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There is a further reason why the proceeds of the § 303 <br />sale of the Machinery and Equipment should be devoted to <br />reclamation and environmental remediation. Frontier Insurance <br />Company ("Frontier") has issued a reclamation performance bond <br />in the approximate amount of $2.6 million for the reclamation <br />work which the Debtor Powderhorn is required to perform in <br />Colorado. However, there is substantial question cahether <br />Frontier will be financially able to pay the bond. This doubt <br />arises from the large losses and small reserves reflected in <br />quarterly reports which Frontier filed with the New York <br />Division of Insurance, the precipitous drop in the stock price <br />of Frontier's parent corporation, and the U.S. Treasury's <br />revocation of Frontier's Certificate of Authority to post <br />reclamation bonds on federal land. Consequently, the <br />taxpayers may need to look to the proceeds of the sale of the <br />Machinery and Equipment in order to fund the Colorado <br />reclamation. <br />vvorvigorously oppose such a motion. See, Point IV below. <br />21 <br />