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Letter to Bryce Romig 6 April 12, 2001 <br /> ®RAFT <br /> $117,387' + $409,1652+ $735,6913 + $1,734,0944 + $2,5175 + $79,4376 = $3,078,291 <br /> 1•Storke,2:E-Dump,3:3-Dam,4:Robinson Tailing Flats,5:Area C-14,6:Building Demolition <br /> Based on this reduction of direct reclamation costs, the indirect costs applied as a percentage may also <br /> be reduced in the total amount of bond to be required. The indirect cost reduction factor is calculated as <br /> follows: <br /> Total Direct Cost Reduction: $3,078,291 <br /> Indirect Costs: <br /> Public Liability Insurance (1.55%) $47,714 <br /> Contractor's Performance Bond (0.86%) $26,473 <br /> Contractor's Profit (10.0%) $307,829 <br /> Subtotal Indirect Costs $382,016 <br /> Subtotal Bond Reduction Amount $3,460,307 <br /> Minerals Program Administration (5.0%) $173,015 <br /> Total SR-03 Bond Reduction $3,633,322 <br /> Climax may provide a replacement bond or a rider to the existing $52,365,000.00 bond to reflect this <br /> reduction. Alternatively, Climax may chose to await the resolution to the pending financial warranty <br /> review to be conducted in accordance with Rule 4.2.1(2) and adjust the bond amount one time as the <br /> result of the two separate financial warranty actions. <br /> If you have any questions, please contact me. <br /> Sincerely, <br /> Allen C. Sorenson <br /> Reclamation Specialist <br /> enclosure(s) <br /> cc: Barb Chiappone, DMG (w/o enclosures) <br /> c:\wmdows\personal\climax sr-3 appvl revised.doc <br />