One company executive recently purchased over one million shares
SmallCapPower | July 22, 2016: Many of the once red-hot lithium penny stocks have cooled over the past couple of months. Whether this is the result of the bubble bursting or just taking a breather remains to be seen. Nonetheless, some lithium exploration insiders are still big believers in their company’s prospects, as can be seen by their recent stock purchases. On our list today are just a few examples.
Lithium X Energy Corp. (CVE:LIX): This could be the best bet of the lithium speculation plays if, for no other reason, than it has the backing of mining heavyweights Paul Matysek and Frank Giustra.
Lithium X owns 50%, and has the option to acquire up to 80%, of the Sal de los Angeles lithium brine project in Argentina, in addition to having an option to become the largest claims holder in Nevada’s Clayton Valley with over 15,020 acres (6,078 hectares).
The fact that its Nevada properties are directly north and south of Albemarle’s lithium mining operation could make Lithium X an eventual takeover target.
Executive Chairman Paul Matysek and CEO Brian Paes-Braga both bought Company shares recently at a price of $1.65 per share.
Sienna Resources Inc. (CVE:SIE): Sienna’s Clayton Valley Deep Basin Lithium Brine Project in Nevada is located directly between and bordering properties belonging to Pure Energy Minerals (CVE:PE) as well as Lithium X Energy.
Sienna’s President Jason Gigliotti recently purchased just over one million shares of his Company’s stock, most of which was at a price that exceeds its current market value of $0.185 per share.
Alix Resources Corp. (CVE:AIX): Alix current has three lithium projects: the Jackpot property in Ontario, the Preissac-Lacorne complex in Quebec, and the Electra Project in Mexico.
Alix’s CEO Michael England bought some of his Company’s stock this month at prices of $0.09 and $0.095 per share.
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