Robert Gill, Solv-Ex’s laboratory coordinator at its Fort McMurray plant, has provided a written statement and highly detailed account of Solv-Ex’s attempt to produce bitumen. The account is completely documented and has been provided to several authorities engaged in the investigation of Solv-Ex’s stock fraud.
Solv-Ex has claimed its plant would produce bitumen at less than half the cost of the industry’s standards, and that its plant would not create contaminated waste. Mr. Gill’s testimony provides proof that Solv-Ex merely attempted to produce some small quantity of low-grade bitumen at any cost using an uneconomical temporary set-up. It further shows that Solv-Ex failed even in this attempt to “fake” production.
Mr. Gill’s statement includes a complete account of him witnessing the processing of approximately 300 tons of oil sands that yielded a maximum of two (2) barrels of very low-grade non-commercial quality bitumen “froth.” Mr. Gill was hired by Solv-Ex on April 6, 1997 shortly after Solv-Ex’s alleged plant start-up and was dismissed on June 13, 1997. He was charged with testing the quality of the plant’s production and tailings. Solv-Ex did not have the necessary equipment and supplies. Instead, Mr. Gill sent samples to McMurray Resource Research and Chemex Labs in Edmonton. All of the results were extremely poor. Samples of the “middle layers” in the log washer; samples of the log washer “froth;” samples of the “sand tailings;” and samples of the minute amount of filtered product all show extremely poor results.
Mr. Gill confirmed that the sole possible purpose for attempting to “produce” bitumen at Solv-Ex’s “scrap-yard” plant was to defraud investors. The plant is incapable of producing bitumen profitably, much less remotely approach Solv-Ex’s stated efficiency claims.
Mr. Gill graduated with honors in 1974 from St. Francis Xavier University. He received a degree in chemistry. Since then he has been continuously employed as a laboratory chemist performing lab tests in the oil sands industry. His 17 years of experience include 4 years as Lab Technician at Suncor, 6 years with Energy Research Laboratories and 3 years with Lloydminster A.B.
Solv-Ex Corporation (Trading Symbol: SOLVQ) (Price: $4.50)
Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks. Additional information is available upon request.