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Section VI <br />Bondtng <br />The Division currently holds bond # 645103557518BCM in the amount of $173,094.00 for <br />reclamation at the Golden Eagle Mine, issued by Travelers Casualty and Insurance Company. <br />This amount is satisfactory to complete any reclamation at the site, including a complete re- <br />seeding and fertilization of the entire disturbed area. The mine has been granted a Phase II <br />bond release for most of the disturbed area south of Highway 12. Details concerning this bond <br />release can be found in the written findings for Bond Release No.3 (SL-03). Rule 3.03.1(2)(b) <br />allows up to 85% of the applicable bond amount to be released upon establishment of <br />vegetation which supports the approved post-mining land use and which meets the approved <br />standard for cover. Based on a March 22, 1996 review of the reclamation cost estimate, the <br />Division concluded the required bond amount to be $1,196,002.00. The currently approved <br />amount of bond held by the Division is $173,094.00. This amount is 14.5% of the March <br />1996 value. Therefore, due to Rule 3.03.1(2)(b), no additional bond can be released prior to <br />final Phase III release in accordance with Rule 3.03.1(2)(c). <br />This concludes the initial phase of the mid-term review process. Please submit a technical <br />revision responding to these issues identified in Section V by March 15, 2002. <br />7 <br />