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Jlllj, ;0~',i <br />BOi70 RELEASE CALCUL;,TI07V5 <br />Tfie follo••.ing Bond Release calcula=ions are based on the Band figures <br />• contained in the mid-term review 9ond reassessment submitted to the <br />pivision on Decec~ber 4, 1985. <br />According to the Cost Summary 3ond, costs for the pit area were as follows: <br />Item °I. Pit Subtotal 53,995,255 <br />Item `VIII. Progressive ?it Recla~r.ation, Subtotal 258,051 <br />TOTAL $4 ,254,316 <br />This figure reflects the total amount calculated for the pit ar=_a during <br />the initial 198?-'_987 rive-year bond period. <br />The applicable portion of t~is bond ar..ount attributed to the ?hzse I Bond <br />Release area is 52'_8,230 and ?hzse II 3ond Release area is 5340,•375. <br />Sixty percent rele_se of the Phase I are. bond leaves 595,?02 bond <br />• liability remaining and 85a release of the ?hzse II area bond leaves <br />5126,071 bond liability rema;n~ng. .he total remaining bond liability will <br />be 5221,363. This amount will be included in the pond for the second five- <br />year ±erm. <br />The remaining area originally covered in the 1982-'_987 five-year bond <br />period is covered by the next five-year bond. ror further details <br />concerning this particular bond, ref=_r to Exhibit ?3, Bonding Infor~~~ation. <br />u <br />