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Collective Mining

Gold explorer, with a project stated to be in Cauca Department, Colombia.

NoneColombia — as stated on the recordings

explorer gold NoneColombia
Jan 2025 → May 2026Covered
8 of 10Topics on record
2Figures tracked over time
2 executivesNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company · 3 independent recordings
Stage
Explorer
Primary commodity
Gold
Jurisdiction
Cauca Department, Colombia
Deposit
Apollo system - multi-element deposit
Latest appearance
22 May 2026
On record
2 interviews · 26 statements · 2 executives

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
between 5 to 10 million potential ounces
Management-stated Ned Jalil May 2026
Money on hand
over 100 million US dollars in the bank at end of Q1
Stated capital need: potentially one more raise before asking for full capital to build
Management-stated Ned Jalil May 2026
What happens next
measured, indicated and inferred resource release potentially mid 2027
Management-stated Ned Jalil May 2026
The main open question
Capital intensity and a Colombian jurisdiction present execution risk.
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
4 independent voices on record — 3 constructive, 1 neutral
Jacques Bonneau, Dustin Perry, Robert Eckford, Ari Sussman
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Cash position 15.5 millionover 100 million ● Higher 2 statements on record
09 Jan 2025
15.5 million recorded as cash and cash equivalents as of September 30 of 2024
“15.5 million of which at the time was recorded as cash and cash equivalents”
22 May 2026
over 100 million US dollars in the bank at end of Q1
“end of Q1, we have over 100 million US dollars in the bank.”
Resource size ≠ Different basis One statement qualifies the figure and the other does not (potential) 2 statements on record
09 Jan 2025
goal is to define 10 million plus ounces
“if we can Define 10 million plus ounces and that is our goal”
22 May 2026
between 5 to 10 million potential ounces
“we are uh targeting a a deposit between 5 to 10 million potential ounces, right?”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Collective Mining's own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

4 independent voices — people who do not speak for the company — across 4 mentions.

3 constructive 1 neutral
  • Jacques Bonneau “He says he made money in it while rotating through the gold/multi-metals move.”
  • Dustin Perry “Ashwath Mehra is lead director at Collective Mining in Colombia; mentioned as part of his credentials.”
  • Robert Eckford “He references Agnico taking a stake in it as an example of majors funding growth pipelines.”
  • Ari Sussman “Interview frames the company as underpinned by strong insider ownership, cash, and multiple drill catalysts at Apollo/X/Tower.”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the team, which sold Continental Gold for C$2 billion in 2020, is targeting a 10-million-ounce, tier-one deposit in Colombia's Cauca Department with potential to produce over 500,000 ounces annually.

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

Management says the team, which sold Continental Gold for C$2 billion in 2020, is targeting a 10-million-ounce, tier-one deposit in Colombia's Cauca Department with potential to produce over 500,000 ounces annually. The company has over $100 million in cash, owns 25% internally, and gold prices are now significantly higher than at the prior exit. An outside investor noted that Agnico's stake demonstrates major funding of growth pipelines.

▼ Bear case

Capital intensity and a Colombian jurisdiction present execution risk.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

Capital intensity and a Colombian jurisdiction present execution risk. Management says one more fundraise is needed before construction funding, and a maiden resource statement is not due until mid-2025, with full measured-indicated-inferred resource only potentially by mid-2027. Community support is noted as strong but the CEO acknowledged it can "turn on a dime." Material from independent voices is limited; no third-party technical or permitting commentary is provided.

◆ Watch next

Maiden resource statement targeting first half 2025; Apollo system has 120,000+ meters drilled already with 80,000+ meters planned this year.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

Maiden resource statement targeting first half 2025; Apollo system has 120,000+ meters drilled already with 80,000+ meters planned this year. Full measured-indicated-inferred resource release potentially mid-2027. The company must secure its next financing round before full-build capital is requested.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 11 statements

The deposit 5

Key takeaway. Collective Mining's management describes the Apollo system as a multi-element deposit containing copper, gold, silver and tungsten (May 2026).

Read the full summary

In May 2026 management estimated the resource size at between 5 to 10 million potential ounces, while in January 2025 they stated the goal was to define 10 million plus ounces. The company also reports that it is targeting a 10 million ounce, tier one asset that could potentially produce over 500,000 ounces per year over a potential 10-year mine life (May 2026).

