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<br /> <br /> <br />PORDSRHORN PROPSRTSE8 COMF~lS <br />APPLIC7ITION FOR LBASB SIISPENS~~i <br />:~. ~: <br />Lessee: Powderhorn Properties Company <br />P.O. BoX 1430 - <br />Palisade, Colorado 81526 ~ ~' <br />a <br />Sublessee: Powderhorn Coal Company <br />P.O. Box 1}30 <br />Palisade, Colorado 81526 _ <br />TYPE OF SUSPENSION REQUESTED: <br />Suspension of operations and production in the <br />interest of conservation under Section 39 of <br />the Mineral Leasing Act ("MLA")~. <br />FEDERAL COAL LEASE NO.: <br />C-024998 ("Lease") <br />SUPPORTING INFORMATION: <br />Powderhorn Coal Company ("Powderhorn") is the operator of <br />the Roadside and Cameo No. 1 Mines in Mesa County, Colorado <br />("Mines"). Because of current market conditions, it is not <br />economically feasible to mine and sell coal from the Mines at <br />this time; as a result, both Mines have been idled. No produc- <br />tion has occurred from the Cameo No. 1 Mine since early 1982, <br />and the Roadside Mine has been idle since October 3, 1986, when <br />its only coal supply agreement was terminated. As a result, <br />except for a minimal quantity of coal sales from an existing <br />stock pile, no coal has been produced and sold from the Mines <br />since October 1986. Thus, although we are optimistic that we <br />will secure new customers for Powderhorn coal, it is not <br />possible for us at this time to predict with any accuracy whe• <br />the Mines will operate again. <br /> <br /> <br />i <br />i <br />i <br />is <br />