Welcome to our dedicated page for CONDOR RES news (Ticker: CNRIF), a resource for investors and traders seeking the latest updates and insights on CONDOR RES stock.
Condor Resources Inc. reports developments for a precious and base metals exploration portfolio in Peru. News centers on Pucamayo, its high-sulfidation epithermal flagship project; Huiñac Punta, a carbonate-replacement silver and base-metals target; and Cobreorco, a copper-gold skarn and porphyry project advanced under an option and joint venture arrangement with Teck Perú.
Recurring updates include Peruvian exploration permits, geological and geophysical target definition, partner-funded project activity, portfolio transactions such as the completed sale of the Soledad project, and capital actions including private placements, unit and warrant terms, insider participation, and TSX Venture Exchange matters.
Condor Resources has secured US$800,000 in cash and 1,379,310 shares from Chakana Copper Corp. as part of an agreement for Chakana to acquire full ownership of the Soledad concessions. Chakana is required to make additional payments totaling US$3.425 million over three years, alongside Cdn$800,000 in shares. Furthermore, Condor received US$75,000 from Calipuy Resources, with another payment of US$300,000 expected in December 2022. These funds will aid Condor in advancing its projects in Peru.
Condor Resources Inc. has announced a binding agreement with Chakana Copper Corp. concerning the Soledad project in Peru. The agreement extends Chakana's option to acquire a 100% interest in the Soledad concessions to June 23, 2022. Chakana made an initial payment of US$200,000 and can complete the remaining balance of US$4.225 million through two options: a lump-sum payment of US$2.8 million plus shares or a staggered payment option over three years. Condor retains a 1% NSR on the concessions, allowing ongoing interest as a shareholder.