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18.09.2009
VIOR TO INITIATE PROCEDURES TO OBTAIN A PERMIT FOR BULK SAMPLING AND RETAINS SERVICES OF IBK CAPITAL
VIOR TO INITIATE PROCEDURES TO OBTAIN A PERMIT FOR BULK SAMPLING AND RETAINS SERVICES OF IBK CAPITAL
9/17/2009 8:30:47 AM - QUEBEC CITY, QUEBEC, Sep 17, 2009 - (TSX VENTURE: VIO)(FRANKFURT: VL5) - Societe d'exploration miniere Vior Inc. announces that it has initiated procedures with the Ministere des Ressources naturelles et de la Faune du Quebec (MRNF) and the Ministere du Developpement durable et de l'Environnement et des Parcs (MDDEP) to obtain the authorization to carry out a bulk sampling on its Douay Ouest property.
The Company recently completed an internal study revealing that bringing the two first levels of the Douay Ouest deposit into production could be done for less than CA$6 million. According to this internal study, combined with the current gold price, the operation would generate profits of over CA$25 million before tax, depreciation and reimbursement of invested capital for the four first years of production. It is to be noted that existing mining infrastructures, valued at about CA$8 million, reduce by the same amount the capital costs needed to start up the bulk sampling program. These infrastructures consist mainly of an all-season gravelled road, a power house and electrical line linked to Hydro-Quebec facilities, a head frame with a shaft sunk through overburden to the bedrock, and a main building that shelters offices, a dryer, a garage and a 1,100-metre capacity hoist, which is already installed.
Furthermore, IBK Capital in Toronto has been retained to assist Vior in finding the necessary financing to bring the Douay Ouest deposit into production. The financing will be done with the objective of minimizing the dilution of equity and does not preclude recourse to a gold loan or to a conventional loan.
Profile
Vior is a growing mining company focused on developing its properties. The company wholly owns the Douay Ouest gold project and other mineral properties.
Sedar: Societe d'exploration miniere Vior inc.
The TSX Venture Exchange (TSX Venture) does not accept responsibility for the adequacy or accuracy of this Press Release.
Contacts:
Vior Inc.
Claude St-Jacques
President
418-692-2678
cstjacques@vior.ca
www.vior.ca
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9/17/2009 8:30:47 AM - QUEBEC CITY, QUEBEC, Sep 17, 2009 - (TSX VENTURE: VIO)(FRANKFURT: VL5) - Societe d'exploration miniere Vior Inc. announces that it has initiated procedures with the Ministere des Ressources naturelles et de la Faune du Quebec (MRNF) and the Ministere du Developpement durable et de l'Environnement et des Parcs (MDDEP) to obtain the authorization to carry out a bulk sampling on its Douay Ouest property.
The Company recently completed an internal study revealing that bringing the two first levels of the Douay Ouest deposit into production could be done for less than CA$6 million. According to this internal study, combined with the current gold price, the operation would generate profits of over CA$25 million before tax, depreciation and reimbursement of invested capital for the four first years of production. It is to be noted that existing mining infrastructures, valued at about CA$8 million, reduce by the same amount the capital costs needed to start up the bulk sampling program. These infrastructures consist mainly of an all-season gravelled road, a power house and electrical line linked to Hydro-Quebec facilities, a head frame with a shaft sunk through overburden to the bedrock, and a main building that shelters offices, a dryer, a garage and a 1,100-metre capacity hoist, which is already installed.
Furthermore, IBK Capital in Toronto has been retained to assist Vior in finding the necessary financing to bring the Douay Ouest deposit into production. The financing will be done with the objective of minimizing the dilution of equity and does not preclude recourse to a gold loan or to a conventional loan.
Profile
Vior is a growing mining company focused on developing its properties. The company wholly owns the Douay Ouest gold project and other mineral properties.
Sedar: Societe d'exploration miniere Vior inc.
The TSX Venture Exchange (TSX Venture) does not accept responsibility for the adequacy or accuracy of this Press Release.
Contacts:
Vior Inc.
Claude St-Jacques
President
418-692-2678
cstjacques@vior.ca
www.vior.ca
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA83364M1077
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.