2008-11-26_PERMIT FILE - M2008080 (5)

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EXHIBIT L Reclamation Cost A phased and cumulative bonding approach is proposed for the Journey Ventures Pit operation. The financial warranty required for each phase is the warranty required to completely reclaim that phase. The financial warranty required for each phase of mining includes a cost component for the slurry wall liner required to close the current mined area should project be stopped and the operator defaulted. Because the slurry wall liner required to close the current mined area for each phase of mining is replaced with a new slurry wall liner required to close the current mined area component as the next phase of mining occurs, the financial warranty required for this component for the previous phase is credited back in each phase's required financial warranty calculation. This accurately calculates the additional financial warranty required for any given phase of mining and for the current limit of disturbance as well as accounting for the financial warranty that has already been posted to ensure that the Division has sufficient cumulative financial warranty to complete the reclamation. Direct costs related to the construction of the reclamation components that have been included in the financial warranty calculations include: Scarifying disturbed ground surfaces, re-applying topsoil over disturbed areas, revegetating disturbed areas, dewatering the full pit, slurry wall liner construction, and contractor mobilization. The slurry wall liner construction costs have been broken down further to include costs for different depths to bedrock as provided from the DRMS on previous 112 applications. Overhead, profit, and project management costs were then calculated and added to the direct construction costs to arrive at the required financial warranty for each phase. As each new phase is started, the financial warranty for that phase will be posted with the Division. When a phase has been reclaimed, inspected, and accepted by the Division, the associated financial warranty for that phase can then be reduced/released to 20% of the financial warranty required for that phase. Please see the attached calculations for details of the costs and quantities used to determine the financial warranty required for each phase of mining. The following table summarizes the financial warranty required for each phase, and the cumulative financial warranty that will be provided during any given phase. JaT Consultin Inc. Journey Ventures, LLC. ?. Journey Ventures Pit V DRMS 112 Permit Application 137