GENERAL52755

• Permit No: M1980244
• IBM Index Class Name: General Documents
• Doc Date: 8/22/2002
• Doc Name: Re: Joint Venture
• From: Cripple Creek & Victor Gold
• To: DMG
• Media Type: D
• Archive: No

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Cripple Creek & Victor Gold Mining Company '~ eQ~
C~C7 A Jninl Venture - ANGLOGOLG (COLORgDO) CORP., Manager
X7 V Operations Of£ce Englewood Office p. _ '4(/G+ ~®~~
IIVXXG... P.O. Box 191 • 100 North 3rd Street 5251 DTC Parkway, Suite 1
Victor, Colorado 80860 Englewood, Colorado 80111 ~/.y1~ .l~
[phone] • Fax [phone] [phone] • Fax [phone]@} /
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CBO~oa
August 21, 2002
Mr. Ron Cattany
Director
Division of Minerals and Geology /
Department of Natural Resources
1313 Sherman Street, Room 215
Denver, CO 80203
Dear Ron:
As addressed in application materials provided to the Division of Minerals and Geology
("DMG"), Cripple Creek & Victor Gold Mining Company ("CC&V") is a joint venture between
AngloGold (Colorado) Corp. and Golden Cycle Gold Corporation. See, e.g., Amendment No. 8,
Volume I, Project Description, page 1. The following excerpt From Exhibit N -Legal Right of
Entry, page N-2 of that same permit application document provides more detail on this matter.
Title to all of the property within the permit boundary owned by Cripple Creek & Victor
Gold Mining Company is subject to the Amended and Restated Joint Venture Agreement
dated effective January 1, 1991 between Pikes Peak Mining Company and Golden Cycle
Gold Corporation. The original Joint Venture Agreement was dated January 30, 1976.
This agreement was superseded by the Joint Venture Agreement dated August 28, 1980.
Amendments to this document were executed effective December 2, 1976, April 23,
1985, May 8, 1986, and January 1, 1987. None of these Joint Venture Agreements are
recorded. ....
Pursuant to the referenced Amended and Restated Joint Venture Agreement, dated effective
January 1, 1991, Pikes Peak Mining Company was designated manager of CC&V. AngloGold
(Colorado) Corp. issuccessor-in-interest to Pikes Peak Mining Company, as manager of CC&V
Pursuant to that same Amended and Restated Joint Venture Agreement, the manager has all
power and duty over the joint venture, known as CC&V, including the power and duty to apply
for and obtain authorization from any appropriate federal, state, and local entity to develop and
operate the joint venture assets. Such power and duty would include posting the appropriate
financial warranty with the State of Colorado to allow implementation of the approvals obtained
under Permit M-1980-244.
[t is important to note that CC&V is a joint venture, that its two partners are corporations, and
that the only means for a corporation to act is through its officers and directors. Therefore, the
only means for CC&V to act is through the officers and directors of its partners, acting on behalf
of CC&V. As referenced above, the Amended and Restated Joittt Venture Agreement has
authorized only one of its two partners, AngloGold (Colorado) Corp., to act on its behalf in