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. ~~ <br />PIONEER <br />SAND COMPANY INC. <br />June 14, 2005 <br />State of Colorado <br />Division of Minerals & Geology <br />1313 Sherman Street, Room 215 <br />Denver. CO 81010 <br />Re: Phillips Ranch Property Gravel Pit #2 <br />1. Current mining consists of approximately 1.5 acres and <br />mining should be complete in fa112005. <br />2. Financial warranty is in the form of a bond, conditions r <br />remain the same and financial warranty is sufficient. <br />Sincerely, <br />'~~~ <br />Mike Ausburn <br />Vice-President <br />P.O. Box 7650 • Colorado Springs, Colorado 80933-7650 • (719) 599-8100 <br />