Collective Mining's Ramp Zone Keeps Finding Bonanza Gold, and Gibson Energy Bets Big on the WCS Glut

Happy Tuesday! Pour the double-double: it's election day in the US, fresh strikes on Iran have oil swinging in both directions, and a junior gold explorer in Colombia just put down one of its best holes yet.

Collective Mining's drill bit found another bonanza vein at Apollo's Ramp Zone, grading close to six ounces to the tonne in spots. Gold and silver both backed off their recent highs even as safe-haven demand stayed real, while WTI and natural gas firmed on the geopolitical jitters. On the energy side, Gibson Energy sanctioned a new pipeline expansion built for exactly the kind of Western Canadian oil glut showing up in today's numbers.

As of Nov. 3, 2026, late afternoon/evening ET · Sources: Kitco, Trading Economics, YCharts, investing.com, OilPriceAPI

🥇 Gold (spot): $3,928.90/oz 📉
🥈 Silver (spot): $49.53/oz 📉
🔌 Copper: $6.38/lb 📉
☢️ Uranium (U₃O₈ spot): $92.15/lb 📉
🛢️ WTI Crude: $96.78/bbl 📈
🔥 Natural Gas (Henry Hub): $2.91/MMBtu 📈
🍁 TSX-V Composite: 794.69 📉
💵 U.S. Dollar (DXY): 101.87 📈
🏷️ WCS-WTI Differential: $12.77/bbl discount 📈 (widening)

Election-day nerves and fresh Middle East strikes kept gold and silver's safe-haven bid alive even as both metals cooled off their recent highs, while WTI and Henry Hub firmed. The number that matters most for the energy stories below: the WCS discount just blew out to its widest since 2018, the exact gap Gibson Energy's new pipeline bet is built to close.

What happened. Collective Mining $CNL.TSX ( ▲ 12.4% ) (NASDAQ/TSX: CNL) released assays from hole APC174-D4 at the Ramp Zone of its Apollo deposit, part of the Guayabales project in Caldas, Colombia. The hole ran 154.30 metres averaging 12.66 g/t gold-equivalent from 1,208 metres down, including a juicier 30.45 metres at 39.01 g/t AuEq, including a genuinely bonkers 4.75 metres at 184.25 g/t AuEq. It cut the southeastern edge of the Apollo breccia, came in above the existing resource model, and ended in mineralization both shallower and deeper than predicted, meaning it's still open. As Executive Chairman Ari Sussman put it in the release: this hole didn't run out of gold, it ran out of rods.

Why it happened. Apollo keeps rewarding step-outs. The model for this part of the breccia predicted a certain grade and width, and the real hole beat it on both counts while extending the known mineralized footprint, exactly what you want heading into the next resource update.

What it means for your position. Collective Mining is one of the most widely held junior gold names on the board, and holes like this are why. A bonanza interval averaging close to six ounces a tonne doesn't happen often, and it happening outside the current resource model means Apollo may still be growing. One disclosure note: Collective's profile sits on MiningNewsWire's client roster, carrying the standard compensation boilerplate, though nothing in this week's disclosure trail points to a paid placement behind this specific release. The rock here looks real; it's still worth checking the byline on names you don't know as well.

👉 Read the full story

RZOLV Technologies $RZOLF ( ▲ 2.0% ) (OTCQB: RZOLF) and private partner Aurquest Alaska are moving from bench tests to an actual pilot plant.

So what. Watch for the pilot's actual recovery rates once it's running, not just the ground-breaking press release. That's the number that decides whether this chemistry is a real alternative to cyanide or just a cleaner story.

👉 Dig in

Blue Moon Metals $BMM ( ▼ 9.87% ) (NASDAQ: BMM) signed a deal to sell its entire Norwegian subsidiary, holder of the construction-stage Nussir copper mine and the NSG exploration property, to London-listed ACG Metals for US$220 million, paid entirely in ACG shares. Blue Moon ends up owning roughly 8.85 million ACG shares (about 27.6% of the company on a basic basis), locked up for six months, with plans to hand those shares straight through to its own shareholders within a year. More than 80% of ACG's holders have already signed support agreements, and the deal is expected to close November 30. Blue Moon keeps roughly US$125 million in cash and shifts its focus to a slate of US critical-metals projects.

