Core Viewpoint - Collective Mining Ltd. has announced positive assay results from five diamond drill holes at the Apollo system, indicating strong mineralization and potential for expansion of the gold-silver-copper-tungsten resources in the Guayabales Project in Caldas, Colombia [1][5][10]. Company Overview - Collective Mining Ltd. is focused on exploring and developing gold, silver, copper, and tungsten projects in Colombia, with a significant emphasis on the Guayabales Project, particularly the Apollo system [9][10]. - The company has a history of successful project development, having previously sold Continental Gold Inc. for approximately $2 billion [9]. Drilling Program - The company is conducting a fully funded 70,000-meter drill program for 2025, with ten drill rigs currently operational, eight at the Guayabales Project and two at the San Antonio Project [2][3]. - Approximately 131,500 meters of diamond drilling have been completed at the Guayabales Project, with 92,000 meters specifically at Apollo [3]. Assay Results - Recent assay results from five drill holes show high-grade mineralization, including: - APC-125: 442.35 meters at 2.16 g/t gold equivalent from surface, including 68.05 meters at 4.55 g/t [5][7]. - APC-126: 325.10 meters at 2.03 g/t gold equivalent from 8 meters downhole [5][7]. - APC-124: 99.75 meters at 2.09 g/t gold equivalent from 20.95 meters downhole [5][7]. - The shallow drilling program has expanded the volume of the shallow mineralized area by approximately 5% [7]. Future Plans - The company plans to continue drilling to define and expand high-grade sub-zones and test additional gravity targets, with expectations of making further discoveries by the end of 2025 [3][10]. - A second deep capacity drill rig is expected to arrive in Q3 2025 to further explore the high-grade Ramp Zone [2][3].

Core Viewpoint - The article emphasizes the importance of value investing and highlights Pan American Silver (PAAS) as a strong value stock based on its favorable valuation metrics and earnings outlook [3][7]. Valuation Metrics - PAAS has a Price-to-Book (P/B) ratio of 1.71, which is attractive compared to the industry average of 1.73. The P/B ratio has fluctuated between 2.10 and 1.46 over the past 52 weeks, with a median of 1.72 [4]. - The Price-to-Sales (P/S) ratio for PAAS is 2.79, which is lower than the industry's average P/S of 3.57, indicating a potentially undervalued stock [5]. - PAAS's Price-to-Cash Flow (P/CF) ratio stands at 9.35, significantly lower than the industry average of 12.69. The P/CF ratio has ranged from 23.64 to 8.81 in the past year, with a median of 18.29 [6]. Investment Outlook - Given the strong earnings outlook and favorable valuation metrics, PAAS is considered likely undervalued and a great value stock at the moment [7].

Company Overview - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia [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] - Management and insiders own approximately 33.4% of the outstanding shares, aligning their interests with shareholders [6] Recent Developments - Collective Mining will be added to the MSCI Canada Small Cap Index, effective after the close of trading on May 30, 2025 [1] - The addition to the index was announced by MSCI Inc. on May 13, 2025, following their index review [1][2] Project Highlights - The flagship project, Guayabales, is anchored by the Apollo system, which hosts large-scale, bulk-tonnage, and high-grade mineralization [5] - The company's objectives include improving the overall grade of the Apollo system, expanding the system along strike, and drilling newly generated targets [5]