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All <br />y DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 <br />March 3, 2009 <br />COLORADO <br />D I V I S ION OF <br />RECLAMATION <br />MINING <br />SAFETY <br />Bill Ritter, Jr. <br />Governor <br />Mr. Kent Beach Harris D. Sherman <br />Seifert Construction Executive Director <br />198 Range View Loop Ronald W. Cattany <br />P.O. Box 305 Division Director <br />Natural Resource Trustee <br />Westcliffe, CO 81252 <br />Re: Boyer Pit, Permit No. M-2002-122, Technical Revision (TR-01) Approval and Notice of Financial <br />Warranty Increase <br />Dear Mr. Beach: <br />On March 2, 2009 the Division of Reclamation, Mining and Safety approved the Technical Revision application <br />submitted to the Division on February 25, 2009, addressing the following: <br />Approval of TR-01 to increase the disturbed permitted area from 10 to 13 acres. <br />The terms of the Technical Revision No. 1 approved by the Division are hereby incorporated into Permit No. M-2002- <br />122. All other conditions and requirements of Permit No. M-2002-122 remain in full force and effect. <br />The Division currently holds a financial warranty of $19,300. The Division has calculated the total reclamation <br />liability at $35,600, which is an increase of $16,300. An additional $500 is required if Seifert Construction elects to <br />submit the financial warranty as an Irrevocable Letter of Credit for a total increase of $16,800. <br />This letter is to inform you that your financial warranty will need to be revised from its current amount of $19,300 to <br />$35,600 (or $36,100 if submitting an Irrevocable Letter of Credit) within 60 days of the date of this notice. <br />PLEASE NOTE THAT MINING OPERATIONS MAY NOT COMMENCE IN THE ADDITIONAL ACREAGE <br />UNTIL AFTER DIVISION RECEIPT AND APPROVAL OF THE INCREASED FINANCIAL WARRANTY. <br />If you have any questions regarding the Financial Warranty please contact Elizabeth Taliaferro at (303) 866-3567 Ext. <br />8148. <br />If you have any questions, please contact me at (303) 866-3567 Ext. 8124. <br />Sincerely, <br />Pet r S. Hays <br />Environmental Protection Specialist <br />cc: Steve Shuey, DRMS <br />Elizabeth Taliaferro, DRMS <br />STATE OF COLORADO <br />Office of Office of <br />Mined Land Reclamation Denver Grand Junction Durango Active and Inactive Mines