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~e <br />June 2, 1983 <br />RECEIVE® <br />Ms. Carol Russell <br />Reclamation Specialist ,, <br />Mined Land Reclamation Division `'' ~~~- 1983 <br />423 Centennial Building MINEp LgNp RECLgMATIQN <br />1313 Sherman Colo. De <br />Denver, Colorado 80203 pt. of Natural Reseurce~, <br />Subject: Phase II Reclamation Bonding Adjustments <br />Dear Carol: <br />303/784-8891 <br />This report is intended to provide the existing pit size evaluation <br />and to update Reclamation Bonding Information for you to review. <br />A calculation to include twelve (12) sections for the existing 1,650 <br />foot long pit, indicating that a total of 263,971 B.C.Y. opening has <br />been opened up as of May 31, 1983 (for details, see the attached data <br />sheet and Map of Existing Pit Evaluations - May 1983). <br />GEC Minerals, Inc. currently has a $300,892 performance bond filed <br />with the Colorado State Mined Land Reclamation Division for the <br />operation of Phase II Area, which was based on a "Worst Case" to <br />make sure a total of 356,778 B.C.Y. of material to be backfilled <br />to include grading, topsoiling, and revegetation as well. The overall <br />cost will be averaged $0.84/cubic yard for Phase II operation. Accord- <br />ingly, to update the existing Reclamation Bonding, the following are <br />stated: <br />Description Volume C.Y. Bonding ($) $/C.Y. <br />Approved Phase II Area <br />- West Pit 187,778 157,734 <br />- East Pit 169,000 143,158 <br />Total '356,776 300,892 0.84 <br />Newlin Creek <br />Put up Bond for West Pit - 18 month possible u/g Entrance options <br />W~~ 1"'~ 142,000* 119,280 0.84 <br />Current Pit -- ~~ ~ p ~ 263,971 221,736 0.84 <br />*the volume was surveyed in Y~5/9 ~~ <br />• III IIIIIIIIIIIII III <br />• <br />GEC MINERALS, INC. <br />FLORENCE, COLORADO 87226 <br />P.O. BOX 228 <br />