Led by some of the most successful figures in Canada, Atacama Resources International, Inc. (OTC: ACRL) is set to skyrocket with the imminent removal of its Cease Trade Order from the Canadian Securities Administrators. A mineral exploration company with claims in northeastern Ontario, ACRL currently operates three main properties in Canada. Its new team is combining their expertise to pursue opportunities in resource discovery and development, mining operations and production, capital markets and business development. ACRL is shaping up to become one of the top gold stocks as the company gears up for decisive action. With this in mind, ACRL may not be trading at $0.0246, for long.

Catalysts

Although ACRL is now pink current, its management is in the process of removing a CTO from 2018 that was placed on its former management. The CTO was issued due to a failure to file financial statements and prohibits ACRL from trading securities in Canada for the time being. Since becoming active again, the company has been updating its filings and with the release of the company’s attorney letter, the CTO is expected to be lifted soon.

In February, the company announced it was forming a new management team and appointed Joe Dion as CEO and Joshua Dion as its President and Director. Dion is a central figure in Canada, and a pivotal character in Canada’s First Nations. Coming from a family of hereditary chiefs, his family has played a central role in the community and his role with ACRL is particularly important.

In 2004, the Canadian Supreme Court issued a decision that compelled the Ontario government to consult with, and accommodate, Aboriginal groups in Ontario. Considering that Atacama is believed to be “the world’s first publicly traded mineral exploration company with a First Nations-lead board and management team” ACRL presents a real benefit to the First Nations community and its shareholders.

But as a mineral exploration company and potentially one of the top gold stocks, ACRL’s material assets are key to the company’s potential success. Bullish investors point to its 4000 acre properties lying near the Kirkland Lake gold camp – one of the strongest gold producing regions in North America. Of its three properties, Atacama 3 and Nipissing are wholly owned by ACRL. However, its Tannahill gold property offers ACRL the option for a 100% acquisition of the land under certain conditions.

Kirkland Lake Gold Inc. – a company operating on neighboring land – invested $5 million dollars in mines that yielded over $300 million in revenue. Based on Kirkland Lake Gold Inc.’s success, bullish investors are speculating that once the CTO is lifted, ACRL’s stock could reach double digits.

Meanwhile, the company has been taking steps to improve itself fundamentally. It has already settled with all convertible debt holders as part of a series of steps towards strengthening its balance sheet. According to the company’s latest quarterly report, ACRL had a net loss from operations of $433,093 over the six month period. At the same time it has $10,445 in cash or cash equivalents on hand but a working capital deficit of $2,541,421.

Given the potential resources under exploration, ACRL could soon turn a profit and become one of the top gold stocks as it pursues gold, silver, copper, cobalt, diamonds and graphite reserves. This is particularly promising in light of the renewed EV push which has driven demand for cobalt and graphite to new levels. With the rapid growth of the electric vehicles (EV) industry, the demand for lithium-ion batteries, which contain graphite, is notably increasing. Tesla is already expanding their battery operations while searching for North American-sourced nickel and graphite which is a promising sign for ACRL.

The Atacama 3 and Nipissing are wholly owned by ACRL. As for the Tannahill gold property, ACRL has the option for 100% acquisition of the property under certain conditions. 

Media Sentiment

With land this promising, ACRL may be a diamond in the rough for investors like @RebeccaHumbl looking for some long term gains.

Technical Analysis

top gold stocks ACRL chart

Currently trading at $0.0246, ACRL has a resistance line at .0288 and an immediate support at .0244 with a secondary support near .0239. Its accumulation has been holding steady. The MACD had a bearish crossover on September 30th and is still trending down, but the stock’s RSI is currently holding near 48.91.

Should You Buy?

Although the stock has been showing some volatility, bullish investors may see this as a decent entry point before the CTO is removed. As the company finishes putting its management and financials in order, ACRL could take off as its operations renew. However, ACRL’s key asset is its diverse management, whose combined expertise in indigenous lands and respected status show ACRL’s potential.

While ACRL may not be an ideal short-term investment, it could be a promising long-term hold and even prove to be one of the top gold stocks . Pending the removal of its CTO, ACRL could likely spike, even surpassing its resistance line at $0.0288. 

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