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STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 <br />January 13, 2009 <br />Mr. George Patterson <br />General Mine Manager <br />Energy Fuels Coal, Inc. <br />P.O. Box 459 <br />Florence, CO 81226 <br />Re: Explanation of Bond Release amount for the Marr Mine, SL4 <br />Dear Mr. Patterson: <br />COLORADO <br />D IV IS I ON OF <br />RECLAMATION <br />MINING <br />SAFETY <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Ronald W. Cattany <br />Division Director <br />Natural Resource Trustee <br />In response to our telephone discussion earlier today, the Division will try to provide additional <br />explanation of the bond liability amount released by the Division with the approval of Bond Release <br />Application No. 4 (SL4). <br />The Division holds a performance bond of $700,270.00 for the Marr Mine and Loadout. The reclamation <br />liability for the Marr Mine permit was $687,268.00 at the time of the Division's midterm review on <br />September 19, 2008. At the time of the Division's September 2008 midterm review, the bond held by the <br />Division was $13,002.00 in excess of the reclamation liability amount required by the Division. <br />The Division has estimated the costs of the remaining reclamation work at both the mine site and the <br />Loadout if the work had to be performed by the Division. This work includes possible reseeding of 8.0 <br />acres at the mine site that were seeded in 1999 (720 Pit) and that have achieved Phase II Bond Release. <br />Reclamation tasks that remain include reseeding the 6.9 acres at the loadout, regrading the loadout pond <br />and associated ditch, and mobilization/demobilization of equipment to conduct the remaining tasks at both <br />the mine and the loadout. The estimated cost of the remaining tasks is $19,619.00. The Division is <br />proposing to release a total of $667,649.00 from the previously required $687,268.00. Since the Marr <br />Mine Permit was previously bonded in excess of the required liability the bond may be reduced by <br />$680,651.00 ($667,649.00 + $13,002.00). The remaining bond shall not be less than the remaining <br />liability of $19,619.00. <br />Please find an enclosed table of the bond release percentages as approved with SL4. I hope this helps <br />explain the bond release amount and the remaining reclamation liability for the Marr Mine Permit. <br />Since{ely, <br />`Janet Bi s <br />viro ental P tecti Specialist II <br />(303 66-3567 ext. 8107 <br />Office of Office of <br />Mined Land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines