Expected Moves

Anticipated assay results from the 100,000m drill program at the Guayabales project could validate the high-grade Ramp Zone extension at $21.50, or miss expectations falling to $15.50.

Q3 earnings will outline the cash burn rate of the 13-rig drill program, risking a drop to $19.00 on widening net losses or a bump to $23.50 on efficient capital deployment.

The highly anticipated Maiden Mineral Resource Estimate could fundamentally de-risk the Apollo discovery, establishing a $25.50 valuation or triggering a severe reset to $14.50 if tonnage disappoints.

Full-year financials and the 2027 exploration budget announcement could propel the stock to $28.00 or induce a retracement to $22.00 if future dilution risks emerge.

Any updates regarding Colombian mining regulations or environmental permitting could relieve overhang pushing shares to $25.00, or confirm strict policy headwinds dropping it to $16.00.