$CNL

Collective Mining (NASDAQ:CNL) aims to increase Apollo's resource to 10M ounces, with current indicated and inferred resources exceeding 5M ounces. The company plans to start with open-pit mining, transitioning to underground operations. Apollo contains gold, silver, copper, and tungsten. Collective expects to begin an exploration adit soon and targets a resource update in late 2024 or early 2028, followed by a preliminary economic assessment.

Collective Mining released a maiden resource estimate for its Apollo deposit, with indicated and inferred resources totaling over 5 million ounces. The company aims to expand this to 7-8 million ounces in a future update and ultimately 9-10 million ounces by the feasibility study stage. Apollo contains gold, copper, silver, and tungsten. The company plans to begin work on an exploration adit and expects to apply for an environmental license by mid-2028, targeting production by 2031.

Collective Mining (CNL) discovered high-grade gold and tungsten in Colombia, outside its Apollo breccia. Hole APC150-D4 yielded 8.15m grading 8.47g gold/tonne, 4g silver, and 0.40% WO₃. Analysts view this positively, suggesting exploration potential. The find is 680m below the shallow tungsten zone, with follow-up drilling planned. Apollo's initial resource includes 1.64M oz. gold, 29M oz. silver, and 3,887 tonnes of WO₃. CNL shares fell 2% to $18.14.

Analysts updated ratings and price targets for several Canadian companies. CIBC lowered targets for AQN, ACO.X, CU, CPX, EMA, FTS, H, TA. TD maintained ratings for ATZ, BB, CF, SHOP. Eldorado Gold (ELD) was upgraded to Buy by BofA and Canaccord raised its target.

Collective Mining (TSX, Nasdaq: CNL) shares fell 9.4% after announcing a 4.1M oz. gold resource at its Apollo deposit in Colombia. The resource includes 1.64M oz. gold (indicated) and 2.47M oz. (inferred), with high-grade zones driving potential value. Analysts view the resource as positive, with targets of $32 and $35. The company plans further drilling and studies, aiming for construction by 2029.

Collective Mining (CNL) extended its Apollo system in Colombia after drill holes discovered a new mineralized breccia body, including 38m grading 15.25g gold/tonne. The find extends the system northward and vertically. Shares rose 3% to $21.41, valuing the company at $1.99B. Analysts see potential for resource growth and improved project economics.

Collective Mining Ltd. (NYSE: CNL, TSX: CNL) said Colombia’s ANM granted additional mining titles on July 10, 2026 after public hearings in Supia (May 21, 2026) and Marmato (Feb 17, 2026). The titles expand Guayabales titled land and add drill-ready targets. Company reported US$113.3M cash as of March 31, 2026 and up to 100,000m drilling planned for 2026.

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