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Mr. Jim Dupler <br />September 28, 2011 <br />Page 3 <br />Review of Reclamation Bond Adequacy <br />Pursuant to Colorado Mineral Rules and Regulations Rule 1, Section 1.15(1) (a), the level of <br />financial warranty for the Schwartzwalder Mine has been increased from $1,099,301.50 to <br />$1,218,301.50. The current bond amount is sufficient cover reclamation costs for remedial <br />measures approved to date by DRMS. <br />Please find enclosed a check in the amount $1,150.00 as payment for the annual fee for <br />Reclamation Permit No. M- 1977 -300. <br />If you have any questions or comments, please do not hesitate to contact me at 719 - 275 -7413 <br />(ext 210), or John Hamrick at 719 - 275 -7413 (ext 202). <br />Sincerely, <br />A t,- afe- <br />Randy Whicker <br />Radiation Safety Officer <br />cc: David Bird (DRMS) <br />Gus Gaviotis (Cotter) <br />Amory Quinn (Cotter) <br />