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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866.3567 <br />FAX: (303) 832-8106 <br />May 5, 2005 <br />Miss Maureen Jacoby <br />Project Manager <br />Banks and Gesso, LLC <br />720 Kipling ST, Suite 117 <br />Lake wood, Colorado 80215 <br />RE: Request for Clarification Regarding Bond and Permit <br />Stipulation #2, Permit # M-2004-013. <br />Dear Ms. Jacoby: <br />COLORADO <br />DIVISION OF <br />MINERALS <br />GEOLOGY <br />RECLA M ATIO N•NINING <br />SAfETT•E LIEN CE <br />Bill Owens <br />Governor <br />Russell George <br />Ezecuiive Director <br />Ronald W. Catlany <br />Division Director <br />Natural Resource Tms[ee <br />The Division has received your request for a clarification <br />of Stipulation # 2 for permit approval M-2004-013 submitted <br />on 5/4/05. The 25 acres restriction for the mining area was <br />based on the fact that Brannon Sand and Gravel did not have <br />the water rights to backfill the pit. Initially your mining <br />plan was for 80 acres. When the financial warranty was <br />calculated to backfill the pit at least 2 feet above water <br />line, it warranty was over $3,000,000.00. The detailed <br />financial warranty calculation was sent to you at that <br />time. In your response to our adequacy letter EXHIBIT "L" <br />dated 5/18/2004, you responded The Division's bond <br />calculation comes to approximately $14,285 / acre to <br />backfill above water table. The applicant requests a <br />partial bond for the first 25 acres of mining {about 5 <br />years) or an amount of $367,125.00(with out the indirect <br />cost). After this time, the applicant will submit a <br />Technical Revision for the next phase of disturbance, and a <br />new financial warranty will be submitted to cover the <br />subsequent phase of disturbance". <br />That was why the 25-acre maximum disturbance was put in <br />place. If you have the water substitute supply plan to <br />cover the entire 80 acres, the financial warranty can be <br />Office of Office of Colorado <br />Mined Land Reclamation Active and Inactive Mines Geological Survey <br />