Colorado Goldfields Inc. (fka CGFI)

[lesgetrich]

It seems to me that the "Reclamation Bond" was to "reclaim" the damage done by the previous owners of the mill and the bond money is to ensure that the work gets done. Once this damage is corrected the bond money should be returned.

As M_T points out in post #61573, a new bond will probably be required for the mill's new dry stacking method for disposing of their tailings once production resumes. This is separate from the reclamation of the ponds which were used by the previous owners for their tailings disposal (which ultimately led to closing the mill) and for which the $500k+ bond was posted. Since the new method for disposing of their tailings is considered to be environmentally freindly and far superior to the tailing ponds, there should be a much lower reclamation bond requirement (or none at all).

See Press release on 7/17/12

Colorado Goldfields' Mill Tailings Repository Judged "Most Robust Ever Encountered" by World-Class Engineering Firm Knight Piesold