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investment in the reserve, WN staked mining claims on the reserve in April, 2004 <br />in order to protect its investment while disposition of the reserve and mineral <br />lease is determined <br />While the Boazd endeavors to deternune final status of the reserve it is wise to begin <br />production from the reserve in order to displace out-of--state gypsum, provide local <br />employment, bring tax and royalty revenue to the state and county, and further develop <br />commercial and agricultural customers. Therefore, WN offers the following solution. <br />1 If the Boazd will issue WN a conditional mineral lease, under the terms of lease <br />number OR3280, WN will withdraw its mining claims on the reserve. The <br />"conditional status" of the lease would state that WN can produce and sell gypsum <br />from the reserve until such time as the Boazd negotiates a new lease with WN or is <br />successful at auctioning the lease at public auction. <br />2 WN will immediately commence producing from the reserve for commercial and <br />agricultural customers, under the terms of the conditional lease. <br />3 The Board may then determine if it wishes to offer the lease for public auction to any <br />interested parties, or if it wishes to negotiate a new lease with WN. <br />4 If the Boazd decides to renegotiate the old lease or negotiate a new lease with WN, <br />WN will continue to mine at the site under the terms of the new or renegotiated lease. <br />5 If the Board chooses to offer the lease at public auction WN will bid on the lease, and <br />if successful, will continue mining gypsum, but will do so under the terms of a new <br />lease. <br />6 If WN is not the successful bidder for the lease, the Boazd may negotiate a new lease <br />with the successful bidder and WN will surrender the conditional lease, cease mining <br />operations, and surrender the property to the successful bidder and lessee. <br />7 If WN is not the successful bidder for the lease, the successful bidder may enter into <br />negotiations with WN for purchase of WN's equipment and/or any other facilities on <br />the mine site, or may choose not to enter into such negotiations in which case WN <br />will remove all equipment and facilities from the site. <br />It is WN's sincere hope that the Boazd will find this offer to be a fair and equitable <br />solution, pending determination of a more permanent solution. We feel that this is a fair <br />offer, and one that will address all of the outstanding issues surrounding this reserve and <br />any controversy over who is right and who is wrong. If this offer is accepted by the Boazd <br />everyone wins, including the citizens of Colorado and Fremont County, and Colorado's <br />school children; this reserve being located on a School Section. If it is not accepted and <br />WN's customer returns to Oklahoma for its gypsum supply, Colorado looses and the only <br />winner is the state of Oklahoma! It simply does not make any sense to allow this <br />opportunity for economic development to disappear for lack of solution to a very simple <br />issue. <br />Please accept this offer so we can put this disagreement to rest and get Oklahoma gypsum <br />out of Colorado and bring the jobs and economic benefits home to Colorado. <br />Sincerely, <br />lam/-sJ. ~ ~~~ <br />