Condor Resources Inc V.CN

Alternate Symbol(s): CNRIF

Metals & Mining Industrial Metals & Minerals

Condor Resources Inc. is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company’s flagship Pucamayo project is located 185 km southeast of Lima and covers an area of approximately 85 square kilometers (km2). Its other project includes Chavin, Soledad, Quriurqu, Huinac Punta, Humaya, Andrea, San Martin, Quilisane, Rio Bravo and Cobreorco. The Chavin property covers an area of over 14 km2 within the central Andes mineral belt in northern Peru and is host to a polymetallic vein system. The Company’s Soledad property is located in the Cordillera Negra metallogenic province in the central Peruvian Andes. The Quriurqu property is located in the Department of Ancash, northern Peru approximately 10 km south of the Soledad project. The Huinac Punta is about 65 km south-east of the Antamina mine. The Andrea project is located in the south-central Andes, at elevations ranging from 4100 to 4600 m, approximately 480 km south-east of Lima.

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Condor Resources Inc

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Post by Crashcomingsoonon Sep 05, 2024 1:49pm

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Unrealized losses a staggering $517 billion

Unrealized Losses Skyrocket to $517 Billion, Raising Alarms as Risks Mount, FDIC Warns in Q1 2024 Report (msn.com)

Excerpts:
Unrealized losses on U.S. banking assets have soared to a staggering $517 billion, raising alarm bells for the financial sector. According to the FDIC’s Quarterly Banking Profile for the first quarter of 2024, this marks the ninth consecutive quarter of unusually high losses, fueled largely by rising interest rates and declining asset values. With the pressure mounting, the stability of the banking industry is being questioned as it grapples with increasing risks tied to inflation, credit quality, and deteriorating loan portfolios.

The rise was primarily driven by higher unrealized losses on residential mortgage-backed securities, spurred by an increase in mortgage rates during the quarter.

Noncurrent loan balances for non-owner occupied commercial real estate (CRE) loans continued to rise, largely driven by office loans at the largest banks, those holding assets over $250 billion. Banks in the next tier, with assets between $10 billion and $250 billion, are also experiencing stress in non-owner occupied CRE loans. Weak office space demand is lowering property values, while rising interest rates are impacting the credit quality and refinancing prospects of office and other CRE loans. Consequently, the noncurrent rate for these loans has reached its highest level since Q4 2013.

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Critical materials crisis: Diversifying away from China’s monopoly