Roth Capital analyst Mike Niehuser raised the firm’s price target on Collective Mining (CNL) to $25 from $16.50 and keeps a Buy rating on the shares. The company reported its best drill results on the growing Ramp Zone in the Apollo System of its Guayabales Project in Colombia, the analyst tells investors in a research note. Collective Mining has developed a credible model, whose importance may eclipse drill results, the firm added.
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