Laserfiche WebLink
Declaration, ~ 8.) Even if the Debtor Powderhorn had not so <br />notified Colorado, the sale of the Machinery and Equipment <br />renders it impossible for the Debtor Powderhorn to conduct <br />mining operations in Colorado. Therefore, it is only a <br />relatively short matter of time before the Debtor Powderhorn <br />has no more personnel or independent contractors on site or in <br />nearby Grand Junction, Colorado who are capable of performing <br />site maintenance and compliance, including: (a) monitoring <br />and maintaining the site for contingencies like heavy rains, <br />with the resultant heavy runoff; (b) monitoring and <br />maintaining the delicate drainage siphon on the South Mine de- <br />watering system; (c) conducting reclamation; or (d) <br />assisting a third party in conducting reclamation. <br />Therefore, while it is true that the Machinery and <br />Equipment is encumbered with the Lenders' lien, the Debtor <br />Powderhorn is obligated to comply with all applicable <br />environmental and reclamation laws and regulations, and the <br />proceeds of the sale of the Machinery and Equipment are <br />necessary to fund the environmental and reclamation work that <br />the Debtor Powderhorn is required to perform. <br />S The Debtor Powderhorn has not filed a motion for abandonment under 11 U.S.C. <br />§ 559 (a). Creditor Colorado Division of Minerals and Geology would <br />20 <br />