Vior Inc. (TSXV: VIO, OTC: VIORF, FRA: VL51) is an exploration company focused on Quebec and Nevada. The company benefits from financial & technical support from well-known partners such as Osisko Mining, and the company puts a lot of work into its flagship Belleterre Gold project (which produced over 750k oz Au at 10.7g/t Au) and could see a significant upside on 8 other promising gold projects.

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Company Overview

Vior Inc. (TSXV: VIO, OTC: VIORF, FRA: VL51) is a junior mining exploration company benefiting from a long history of exploration success for more than 35 years. Vior provides value through the discoveries and the leverage of strategic partners. The company invests judiciously in its projects and look to option or joint venture, and the company doesn’t just stop there. Vior can also invest strategically in companies that combine great projects and proven management. Another exciting piece of information is that the company manages to finance its projects thanks to the management’s ability to succeed. Bottom line, the management board seeks to create value for its shareholders. Regarding the board, Mark Fedosiewich leads the company as president, CEO, and director. Mr. Fedosiewich has been involved in the industry for over 30 years and has an extensive network across North America of mining executives, experienced high-net-worth junior resource investors, and prominent junior resource portfolio managers.

Vior’s team is particularly meticulous when choosing a project to focus on. The potential project must be in safe and friendly mining jurisdictions, close to an existing mine, or an advanced project. The project has to have a good infrastructure nearby, and easy accessibility, and the project potential has to be able to start from an early to a more advanced exploration stage.

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On December 21, the company announced it put its eyes on the Skyfall Nickel project through a Letter Of Intent with Soquem to advance the district-scale area. Located in Quebec, the project consists of 925 claims covering an area of 515 Km2 consolidated by Vior over the last two years. The project has a strong potential for nickel deposits, and the Vior technical team identified a robust geophysical signature spanning 47 km, typical of known Archean Sulphide-Rich Komatiite-type deposits. The area is accessible by all-season logging roads and near hydroelectric lines.

“We are very excited to have a strong partner like SOQUEM to help support our efforts and to validate the potential at our Skyfall Nickel project. This Agreement is expected to provide VIOR shareholders with a strengthened financial position, allowing us to better focus and allocate capital in our overall exploration efforts, in particular at our flagship Belleterre gold project.

Mark Fedosiewich, President and CEO of VIOR

Belleterre Project Opportunity

The Belleterre project is the company’s flagship project. Wide from 300 Km2, the land package comprises 551 claims and covers the volcano-sedimentary belt over a strike length of 37 Km. The project has already been producing gold, as testified by the Beleterre Gold Mine, which returned 760k oz Au and 95k oz Ag between 1937 and 1959. After that, the mine was put to sleep until Vior decided to put work on it when the company undertook the “Belleterre Consolidation” in early 2021, following several milestones.

Vior identified in Q3 2021 over 11 areas with high-grade gold mineralization from 15 g/t Au to 274 g/t Au. In early 2022, the company achieved a 3,858m Phase 1 drilling phase in the Aubelle area where mineralization was intersected. Indeed it returned 55.2 g/t Au / 0.5 m 0.65 g/t Au / 18.5 m 1.58 g/t Au / 8 m. Then, the second drilling phase was finished in Q2 2022, totaling 4,197m of drilling, where the company highlighted 12.87 g/t Au and Visible Gold/1.35m.

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Share Structure/ Financing

The company has its latest financial for the period ending September 30. Vior announced it had $1.5M in cash and cash equivalents and $9.4M in total assets (up 4% compared to the previous quarter, and explained because of the $1.1M financing). In the meantime, Vior reduced its liabilities to 317k, decreasing by 62% compared to the previous quarter. A piece of positive information is the company has low expenses. They represented only 215k, representing 22% over the previous quarter (the company reduced its communication expenses and share-based compensation).

On November 14, Vior announced an update on property transactions with the Blondeau-Guillet and the Skyfall properties. Regarding the Blondeau-Guillet property, Vior issued 625k (max. issuance: 789.4k shares) shares payable per tranche of $75k over a period of three years for a total of $225k. About the Skyfall property, Vior issued 107k shares to Osisko.

For the share structure, 92.4M shares are issued and outstanding, 13M warrants (avg. price: $0.25), and 5.3M options are available. Osisko mining owns 7.8% (partially diluted: 11.26%), Quebec institutions hold 20%, and close strategic holders detain 25%. This leaves 15% for the management and 32.2% for the public float.

Vior’s stock price is worth $0.11 (January 5) and isn’t far from its 52-week low of $0.09. The 52-week high is at $0.22.

Bottom Line

Vior Inc. (TSXV: VIO, OTC: VIORF, FRA: VL51) is an exploration company focused on Quebec & Nevada, and its flagship project returned favorable high-grade gold mineralization from 15 g/t Au to 274 g/t Au over 11 areas. The company has low expenses combined with a robust balance sheet and a solid share structure & ownership.

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