Core Viewpoint - The ongoing gold rally has led to increased investor interest in mining stocks, with RUA GOLD Inc. and other companies reporting significant progress in their projects as gold prices reach record highs [1][2]. Group 1: Gold Market Dynamics - Gold prices have surpassed $3,200, prompting analysts at UBS and Deutsche Bank to raise their projections to $3,500 and $3,700 respectively [2]. - The macroeconomic environment is contributing to rising gold prices, which have shown parabolic growth [2]. Group 2: RUA GOLD Inc. Developments - RUA GOLD has reported improving gold grades at its Auld Creek project in New Zealand, with significant results from recent drilling [3][8]. - The drilling results include intersections such as 9m at 5.9g/t AuEq and 1.25m at 48.3g/t AuEq, indicating a positive trend in gold grades with depth [8][12]. - The company is focused on expanding its resource base, with ongoing drilling targeting both northern and southern extensions of the Fraternal ore body [6][13]. Group 3: Antimony Market Insights - Antimony is increasingly valuable due to its applications in various sectors, including renewable energy and technology [7]. - The price of antimony has surged to over $50,000 per tonne, a significant increase from $11,350 per tonne at the beginning of 2024, reflecting heightened demand [10]. - Antimony is designated as a critical mineral by several countries, including the US, EU, and New Zealand, emphasizing its strategic importance [9][10]. Group 4: Exploration Potential - RUA GOLD's Auld Creek project has an inferred resource of 700,000 tonnes at 3.1g/t Au and 1.1% Sb, with potential for additional discoveries indicated by soil geochemistry [12]. - The project is situated between two past producing mines, enhancing its exploration potential [11].

Company Overview - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia, and has options to acquire 100% interests in two projects within an established mining camp that includes ten fully permitted and operating mines [4] - The company was founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value [4] Financial Reporting - Collective Mining has filed its SEC Annual Report on Form 40-F for the year ended December 31, 2024, which includes the Annual Information Form, audited Financial Statements, and Management's Discussion & Analysis [1] - Shareholders can request a hard copy of the complete audited Financial Statements for the year ended December 31, 2024, free of charge [2] Key Projects - The flagship project, Guayabales, is anchored by the Apollo system, which hosts a large-scale, bulk-tonnage, and high-grade gold-silver-copper-tungsten resource [5] - The company's objectives include improving the overall grade of the Apollo system, expanding the Apollo system along strike, and drilling newly generated targets such as Tower and X [5] Shareholder Alignment - Management and insiders own approximately 33.4% of the outstanding shares of the company, indicating alignment with shareholder interests [6] Corporate Information - Collective Mining is listed on the NYSE American and TSX under the trading symbol "CNL" and on the FSE under the trading symbol "GG1" [6]

Core Viewpoint - Agnico Eagle Mines Limited (AEM) has agreed to invest approximately C$52.16 million in Collective Mining Ltd. through a private placement, acquiring 4,741,984 common shares at C$11.00 each, and will also exercise warrants to acquire an additional 2,250,000 shares at C$5.01 each, increasing its stake in the company significantly [1][2][3]. Group 1: Investment Details - The private placement will close around March 20, 2025, subject to certain conditions [1]. - AEM will control a total of 12,718,219 common shares post-transaction, representing approximately 14.99% of the issued and outstanding shares on a non-diluted basis [3]. Group 2: Strategic Focus - AEM is focused on high-quality internal growth prospects while also acquiring strategic positions in projects with high geological potential [2]. - The investment in Collective Mining provides exposure to an early-stage gold exploration property in Colombia, which is led by an experienced team in a mining-rich region [2]. Group 3: Production and Financial Forecast - AEM anticipates producing between 3.3 to 3.5 million ounces of gold in 2025 [4]. - The company forecasts total cash costs per ounce to be between $915 and $965, with all-in sustaining costs (AISC) projected between $1,250 and $1,300 [4]. - Projected capital expenditures for 2025, excluding capitalized exploration, are estimated to be between $1.75 billion and $1.95 billion [4]. Group 4: Stock Performance - AEM's shares have increased by 90.3% over the past year, outperforming the industry average rise of 44.5% [3].

