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<br />~~ <br />State of Colorado <br />Division of Minerals & Geology <br />Deptutment oFNatural Resources <br />1313 Sherman St. Room 215 <br />Denser, Co 80203 <br />Re: I { 2 Pemut #M87088 Hubbs Pit <br />~~ <br />October 20, 1999 <br />We have completed Phase I except for the northern tip. It will either never be excavated or when we are in <br />Phase fV it will be completed. <br />We have 75;'0 of Phase II completed. In the year 2000 we will complete the excavation of Phase D and <br />reclaim the West and South boundaries of Phase ^. <br />Sincerehy,~~~,~. <br />""' <br />~.'~ <br />Barbara Hubbs <br />Ted R. Hubbs Family Ttust <br />