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<br />• All work on the property will be conduced by or ander the direction of <br />Colorado Lien Company. <br />Concurrent with this letter of intent, application is being made with the <br />State of Colorado for a prospecting and mining permit on this property. <br />We would expect the development mining activity to commence in approximately <br />120 days, March 1, 1977. The termination of this work is indeterminate as <br />it will last as long as the requirement for the stone exists and the reserves <br />of quality limestone are available. <br />It is our sincere intent to work in close cooperation with the Salida District <br />Rangers office, and, if desired, we will keep the District Rangers office <br />advised of our progress. <br />Respectfully submitted, <br />J mes k~. Brownhill <br />perations Manager <br />• <br />enc. <br />kad/JEB <br /> <br />