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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 60203 <br />Phone: (303) 866.3567 <br />FAX: (303) 832-8106 <br />COLORADO <br />D I V I S ION OF <br />RECLAMATION <br />MINING <br />SAFETY <br /> Bill Ritter, Jr. <br /> Governor <br />INTEROFFICE Harris Sherman <br /> Executive Director <br />MEMORANDUM Ronald W. Cattany <br /> Division Director <br /> Natural Resource Tnntee <br />TO: Kent Gor <br />Gorham <br />FROM: Jim Star <br />SUBJECT: Deserado Mine's 2007 Midterm Cost Estimate <br />DATE: 9 March 2007 <br />Attached is the reclamation cost estimate for the Deserado Mine's 2007 Midterm Review. <br />The estimate includes the estimates from Minor Revision 129, Minor Revision 130 and <br />Technical Revision 6l, the only three revisions that have included an increase in liability <br />since the estimate was last updated with Permit Revision 04 (approved on 10 October <br />2003). The new liability for the Deserado mine is $5,420,417.00. The revised estimate is <br />$556,935.00 more than their current liability of $4,863,482.00. The revised liability in <br />this estimate is $320,417.00 more than the current bond held of $5,100,000.00. <br />Since this was just a cost update at midterm review, there were no changes to the <br />volumes, haul distances, etc. contained in the previous estimate. All of the cost increases <br />are from increased equipment and materials costs. Based on this estimate, the liability of <br />the Deserado Mine has increased approximately 11.5%. Again, the last time the entire <br />estimate was recalculated was in conjunction with Permit Revision 04, which was <br />approved on 10 October 2003. Attached is a spreadsheet detailing the cost increases. <br />Please let me know if you have any questions or need any additional information. <br />cc: Sandy Brown w/out attachments <br />Office of Office of <br />Mined Land Reclamation Denver T Grand Junction • Durango Active and Inactive Mines