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III IIIIIIIIIIIIIIII <br />999 <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Depanmenl of Natural Resources <br />1317 Sherman 51., Room 215 <br />Denver, Colorado 80203 <br />Phone: 13031866-3587 <br />FAX: (3031 832-8106 <br />July 15, 1996 <br />Mr. Jeffrey W. Schwarz <br />Parcel, Mauro, Hultin, & Spaanstra, P.C. <br />Suite 3600 <br />1801 California Street <br />Denver, CO 80202-2636 <br />Re: Transfer of Permit and Succession of Operators, <br />Coal Reclamation Bonds, Sanborn Creek Mine <br />(f.k.a. Somerset Mine), Permit No. C-81-022 <br />Mr. Schwarz: <br />Url~ <br />DEPARTMENT OF <br />NATURAL <br />RESOURCES <br />Roy Romer <br />Governor <br />lames S Lochhead <br />EaKUlive Direct or <br />Michael B. Long <br />Division Director <br />I have completed the initial review of the seven reclamation bond <br />forms submitted for the reclamation bonds on the Sanborn Creek Mine, <br />which are to be transferred in ownership from Pacific Basin Resources, <br />a Division of Oxbow Carbon & Minerals, Inc. to Oxbow Carbon 6 <br />Minerals, Inc. as a result of the Transfer of Permit currently in <br />process. I have found the bonds incomplete and the following concerns <br />need to be addressed: <br />1) Letter of Credit No. 13424 in the amount of $575,000.00 <br />issued by Citizens Fidelity Bank: <br />a) Need to submit an amendment from the PNC Bank <br />Kentucky reflecting their name change from <br />"Citizens Fidelity Bank" to "PNC Bank" as <br />indicated on previous documentation. <br />b) Need to submit an amendment from the PNC Bank Kentucky <br />changing the "Applicant's Name" to read Oxbow Carbon <br />and Minerals, Inc. and all references to Pacific Basin <br />Resources, a Division of Oxbow Carbon & Minerals, Inc. <br />should be replaced with Oxbow Carbon & Minerals, Inc. <br />c) Need to submit a properly executed bond <br />"Coal Reclamation Bond For Use With Letter <br />of Credit/Federal Mine" form. <br />d) Need to submit official documentation <br />authorizing Brian Acton, President, to sign <br />on behalf of Oxbow Carbon & Minerals, <br />Inc.(OCM) (ie: Board Resolution). <br />