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Cotter provided DRMS with a bonding estimate of $445,413 in the June 1, 2010 Technical <br />Revision request to cover operations until December 31, 2010. The December 31, 2010 date was <br />chosen because as of June 1, 2010 Cotter did not have a way to estimate project duration. <br />Conversations with DRMS personnel June 15, 2010 have allowed Cotter to more accurately <br />predict project duration. <br />The amount in. the June 1, 2010 estimate was based on several very conservative assumptions <br />that, as the project progressed, have now been reevaluated. Cotter will show the previous <br />calculated amount followed by the proposed amount. <br />The following assumptions were used to calculate the financial warranty amount as shown in the <br />table, below: <br />¦ Water treatment is considered a temporary activity and will cease once permanent measures <br />to ensure water quality in Ralston Creek are implemented. Cotter has assumed water <br />treatment will no longer be required after July 31, 2012 because it is expected that the <br />Environmental Protection Plan will be approved by December 31, 2010 and that the DRMS <br />approved long-term corrective actions can be partially implemented in 2011, with completion <br />of corrective actions by July 31, 2012. <br />¦ Cotter is in the process of purchasing the water treatment equipment, so therefore no funds <br />have been allocated for equipment purchase. <br />¦ Mobilization costs have been paid for by Cotter. <br />¦ All equipment decontamination, disposal or shipping for reuse will be bonded under the <br />RML. <br />¦ Resin stripping will be at no cost based on the value of uranium contained in the resin. Costs <br />for shipping the resin are included. <br />¦ If resin disposal is necessary, Cotter feels that such disposal can occur at the Canon City mill. <br />3