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Gold/Mining/Energy : Solv Ex (SOLVD)

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To: Dominic Cerino who wrote (2612)	4/20/1997 11:14:00 AM
From: Jim Atkinson	of 6735

To All from the Great White North I have been away for about a month and have been trying to read the 1000 or so posts for new news,I have come to the conclusion that there isn't much new news only a lot of batter. For what it's worth I will post the local rumors that I have been able to pick up. It seems that the plant produces oil very well, thank you very much. In fact (rumor) they had planned to take (time is an estimate) five minutes to run through a batch of oil and it took two minutes to finish the batch. This causes them problems as they made projections based on five minutes and now may have to double the size of their downstream facility based on the fast times. There are problems with sand. Apparently they put in a new (24" I think) valve that cost thousands of dollars. It lasted only a very short time and was gone. It was supposted to be a ball valve but it was decided to use a butterfly valve as they are a lot cheaper. The butterfly didn't hold up. There are problems with inexperience operating in a Northern Climate. For example they loaded frozen Tar Sand on their (smaller) converor belt and tried to start it up (full). The result is that they burnt it up and now are using their larger belt. There are problems with concerns over their credit worthiness. This causes delays getting material which can hold up a crew of men. They have to be paid but cannot work with out material. SOLV had an add in the local paper for employees, mostly experienced Engineering types, a suveyor etc, about eight positions. For the record I have no affiliation with SOLV or any company that works at SOLV. I have no financial interest in SOLV. I want Solv-Ex to succeed as much as any long investor because it's good for McMurray. Local weather has been unseasonally warm lately. Highs in the +15 C range and barely freezing at night, if at all. I expect their site is very muddy, I have heard that their road is a mess. Jim Atkinson

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