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RECEIVED <br />Page 2 <br />Mr. Berhan Keffelew APR 1 0 2003 <br />April 9, 2003 <br />Division of Minerals and Gealo~y <br />Reclamation anticipated during the upcoming year: Approximately 20 acres of miscellaneous sites <br />consisting of topsoil stockpiles, construction sites, and miscellaneous mining activity areas are <br />planned to be reclaimed this year. <br />Financial Warranty: <br />Per 2CCR 407-1, 407-4, and Rules 1.15(1)(a), St. Paul Fire and Marine Insurance Company Corporate <br />Surety Bond No. (in the amount of $33,331,600) has been accepted by the Division. On <br />September 25, 2002, the Division accepted a Letter of Credit through Scotia Bank in the amount of <br />$1,449,306 (Letter of Credit No. for a total financial warranty of $34,780,906. This bond <br />continues to demonstrate the sufficiency of the value of the Financial Warranty. <br />Per 2CCR 407-1, 407-4, and Rules 4.7(3), the insurance company's most recently available balance <br />sheet is attached, demonstrating that the Surety Bond does not exceed ten percent (10%) of the bank's <br />capital surplus accounts. <br />Designated Mining Operation: <br />Per 2CCR 407-1, 407-4, and Rules 1.15(1)(c), monitoring information required as part of the approved <br />permit application and Environmental Protection Plan is routinely submitted to the Division. <br />Please do not hesitate to contact me at (719) 689-4056 if you have any questions <br />Sincerelt <br />.~-- <br />Phil Ba es <br />Manager, Environmental Resources <br />Enclosures <br />xc: Teller County Planning Department <br />