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Coal Basin Questions-3 <br /> PROPERTY SALES BY MID-CONTINENT I �` <br /> Q. Who is markrdM the property under the bankruptcy provisions. How many sales have <br /> there been and to whom? As a creditor does the state get this information? <br /> A. All properties (i.e. holdings of MCR) under contract to be sold that are part of the <br /> bankruptcy estate must be cleared through the bankruptcy court. This area includes <br /> about 6,000 acres of permitted mine and unpermitted area. Any creditor can object to <br /> the sale. All sales so far are recorded in bankruptcy court and local courthouse. The <br /> state is noticed on all real estate sales. Sales by sister corporations, not named in the <br /> bankruptcy, are not subjected to this review. The following sales have been approved <br /> 160 acres Pasture tract -- $ 159,500 (Sept. 92) <br /> Right of Way -- $15,000 (should close in the 1st quarter 1994) <br /> Fab Shop -- $336,063 (closed Dec. 93) <br /> Carbondale Industrial Park -- $1,125,000 (pending) <br /> Q. What is the status of the Rock Dust Plant? What is the liquidation plan? <br /> A. The plant continues to be marketed to potential buyers, a couple of offers have been <br /> rejected. A liquidation plan was proposed by MCR, but rejected by the Colorado Mined <br /> Land Reclamation Board because it did not provide adequate assurance that sufficient <br /> money would be available for reclamation. MCR may file the rejected plan with the <br /> bankruptcy court regardless of the State's, and Board's concerns. <br /> Q. What is the status of the Quarries north of Glenwood? <br /> A. Claim fees were not paid to BLM by MCR for years 92-93, however, MCR has <br /> refiled on several of the claims. MCR is responsible for reclamation of these sites as it <br /> relates to the Minerals Program Rules and Regulations. <br /> Q. Has inventory of the equipment been completed? <br /> A. A partial inventory has been done by DMG staff. <br /> Q. What's the status and role of M&E salvage? <br /> A. M&E Salvage are operating in the 3rd year of a 3 year contract to remove all surface <br /> facilities from the mine area. <br /> OVER <br />