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James B. Holden <br /> Page 3 <br /> On the land exchange subject, Sanwa' s commitment letter <br /> states that the proceeds from the land exchanges should total <br /> about $1 .4 million. The amount you assert is needed to satisfy <br /> Class 5, 6, and 9 claims is about $1. 9 million. If this is so, <br /> why does Minerals need to borrow $2 million at this time? The <br /> deficiency between the land exchange proceeds and the amount <br /> asserted to be needed to satisfy the liquidation plan claims is <br /> only about $400, 000 . Please advise on this subject as well . <br /> Please call me if you any questions. Thank you for your <br /> cooperation in this matter. <br /> Sine e1y, <br /> C RY A. LINDE <br /> Acting First Assistant <br /> Attorney General <br /> Natural Resources Section <br /> (303) 866-5117 <br /> (303) 866-3558 (FAX) <br /> CC : Michael Long, Director <br /> David Bucknam, DMG <br /> Steven Renner, DMG <br /> AG Alpha: nr cl icaby <br /> AG File: P:\NR\NRLINDCA\NRCL4137 <br />