Condor has a lot of cash. They have warrants that are being exercised that could add $1M in cash. But the main source of funding for their projects is JV (Joint Ventures) whereby Condor sells an interest in the property in return for the JV partner to fund the development expenses. Condor owns 49% of Condor de Oro based on this from their website:
The Agreement gives Mariana the option to earn a 51% interest in Area 1 upon total payments of US$2.5 million and exploration expenditures totaling US$12.5 million over a four year period.
Condor has 9 projects in Peru and 4 in Chili. So there are lots of possibilities for discoveries. One project they have not JV'd is Pucamayo in Peru which is expected to have a lot of potential for gold.
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