TORONTO,
Dec. 16,
2024 /CNW/ - Collective Mining
Ltd. (NYSE: CNL) (TSX: CNL)
("Collective" or the "Company") announces
with profound sadness, that Mr. Paul
Murphy, a valued member of Collective's Board of Directors,
passed away.
Paul Murphy
was a Partner of PricewaterhouseCoopers LLP from 1981 to 2010
including serving as National Mining Leader from 2004 to 2010.
Throughout his career, Mr. Murphy worked primarily in the resource
sector, with a client list that includes major international oil
and gas, and mining companies. He was previously a Director of
Continental Gold until its acquisition in March 2020, Chief Financial Officer and Executive
Vice President of Guyana Goldfields from 2010 to 2018, and Chief
Financial Officer of Guyana Precious Metals from 2012 to 2018. Mr.
Murphy obtained a Bachelor of Commerce degree from Queen's
University and his Chartered Accountant designation in
1975.
Ari Sussman,
Executive Chairman commented: "It is with sadness we announce the
loss of Paul as a director of the Company. Paul will always
be remembered fondly for his supportive leadership, professionalism
and warm nature. Our thoughts are with his family and loved
ones."
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 gold, silver, copper 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 gold-silver-copper-tungsten Apollo
system. The Company's objectives are to expand the Apollo system by
stepping out along strike and testing the newly discovered
high-grade Apollo Ramp Zone, expand
the Trap system and drill a series of newly generated targets
including Tower and X.
Management, insiders, a strategic investor
and close family and friends own 44.5% 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".
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 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.
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SOURCE Collective Mining Ltd.