Laserfiche WebLink
Estimate <br />e: Remainin Statuto Liabili Pursuant to 3.03.1 3 d - in New Dollars -November 2006 Estimate <br />f: TR-48 Estimate (Old Applicable Amount) -Bond Reduction -Used for Percentages Pursuant to <br />Rule 3.03.1 2 <br />-Old Dollars -Februa 2005 Estimate <br />g: New Applicable Amount -Rule 3.03.1(3)(d) Statutory Liability -This Is the Amount the Division Can <br />Release <br />- Old Dollars -Februa 2005 Estimate <br />h: Bond Reduction + Available Bond Release; This Is the Amount that Will Be Entered on the Coding <br />Form <br />- Old Dollars -Februa 2005 Estimate -Ensures Rule 3.03.1 3 d Statuto Liabili Remains <br />is Percentage of Phase I Bond Release based on Releasing $144,949 of the New Applicable Amount <br />of $2,889,918 <br />- Ensures Rule 3.03.1 2 a Ca of 60% is not Exceeded <br />SUMMARY <br />In conclusion, Picketwire has submitted the proper documentation verifying that 35.14 <br />acres at the New Elk Mine have successfully achieved Phase I bond release. Phase I <br />released areas are clearly shown on maps submitted with the application. Additionally, <br />the Annual Reclamation Report maps will also show the specific areas where bond <br />release has been approved. Bond reduction is also warranted for activities previously <br />approved but never implemented. Office review of the data and field inspection support <br />the contention of the applicant that the reclamation work completed is in accordance <br />with the approved plan. The Division has recalculated costs using current dollars to <br />ensure that the bond retained is sufficient to complete the remaining reclamation at the <br />site. <br />Based on the observations and findings as detailed above, the Division proposes to <br />approve Picketwire's request for a Phase I bond release (SL-02). The reclamation <br />liability will be reduced by $293,090.00, which when subtracted from the current <br />reclamation liability amount of $3,038,059.00, leaves $2,744,969.00 as the required <br />amount of performance bond to be held by the Division and the State of Colorado. <br />Public notice of this proposed decision will be published once a week for two weeks in <br />the Chronicle-News as soon as possible. Any person with a valid legal interest, which <br />might be adversely affected by this proposed decision, may request a formal public <br />hearing before the Mined Land Reclamation Board in accordance with Rule 3.03.2(6). <br />Requests for public hearing must be submitted to the Division in writing within thirty <br />days of the first publication of the public notice. If no hearing is requested, the <br />Division's decision will become final. <br />