Eye on Lithium: Former Tesla director done for insider trading walks free
All your lithium news, Tuesday March 21.
A former director of Tesla’s Australian unit has been sentenced to two years and six months’ imprisonment but will be released immediately on the condition of “good behaviour” for two years and six months, according to ASIC.
The sentence relates to Kurt Schlosser’s time as the Australian country director of Tesla, when he found out about a confidential supply deal the electric car maker signed with Piedmont Lithium (ASX:PLL).
On September 16, 2020, Schlosser purchased 86,478 shares in Piedmont Lithium in two transactions and told a friend about the pending deal in circumstances where it was likely that person would also acquire Piedmont Lithium shares.
Schlosser sold the shares for more than A$28,000 and pleaded guilty at a court in Sydney.
ASIC news – former Tesla Director sentenced for insider trading (link below).
(ASIC is an Australian regulator of financial markets)https://t.co/DvOn4UfEoL
— TheWorldFoundry 🐘 peoplemaking games (@abrightmoore) March 20, 2023
A total of 44 finished in the green, 55 fell flat, and 38 tumbled into the red.
After gathering an extensive database of historical exploration across the Salar Verde lithium brine/clay project in Chile, Macro Metals says it has unlocked multiple significant results including 8m at 490ppm Li from surface and 14m at 485ppm Li from surface.
An exploration-targeting program is now underway with the aim of conducting broad spaced drilling to test the clay-hosted lithium potential.
Momentum is building towards a maiden resource at Lithium Energy’s Solaroz lithium brine project in Argentina, where drilling of the fourth and fifth holes of a 5000m drill program is looming.
Drill rigs have now mobilised to the fourth and fifth holes at Solaroz as drilling targets conductive brines identified by geophysics to depths of up to 500m below surface.
The company has already demonstrated that conductive brines encountered across its 12,000 hectare network of concessions are rich in lithium, as expected, being located adjacent to Allkem’s massive Olaroz operation and Lithium Americas’ Cauchari brine field.
Assay results are still pending for the second hole in the program on the Chico V concession.
Azure Minerals has reeled in more spodumene-rich pegmatites at the Andover Project grading up to a maximum of 4.62% Li2O adjacent to historical artisanal tin-tantalum mine workings.
Out of 600 samples, 27 have returned grades exceeding 3% Li2O as drilling continues near prospect AP001 with spodumene-rich pegmatites visually identified in the first two completed drill holes carried out earlier this month.
At Stockhead we tell it like it is. While Lithium Energy and Azure Minerals are Stockhead clients, they did not sponsor this article.