Condor Resources

What Condor Resources does

Condor Resources Inc. is a publicly traded mineral exploration company (TSX Venture: CN) headquartered in Vancouver, Canada, and founded in 2006. The company operates a project-generator and royalty model focused on identifying, acquiring, and advancing early-stage precious and base metals exploration properties in South America, principally Peru and Chile. Rather than developing mines itself, Condor advances prospects through the drill stage and seeks to monetize them via joint ventures, option agreements, and royalty arrangements with larger mining companies.

The company's active portfolio centers on two Peru projects: Pucamayo East (where a drill program was funded by 2023 warrant exercise proceeds) and Cobreorco (Apurímac), where a 3,500-metre diamond drilling program commenced in 2026 under an option and joint venture agreement with Teck Resources. Exploration methodology relies on conventional diamond drilling and the integration of magnetic, gravity, and induced polarization geophysics to define skarn and porphyry copper-gold drill targets.

Condor generates essentially no operating revenue. Liquidity is sourced through small-cap equity instruments — warrant exercises, LIFE Offering private placements, and unit financings — collectively totaling roughly $3 million USD across 2023-2025. The customer base is institutional in nature: major mining partners (Teck Resources) and equity investors (including Crescat Capital in April 2025). Operations are run by a minimal team of 1-10 employees led by a CFO and a Vice President of Exploration, with no disclosed parent company or controlling entity.

Name

Condor Resources

Legal name

Condor Resources Inc.

Website

https://condorresources.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

Condor Resources is a Vancouver-based, publicly listed mineral exploration company that operates a project-generator and royalty model, acquiring and drilling early-stage gold and copper properties in Peru and Chile for subsequent joint venture with major miners.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (213)

SIC

Gold And Silver Ores (1040), Mineral Royalty Traders (6795)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration
• Project generation
• Gold exploration
• Copper exploration
• Mining services

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Project Generator and Royalty Model: Condor Resources operates a project generator model where it identifies, explores, and advances mineral exploration projects in Peru. The company seeks to monetize these projects through joint venture agreements, option agreements, or royalty arrangements with larger mining companies such as Teck Resources.

Go-to-market motion1 record

Marketing channels2 records

Core offering

Condor Resources Inc. is a mineral exploration project generator that acquires, advances, and options early-stage gold, silver, and copper exploration properties in South America, primarily in Peru and Chile. The company derives value by staking prospective ground, conducting early-stage exploration, and then partnering with or optioning projects to larger mining companies under staged agreements that transfer exploration and development risk.

Product overview

Condor Resources is a mining exploration company operating in Peru with a project generator and royalty model approach. The company is focused on exploring for precious and base metals, with two active projects: Pucamayo East Project and Cobreorco Project. The company funds exploration through private placements and warrant exercises.

Differentiator

Problem solved

Functional benefit

Products and services

• Pucamayo East Project
• Cobreorco Project

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Teck ResourcescoreStrategic or Co-development Partner · 29 May 2026Teck Resources entered into an option and joint venture agreement with Condor Resources for the Cobreorco copper-gold project in Apurímac, Peru. This partnership represents the first drill program under the agreement, with Condor Resources conducting a 3,500-metre diamond drilling program comprising six priority holes to test copper-gold skarn and porphyry targets.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Vizsla Silver: A junior silver-gold explorer active in Mexico. Comparable in business model (junior explorer advancing a flagship asset toward discovery/development), though geographically distinct from Condor's Peru focus.

Broad incumbents

• Pan American Silver: A major silver and gold producer with significant Peruvian assets (including the La Arena and Shahuindo mines). Comparable as a Peruvian precious metals incumbent and potential acquirer of advanced-stage exploration projects generated by juniors.
• Teck Resources: A major diversified miner and Condor's JV partner at Cobreorco. Relevant as both the counterparty driving near-term program funding and as a representative of the type of large strategic partner that validates and advances junior exploration assets.
• Fortuna Silver Mines: A producing silver-gold miner with operations in Peru, Mexico, and West Africa. Comparable as a Peru-active precious metals operator and potential acquirer/partner for advanced exploration assets of the type Condor is generating.
• Hudbay Minerals: An established mid-tier copper and gold producer with operating mines in Peru and the Americas. Comparable as a major mining company operating in Peru that could be a counterparty/peer to juniors like Condor, and as a benchmark for what a successful Peruvian Cu-Au operator looks like.

Direct peers

• Regulus Resources: A junior explorer advancing copper-gold porphyry and skarn projects in Peru and Argentina. Highly comparable in geography (Peru focus), commodity mix (Cu-Au), and project generator approach.
• New Pacific Metals: A Canadian junior explorer with the Silver Sand silver project in Bolivia. Comparable as a project-generator-style junior with South American precious/base metals exposure.
• Bear Creek Mining: A Peru-focused precious metals explorer/developer with projects in the country. Operates in the same jurisdiction and commodity space as Condor and provides a more advanced-stage Peruvian peer.
• Solaris Resources: A junior exploration company focused on copper and gold in South America (notably the Warintza project in Ecuador). Like Condor, it is publicly listed, project-generator oriented, and pursues JV/option structures with major miners to advance assets.
• Chakana Copper: A junior copper-gold-silver explorer with the Soledad project in Peru. Similar size, similar Peruvian exposure, and similar pursuit of partner-funded drilling to advance exploration assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/CondorResources
• LinkedInlinkedin.com/company/4242673

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Condor Resources