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    Collective Mining (TSX:CNL): Valuation Check After New Apollo Assays and Expanded 2026 Drilling Plans

    Simply Wall St·12/08/2025 22:13:19
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    Collective Mining (TSX:CNL) just released fresh assay results from its Ramp Zone at the Apollo system, confirming broad, continuous gold mineralization and supporting an even larger, fully funded drilling program into 2026.

    See our latest analysis for Collective Mining.

    Those Ramp Zone hits help explain why the 1 year total shareholder return has surged 222.00 percent, even after a recent 90 day share price return of negative 13.79 percent. This suggests that long term momentum is still very much intact.

    If this kind of high risk, high reward story has your attention, it could be a good moment to explore fast growing stocks with high insider ownership for other potential standouts.

    With the stock still trading at a hefty discount to analyst targets despite explosive multi year returns, are investors being offered an early entry into a growing discovery, or is the market already discounting future ounces?

    Price-to-Book of 17.3x: Is It Justified?

    Based on its current CA$15.81 share price, Collective Mining screens as expensive on a price-to-book basis versus both peers and the wider Canadian metals and mining sector.

    The price-to-book ratio compares a company’s market value to its net assets; it is a common yardstick for asset heavy, early stage resource names that lack meaningful revenue and profits. With no revenue and ongoing losses, this type of multiple effectively captures how much investors are paying today for the company’s exploration portfolio and future discovery potential rather than current cash generation.

    At 17.3 times book value, investors are assigning Collective Mining a far richer asset premium than the Canadian metals and mining industry average of 2.7 times and even above the peer average of 16.1 times. That kind of mark up suggests the market is already pricing in a successful outcome at Guayabales and beyond, leaving less room for error if drilling results or permitting timelines disappoint.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price-to-Book of 17.3x (OVERVALUED)

    However, setbacks at Guayabales drilling, slower permitting, or sustained losses could quickly compress that premium and force a painful reset in expectations.

    Find out about the key risks to this Collective Mining narrative.

    Build Your Own Collective Mining Narrative

    If you see things differently or want to test your own assumptions against the numbers, you can build a personalized narrative in just minutes: Do it your way.

    A great starting point for your Collective Mining research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.