RE:Recent Condor CEO phase 2 Sale Update and Jim MellonOne common reason you'll see more and more across the junior space is that the cost of capital has gone parabolic. They likely cannot even get the financing, much less financing at rates that justify the project economics and risks.
They used a 5% discount rate in their feasibility study when the actual cost of capital for junior like them is probably closer to 12-15% right now. I'd be surprised if they even had a positive NPV for their project at $1600 gold under current cost of capital rates, even assuming they can get someone to finance them at all. They need a cash rich buyer to make the project work. That buyer needs to believe that when the project is producing a couple years down the road gold will be well above $1600/oz for life of mine.