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Sienna Resources CEO shows confidence in new lithium project with purchase of over 1 million shares

It's usually a good sign when a company's officers add to their holdings

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Sienna Resources Inc. (CVE:SIE) (FSE:HRJ1.F) (OTCBB:HBNRF) CEO Jason Gigliotti has been showing investors just how much he believes in his company of late, as trade reports confirm him purchasing more than 1 million Sienna Resources shares in the open market since May 31.

According to the reports, Gigliotti bought a total of 1,009,000 shares from May 31 through June 15, at prices ranging from $0.145 to $0.22.  A total of 400,000 shares were purchased at $0.22, 209,000 at $0.215 and 200,000 at 0.21.

Following his purchases, Gigliotti owns 1,368,855 shares, or just under 4% of the company’s 34.9 million common shares issued and outstanding

On May 20, Sienna Resources announced that it had acquired a lithium brine project in Nevada bordering well-known projects run by Pure Energy Minerals Ltd. (CVE:PE) and Lithium X Energy Corp. (CVE:LIX).

The Sienna Resources landholding is located in one of the deepest sections of the Clayton Valley Basin, the district that hosts the only commercially producing lithium project in North America, Albemarle Corporation’s (NYSE:ALB) Silver Peak lithium brine project.

Sienna Resources closed Thursday at $0.22 on volume of 620,897 shares.

Quick facts: Sienna Resources

Price: 0.04 CAD

Market: TSX-V
Market Cap: $2.47 m

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