Laserfiche WebLink
~ W. W. Wheeler and f~ssociates, Inc. <br />Ulater Resources Engineers <br />March 6, 2006 <br />Mr. Bryce Romig, Henderson Mine <br />Climax Molybdenum Company, Henderson Mine <br />P.O. Box 68 <br />Empire, CO 80438 <br />Re: #1070.6 -Updated Value <br />Henderson Mill Water Rights <br />Dear Bryce: <br />The purpose of this letter is to provide an update concerning the market value of <br />Henderson Mill water rights owned by the Phelps Dodge Corporation. Reference is <br />made to my September 2002 report entitled "Valuation of Henderson Mill Water Rights". <br />In my opinion, there have been no substantial changes in the amount of water <br />represented by the Henderson Mill water rights or in the unit value of the water rights. <br />Therefore, the analysis and conclusions set forth in the 2002 report continue to be <br />reasonably accurate and representative of fair market value as of March 2006. <br />I hope this informaiion is adequate for your present needs. Please call if you <br />have any questions or comments. <br />Very truly yours, <br />W. W. Wheeler and Associates, Inc. <br />Gad ry B: Thompson,~~ <br />3700 South Into street Englewood, Colorado BO110 (303) 761-4130 ff1X (303) 761-4804 <br />