The focus is on proving its La India acreage in Nicaragua is part of a sizeable mining district.
Chief executive and chairman Mark Child said: "Condor aims to continue its twin strategy in 2017 of obtaining the environmental permit for a base case 2,800tpd processing plant fed from a single open pit at La India, with the capacity to produce approximately 100,000oz gold per annum and proving a major Gold District via exploration."
Since the year end, the firm has raised £5.42mln in a placing and announced a 10,000m drilling programme. Three scout drilling targets have been completed drilling has commenced on Mestiza, at the high grade Espinito-Mendoza concession.
A soil survey completed was completed at the end of April on the entire 313 sq km of the La India project and secondary trading on the US's OTCQX Best Market started the same month.
In keeping with a firm at this stage, the loss for the year to end December was around £7.6mln against a loss of around £3mln for 2015.