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STATE OF COLORADO <br />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 />August 23, 2010 <br />Glenn Williams <br />Cotter Corporation <br />P.O. Box 700 <br />Nucla, CO 81424 <br />6/?/t] <br />RENEE <br />COLORADO <br />D I V I S I ON OF <br />RECLAMATION <br />MINING <br />SAF' ETY <br />AUG 3 p 2010 <br />Division or t r",c2 tration, <br />ding and Safety <br />Re: Mineral Joe Claims, Permit No. M-1977-284, Notice of Financial Warranty Increase, SL-02. <br />Dear Mr. Williams, <br />Bill Ritter, Jr. <br />Governor <br />James B. Martin <br />Executive Director <br />Loretta E. Pineda <br />Director <br />In an effort to ensure the financial warranty remains adequate to reclaim this site per the requirements <br />of the approved reclamation plan, DRMS has updated the reclamation cost estimate (copy enclosed). <br />The estimated reclamation liability is now $34,331.00. This is an increase of $6,000.00 from the 1999 <br />increase and the 2002 bond review. The site is clearly is under-bonded. Therefore, pursuant to Section <br />34-32-117(4)(C)(II) of the Colorado Land Reclamation Act, adequate financial warranty must be <br />submitted to DRMS within 60 days, (October 22, 2010) of the mailing date of this notice. <br />Based on the July 28, 2010 inspection it was noted very little had changed since the last reclamation <br />bond update in 2002 which took into account reclamation done at that time. Staff therefore updated <br />the bond calculation using accepted volumes and tasks with minor adjustments. The increase reflects <br />costs increase for mine closures, demolition, and dozer work, while keeping some costs at or below past: <br />estimates. <br />If you need additional information, please contact me at the Division of Reclamation, Mining, and Safety, <br />Grand Junction Field Office, 101 S. 3rd St., Suite 301, Grand Junction, Colorado 81501, telephone no. <br />970.241.1117. <br />Sincerely, <br />G. Russell Means <br />Environmental Protection Specialist <br />Office of Office of <br />Mined Land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines