$CNL

Collective Mining Ltd.

CIK:0001953575|SEC Filings

Consolidated Statement of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Expenses
Exploration and evaluation	$ (32,490,168)	$ (18,064,865)
General and administration	(9,516,288)	(5,768,262)
Total	(42,006,456)	(23,833,127)
Other income (expenses)
Revaluation of warrants liability	(10,564,475)	(2,115,036)
Foreign exchange gain (loss)	602,839	(1,913,870)
Other income (expense)	1,186	5,126
Net loss before finance items and income tax	(51,966,906)	(27,856,907)
Finance income (expense)
Interest income	2,982,099	1,097,816
Finance costs	(873,548)	(189,831)
Net loss before income tax	(49,858,355)	(26,948,922)
Income tax
Net loss and comprehensive loss	$ (49,858,355)	$ (26,948,922)
Basic loss per common share (in Dollars per share)	$ (0.58)	$ (0.33)
Diluted loss per common share (in Dollars per share)	$ (0.58)	$ (0.33)
Weighted average common shares outstanding, basic (in Shares)	85,322,944	68,401,442
Weighted average common shares outstanding, diluted (in Shares)	85,322,944	68,401,442

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
Consolidated Statement of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Cash flows from (used in) operating activities
Net loss	$ (49,858,355)	$ (26,948,922)
Items not involving cash and cash equivalents:
Revaluation of warrants liability	10,564,475	2,115,036
Finance costs expensed	265,707	115,974
Foreign exchange (gain) loss	(562,068)	1,913,870
Share-based compensation	2,785,614	1,167,109
Depreciation and amortization	808,511	339,857
Net changes in working capital items	118,993	(1,273,526)
Cash flows from (used in) operating activities	(35,877,123)	(22,570,602)
Cash flows from (used in) financing activities
Cash proceeds from issuance of shares	136,988,030	47,255,102
Cash costs related to issuance of shares	(4,669,266)	(2,928,530)
Financing costs paid		(65,849)
Cash proceeds from warrant exercises	7,857,044	4,351,656
Cash received from option exercises	1,288,714	798,706
Lease payments	(730,072)	(114,790)
Cash flows from (used in) financing activities	140,734,450	49,296,295
Cash flows from (used in) investing activities
Mining concession asset	(8,708,334)
Acquisition of property, plant and equipment	(5,887,941)	(238,925)
Intangible	(60,000)
Cash flows from (used in) investing activities	(14,656,275)	(238,925)
Net change in cash and cash equivalents during the period	90,201,052	26,486,768
Cash and cash equivalents, opening balance	38,930,957	14,166,196
Foreign exchange effect on cash balances	515,412	(1,722,007)
Cash and cash equivalents, end of period	129,647,421	38,930,957
Non-cash transactions:
Mining concession asset	1,874,666
Acquisition of property, plant and equipment	3,471,046
Additions of right-of-use assets (ROU)	1,930,872
Non-cash transactions	$ 7,276,584

Consolidated Statement of Financial Position - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 129,647,421	$ 38,930,957
Receivables and prepaid expenses	1,607,818	683,655
Current assets	131,255,239	39,614,612
Non-current assets:
Mining concession asset	11,621,703
Property, plant and equipment	11,214,207	680,062
Intangibles	60,000
VAT receivable	3,894,616	2,261,717
Non current assets	26,790,526	2,941,779
Total assets	158,045,765	42,556,391
Current liabilities:
Account payables and accrued liabilities	4,818,237	2,229,583
Warrants liability		3,163,115
Current portion provision for environmental remediation	652,131
Current portion of lease liability	722,050	82,795
Current portion of other long-term liabilities	2,470,586
Current liabilities	8,663,004	5,475,493
Non-current liabilities:
Provision for environmental remediation	937,240
Lease liability	1,136,276	72,732
Other long-term liabilities	2,181,709
Non-current liabilities	4,255,225	72,732
Total liabilities	12,918,229	5,548,225
Equity:
Share capital	243,720,586	102,256,065
Contributed surplus	33,623,682	17,110,478
Deficit	(132,216,732)	(82,358,377)
Equity	145,127,536	37,008,166
Total liabilities and equity	$ 158,045,765	$ 42,556,391