<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1 TO
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
December 5, 1997
(Date of Report)
SOLV-EX CORPORATION
(Exact Name of Registrant as specified in its charter)
New Mexico
(State or other jurisdiction of incorporation)
0-9897 85-0283729
- ------------------------ ------------------------------------
(Commission File Number) (IRS Employer Identification Number)
2127 Menaul NE, Albuquerque, New Mexico 87107
-----------------------------------------------------------
(Address of principal executive offices including zip code)
(505) 883-0331
---------------------------------------------------
(Registrant's telephone number including area code)
500 Marquette Avenue NW, Suite 300, Albuquerque, New Mexico 87102
-----------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANTS
(a) KPMG Peat Marwick LLP was previously the principal accountants for
Solv-Ex Corporation (Registrant). On December 5, 1997, that firm resigned as
the Registrant's principal accountants.
In connection with the audits of the two fiscal years ended June 30, 1996,
and the subsequent interim period through December 5, 1997, there were no
disagreements with KPMG Peat Marwick LLP on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedures, which disagreements if not resolved to their satisfaction would
have caused them to make reference in connection with their opinion to the
subject matter of the disagreement.
The audit reports of KPMG Peat Marwick LLP on the consolidated financial
statements of the Registrant and subsidiaries as of and for the years ended
June 30, 1996 and 1995, did not contain any adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty, audit scope,
or accounting principles.
This decision to resign was made by KPMG Peat Marwick LLP, and was neither
approved nor disapproved by the Registrant's audit committee or Board of
Directors.
(b) The Registrant has not engaged any firm of accountants to act as its
principal accountant as successor to KPMG Peat Marwick LLP. The Registrant
has not consulted any such firm regarding any accounting principles or
disagreements with its former principal accountants.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) and (b) FINANCIAL STATEMENTS
None
(c) EXHIBITS
Letter from KPMG Peat Marwick dated February 13, 1998, addressed to
the Securities and Exchange Commission.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
February 10, 1998 SOLV-EX CORPORATION
- ----------------- (Registrant)
By /s/ John S. Rendall
----------------------------------
John S. Rendall, Chairman
<PAGE>
[LETTERHEAD]
February 13, 1998
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for Solv-Ex Corporation and, under
the date of September 10, 1996, we reported on the consolidated financial
statements of Solv-Ex Corporation and subsidiaries as of and for the years
ended June 30, 1996 and 1995. On December 5, 1997, we resigned as principal
accountants. We have read Solv-Ex Corporation's statements included under
Item 4 of its Form 8-K, Amendment No. 1 dated December 5, 1997, and we agree
with such statements, except we are not in a position to agree or disagree
with Solv-Ex Corporation's statements that:
1. Our decision to resign was neither approved nor disapproved by
Solv-Ex Corporation audit committee or Board of Directors; and
2. Solv-Ex has not engaged any firm of accountants to act as its
principal independent accountant as successor to KPMG Peat Marwick
LLP.
Very truly yours,
/s/ KPMG Peat Marwick LLP
