Condor Resources (CN) AI Stock Analysis

• Market Cap: C$22.55M
• Dividend Yield: N/A
• Average Volume (3M): 38.61K
• Price to Earnings (P/E): ―
• Beta (1Y): >-0.01
• Revenue Growth: N/A
• EPS Growth: -581.25%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 150,338,130
• 10 Day Avg. Volume: 25,737
• 30 Day Avg. Volume: 38,613
• PEG Ratio: 0.01
• Price to Book (P/B): 4.21
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -31.38
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: C$0.15 ▼(-14.44% Downside)

The score is held down primarily by weak financial performance (pre-revenue operations, widening losses, and ongoing cash burn) and bearish technical momentum (below key moving averages with negative MACD). Valuation provides limited offset because the company is loss-making and has no stated dividend yield, despite the low-debt balance sheet being a modest positive.

Positive Factors

Low leverage / clean balance sheet

Zero reported debt provides durable solvency protection for an early-stage explorer, lowering bankruptcy risk and preserving optionality to raise project finance on favorable terms. A debt-free base supports long-term project funding flexibility amid cyclical metals markets.

Focused exploration business model

A clear, asset-driven exploration strategy creates long-duration optionality: successful drilling and resource definition can transform project economics. Persistently advancing geology, sampling and drilling enhances the chance of defining value-accretive resources over the coming months to years.

Modest improvement in cash burn trend

A measurable reduction in operating cash outflow suggests incremental efficiency or lower near-term spend, which, if sustained, extends runway and reduces urgent financing needs. Durable improvement would increase ability to fund exploration between raises.

Negative Factors

Pre-revenue operations

No revenue means the company cannot self-fund exploration; long-term value depends entirely on successful resource discovery or asset sales. This structural dependence on external capital elevates dilution risk and execution pressure over multi-quarter horizons.

Persistent operating losses and cash burn

Consistent negative operating cash flow and widening net losses erode financial resilience and require repeated financing. Over 2–6 months this weak cash generation materially increases dilution risk and constrains the company’s ability to scale exploration without new capital.

Contracting equity base / dilution risk

A halving of equity in recent reporting indicates material losses and/or financing-related changes, reducing the balance-sheet buffer. This structural deterioration raises the probability of further issuances or asset sales to fund operations, diluting existing holders and limiting leverage.

Condor Resources Business Overview & Revenue Model

Company Description

Condor Resources Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Peru. The company explores for gold, silver, copper, lead, and zinc deposits, as well as other precious and base metals. Its portfolio includes various projects, such as the Pucamayo, Chavin, Quriurqu, San Martin, Humaya, Huinac Punta, Andrea, Quilisane, Cobreorco, and Cantagallo. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Condor Resources makes money by exploring and developing mineral properties with the potential to contain commercially viable quantities of precious and base metals. The company generates revenue through the sale of mineral rights or joint venture agreements with larger mining companies that have the capacity to fund the development of a mine. Revenue streams may also include the sale of extracted minerals, royalties from partnerships, and potentially, equity investments from strategic partners. Condor Resources' earnings are significantly influenced by the success of its exploration activities, commodity prices, and the terms of its partnerships.

Condor Resources Financial Statement Overview

Summary

Income statement and cash flow are very weak (pre-revenue, persistent operating losses, and negative operating/free cash flow). The balance sheet is a relative strength due to minimal debt, but equity has contracted materially, increasing dilution/financing risk.

Income Statement

The business is effectively pre-revenue across all periods (revenue is 0), so operating losses dominate the profile. Profitability has deteriorated sharply in the most recent periods, with Net Income moving from profits in FY2021–FY2024 to a large loss in FY2025 and a deeper loss in TTM (Trailing-Twelve-Months) (Net Income: -4.74M FY2025; -5.24M TTM). EBIT/EBITDA are consistently negative, indicating ongoing operating burn and limited visibility on self-funded operations until revenues materialize.

Balance Sheet

Leverage is very low (Total Debt is 0 in FY2024–TTM and minimal previously), which meaningfully reduces solvency risk for an early-stage company. However, the equity base has contracted materially from FY2024 to FY2025/TTM (Stockholders’ Equity: ~10.37M FY2024 vs. ~5.70M FY2025 and ~5.86M TTM), consistent with heavy losses and potential dilution/asset changes. Returns on equity also flipped from positive in FY2022–FY2024 to sharply negative in FY2025 and TTM, highlighting weakening underlying economics despite the clean debt profile.

Cash Flow

Cash generation is weak, with operating cash flow negative every year shown and still negative in TTM (Trailing-Twelve-Months) (Operating Cash Flow: -0.76M FY2025; -0.64M TTM). Free cash flow is also persistently negative, reflecting ongoing funding needs (Free Cash Flow: -0.76M FY2025; -0.64M TTM). While the cash burn improved modestly from FY2025 to TTM, the company remains reliant on external financing until operations stabilize or revenue begins to scale.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-111.09K	-39.90K	―	―	―
EBITDA	-848.80K	-113.82K	-228.00K	-215.35K	-3.59M
Net Income	-4.74M	1.22M	439.40K	119.53K	2.33M
Balance Sheet
Total Assets	5.92M	10.50M	7.19M	6.33M	6.02M
Cash, Cash Equivalents and Short-Term Investments	268.81K	2.28M	671.04K	359.81K	783.34K
Total Debt	0.00	0.00	40.00K	40.00K	40.00K
Total Liabilities	219.02K	131.48K	141.75K	141.87K	147.72K
Stockholders Equity	5.70M	10.37M	7.05M	6.19M	5.88M
Cash Flow
Free Cash Flow	-764.58K	-417.25K	-1.30M	-1.08M	-416.98K
Operating Cash Flow	-764.58K	-413.84K	-399.85K	-341.42K	-377.68K
Investing Cash Flow	-692.76K	-492.70K	668.02K	-115.11K	-292.32K
Financing Cash Flow	0.00	2.06M	0.00	171.00K	1.16M

Condor Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CN, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.19, and above the 200-day MA of 0.14, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 29.31 is Positive, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CN.

Condor Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CAM	53 Neutral	C$44.76M	-5.99	-160.92%	―	―	―
TSLV	52 Neutral	C$34.41M	-9.40	-71.82%	―	―	44.12%
SBMI	52 Neutral	C$33.63M	-3.71	-9498.89%	―	―	-69.10%
MRZ	48 Neutral	C$54.90M	-4.84	-1572.16%	―	―	1.38%
ARU	46 Neutral	C$23.81M	-1.20	―	―	―	-6.12%
CN	42 Neutral	C$22.55M	-3.80	-57.87%	―	―	-581.25%

Condor Resources Corporate Events

Condor Resources Completes Sale of Soledad Project to Lincuna

Condor Resources Inc. has finalized the sale of its Soledad project in Ancash, Peru, to Compañía Minera Lincuna S.A. for a total consideration of $3 million, with payments structured over three years. This transaction strengthens Condor’s balance sheet and allows the company to focus on other high-potential exploration opportunities in Peru, such as the Huiñac Punta project, which is seen as a promising silver-rich carbonate replacement system.