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t;SG <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 />v April 10, 2008 <br />Mr. Mickey Fouts <br />COAG Corporation <br />PO Box 402 <br />200 South Wilcox Street <br />Castle Rock, CO 80104 <br />RE: Notice of Intent to Conduct Prospecting Op~ations <br />COAG Corporation; File No. P-2007-069; Adequacy Review #2 <br />Dear Mr. Fouts, <br />COLORADO <br />DIVISION O F <br />RECLAMATION <br />MINING <br />-&- <br />SAF ETY <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Ronald W. Cattany <br />Division Director <br />Natural Resource Trustee <br />The Division of Reclamation, Mining and Safety ("Division") received your response to the Division's <br />adequacy letter dated January 8, 2008 on the COAG Corporation ("COAG") NOI Prospecting Project; File <br />No. P-2007-069. The Division has remaining items that need to be addressed prior to approval of the NOI. <br />COAG submitted an additional bond in the amount of $2,000.00. The Division currently has an <br />interim reclamation bond in the amount of $7,000.00 that was deemed incomplete due to the fact <br />that COAG must submit the bond form titled, "One Site Prospecting Financial Warranty Check <br />for Deposit in State Treasury." Please inform the Division as to the intent of the $2,000.00 and <br />$7,000.00 bonds. If the $7,000.00 bond is to remain in place, the bond form noted above will <br />need to be submitted. <br />2. COAG states that the primary entry (aka Franklin Shaft) will not be closed at the conclusion of <br />prospecting due to landowners desire to leave the shaft and hoist house building in its existing <br />condition and because of the possibility of obtaining a future mining permit. The Division <br />cannot approve leaving a shaft open because of the wishes of the landowner and unknown <br />future mining in the area. COAG will need to commit to securing both the Freighter Friends <br />Shaft and the Franklin Shaft as a component of the reclamation plan. <br />3. COAG states that they intend to install a removable shaft closure on the ventilation shaft (aka <br />Freighter Friends Shaft), and that bonding of the closure will not be necessary. The Division <br />must secure a reclamation bond for all areas that will be disturbed under the proposed NOI, <br />including Franklin Shafts. COAG has the following options; <br />• Post a reclamation bond for the Freighter Friends Shaft and the Franklin Shaft (and the <br />cost for other required reclamation) using the Division's specifications for shaft closure <br />with entry. Upon posing of the reclamation bond, COAG may proceed with the NOI <br />project at the Franklin Mine, or <br />Office of Office of <br />Mined Land Reclamation Denver Grand Junction Durango Active and Inactive Mines <br />