A process for converting fine catalyst slurried in heavy oil into a coke-like material from which catalytic metals can be recovered comprises mixing fine catalyst slurried in heavy oil with solvent, which causes asphaltenes in the heavy oil to precipitate from the heavy oil; separating fine catalyst and precipitated asphaltenes from the heavy oil and solvent; and converting precipitated asphaltenes to a coke-like material by pyrolizing fine catalyst and precipitated asphaltenes separated from the heavy oil.