11:57 AM EDT, 04/02/2025 (MT Newswires) -- (Updates shares.)

Collective Mining ( CNL ) on Wednesday said it is expanding its 2025 drill program following the completion of recent financing for C$63.4 million, resulting in a treasury totaling more than US$78 million.

The company said it is now more than fully funded for an expanded 70,000-meter drilling program, which will include up to 10 diamond-drilling rigs in operation across the Guayabales and San Antonio projects. The program will be the largest in the history of the company.

Collective Mining ( CNL ) will also accelerate baseline environmental, hydrological and metallurgical studies so that permitting could begin at a faster pace than originally planned.

Collective Mining ( CNL ) shares were last seen up $0.26 to $12.69 on the Toronto Stock Exchange.

Price: 12.69, Change: +0.26, Percent Change: +2.09