TORONTO, Aug. 7, 2024
/CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL)
("Collective" or the "Company") is pleased to announce the release
of its 2023 Sustainability Report, which outlines and critics the
Company's impacts, mitigation measures, and overall stewardship of
the environment, communities, and corporate governance in the
Department of Caldas, Colombia. In
2023, Collective Mining materially increased its social investment
as compared to the 2022 period, with over $280,000 invested on a standalone basis and
$822,944 on a cumulative basis with
strategic partners. Investments include but are not limited to
community projects, aqueduct enhancements, road construction,
communal facility improvements, agricultural initiatives, and
support for women entrepreneurs, benefiting over 1,700
individuals.
Notable highlights in 2023 from the Sustainability Report are as
follows:
- A favorable Total Recordable Injury Frequency Rate (TRIFR) of
0, closing 2023 with a record of 710 days without lost time
incidents.
- Planting 1,900 seedlings to protect areas close to sources of
water with particular emphasis on supporting aqueducts in our area
of influence.
- The Company conducted its second carbon footprint assessment
and achieved carbon neutrality by purchasing 700 offset credits
from the conservation project "Delfines Cupica REDD+."
Omar Ossma, President and CEO stated, "By integrating our
sustainability initiatives at such an early stage into our
operating matrix, we are building a strong foundation in our host
region, which will serve to ensure a successful mining project in
the future. This is 'The Collective Way'. As always, we want to
extend our appreciation to all of our strategic partners in the
region, as well as to the communities, for allowing us to be a part
of their programs and participate in their everyday life."
The report is available on the Company's website at
www.collectivemining.com under Sustainability.
About Collective Mining Ltd.
To see our latest
corporate presentation and related information, please visit
www.collectivemining.com
Founded by the team that developed and sold Continental Gold
Inc. to Zijin Mining for approximately $2
billion in enterprise value, Collective is a copper, silver,
gold and tungsten exploration company with projects in Caldas,
Colombia. The Company has options
to acquire 100% interests in two projects located directly within
an established mining camp with ten fully permitted and operating
mines.
The Company's flagship project, Guayabales, is anchored by the
Apollo system, which hosts the large-scale, bulk-tonnage and
high-grade copper-silver-gold-tungsten Apollo porphyry system. The
Company's 2024 objective is to expand the Apollo system, step out
along strike to expand the recently discovered Trap system and make
a new discovery at either the Tower, X or Plutus targets.
Management, insiders, a strategic investor and close family and
friends own nearly 50% of the outstanding shares of the Company and
as a result, are fully aligned with shareholders. The Company is
listed on the NYSE under the trading symbol "CNL", on the TSX under
the trading symbol "CNL", on the FSE under the trading symbol
"GG1".
Information Contact:
Follow Executive Chairman Ari
Sussman (@Ariski73) on X
Follow Collective Mining (@CollectiveMini1) on
X, (Collective Mining) on LinkedIn, and
(@collectivemining) on Instagram
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities legislation (collectively, "forward-looking
statements"). All statements, other than statements of historical
fact, are forward-looking statements and are based on expectations,
estimates and projections as at the date of this news release. Any
statement that involves discussion with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often, but not always using phrases
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved)
are not statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the anticipated advancement of
mineral properties or programs; future operations; future recovery
metal recovery rates; future growth potential of Collective; and
future development plans.
These forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding future events including final listing mechanics
and the direction of our business. Management believes that these
assumptions are reasonable. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others:
risks related to the speculative nature of the Company's business;
the Company's formative stage of development; the Company's
financial position; possible variations in mineralization, grade or
recovery rates; actual results of current exploration activities;
conclusions of future economic evaluations; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold, precious and base
metals or certain other commodities; fluctuations in currency
markets; change in national and local government, legislation,
taxation, controls regulations and political or economic
developments; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formation pressures, cave-ins and flooding); inability to obtain
adequate insurance to cover risks and hazards; the presence of laws
and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government
authorities); and title to properties, as well as those risk
factors discussed or referred to in the annual information form of
the Company dated March 27, 2024.
Forward-looking statements contained herein are made as of the date
of this news release and the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results, except as may be required by
applicable securities laws. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements and there may be other factors that
cause results not to be anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements.
SOURCE Collective Mining Ltd.
