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r <br /> discussions. Cost adjustments are being worked out by John Reeves, <br /> Jr. and Bruce Collins. <br /> On December 21, 1992 MLRD issued Notice of Violation for <br /> impermissible discharge of water from 016 sedimentation pond series <br /> on August 18 and 19, 1992. This arose when equipment operated by <br /> M&E/King churned up the tunnel bottom while operating equipment in <br /> the withdrawal of belt hardware. Salvage operations were <br /> terminated on this belt equipment because of the environmental <br /> problem. Abatement requirements include cleaning the 016 pond to <br /> provide additional treatment capacity, the work to be done not <br /> later than March 20, 1993. <br /> Pond cleaning has been suspended until the hiatus <br /> concerning funding is resolved. Jim Holden took the position that <br /> pond cleaning as a repetitious routine environmental maintenance <br /> item does not require Bankruptcy Court approval, whereas Sanwa <br /> indicates they would approve expenditures of up to $10,0000 for <br /> this purpose if approved by the Bankruptcy Court on the conditions <br /> outlined in letter dated December 4, 1992. I am not aware of any <br /> Motion having been filed in the Bankruptcy Court on this. <br /> 4. In addition to pond cleaning, routine maintenance <br /> and security activities which are being carried on, we propose to <br /> request approval during the winter months on the following: <br /> ( a) Disposal of PCB contaminated transformers. <br /> (b) Repair of equipment needed to seal portals and carry <br /> out 1993 reclamation requirements, so as to be ready to <br /> commence when snow melts. <br /> (c) Approval of cost of obtaining appraisal on <br /> Carbondale Industrial Park, Fabrication Shop Tract, and Unit <br /> Train Loadout Tract. <br /> (d) Subdivision of Carbondale Industrial Park. <br /> 5. With respect to sale of the Rock Dust Plant, an <br /> offer of $310, 000 was received for the equipment in the Rock Dust <br /> Plant and the Magnetite Plant. This would exclude the land and <br /> buildings, as well as the Quarry. <br /> No other offers have been received, but the property has <br /> not been widely marketed. A marketing strategy should be promptly <br /> devised. Consideration should be given to M&E's proposal. <br /> 6. Two real estate brokers, Don Sillivan, dba Holiday <br /> West Realty, Inc. and Robert McCormick, dba Crystal River Realty, <br /> Inc. submitted a Listing Proposal at 7$ commission for 6 months on <br /> Coal Basin real estate at a price of $2, 495,000. Jim Holden had a <br /> few suggestions pertaining to the Listing Agreement which I have <br /> submitted to the Brokers. Mention was made that Mr. Seifert may <br /> 2 <br />