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Gold/Mining/Energy : Solv Ex (SOLVD)
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To: Larry Ricker who wrote (3104)5/27/1997 4:52:00 PM
From: David Coakley   of 6735
 
Larry,

Regarding your points:
1. The logwasher which was expected to produce 3,000 bpd actually produces between 10,000 and 15,000 bpd. This resulted in some changes in the process and equipment. The valves (larger) had to be custom made and won't be available until the second week of June. Not a problem when you consider they have billions of barrels of oil to extract over the rest of my lifetime.

2. The point John Rendall was trying to make was that the TiO2s production would cover all of the operating expenses leaving the rest of profits to fall to the bottom line.

3. There are huge tailings ponds that NEED to be cleaned up and SOLV is preparing to do just that.

Re: rumor. IF, Steve Lane has departed the company I don't believe there would be any material effect. He has done a superb job to this point, but, is replaceable. I hope he remains on board, but, SOLV will not be affected by any one person's departure.

Dave
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