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STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1373 Sherman S[., Room 215 <br />Denver, Colorado 80203 C O L O R A D O <br />Phone: (303) 866-3567 DIVISION o r <br />RECLAMATION <br />FAX: (303) 832-8706 M I N I N G <br /> - &- <br /> SAFETY <br /> Bill Owens <br /> Governor <br />November 16, 2006 Russell George <br /> Executive Director <br />L ndon PCO e Insurance Com an <br />Y P ~' P Y Ronald W. Cottony <br /> Division Director <br />14755 North Outer Forty Road, Suite 400 Natural Resource Trustee <br />St. Louis, MO 63017-6050 <br />Re: New Elk Mine (Permit No. C-1981-012) <br />Bond Release Application No. 2 (SL-2) <br />Bond No. L-1200-C-81-012 <br />Dear Sir or Madam: <br />This letter, as required by Rule 3.03.2(5)(a) of the Rules and Regulations, is to inform you that the <br />Division of Reclamation, Mining and Safety has issued a proposed decision to Approve Bond Release <br />Application No. 2 for the New Elk Mine. This decision will be published in the The Chronicle -News as <br />soon as possible. Publication of the notice initiates a thirty (30) day public comment period. If, within <br />thirty days, there are no requests for an adjudicatory heazing, the decision will become final. <br />The bond for the operation is a Corporate Surety issued by your company (Bond No. L-1200-C-81-012), <br />in the amount of $2,114,649.00. You received notice on December 27, 2005 that the required liability for <br />the New Elk Mine increased. The proposed release amount is $293,090.00, and when subtracted from the <br />required liability of $3,038,059.00 results in a reclamation cost liability amount of $2,744,969.00. <br />Please be awaze that this notification is not a request to initiate any action by Lyndon Property Insurance <br />Company concerning Bond No. L-1200-C-81-012, and is for your information only. Should Picketwire <br />Processing, LLC chose to take action with regazd to this bond release, they will contact you. <br />If you have questions or need additional information, please contact me. <br />Sincerely, <br />~d~~ <br />Kent A. Gorham <br />Environmental Protection Specialist <br />KAG/Jrc <br />cc: Johanna R. Cramer, CDMG <br />Ronald Thompson, Basin Resources, Inc. <br />Office of Office of <br />Mined Land Reclamation AQive and Inactive Mines <br />