- Strategic investor Crescat Capital commits $500,000 to Condor Resources' private placement.
- Funds will aid exploration of promising gold and silver projects in Peru.
- Substantial insider involvement shows confidence in Condor's potential.
Condor Resources Inc. (TSXV:CN) has secured a strategic investment from Crescat Capital, with the latter committing $500,000 to the company's LIFE Offering Private Placement, which aims to raise up to $1.5 million.
The net proceeds will be allocated towards exploration activities at the Huinac Punta and Pucamayo projects in Peru, as well as for general corporate purposes. Condor insiders are also subscribing to a significant portion of the placement, indicating strong management confidence in the company's future prospects.
Kevin Smith, Founder and CEO of Crescat Capital, highlighted the potential for high-grade epithermal gold systems in Peru, a region known for significant operations like the Yanacocha and Pierina mines. "Peru's proven district offers a real opportunity for Condor to unearth a major gold discovery," Smith added, emphasizing Crescat's confidence in Condor's technical expertise.
Condor Resources, focusing on precious and base metals exploration in Peru, is advancing its flagship Pucamayo project, which spans 85 km2 with significant mineralization. The Huinac Punta project, covering 7,200 hectares, is being explored for its potential silver-dominant polymetallic mineralized body.
