Elektro Uncovers Potential for Major Lithium Deposit in Sierra Leone

On May 25, Elektros Inc. (OTC:ELEK) announced significant advancements in its lithium expedition in Sierra Leone. Recent geological surveys by Elektros revealed lithium concentrations that exceed initial projections. This suggests the potential for one of West Africa’s most substantial lithium deposits.

Elektro Uncovers Potential for Major Lithium Deposit in Sierra Leone, Boosts EV Revolution

A miner hard at work, extracting raw lithium from a mineral resource.

The urgency for high-grade and ethically sourced lithium has intensified from major automakers such as Tesla and BMW due to the demand for EVs. Tesla CEO Elon Musk has highlighted that lithium refining and sourcing are among the biggest constraints to Tesla’s growth. This is why discoveries like Elektros’ in Sierra Leone are significant for securing reliable lithium resources and accelerating global EV adoption.

Lithium determines the efficiency, range, and sustainability of EVs, and is often referred to as the ‘white gold’ of the energy sector. Its high energy density, lightweight nature, and rechargeable capabilities make it indispensable for lithium-ion batteries, which are used in the EV sector, as well as in the renewable energy storage sector.

Elektros Inc. (OTC:ELEK) focuses on lithium mining, EV charging, solar energy storage, and power supply for AI data centers. The company is also involved in the motor vehicles and passenger car bodies business.

While we acknowledge the potential of ELEK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ELEK and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.