2012-04-10_REPORT - M1980244 - Laserfiche WebLink

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Mr. Tim Cazier April 9, 2012 Page 13 Weed control techniques were implemented within the Cresson Project area in the summer of 2011 and will continue in 2012. Per the requirements of C.R.S. 34 -32- 116(3), and C.R.S. 34- 32.5- 116(3)(a): Reclamation accomplished to date: Approximately 354.5 acres Reclamation accomplished during the preceding year: Approximately 44.5 acres of disturbance associated with the Cresson Project were reclaimed in 2011 as described above. New disturbances anticipated during the upcoming year Continued development of the Main Cresson, East Cresson (including backfilling in the ECME and Wildhorse areas, and development of the WHEX area), associated haul roads, sediment control measures, topsoil stockpiles, and other ancillary disturbances required to support these activities will continue in 2012. Mining in the Wildhorse area of the East Cresson has been completed and backfilling activities within Wildhorse Mining Area were initiated in 2009. Backfilling in the East Cresson (Altman and Wildhorse portions) will continue in 2012. Other construction activities associated with Amendment No. 9 (including Phase 5 of the VLF and expansion of the Squaw Gulch Overburden Storage Area) have been initiated and will continue throughout 2012. Reclamation anticipated during the upcoming year: Approximately 25 to 30 acres of miscellaneous sites consisting of topsoil stockpiles, sediment ponds, and exploration disturbances are planned to be reclaimed this year. Reclamation /Closure Liability and Financial Warranty: CC &V and DRMS have agreed on an additional warranty amount for Amendment No. 9. The warranty amount of $54,280,734 will be posted in phases, which is consistent with CRS 34- 32- 117(4)(b)(1). The first phase, or construction phase, was posted in 2008. The second phase was posted in 2011 once the Phase 5 VLF liner was constructed and certified. The financial instruments listed below currently cover the estimated reclamation and closure costs associated with the Cresson Project through the reporting period. Per 2CCR 407 -1, 407 -4, and Rules 1.15(1)(a), St. Paul Fire and Marine Surety Bond No. in the amount of $33,331,600.00, was submitted to DRMS on July 16, 2004.