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I. _ • • <br />-. '~- _ ~ energy fuels nuclear; inc. <br />three park central • suite 900 <br />1515 arapahoe street • denver, Colorado 80202 <br />May 1, 1995 <br />VIA FAX: (303) 832-8106 <br />ORIGINAL SENT HY U.S. MAIL: May 1, 1995 <br />State of Colorado <br />Division of Minerals and Geology <br />Department of Natural Resources <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />(303)623-8317 <br />twx 910-931.2561 <br />lax 303-595.0930 <br />RF~FlVED <br />!>AY p3 1985 <br />Divig~~o~,wrne,a~s ¢ Gepie9Y <br />Re: Annual Report for Permit No. M-77-285, Sunday Mine <br />The purpose of this letter is to transmit the enclosed annual <br />report for Permit No. M-77-285, Sunday Mine, and to request an <br />extension for paying the 1994-1995 annual fee of $550.00. This <br />extension is requested because Energy Fuels Nuclear, Inc. (EFN) is <br />currently developing funding arrangements for continued operations <br />because of Chapter 11 bankruptcy filing by several Affiliate <br />companies. <br />Petitions for Chapter 11 reorganization under the bankruptcy <br />laws in the federal bankruptcy court for the District of Colorado <br />were filed on February 23, 1995 by the following entities with <br />which EFN has been associated: Oren L. Benton, Nuexco Trading <br />Corporation, Energy Fuels Exploration Corporation, Energy Fuels <br />Ltd., and CSI Enterprises, Inc. EFN, holder of the permit: for the <br />Sunday Mine, did not make a filing, and the mine i-s being <br />maintained in accordance with the conditions of the permit. <br />The sole shareholder of EFN is the Energy Fuels Mining Joint <br />Venture ("EFJV"). The owners of the EFJV are First Concord Mining <br />Company, JRA Enterprises, Ltd., and EF Uranium Group, I1ic. The <br />entity that owns the Sunday Mine, the Hanksville-Blanding Limited <br />partnership ("H-B"), is a Delaware limited partnership. EFN, as <br />operator of the Mine, looks to H-B for funding all costs incurred <br />by EFN for the maintenance and operation of the Mine. In the <br />performance of its duties as operator of the Sunday Mine, EFN does <br />not routinely receive any fund~g from the CONCORD group of <br />A:W RC05195.Iv <br />