Collective shares slide on Apollo’s 4.1M-oz gold resource

AI desk brief

Collective Mining’s Apollo deposit in Colombia delivered an initial 4.1Moz gold resource, but the stock fell 9.4% as the estimate was broadly in line with expectations. The resource includes 37Mt indicated at 1.38 g/t gold and 48.2Mt inferred at 1.6 g/t gold, with additional silver, copper and tungsten credits; National Bank said the project sits in a “world-class wheelhouse” and could conceptually support about 250k gold-equivalent oz./yr at 10,000-15,000 t/d, while Scotiabank also called the update positive.