What was actually said
deposit type
Apollo system - multi-element deposit
“In the Guabalis project, we have our uh prime discovery which is the Apollo system”
Ned Jalil· 22 May 2026·
deposit type
multi-element deposit with copper, gold, silver and tungsten
“which is a multi- um uh element uh depo deposit that's has copper, gold, silver and even uh tungsten”
Ned Jalil· 22 May 2026·
exploration upside
targeting a 10 million ounces, tier one asset potentially producing over 500,000 ounces per year potentially over 10 years of mine life
“We are on a journey to identify a a 10 million ounces and as a as an operator or an exoperator myself. uh I am uh you know working with the team to build uh what I believe one day would be a tier one asset”
Ned Jalil· 22 May 2026·
Show the other 2 statements
resource size
between 5 to 10 million potential ounces
“we are uh targeting a a deposit between 5 to 10 million potential ounces, right?”
Ned Jalil· 22 May 2026·
resource size
goal is to define 10 million plus ounces
“if we can Define 10 million plus ounces and that is our goal”
Collective Mining· 09 Jan 2025·

Jurisdiction 5

Key takeaway. Management reports that Collective Mining operates two projects, San Antonio and Guabalis, in the Cauca Department of Colombia as of May 2026.

Read the full summary

The company also states it has very strong support for the project from the local communities (January 2025).

What was actually said
country
Colombia
“Um our assets are in Calus, the state of Calus or as we call it in Colombia, the Department of Calus.”
Ned Jalil· 22 May 2026·
permit status
Two projects: San Antonio and Guabalis
“Um our assets are in Calus, the state of Calus or as we call it in Colombia, the Department of Calus. Um and we own at this moment two projects the San Antonio project and the Guabalis project.”
Ned Jalil· 22 May 2026·
region
Cauca Department, Colombia
“Um our assets are in Calus, the state of Calus or as we call it in Colombia, the Department of Calus.”
Ned Jalil· 22 May 2026·
Show the other 2 statements
community agreement
company has very strong support for the project by the communities in which we operate
“we do we have very strong but I my career I've seen that turn unfortunately on a dime”
Collective Mining· 09 Jan 2025·
country
Colombia
“I'm traveling to Colombia and specifically the Kass department”
Collective Mining· 09 Jan 2025·

Technical risk 1

What was actually said
key assumption
over 120,000 meters in Apollo system with 80,000 meters of drilling planned this year
“We have over 120,000 meters in in the Apollo system. Um so we are we have been and are drilling aggressively like this year we're planning over 80,000 meters of drilling in in the Apollo system.”
Ned Jalil· 22 May 2026·

Economics 5 statements

Economics 1

What was actually said
price assumption
gold price is significantly higher than when Continental gold was sold in 2020
“gold prices where it is today which is significantly higher than we sold Continental gold”
Collective Mining· 09 Jan 2025·

Financing 4

Key takeaway. Management has described a shifting cash position over time.

Read the full summary

The company reported cash and cash equivalents of $15.5 million as of September 30, 2024 (Jan 2025). A financing for over $46 million was closed at the end of October (Jan 2025), and by the end of Q1 (May 2026), management says the company had over $100 million US dollars in the bank. The company also reports that one more raise may be needed before asking for full capital to build (May 2026).

What was actually said
capital needed
potentially one more raise before asking for full capital to build
“I see us, you know, potentially needing one raise uh before the uh you know, asking for the full capital to build”
Ned Jalil· 22 May 2026·
cash position
over 100 million US dollars in the bank at end of Q1
“end of Q1, we have over 100 million US dollars in the bank.”
Ned Jalil· 22 May 2026·
cash position
15.5 million recorded as cash and cash equivalents as of September 30 of 2024
“15.5 million of which at the time was recorded as cash and cash equivalents”
Collective Mining· 09 Jan 2025·
Show the other 1 statement
financing status
a financing for over $46 million was closed at the end of October
“a financing for over $46 million was closed at the end of October”
Collective Mining· 09 Jan 2025·

Timeline 2 statements

Timeline 2

Key takeaway. Management of Collective Mining says a maiden resource statement is targeted for the first half of next year (May 2026).

Read the full summary

The company further reports that a measured, indicated and inferred resource release could potentially follow in mid 2027 (May 2026).

