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-JUL•25 2U01 11:49RM QURKER CORL COMPRMY <br /> <br />824 Euclid Aveaue, Stine 102 Leringtoq Kentucky 40b02 • (8b9) 895~90fi • Fa= (869) 336-6166 <br />July 19, 2001 <br />State of Colorado <br />Office of the Attorney General <br />Attn: Robert Gark -Assistant Attorney General <br />1525 Sherman Street, 5"' Floor <br />Denver, CO 80203 <br />Dear Mr Clark, <br />Ethan Fogel has contacted me and asked me to provide some additional documentation to you <br />concerning reclamation worts to be pertorned on the Colorado operations. In our curent Flve <br />Year Business Plan, we have provided for more than $1.4 million to be spent on redamation of <br />the Colorado sites. I have endosed copies of the relevant segments of our detaled business <br />plan models to evidence that treatment Let me briefly describe them to you. <br />Exhibit A -End of Mine Spending. This is a detailed schedule of reclamation <br />expenditures planned by period. The Colorado properties are highlighted. The total . <br />expenditures are carried forward to our Balance Sheet model. <br />Exhibit B - Balance Sheet'Details. This model shows the activity in each of our balance sheet <br />accounts. The total act'nrity in the Accrued Reclamation line Is highlighted showing accruals for <br />current mining increasing the liability and expenditures decreasing the liability. The total <br />expenditures agrees with the total End of Mine Spending total for each period. The' difference <br />between the spending and accruals is the activity far the period and is carried forward to the <br />Cash Flow Statement. , <br />Exhibit C -Cash Flow Statement. This schedule is the cash flow statement proposed in the <br />Five Year Business Plan. These models were the basis inr the finandals in the disdosure <br />statement and the basis for information sent to prospective exit financing lenders. Please note <br />that the change In the reclamation liability line correspond In the net change noted on the <br />Balance Sheet details in Exhibit B. <br />If you have any questions or require additional explanation of how these models ere related, <br />please feel free to contact me at (859) 422-1237. <br />Sincerely, - _ <br />,~ ~:--- <br />Dennis V. Swan • <br />Acting Chief Financial Officer <br />Attachments <br />Cc:. Ethan Fogel - Dechert, Price 8 Rhodes <br />rAAtFce Jamison -Quaker Coal <br />