violation of C.R.S. 34-32.5-117(4)(b)(1) for failure [o post adequate warranty for .t mining <br />permit. <br />The attached cost estimate outlines the calculated costs of completing reclamation at the site as it now <br />exists. If you have any questions, please call me a[ (303) 866-3567. <br />Sincerely, <br />Christina L. Kamnikar <br />Environmental Protection Specialist <br />STATE OF COLOlZADO <br />Cc: Carl B. Mount, DMG <br />Barbara D. Chiappone, DMG <br />