Collective Mining Ltd.
CNL · Gold and Silver Ores · EDGAR filings ↗
Grade
C60Cash-rich gold/silver exploration company in Colombia with a long runway but no revenue.
Strengths
- $130M cash (64th pct) and ~12 quarters runway; current ratio 15 (88th pct) gives ample flexibility
- Improving loss trend (net income growth 64th pct)
Risks
- No revenue or production; negative returns (ROE -0.34, ROA -0.32)
- Exploration outcomes binary and FCF deeply negative as drilling continues
Notable findings
- No interest coverageInterest coverage -48.09 (cannot cover interest)
- Cash burnNegative free cash flow (-41.8M)
- Strong balance sheetStrong balance sheet — $130M cash & investments, ~12 quarters of runway
Key metrics
Return on equity
-34.4%
Return on assets
-31.5%
Interest coverage
-48.1×
Current ratio
15.2×
Free cash flow
-$42M
Tangible book value
$145M
Cash & investments
$130M
Cash runway
12q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-31 | 2025-12-31 | 0001213900-26-037056 ↗ |
| 40-F | 2025-03-26 | 2024-12-31 | 0001013762-25-002553 ↗ |