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Mr. Berhan Kefflew <br />April 8, 2011 <br />Page 13 <br />Per the requirements of C.R.S. 34-32-116(3), and C.R.S. 34-32.5-116(3)(a): <br />Reclamation accomplished to date: Approximately 310 acres <br />Reclamation accomplished during the preceding year. Approximately 52.4 acres of <br />disturbance associated with the Cresson Project were reclaimed in 2010 as described <br />above. These 52.4 acres includes topdressing with Biosol on 21.5 acres that were <br />reclaimed in 2009. <br />New disturbances anticipated during the upcoming year. Continued development <br />of the Main Cresson, East Cresson (including backfilling in the ECME and Wildhorse <br />areas, and development of the WHEX area), associated haul roads, sediment control <br />measures, topsoil stockpiles, and other ancillary disturbances required to support these <br />activities will continue in 2011. <br />Mining in the Wildhorse area of the East Cresson has been completed and backfilling <br />activities within Wildhorse Mining Area were initiated in 2009. Backfilling in the East <br />Cresson (Altman and Wildhorse portions) will continue in 2011. Other construction <br />activities associated with Amendment No. 9 (including Phase 5 of the VLF) have been <br />initiated and will continue throughout 2011. <br />Reclamation anticipated during the upcoming year. Approximately 25 to 30 acres <br />of miscellaneous sites consisting of topsoil stockpiles, sediment ponds, and exploration <br />disturbances are planned to be reclaimed this year. <br />Reclamation/Closure Liability and Financial Warranty: <br />CC&V and DRMS have agreed on an additional warranty amount for Amendment No. 9. <br />The warranty amount of $54,280,734 will be posted in phases, which is consistent with <br />CRS 34-32-117(4)(b)(1). The first phase, or construction phase, required a warranty <br />which amounted to $36,594,665. It was posted on December 23, 2008. The second <br />phase in the amount of $17,686,069 will be posted once the Phase 5 VLF is constructed <br />and certified in the year 2011. Approximately 25% of the Phase 5 VLF closure cost <br />estimate ($4,420,000) was posted on November 1, 2010 to cover the initial portion of <br />Phase 5. The remainder of the Phase 5 VLF warranty will be applied upon completion <br />and certification of Phase 5.