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.. <br />RECEIVED <br />sl�07 <br />Mr. Tom Kaldenbach 0 ?013 June 6, 2013 <br />State of Colorado <br />Division of Reclamation, Mining and Safety DIVISION OF RECLAMATION <br />1313 Sherman Street Room 215 MINING AND SAFETY <br />Denver CO 80203 <br />SUBJECT: Schwartwalder Mine Permit M -1977 -300 <br />Partial Request for financial Surety Reduction for <br />Technical Revision 12, 13, 15, 18, 19 and part of AM -4 <br />Dear Mr. Kaldenbach: <br />Please accept this letter as formal notice that Cotter is requesting a reduction in the <br />$4,963,306.63 financial warranty currently covering the subject mine permit. The requested <br />reduction is for reclamation activities completed between July 2010 and May 2013 in the amount <br />of $3,092,729.24. <br />Prior to further operations associated with the full approval of Amendment AM -04, Cotter agrees <br />to post additional bonding in the amount of $2,468,426, upon receipt of the bond reduction <br />requested herein, to cover the remaining reclamation liability required by DRMS. This will <br />revise the financial warranty to a total of $4,339,003.39. <br />A summary of the existing financial warranty coverage and details of the requested reduction is <br />shown in Attachment 1. <br />As your records reflect, Cotter Corporation, located at 7800 E. Dorado Place, Suite 210, <br />Greenwood Village, CO. 80111 (720 -554 -6200) is the sole owner of the property where the <br />work was completed. The attached public notice will be published on the first available <br />publication. after June 21, 2013 by the Golden Transcript in Golden, Colorado, which Cotter <br />believes to be the paper of largest circulation in Jefferson County, Colorado. Cotter will provide <br />evidence of publication once that has occurred. <br />If you have any questions, please contact me before June 14, 2013. For your convenience, I can <br />be reached at 720-554-6211 or gus aviotis &,,cotterusa.com if you choose. Thank you in <br />advance for your time and attention to this matter. <br />Respectfully Submitted, <br />Gus M. Ga,, iotis <br />Vice President of Accounting and Finance <br />Cotter Corporation <br />Cotter Corporation Telephone (720) 554 -6200 <br />7800 E. Dorado Place, Suite 210, Greenwood Village, CO 80111 Fax (720) 554 -6201 <br />