2008-04-21_REVISION - M1999004 (3)

Home Browse Search

DIVISION OF ,N~NER~LS AtiD GEOLOGY department or Natural Resources 1 31 ~ Sherman SL, Room 1 . ~ Den;er, Colorado SC'03 Phone: ;3~:,3, 856-3,0' FS>: 3u3) 3s: ~' ~~5 STATE OF COLORADO FNA?~CL~L ~Z-ARR4tiTY ~~~ ~iqy F`~ Qj`'s'O4 f~ ~® CERTFIC.aTIO'~ 0: of~~o SET ~~-ORTH A\D e~a~~o CERTIFIC.aTION OF FLED ASSETS odCoo~os Operator: Continental Materials Corporation Operation: Table Mountain Quarry Pertrst No.: M-] 999-004 KtiOW ALL I~1EN BY THESE PRESENTS, TH.~T: ~~ D I V I S I O N O F MINERALS GEOLOGY RECLAMATION MiNlhv'•SAfE7Y i Bill Owens Governor Cr~~ ~. :.~a IC'~r Sxec;...~:e ~ __.c;r nonai~ `v1'. Caran~ Acting Division Director ~ za 2, ~~i 3 -c~~ WHEREAS, the Colorado IVlined Land Reclamation Act, C.R.S. 1973 34-32-101 et sue. (the ':4ct"), as amended, provides that no permit may be issued under the Act until the Mined Land Reclamation Board (the "Boadd") receives a Financial Wananh• (or Warranties) as described in the Act. Continental Materials WN~REAS, Corporation (the "Operator"), a Delaware applied for a permit to conduct a mining operation Imown as Table Mountain Quarr ~corporatior., has certain lands in Fremont County, Colorado. These lands are described in the p termit0appl catoion and are referred to herein as the "Affected Lands". V6'E~REAS, as part of the application for the pernvt, the Operator has agreed to be bound by ail requirements of the Act and al] applicable rules and regulations of the Board, as amended from time to time. V4T-~REAS, in its application for the permit, the Operator has agreed with the Boadd to provide for reclamation of the Affected Lands that are now or may become subject to the permit, as required by law. ~%~iEREAS, the Board has determined, in accordance Hith the Act, that the estimated costs of reclamation of the Affected Lands are those amounts for the stated periods of time as set forth in Exhibit B hereto. which may be amended from time to time to reflect revised estimates of said costs of reclamation, - WT~REAS, the Board has determined that the Financial Warranty by the Operator equals the estimated costs of reclamation, as approved by the Boadd, with regard to the Affected Lands. WHEREAS, as proof of its financial responsibility, the Operator has proceeded pursuant to C.RS. 1973, 34-3?-117(VIl)(.~)(B)(C)(D) of the Act and has submitted a certified financial statement for the Operator's most recent fiscal year, attached hereto as Exhibit C, and a certification by an independent auditor, attached hereto as Exhibit D, that as of the close of said fiscal year: a. the Operator's net worth n•as at least ten million dollars and was equal to or heater than [wo times the amount of this Financial Wan'ant<~ (or Warranties); b. the Operator's tangible fixed assets in the united States here worth at least tlveniti• million dollars;