Core Viewpoint - Agnico Eagle Mines Limited has agreed to invest in Collective Mining Ltd through a private placement, acquiring a significant stake in an early-stage gold exploration project in Colombia, enhancing its portfolio of high-quality growth projects [1][2]. Investment Details - Agnico Eagle will subscribe for 4,741,984 common shares of Collective at C$11.00 per share, totaling C$52,161,824 [1]. - Concurrently, Agnico Eagle will exercise warrants to acquire an additional 2,250,000 common shares at C$5.01 per share, amounting to C$11,272,500 [1]. - Upon closing, Agnico Eagle will own 12,718,219 common shares, representing approximately 14.99% of the total issued shares on a non-diluted basis [3]. Strategic Rationale - The investment aligns with Agnico Eagle's strategy of acquiring positions in projects with high geological potential, particularly in regions with a strong mining history [2]. - The investment in Collective is seen as a way to enhance Agnico Eagle's exposure to gold exploration in Colombia, led by a capable management team [2]. Investor Rights Agreement - An investor rights agreement allows Agnico Eagle to maintain its ownership percentage through participation in future equity financings, with the ceiling for ownership interest increased from 9.99% to 14.99% [4]. - Agnico Eagle has the right to nominate board members, although it currently has no intention to exercise this right [4]. Company Overview - Agnico Eagle is a leading Canadian gold mining company and the third largest gold producer globally, with operations in Canada, Australia, Finland, and Mexico [6]. - The company has a strong track record of sustainability and has consistently provided shareholder value through annual cash dividends since 1983 [7].

Core Viewpoint - Collective Mining Ltd. has entered into an agreement with Agnico Eagle Mines Limited for a subscription of 4,741,984 common shares at C$11.00 per share, with total gross proceeds expected to be approximately $63.4 million from the offering and the exercise of existing warrants [1][2]. Group 1: Financial Details - Agnico Eagle will acquire 4,741,984 shares at C$11.00 per share, and will also exercise warrants to acquire an additional 2,250,000 shares at C$5.01 per share [1]. - The total gross proceeds from the offering and the exercise of the warrants will be approximately $63.4 million [1]. - Following the closing of the offering, Agnico Eagle's ownership interest in Collective Mining is expected to increase to approximately 14.99% [1]. Group 2: Use of Proceeds - The proceeds from the offering and the exercise of the warrants will be utilized for exploration on the company's properties in Colombia and for general working capital purposes [2]. - The company plans to continue its drill program at the Guayabales Project, with results expected to be released in the near term [2]. Group 3: Company Background - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia [4]. - The company's flagship project, Guayabales, is anchored by the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [5]. - Management and insiders own approximately 36% of the outstanding shares, indicating alignment with shareholders [6].

Core Insights - The company has made a significant discovery in the Ramp Zone, with an internal 3D model developed to explain its formation, suggesting potential for extensive mineralization beyond the current breccia body at Apollo [1][3] - A fully funded 60,000-metre drill program for 2025 is underway, with six drill rigs currently operational, targeting multiple projects including Apollo, Tower, and San Antonio [1][4] - The Ramp Zone has been expanded to dimensions of at least 75 metres of strike, 480 metres in width, and 150 metres vertically, remaining open in all directions [3] Drilling Program Objectives - The 2025 drilling objectives include improving the grade profile of the Apollo system, expanding the dimensions of the Ramp Zone, and testing the northern extension potential at shallower elevations [2][4] - The company aims to systematically drill test newly modeled high-grade sub-zones within the top 1,000 vertical metres to enhance the overall grade of the Apollo system [4][8] Assay Results - Drill hole APC105-D1 reported the best results to date in the Ramp Zone, with 75.80 metres at 8.01 g/t gold equivalent, including 21.00 metres at 24.16 g/t gold equivalent [4][5] - Drill hole APC103-D3 showed significant mineralization with 20.30 metres at 6.68 g/t gold equivalent from the Ramp Zone [4][5] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration in Caldas, Colombia, with options to acquire 100% interests in two projects within an established mining camp [7][8] - The flagship project, Guayabales, is anchored by the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [8][9] Shareholder Alignment - Management, insiders, and a strategic investor collectively own approximately 44.5% of the company's outstanding shares, indicating strong alignment with shareholder interests [9]