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4)'U7 <br />A') <br />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 />June 3, 2011 <br />Climax Molybdenum Company <br />Raymond Lazuk <br />Highway 91, Fremont Pass <br />Climax, CO 80429 <br />COLORADO <br />D I V I S I ON OF <br />RECLAMATION <br />MINING <br />SAFETY <br />John W. Hickenlooper <br />Governor <br />Mike King <br />Executive Director <br />Loretta E. Pineda <br />Director <br />Re: Increase Rider, Bond No. and New Financial Warranty Corporate Surety, Bond No./ <br /> Climax Mine, Permit No. M-1977-493, Financial Warranty Increase Acceptance, AM-06 ./ <br />Dear Mr. Lazuk: <br />Please be informed that on June 1, 2011, the Division of Reclamation, Mining and Safety accepted the submittal of the <br />Increase Rider to the Corporate Surety, Bond the amount of $67,365,000.00 for the Climax Mine, Permit <br />No. M-1977-493. <br />On June 1, 2011, The Division also accepted the Financial Warranty Corporate Surety, Bond No. the amount <br />of $10,881,088.00. <br />The Division is currently holding $78,246,088.00. in Financial Warranty for the Climax Mine. <br />If you have any questions, please do not hesitate to call me at (303) 866-3567 ext 8114. <br />Sinc rely, <br />6-cay? <br />Johanna Cramer <br />Corporate Compliance/Bonding Specialist <br />cc: ECS, DMRS <br />Office of Office of <br />Mined Land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines