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VIOR INC. (VIO.V)

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Company description

Vior (TSXV:VIO)(FRA:VL51) currently has an attractive Quebec-centric project portfolio, a highly prospective flagship gold project, a strong capital structure and a high-quality core investor base for its current market capitalization. The stock suffered from negative market sentiment during the summer, like the entire mining sector, caused by various reasons like recession fear, extreme inflation and conflicts around the world. Based on its current market capitalization, Vior seems to be one of the better risk/reward exploration plays in the sector.

Cash and investments are standing at approximately C$3.0M, after raising C$1.1M in July 2022 . Its outstanding portfolio of projects  includes the district-scale 291km2 flagship Belleterre project, and incorporates the historic Belleterre gold Mine (produced 750koz Au @10.7g/t and 95koz Ag between 1936 and 1959), with recent and excellent surface sampling results (up to 274.9g/t Au), and is located in one of the best mining jurisdictions (Quebec). A strong management team and cornerstone investor base including Osisko Mining, SIDEX, and SQM are further arguments to support the investment thesis.

Vior managed to consolidate the Belleterre project at attractive terms by signing an option agreement with Osisko Mining for their strategic property situated near the past producing Belleterre gold Mine. Vior can acquire a 51% interest in the property for C$225k in shares, and spending C$1.25M over 3 years. A further 24% interest can be acquired by incurring an additional C$1.75M in exploration expenditures over another 3 year period.

At Belleterre, the company has just completed two drill programs, one targeting the 12W vein structure (former Belleterre Mine area) and one focusing on targets further away from this mine. Besides one economic result, other results were short, low grade intercepts, but deemed valuable and promising by management, as they are useful by vectoring in on potential anticipated high grade mineralization. Additional exploration is planned this summer, and a Phase III drill program will follow soon.

It is anticipated that strong drill results, positive gold price movements, positive developments for their 3.64M shareholding in Ridgeline Minerals Corp, and potential asset sales/JVs for some of their projects are potential catalysts, which could drive the share price higher throughout the balance of 2022.

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