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SGSI <br />Analysis Report <br />October 17, 2011 Page 2 of 2 <br />New Elk Coal Company <br />122 West First St. <br />Trinidad, CO 81082 <br />USA <br />Client Sample ID: Pond 1 Date Sampled : 03/15/2010 <br />Date Received: 03/16/2010 Project Name/0 : New Elk Coal <br />Matrix: Surface Water Sample Taken By : ' R. Thompson <br />Sample Type : Grab <br />Time Sampled : 1430 <br />SGS Minerals Sample ID: 072 -44581 -001 <br />REPORTING ANALYZED <br />TESTS RESULT METHOD LIMIT DATE / TIME ANALYST <br />pH Temperature 20.5 °C SM4500 -H B 03/16/2010 1640 KK <br />Sodium Absorption Ratio 30 Calc 0.01 <br />Solids, Total Suspended <5 mg/L SM2540 D 5 03/22/2010 0945 ST <br />Sample Notes: <br />Added Analysis: PD. Copper and PD. Cadmium, and Bicarbonate <br />Method Reference(s): <br />"Standard Methods for the Examination of Water and Wastewater", 18th Edition, 1992; APHA- AWWA -WEF <br />"Methods for the Determination of Metals in Environmental Samples ", EPA/600 /4- 91/010, June 1991 <br />eratio/ Somer Rodriguez, Denver Laboratory <br />SOS North America ho. Minerals Services Dhision <br />4885 Paris St Suite 8.200 Denver CO 80230 t (303)373.4772 if (303)373 -4791 www.sgs,comAninerals <br />lukmberof SOS Group <br />This document is issued by the Company under its General Conditions of Service accessible at http: / /www.sgs.com/lerms_and conditions.htm Attention is <br />drawn to the limitation of liability, indemnification and jurisdiction issues defined therin. <br />Any holder of this document is advised that information contained hereon reflects the Company's findings at the time of its intervention only and within the limits <br />of Client's instructions, if any. The Company's sole responsibility is to its client and this document does not exonerate parties to a transaction from exercising all <br />their rights and obligations under the transaction documents. Any unauthorized alteration, forgery or falsification of the content or appearance of this document <br />is unlawful and offenders may be prosecuted to the fullest extent of the law. <br />