Collective Mining initiated with an Outperform at Scotiabank

Scotiabank initiated coverage of Collective Mining (CNL) with an Outperform rating and C$8.50 price target Collective’s flagship asset is the Guayabales project in Caldas, Colombia, which hosts six main exploration targets in a large system of brecciated porphyries overprinted by precious metal-rich carbonate-base metal veins, the analyst tells investors. Apollo, the most advanced among them, has “the potential to host a multi-million ounce underground resource in the near future,” the analyst contends.