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Collective Mining ( (TSE:CNL) ) just unveiled an update.
Collective Mining Ltd. announced that Agnico Eagle Mines Limited intends to exercise its participation rights in a C$125 million public offering, subscribing for 789,473 common shares. This move will result in Agnico holding 14.64% of the company’s outstanding shares. The public offering and concurrent private placement are subject to regulatory approvals and are expected to close concurrently. This strategic move is part of Collective Mining’s efforts to capitalize on financing opportunities and expand its operations, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (TSE:CNL) stock is a Buy with a C$18.00 price target. To see the full list of analyst forecasts on Collective Mining stock, see the TSE:CNL Stock Forecast page.
More about Collective Mining
Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects in Caldas, Colombia. The company has options to acquire 100% interest in two projects located within an established mining camp with ten fully permitted and operating mines. Its flagship project, Guayabales, features the large-scale, high-grade Apollo system, and the company is also conducting a significant drilling campaign at the San Antonio Project.
YTD Price Performance: 205.09%
Average Trading Volume: 182,397
Technical Sentiment Signal: Buy
Current Market Cap: C$1.58B
For a thorough assessment of CNL stock, go to TipRanks’ Stock Analysis page.