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~ III IIIIIIIIIIIIIIII i s~ <br />STATE OF COLORADO <br />MINED LAND RECLAMATION DIVISION <br />Department of Natural Resources <br />1313 Sherman St.. Room 215 <br />Denver. CO 60203 <br />303 866-3567 <br />FA X. 303 832-8106 <br />January 31, 1990 <br />Mr. A. Walter Wise <br />Battle Mountain Resources <br />333 Clay Street, 42nd Floor <br />Houston, Texas 77002 <br />RE: San Luis Project Permit Amendment (File M-88-112) <br />Dear Mr. Wise: <br />On January 25, 1990, the Mined Land Reclamation Board approved the Battle <br />Mountain Resources permit amendment. <br />~( <br />The amount of financial warranty set by the Board for the amended operation is <br />$3,345,500.00. The original permit allowed for financial warranty submittal <br />in two phases. Phase one warranty in the amount of $2,052,000.00 was <br />submitted in the form of a letter of credit in 1989. The remaining <br />$1,248,300.00 was to have been submitted prior to commencement of phase two of <br />the operations. The approved amendment, at Exhfbit E (reclamation plan) and <br />Exhibit L (reclamation cost estimate) does not discuss the phased approach to <br />submittal of financial warranty. Therefore, Battle Mountain Resources should <br />submit the entire $3,345,500.00 financial warranty as either an amendment to <br />the currently held letter of credit, or by supplying a new form of warranty. <br />The Mined Land Reclamation Act (C.R.S. 34-32-117(4)(c)) allows the operator <br />sixty days from the hearing date to supply the additional financfal warranty. <br />I am enclosing a number of financial warranty forms for your use. <br />Please contact me if you have any questions or comments, <br />Sincerely, <br />Steven G. Renner <br />Senior Reclamation Specialist <br />SGR/scg <br />Enclosure(s) <br />cc: Bruce Humphries <br />Deborah Mulloy <br />Dean Massey <br />3648E <br />of ~°r-0 <br />v.W `9 <br />. ~~.^i. <br />re ~r <br />Rvy Romr:. <br />Goverrgi <br />Fred R Banta, <br />Dms~on D.rector <br />