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<br />EXHIBIT L <br />Reclamation Cost <br />A phased and cumulative bonding approach was approved in Technical Revision #3. The <br />required financial warranty amounts have been updated to reflect the new phasing and new <br />quantities that result from this amendment. Below is a summary table of the financial warranty <br />required for each phase and the cumulative financial warranty required as the mining <br />progresses through the phases. <br /> Additional <br />Financial <br />Warranty <br />Required <br />Cumulative <br />Financial <br />Warranty <br />Phase 1 $ 312,044 $ 312,044 <br />Phase 2 $ 101,812 $ 413,856 <br />Phase 3 $ 151,236 $ 565,092 <br />Phase 4 $ 32,426 $ 597,518 <br />Phase 5 $ 107,398 $ 704,916 <br />Phase 6 $ 111,072 $ 815,988 <br />Phase 7 $ 132,003 $ 947,991 <br />Phase 8 $ 204,462 $ 1,152,453 <br />Phase 9 $ 78,846 $ 1,231,299 <br />Phase 10 $ 66,662 $ 1,297,962 <br />Phase 11 $ 72,284 $ 1,370,245 <br />Phase 12 $ 9,909 $ 1,380,154 <br />Phase 13 $ 41,645 $ 1,338,509 <br />These amounts assume that no reclamation activity has occurred. As each new phase is <br />started, the financial warranty for that phase will be posted with the Division. When a phase has <br />been reclaimed, inspected, and accepted by the Division, the associated financial warranty for <br />that phase will then be reduced/released to 20% of the financial warranty required for that <br />phase. <br />Please see the attached calculations for details of the costs and quantities used to determine <br />the financial warranty required for each phase of mining. <br />M-2001-107 <br />NCCI Pit #1 <br />DRMS 112 Permit Amendment <br />146