Condor Res Stock Price, News & Analysis

Condor Resources (CNRIF) has announced two key equity compensation grants. First, the company granted 2,000,000 performance share units (PSUs) to a holding company controlled by CEO Chris Buncic, which will vest through April 10, 2027, subject to performance criteria. Additionally, Condor granted stock options to various stakeholders: 2,500,000 shares at $0.20 and 500,000 shares at $0.12, both exercisable until June 17, 2030. These grants are subject to regulatory approval and vesting provisions under the company's Omnibus Equity Incentive Plan.

Condor Resources has received approval for the Declaración de Impacto Ambiental (DIA) from Peru's Ministry of Energy and Mines for its Cobreorco gold-copper project. The project is being advanced through permitting by Teck Resources Limited under an option and joint venture agreement signed in December 2023. Teck can earn a 55% interest by spending US$4 million in exploration and paying US$500,000 over three years. Teck has the option to increase its stake to 75% with an additional US$6 million in exploration spending and US$600,000 in cash payments. The Cobreorco project targets gold-copper skarn and porphyry-style mineralization.

Condor Resources (CNRIF) has completed a non-brokered private placement offering, raising C$1,051,000 through the issuance of 8,758,333 units at C$0.12 per unit. Each unit consists of one common share and one-half share purchase warrant. The warrants are exercisable for 36 months at C$0.15 per share for the first 24 months and C$0.20 thereafter. Crescat Portfolio Management and company directors participated, subscribing for 4,592,834 units (C$551,140). The proceeds will fund exploration at the Huinac Punta and Pucamayo Projects. The company paid C$16,496 in finder's fees and issued 137,466 finder's warrants. A Right of Participation Agreement was established with Crescat for future equity financings.

Condor Resources (TSXV:CN) has announced that strategic investor Crescat Capital will participate in the company's LIFE Offering Private Placement of up to $1.5 million. Crescat will subscribe for $500,000 through Crescat Portfolio Management on behalf of its Pooled Investment Funds.

The net proceeds will be used for exploration at the Huinac Punta Project, the Pucamayo Project, and general corporate purposes. Company insiders will also subscribe for a significant portion of the placement.

Kevin Smith, Crescat Capital's Founder and CEO, expressed confidence in Condor's technical expertise and highlighted Peru's potential for high-grade epithermal gold systems, citing examples like Yanacocha and Pierina mines.

Condor Resources (TSXV:CN) has announced a non-brokered private placement offering of up to 12.5 million units at $0.12 per unit, aiming to raise gross proceeds of up to $1.5 million. Each unit comprises one common share and one-half of a non-transferable warrant.

The warrants are exercisable for 36 months with a tiered structure: $0.15 per share if exercised within 24 months, increasing to $0.20 thereafter. The proceeds will fund exploration at the Huinac Punta Project, the Pucamayo Project, and general corporate purposes.

The offering, expected to close around April 30, 2025, will be available in all Canadian provinces except Quebec. Company insiders may participate, subject to a four-month hold period. Eligible finders may receive up to 8% cash fee and 8% Finder's Warrants.

Condor Resources (TSXV:CN) has announced updates to its exploration activities in Peru, with planned drilling programs at Huinac Punta (1,500m) and Pucamayo (2,000m) scheduled for Spring 2025. The company is shifting focus due to delays in the Pucamayo South East DIA application.

At Huinac Punta, the company expanded its property from 2,000 to 7,200 hectares, with high-grade silver sampling results showing values up to 4,115 g/t Ag. The Pucamayo East 2023 drill program confirmed hydromagmatic centers with encouraging Au-Ag values, including intersections of 72.5m grading 0.83 g/t AuEq.

The company also highlighted progress at Rio Bravo, where historical drilling revealed significant copper-molybdenum mineralization with intercepts including 220m grading 0.51% CuEq. At Cobreorco, a joint venture with Teck Resources offers potential for a porphyry/skarn system discovery, with Teck having the option to earn up to 75% interest through exploration expenditures and cash payments.

Condor Resources (TSXV:CN) has provided a corporate update for 2025, highlighting progress across its precious metals portfolio in Peru. The company is advancing two key projects: Pucamayo, an 8,500-hectare exploration project awaiting DIA approval for a planned 6,000-meter drilling program, and Huinac Punta, which recently received its Initiation of Activities permit and expanded by 5,200 hectares.

At Cobreorco, Teck Resources can earn up to 75% interest through exploration expenditures of US$10 million and cash payments of US$1.1 million. The company regained control of the Soledad project, which has an Inferred Resource of 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver, and 0.97% copper for underground mining, plus 1.9 million tonnes for open pit mining. The company also acquired historical data for its Rio Bravo project, showing significant porphyry copper and molybdenum mineralization.

Condor Resources has confirmed a significant copper-molybdenum porphyry discovery at its 100%-owned Rio Bravo project, located 112 km southeast of Lima, Peru. The confirmation comes from newly acquired historical data from a major mining company that previously owned the project.

The data includes results from 11 drill holes totaling 5,729m from 2012, showing significant mineralization intervals. Notable intersections include: 220m at 0.32% Cu and 275 ppm Mo, 324m at 0.32% Cu and 199 ppm Mo, and 312m at 0.29% Cu and 329 ppm Mo.

After reviewing the comprehensive data package, which includes soil geochemistry, ground geophysics, and detailed geological mapping, Condor interprets potential for a higher-grade core approximately 400m southeast and deeper from previous drilling locations. The mineralization system remains open in all directions, with the main core of the intrusive porphyry still untested.

Condor Resources (TSXV:CN) has restructured its payment agreement with Element79 Gold Corp. regarding the Lucero Project in Peru. The original US$1,000,000 payment due in December 2024 has been increased to US$1,100,000 and extended to June 30, 2025. As security, Element79 has pledged 1,750,000 shares of Sun Silver (ASX-listed, A$93M market cap), which are restricted from trading until May 6, 2025.

Additionally, Condor announced the cancellation of its previously announced non-brokered private placement, which aimed to raise up to $1,500,000 through the issuance of 10,000,000 units at $0.15 per unit. The company expects better financing opportunities in the new year, citing upcoming catalysts including the anticipated DIA receipt at Pucamayo South East.