SCHEDULE 13G

CUSIP No.

19425C100

Names of Reporting Persons

AGNICO EAGLE MINES LIMITED

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 12,718,219.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,718,219.00
8	Shared Dispositive Power 0.00

Aggregate Amount Beneficially Owned by Each Reporting Person

12,718,219.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

14.99 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person: Includes common shares issuable upon the exercise of warrants to purchase 2,250,000 common shares that are held by the Reporting Person. See Item 4(a) below. (2) See Item 4(b) below.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Collective Mining Ltd.

(b)

Address of issuer's principal executive offices:

82 Richmond Street East, 4th Floor Toronto, A6, M5C 1P1

Item 2.

(a)

Name of person filing:

Agnico Eagle Mines Limited

(b)

Address or principal business office or, if none, residence:

145 King Street East, Suite 400, Toronto, Ontario, Canada, M5C 2Y7

(c)

Citizenship:

Canada

(d)

Title of class of securities:

Common Shares without par value

(e)

CUSIP No.:

19425C100

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

12,718,219 as of March 14, 2025. On March 14, 2025, Agnico Eagle Mines Limited (the "Reporting Person") and Collective Mining Ltd. (the "Issuer") entered into a subscription agreement (the "Subscription Agreement"), pursuant to which the Reporting Person agreed to subscribe for 4,741,984 common shares of the Issuer. Immediately prior to entering into the Subscription Agreement, the Reporting Person beneficially owned 7,976,23, common shares of the Issuer, including 2,250,000 common shares issuable upon the exercise of common share purchase warrants that are held by the Reporting Person. The Reporting Person intends to exercise such warrants concurrently with the closing of the subscription on March 20, 2025. As a result of entering into of the Subscription Agreement, the Reporting Person beneficially owns an aggregate of 12,718,219 common shares of the Issuer.

(b)

Percent of class:

14.99% as of March 14, 2025. The percentage of class of common shares is calculated based on 84,844,692 common shares deemed issued and outstanding as of March 14, 2025, being the sum of (i) 77,852,708 common shares issued and outstanding as of March 14, 2025, based on information published by TMX Group Limited on March 14, 2025 available at www.money.tmx.com/en/quote/CNL, (ii) 4,741,984 common shares of the Issuer to be issued to the Reporting Person pursuant to the Subscription Agreement (referred to in Item 4(a) above), and (iii) 2,250,000 common shares issuable upon the exercise of the warrants that are held by the Reporting Person (referred to in Item 4(a) above).

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

12,718,219

(ii) Shared power to vote or to direct the vote:

(iii) Sole power to dispose or to direct the disposition of:

12,718,219

(iv) Shared power to dispose or to direct the disposition of:

Item 5.

Ownership of 5 Percent or Less of a Class.

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AGNICO EAGLE MINES LIMITED

Signature:	/s/ Chris Vollmershausen
Name/Title:	Chris Vollmershausen/Executive Vice-President, Legal, General Counsel & Corporate Secretary
Date:	03/20/2025