Canaccord Genuity mining analyst Peter Bell called the Apollo-Olympus connection at the site near Caldas 180 km west from Bogotá a positive development.
“The expanded Apollo system opens up further growth potential,” Bell said in a note to clients Monday. He maintains a speculative buy rating for Collective Mining, with a target price of C$8.75 per share.
Collective shares closed 1.5% stronger on Monday, hitting a new 12-month high at $3.23 in New York. The stock has gain ed 16.5% over the period, giving the company a market capitalization of $220.3 million.
Bulk tonnage
Collective aims to establish Guayabales as a large-scale, high-grade, bulk tonnage gold-silver-copper-tungsten system, with significant resource growth ahead. Development of Guayabales, next to Aris Mining’s (TSX: ARIS; NYSE: ARMN) Marmato mine, taps into growing global demand for high-grade precious metals amid supply constraints and a focus on sustainable,…
