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• III <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />131 3 Sherman SL, Room 215 <br />Den.•er, Colorado 80203 <br />Phone: (3031 86h-3567 <br />FA%: (3031 832-8106 <br />November ]0, 1997 <br />Roger Srnitlt <br />International Uranium (USA) Corp. <br />HC 64 <br />Box 153 <br />2555 No. Hwy 89A <br />Fredonia AZ 86022 <br />IIIIIIIIIIIII III <br /> <br />STATE OF COLORADO <br /> <br />DENVER OFFICE ~~~ <br />PUBLIC FILE COPT! DEPARTMEI~7TOF <br />FILE:_ iw- }~ - 2,8 s NATURAL <br />RCES <br />O <br /> RES <br />U <br />SITE:_5~~..~~ _ <br />Roy Romer <br /> Governor <br /> fames 5. Lochhead <br />Executive Direnor <br /> Michael B. Long <br />Division Director <br />Re:Pennit Nos. M-77-285 (Sunday Mine), M-77-416 (Carnation Mine), M-78-039 (Saint Jude <br />Mine), M-80-055 (Topaz 1\~ine), 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 Michelle F:eltmann, 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 oI'full <br />reclamation and that bond increases must be submitted within 60 days of agreentem: on final <br />figures. Admittedly this appears to be an open-ended timeframe, but I must stress rtt 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 oi~bond. Rule <br />4.2. ](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 own <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 maybe extended up to another 60 days. <br />In this case, to first 60-day period expired on October 15, 1997. The Division expr°cts 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 />