A few other points from the detail in the financials:1) Page...

A few other points from the detail in the financials:

1) Page 5
Company secretary Farlee Walker prob would've had responsibility on the financial statements. Farlee was appointed on 20th June and resigned on 12th September. What the report doesn't mention is that on 15th August Farlee took up the position of company secretary and Chief Financial Officer at Peak Resources (ASX:PEK) so looks like Condor were pretty much left without somebody in this role until Peter Dunoon was taken on in mid Sept.

http://www.proactiveinvestors.com.au/companies/news/32374/peak-resources-appoints-farlee-walker-as-cfo-32374.html

2) Page 15
Share of earnings from iron ore project will be up to $10m a year for 4-5 years to fund exploration - awesome.

3) Page 16 - sale of copper/gold assets
"Condor Mines is at the same time continuing discussions with parties about the sale of surplus copper-gold assets, including the known mineralisation at Cautiva-Victoria. This is taking place in the context of material corporate activity in Chile, where a number of international Chinese and Korean firms are competing with ASX and TSX listed miners to consolidate meaningful land positions. The long-term outlook for Copper and Gold has made Chile the hottest mining destination in the world, and Condor Mines is glad to have built such a sizeable position prior to the intense competition now seen."

Looks promising for some very short term cash injection from the divestment? Perhaps another reason why a large cap raise has not taken place as they could rely on this, then rely on cash from iron ore.

4) Page 23- remuneration report

For a managing director who has no other board roles, the cash salary of $95k that Glen took is pretty low. It's even a drop from the previous year, and no cash bonuses paid to any directors either.