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i • ~~~ ~~~~~~~~~~~~i ~~~ <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Depanment of Natural Resources <br />1313 Sherman Si., Room 215 <br />Denaer. Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (3031 83?8106 <br />November l0, 1997 <br />Roger Smith <br />International Uranium (USAj Corp. <br />HC 64 <br />Box 153 <br />2555 No. Hwy 89A <br />Fredonia AZ 86022 <br />L ., ~ ,.. t ,'.~ C <br />(~ L. t.+i_i V 'r' iLE COPY DEPARTMEtJ7' OF <br />FILE: M~Bi~ozl NATUR~I, <br />f A/ ~ ,Q ~ RESOURC:ES <br />SITE. "_ ~~ ~~"x^~ , Roy Romer <br />Governor <br />lames 5. L«hhead <br />Execmive Director <br />nlichael B. Long <br />Division Director <br />Re Permit Nos. M-77-285 (Sunday Mine), M-77-416 (Carnation Mine), M-78-039 (Saint Jude <br />Mine), M-80-055 (Topaz Mine), and M-81-021 (West Sunday Mine), Recalculated Reclamation <br />Costs. <br />Dear Mr. Smith, <br />The above-named sites were inspected on 7/10/97 with attention given to the current disturbance <br />and the approved reclamation plans, in order to recalculate the required amount of financial <br />warranty. On 8/15/97 I mailed copies of these recalculations to you and A2ichelle Relunann, and <br />I have since been in touch by phone with both of you. My letter which accompanied the bond <br />recalculations stated that the figures represent the Division's estimate of the cost of full <br />reclamation and that bond increases must be submitted within 60 days of agreement on final <br />figures. Admittedly this appears to be an open-ended timefrante, but I must stress at this point <br />that this matter must be wrapped up quickly. To-date I have not received anything regarding the <br />increased bonds or written response from you. As a reminder, four of the five sites named above <br />had increases in the recalculated bonds. <br />Hard Rock/Metal Mining Rule 4.1(7) states that the operator must maintain their bonds in good <br />standing for the life of the mine. This includes the aspect of an adequate amount of bond. Rule <br />4.2.1(1) and (2) state that the: bond must be maintained in an adequate amount to perform all <br />reclamation and that the operator has up to 60 days to provide any bond increase the Division <br />deems necessary. As a matter of policy, the Division has allowed the operator to provide his o~vn <br />calculations of the needed bond amount, typically during those first 60 days. If final figures <br />cannot be reached during that time, then the time frame may be extended up to another 60 days. <br />In this case, to first 60-day period expired on October 15, 1997. The Division expects that the <br />bond amounts requiring any increase will be submitted no later than December 15, 1997, <br />regardless of any figures which may forthcoming from the operator. If you have any questions, <br />please contact me at the following address: <br />