The Globe and Mail reports in its Friday, Oct. 24, edition that National Bank Financial analyst Don DeMarco rates Collective Mining "outperform" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco set a share target of $22.75. Analysts on average target the shares at $21.50. Mr. DeMarco says in a note: "Collective Mining is advancing the highly prospective gold-silver-copper-tungsten targets in Colombia's prolific porphyry district, anchored by its flagship Apollo system at Guayabales, approximately two kilometres north of Aris Mining's 8.8 million ounce gold Marmato complex. Apollo is underpinned by an expanding database of wide, high-grade intercepts placing it among the major new discoveries this exploration cycle and heightening anticipation for the maiden resource in H2/26. Our target and rating is based on a 0.60 times NAVPS estimate and considers several positive attributes including our estimated total resource of nine million ounces, prospective exploration upside and development tailwinds in an existing mining district endowed with infrastructure, tempered by the early stage with pending resource estimation, scoping studies, PEA and FS derisking."