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    Should High Grade Tungsten Discovery Require Action From Collective Mining (TSX:CNL) Investors?

    Simply Wall St·09/30/2026 07:21:26
    Listen to the news
    • Collective Mining reported past assay results from the Guayabales Project, including a new high-grade tungsten gold zone in schist outside the southern Apollo breccia margin and continued Ramp Zone drilling along the breccia circumference.
    • The combination of a brand-new tungsten target, a fully funded 2026 program backed by US$93.7 million in cash, and 13 active rigs adds operational depth to Collective Mining’s multi-metal story at Apollo.
    • The next focus will be on how Collective Mining’s investment narrative could shift as investors weigh this new high-grade tungsten gold discovery.

    Scan for other multi-metal stories with fresh drilling catalysts by reviewing the hand-picked 36 elite gold producer stocks that could sit alongside Collective Mining in a high-conviction watchlist.

    Collective Mining Investment Narrative Recap

    To be comfortable owning Collective Mining, you need to believe Apollo can mature into a district-scale, multi metal project with tungsten, gold, silver and copper all mattering over time. The recent high grade tungsten gold hit in schist and the broader Ramp Zone work feed into that idea, but do not change the basic fact that this is still a pre revenue explorer.

    Near term, the key catalyst remains drill results that could reshape the Mineral Resource around Apollo and the Ramp Zone. The largest risk is that future engineering or cost work, or a shift in funding conditions, makes it harder to justify moving from drilling success to an economic development case.

    The September 21 update on Apollo’s integrated processing flowsheet ties directly into the tungsten gold discovery. Management is now testing how to treat distinct metal sub domains so that copper and tungsten concentrate streams sit alongside a gold silver dor product. For you as a shareholder, the question is whether this flowsheet can scale without pushing capital or operating costs uncomfortably high.

    That same metallurgical work also connects to future catalysts. Strong lab recoveries across gold, silver, copper and tungsten, routed through gravity, flotation and cyanidation, could influence any future study on Apollo’s economics. The risk is that good recoveries in test work still need to translate into a buildable plant, in Colombia, that fits within whatever funding and permitting window Collective Mining can realistically secure.

    Collective Mining’s current forecasts point to revenue of $454.8 thousand and earnings of $142.9 thousand by 2029, which compares with earnings today that show a loss of $56.9 million. That shift implies an earnings improvement of about $57.0 million from today’s level to the 2029 consensus figure.

    Uncover why Collective Mining's fair value indicates an 85% potential upside to its current price that could narrow quickly.

    TSX:CNL 1-Year Stock Price Chart
    TSX:CNL 1-Year Stock Price Chart

    Exploring Other Perspectives

    Two fair value estimates from the Simply Wall St Community cluster tightly between $32.8 and $33.6, which shows how closely some retail investors currently group their expectations for Collective Mining. Fresh tungsten gold drilling, flowsheet work and funding needs give you reasons to question those pre news views and to compare multiple opinions.

    Explore another Collective Mining fair value estimate, including one that suggests there could be as much as 90% upside from the current price.

    Reach Your Own Conclusion

    Don't just follow the ticker; dig into the data and build a conviction that's truly your own.

    Looking for more investment ideas beyond Collective Mining?

    If you want to balance your view of Collective Mining with a wider watchlist, it helps to scan for other businesses that match different parts of your playbook, from value to resilience to future potential.

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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.