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<br />The last mid-term review reported the bond liability as being <br />$1,455,000 which was incorrect. The liability was calculated by <br />subtracting the phase I reduction amount ($855,000) from the total <br />bond on file ($2,300,000). The liability should have been <br />calculated by subtracting the phase I release amount of $855,000 <br />from the reclamation liability amount at that time which was <br />$2,223,313 (not $2,300,000), leaving the balance of $1,368,313. <br />The current liability is based on the fact that H-G has not applied <br />for phase II bond release and has not re-adjusted the liability <br />since selling the H-G loadout The liability at the mine site is <br />actually far less than the amount we have on file, however until <br />H-G applies for and is granted phase II bond release and/or the <br />liability associated with the loadout is adjusted, the Division is <br />obligated to retain the current reclamation liability of <br />$1,368,313. <br />The Division is requesting a revision be submitted that reflects <br />the actual reclamation liability after deleting that portion <br />associated with the loadout. Once it is clear exactly what that <br />amount is, the liability will be adjusted and if H-G chooses to, <br />additional bond monies could be released. If H-G does not want to <br />reduce their bond, at least it will be clear what the reclamation <br />liability is after phase I bond release and after adjusting for the <br />sale of the loadout. Once this revision is approved the proper <br />public notification for liability releases will be followed for <br />that portion associated with the loadout. <br />