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Carter <br />March 4, 2010 <br />Division of Reclamation, Mining, and Safety <br />Department of Natural Resources <br />Attn: Mary Rodriguez <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />Subject: -C-CM=25-Hine Annual -Report -- - -- -- - - <br />File No. M-1977-307 <br />Dear Ms. Rodriguez: <br />The C-CM-25 Mine located in Montrose County, operates under a 110 <br />permit with a permitted acreage of 7.34 acres. <br />A new map is not enclosed, because no changes have occurred since <br />the last annual report. <br />The sufficiency of the financial warranty for the above captioned <br />permit has been reviewed by DRMS and Cotter Corporation and was <br />found sufficient to cover the reclamation costs associated with <br />this property. <br />The annual fee payment of $259 is enclosed. <br />If you need more information, please call me at 970-864-7347. <br />Sincerely, <br />COTTER CORPOP(IATION <br />Glen Williams <br />Vice President of Mining <br />Enclosures <br />DRMSCM25.doc <br />Cotter Corporation - West Slope Operations <br />P.O. Box 700, 28151 DD Road, Nucla, CO 81424 USA <br />Telephone (970) 864-7347 <br />Fax (970) 864-7287