Announcement • 7h
Stardust Power Advances Execution Readiness At Muskogee Lithium Refinery Stardust Power Inc. announced the commencement of site engineering activities at its lithium refinery site in Muskogee, Oklahoma, marking an important step in advancing the refinery's transition from front-end engineering into execution-level design. Brown & Root, a leading EPC firm, has been engaged to perform the work, representing another important step in advancing the refinery's detailed engineering. The geotechnical work will include a series of site borings and subsurface investigations based on the refinery's completed Front-End Loading Level 3 ("FEL-3") engineering design and current three-dimensional plant model. The work will evaluate subsurface conditions across key facility locations and translate the refinery's completed FEL-3 engineering into site-specific design data supporting detailed engineering, procurement, foundation engineering and future construction planning. The results will provide critical inputs for site civil design, structural foundation design and infrastructure planning, further advancing the project toward execution. The Muskogee refinery is designed to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate and is expected to be one of the largest lithium refining facilities in the United States upon completion. Recent Insider Transactions • Jun 07
Co-Founder & Chief Technical Officer recently sold US$100k worth of stock On the 1st of June, Pablo Cortegoso sold around 44k shares on-market at roughly US$2.26 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Pablo has been a net seller over the last 12 months, reducing personal holdings by US$133k. New Risk • May 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$62k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$7.9m). Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (73% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$18m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (US$62k sold). Market cap is less than US$100m (US$27.5m market cap). 
