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BONDING REQUIREMENTS <br /> Reclamation of Tailings Pond #1 is currently bonded for $82,600. <br /> This figure is from Exhibit L (Reclamation Costs) of the <br /> Consolidated Permit Application. <br /> The proposed plan is substantially different from the bonded plan <br /> but for the following reasons it is our opinion that no additional <br /> bonding should be required. <br /> 1) The proposed plan is a voluntary upgrade of the existing plan. <br /> 2) Tailings Pond #2 reclamation has progressed to the point <br /> where bond amount exceeds cost of work required for completion <br /> leaving excess bond. <br /> Below is a summary of bond status as excerpted from the <br /> Consolidated Permit Application - Exhibit L and TR 11. <br /> Tailings Pond No. 1 bond proportion $ 82,600 <br /> Tailings Pond No. 2 bond proportion $ 71,600 <br /> Less: Remaining work for Reclamation <br /> (seeding, monitoring and Maintenance) <br /> 18 acres @ $1278/acre $ 23,004 <br /> Plus: Borrow Area Reclamation <br /> 5. 54 acres @ $1278/acre $ 7,080 <br /> Excess bonding - Tailings Pond #2 $ 55,676 <br /> Total bonding available for Tailings Pond #1 $138 ,276 <br />