So what. It's an odd pivot: a company that only recently pushed Nussir to a construction decision is now cashing out its flagship asset for stock in the buyer rather than cash, then planning to pass those shares straight to shareholders instead of banking the proceeds itself. Watch whether ACG's share price holds up between now and the distribution; that's what the payout is actually worth.

👉 See the details

What happened. Gibson Energy $GEI.TSX ( ▲ 2.25% ) (TSX: GEI) posted record Q3 2026 results: consolidated adjusted EBITDA of $192.9 million, up from $147.1 million a year ago, infrastructure adjusted EBITDA of $177.1 million, and marketing adjusted EBITDA of $34.5 million, more than five times last year's number. Net income came in at $77.0 million and distributable cash flow at $119.7 million. In the same release, the board sanctioned the Chauvin Pipeline Expansion, expected to lift system capacity roughly 50%, targeting an in-service date in the first half of 2028, and declared a $0.45 per share quarterly dividend.

Why it happened. Infrastructure growth from last year's Chauvin asset acquisition and record TMX-linked throughput did the heavy lifting, while marketing profited from elevated crack spreads. Growing Mannville-area production and strong customer commitments gave the board enough confidence to green-light more pipeline capacity years ahead of need.

What it means for your position. More egress out of a capacity-constrained basin is exactly what the market wants right now: the WCS discount just blew out to its widest since 2018, and a 2028 pipeline expansion is a multi-year answer to that glut, not a quick fix. Management is funding it off a steady balance sheet (net debt to EBITDA at 3.9 times) rather than stretching for it, and the dividend held.

👉 Read the full story

PHX Energy Services $PHX.TSX ( ▼ 0.08% ) (TSX: PHX) posted record Q3 2026 revenue of $204.2 million, up 24% from a year ago, the highest quarterly revenue in company history. Rotary steerable system (RSS) work, PHX's premium drilling technology, now makes up 20% of all operating days companywide, up from 13% a year ago, and management says demand for RSS now exceeds its own fleet capacity. Adjusted EBITDA rose 21% to $33.7 million, and the company raised its 2026 capital budget to $88 million while pencilling in a preliminary $75 million budget for 2027, most of it aimed at growing the RSS, Velocity, and Atlas motor fleets.

So what. This is the good kind of problem: a drilling-tech company selling out of its premium product faster than it can build more of it. The catch is that revenue is outrunning margin for now (inflation and slower price-increase acceptance from clients are eating into the beat), so 2027's capital spend needs to convert into EBITDA growth, not just a bigger fleet, before this turns into a re-rate.

👉 Read the full story

CanAsia Energy (TSXV: CEC), a Calgary junior with no current producing properties, closed the sale of its Andora Energy subsidiary, holder of the Sawn Lake heavy-oil project in Alberta, to Logan Oil Corp, a new subsidiary of Logan Energy. CanAsia collects C$29.39 million in cash at closing, a possible C$10 million more once first oil flows at Sawn Lake, and up to C$15 million on top of that scaled to the monthly average WCS price (nothing below $78, rising in tiers to 3% of proceeds above $105), for a maximum payout of C$55 million. The company plans to return roughly C$17 million to shareholders before year-end and redirect the rest toward its newly announced Thailand exploration block.

So what. CanAsia just handed itself a real-world WCS lottery ticket: the wider that discount gets (and today's dashboard shows it widening), the longer its payout stays stuck in the lowest tier. A neat, if accidental, tie-in to the same glut Gibson Energy is spending billions to fix.

👉 See the update

Nearly six ounces of gold in a single tonne of rock. That's what Collective Mining's bonanza interval at Apollo actually works out to: 184.25 g/t gold-equivalent divides out to about 5.9 ounces per tonne. The average open-pit gold mine today runs closer to 1 gram per tonne, meaning this interval ran roughly 180 times richer than a typical mine's ore.

Keep your grades high, your dilution low, and your oil P&L hedged either way the election shakes out. See you tomorrow. ⛏️