# Condor Resources Terminates Option Agreement on Soledad Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd Original source: https://money.tmx.com/en/quote/CN/news/5254461917750485/condor-resources-terminates-option-agreement-on-soledad-project Publisher: tmx Original announcement: 2024-10-07T21:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Condor Resources Inc. - Ticker: CN - Exchange: TSX - Region: Peru - Primary commodity: Gold - Secondary commodities: Silver, Copper - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-19 16:02:25 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Condor Resources has terminated its option agreement with Chakana Copper Corp for the Soledad project in Peru due to Chakana's failure to make a required US$1,000,000 payment. As part of the termination, Condor will resume full ownership of the concessions, receive a 1% NSR royalty for Chakana, and gain access to all project data and permits. Reasoning: The termination of the option agreement is a significant corporate event that returns control of a key asset to the issuer, though it stems from a partner's failure to meet financial obligations. - Positive factor: Termination of option agreement allows Condor to resume 100% ownership of Soledad concessions - Positive factor: Project contains high-grade tourmaline breccia targets and porphyry system with discovery upside - Positive factor: Chakana to provide 1% NSR royalty and transfer all data/permits/samples to Condor - Negative factor: Termination due to non-performance \(unpaid US$1,000,000 cash payment\) Facts used in scoring: 6 ## Classification and evidence **agreement\_transaction** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document announces the termination of an option agreement with Chakana Copper Corp. Evidence · text > Condor Resources Terminates Option Agreement on Soledad Project **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The document references a maiden inferred resource estimate released by Chakana in 2022. Evidence · text > Chakana released their maiden inferred resource estimate for the Soledad project. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The document explicitly mentions a maiden inferred resource estimate. Evidence · text > Chakana released their maiden inferred resource estimate for the Soledad project. ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-0) Soledad · gold Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: gold - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:7b494692cfd527750759 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 0.72 - Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > the Inferred Mineral Resource contains "4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper amenable to extraction by underground mining methods #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-1) Soledad · silver Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:7b494692cfd527750759 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 61 - Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-2) Soledad · copper Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:7b494692cfd527750759 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 0.97 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver and 0.97% copper #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-3) Soledad · gold Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: gold - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:51c235be1ddc7d608854 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 1.29 - Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > an additional 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper amenable to extraction by open pit mining methods #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-4) Soledad · silver Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:51c235be1ddc7d608854 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 37.1 - Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/condor-resources-terminates-option-agreement-on-soledad-project--d71708a7-9e20-43f7-9ae7-d5e74b8ec5fd#fact-resource-facts-5) Soledad · copper Historical result Needs review: historical\_restatement #### Identity - Project: Soledad - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: CN #### Resource scope - Estimate type: resource - Resource group id: resource:51c235be1ddc7d608854 - Deposit or zone: Breccias \#1, \#5, \#6, and \#7, Huancarama East, Paloma East, and Paloma West - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 0.65 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-11T00:00:00.000Z #### Dates - Event date: 2024-10-07T00:00:00.000Z Reasoning: Historical inferred resource data cited from a 2022 Chakana report. Evidence · text > 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver and 0.65% copper #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.