What was actually said
milestone
measured, indicated and inferred resource release potentially mid 2027
“releasing measured, indicated and inferred in in potentially mid of of 2027.”
Ned Jalil· 22 May 2026·
study due
maiden resource statement targeting first half of next year
“we are working towards our first initial maiden resource uh statement which we are targeting uh next year in the first half of next year.”
Ned Jalil· 22 May 2026·

Corporate 8 statements

Management 4

Key takeaway. Management highlights its track record in the sector.

Read the full summary

The CEO is a mining engineer with 25 years of experience driving assets from exploration through production, and the chairman and team previously sold Continental Gold to Zena for over two billion Canadian in 2020, the company reports. The company also notes that management owns about 20% of the company, with the executive chairman holding 11 million shares at an average cost of around a dollar and a half per share.

What was actually said
prior exit
Chairman Ari Susman and team at Continental Gold sold to Zena for over two billion Canadian in 2020
“The three of them were part of Continental Gold which they formed from scratch and sold to Zen uh for over two billion Canadian uh I believe in the year 2020.”
Ned Jalil· 22 May 2026·
track record
CEO is mining engineer with 25 years experience driving assets from exploration through production
“my name is Ned Jalil. I'm a mining engineer by background over 25 years experience and my career has been um heavy on driving assets into success uh taking them from early stage exploration all the way through uh production”
Ned Jalil· 22 May 2026·
insider ownership
management owns about 20% of the company, executive chairman owns 11 million shares with average cost around dollar and a half per share
“management um owns about 20% uh of the company uh I own 11 million shares okay I have exposure to more than 11 million shares out of 77.5 million shares a as you noted my average cost is somewhere around dollar and a half”
Collective Mining· 09 Jan 2025·
Show the other 1 statement
track record
sold Continental gold in March of 2020 for about two billion Canadian in total value
“we sold our prior company named Continental gold in March of 2020 for about two billion Canadian in total value”
Collective Mining· 09 Jan 2025·

Share structure 4

Key takeaway. In January 2025, Collective Mining's management reported a share structure of about 77.6 million shares outstanding, with 3.4 million options and 2.2 million warrants.

Read the full summary

Management stated that about 25% of the company is owned by management, with 19.5% owned by insiders and strategic investors.

What was actually said
insider stake
about 25% owned by management, 19.5% owned by insiders and strategic investors
“about a quarter of the company or 25% is owned by management 19.5% is owned by insiders and strategic investors”
Collective Mining· 09 Jan 2025·
options
3.4 million options
“3.4 million options”
Collective Mining· 09 Jan 2025·
shares outstanding
about 77.6 million shares outstanding
“about 77.6 million shares outstanding”
Collective Mining· 09 Jan 2025·
Show the other 1 statement
warrants
2.2 million warrant
“there are 2.2 million warrant”
Collective Mining· 09 Jan 2025·

Outside views 4 mentions

4 mentions by people who do not speak for the company — 3 constructive, 0 cautious, 1 neutral. These are their views, not the company's.

Jacques Bonneau
bullish
He says he made money in it while rotating through the gold/multi-metals move.
MiningStockEducation.com· 06 Feb 2026·
Dustin Perry
neutral
Ashwath Mehra is lead director at Collective Mining in Colombia; mentioned as part of his credentials.
Crux Investor· 27 Sep 2025·
Robert Eckford
bullish
He references Agnico taking a stake in it as an example of majors funding growth pipelines.
Commodity Culture· 05 Jun 2025·
Ari Sussman
bullish
Interview frames the company as underpinned by strong insider ownership, cash, and multiple drill catalysts at Apollo/X/Tower.
Resource Talks· 09 Jan 2025·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
22 May 2026 Rule Investment Media Ned Jalil, CEO of Collective Mining | Rule Symposium 2026: Rick Rule interviews 14
09 Jan 2025 Resource Talks GOLD, SILVER & COPPER: Large Porphyry in Colombia | Collective Mining Interview 12

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

continental gold 2
apollo system 1
guabalis project 1
maratón 1
ramp zone 1
san antonio project 1
tower target 1

Questions people ask

What is Collective Mining's project and where is it?

Collective Mining is a explorer gold company, with a project stated to be in Colombia. Everything here is drawn from its executives' own interviews.

Which interviews mention Collective Mining?

We track 2 interviews mentioning Collective Mining, across 2 channels (Resource Talks, Rule Investment Media).

What are investors saying about Collective Mining?

4 independent voices — people who do not speak for the company — are on record discussing it (3 bullish, 1 neutral). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Collective Mining cover?

The most-discussed topics on record are the deposit, jurisdiction, financing, management — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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