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2000 ANNUAL REPORT FOR SPEER MINING RESOURCE: <br /> PERMIT NO. M-1983-176 <br /> Status of Mining and Reclamation <br /> There have been no mining occurrences or reclamation measures undertaken at the <br /> Speer Mining Resource in the last calendar year. <br /> The Permittee anticipates that in the coming year (2001), Phase One mining will begin in <br /> Areas 1 and 3 of the permitted site. Approximately 5.8 acres will be disturbed during the <br /> first year of Phase One, yielding approximately 190,000 cubic yards of material. <br /> Phase One will see the initial aggregate plant site (Area 2) stripped of topsoil and <br /> overburden and the processing equipment erected on the stripped ground. Topsoil and <br /> overburden will be removed from mining areas in 1 and 3 as well. Also in the beginning <br /> stages of Phase One mining, the existing pond at the southern end of the property will <br /> be enlarged for use as process water and fresh water ponds. Areas in the south-central <br /> portion will be stripped to allow for the excavation of de-watering ditches and sediment <br /> and pump areas. Overhead power lines will be constructed to supply power to the de- <br /> watering pumps and plant equipment. Mining in the first year of Phase One will leave a <br /> minimum distance of 200' from the top of the bank of the South Platte River. Lastly, <br /> construction of the clay lined wall will potentially begin during this period. <br /> The only reclamation that is anticipated at the Speer Mining Resource would occur as <br /> backfilling of the pit edges once mining to near-vertical slopes at the outer mining limits <br /> is achieved. Backflling of the pit slopes will utilize excess salvaged topsoil and <br /> weathered shale bedrock excavated from the base of the deposit. Reclamation <br /> measures will begin only when the outer mining limits of an area are reached, at which <br /> point it will become concurrent with mining operations. <br /> Sufficiency of Value of Financial Warranty <br /> The Permittee holds a Financial Warranty for the site through Employers Mutual <br /> Casualty Company. On November 7, 2000, the DMG approved this in the full amount of <br /> $562,813, a figure sufficient to achieve all reclamation activities under the current permit. <br />