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<br /> <br /> <br />ANNUAL REPORT FOR B STREET PROJECT-NORTH PIT <br />August 24, 2001 <br />File: Classic S & G/Ann. Report, N-O1 <br />All processing of material on the site has ceased and tl~e screen plan has been sold. The <br />material on the site was not of acceptable quality to justify the processing. We do plan <br />however to utilize the site to store excess material from projects, and to make such <br />material available for sale to entities needing fill material. Some native material may also <br />be removed, but no processing will occur. <br />Reclamation may occur in [he existing mined azea, either in the form of applying some of <br />the overburden and seeding, or developing the land for multiple uses, the ultimate <br />reclamation. We are in the process of developing land plans for the site and have <br />submitted a plan to EI Paso County. This area is planned for an apartment site and we <br />plan to begin construction of the necessary infrastructure in 2002. We will cease our <br />mining activity at that time, but will maintain our reclamation bond until the site is <br />satisfactorily reclaimed. <br />