Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) and may include paid advertising.
- LaFleur Minerals Inc., a Canadian near-term gold producer, just closed its upsized, fully subscribed LIFE offering and FT offering, raising gross proceeds of over $6.9 million, funding the restart of its key asset the Beacon Gold Mill.
- The company is moving quickly to capitalize on its unique processing opportunities offered by its Beacon Gold Mill, and the overall strength of the gold market.
- LaFleur now anticipates 2026 as an especially significant year, both for the company’s shareholders and for firmly establishing LaFleur’s position as the newest gold producer in Canada’s Abitibi belt.
LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0), a Canadian gold exploration and development company has reached a pivotal milestone after closing a significant financing intended to fund the restart of its gold mill. With these funds, LaFleur will further advance its district-scale Swanson Gold Project in Québec’s prolific Abitibi Gold Belt and progress towards the near-term restart of gold production at its wholly owned Beacon Gold Mill, remaining bullish about the gold market, and the company’s standing compared to its peers. Just last month, the company announced an upsizing of its investment opportunity due to high demand for the offering, allowing it to now fund restart activities to launch gold production at its Beacon Gold Mill, first aiming to process the 10,000-20,000 metric tons (“mt”) of mineralized stockpiles remaining on site.
Back in November, LaFleur also made significant progress on its district-scale Swanson Gold Project, having kicked off a confirmation drilling program. The move was intended to bring it closer to near-term gold production and provide it with substantial valuation upside. It also helped validate historical results on the property and improve resource confidence, supporting the geological model of the area, all for the purpose of delivering a technically robust Preliminary Economic Assessment (“PEA”), scheduled to finalize and release results sometime this month, led by recognized global mining, sustainability, and environmental consulting firm, ERM (https://ibn.fm/DVQLy). The PEA is conducted for the purpose of evaluating the restart of gold production at LaFleur’s wholly owned and recently refurbished Beacon Gold Mill (with over $20 million previously invested into equipment and infrastructure upgrades) using mineralized material from its nearby Swanson Gold Deposit, both located in the recognized mining camp of Val-d’Or, Québec.
While announcing these milestones, LaFleur’s management pointed out that the company is positioning itself to quickly take advantage of this gold value growth, with initiatives and investments that most of its peers are not adopting or pursuing given their lack of immediate access to infrastructure and long permitted timelines to reach the inflection point from explorer to producer.
“Advancing the Beacon Gold Mill to restart gold production with gold prices at record levels above $4,000 per ounce offers amazing economic potential,” noted Paul Teniere, LaFleur’s CEO. “We are well underway to completing a comprehensive PEA for the restart of the Beacon Gold Mill, and at the suggestion of ERM, we are nearing completion of twinning historical holes that form the basis of the mineral resource at our Swanson Gold Deposit, with the intention to supply mineralized material from Swanson to the Beacon Gold Mill,” he added (https://ibn.fm/JiH6a).
Back in 2022, the previous operator invested $20 million in upgrades at its Beacon Gold Mill, equipping it with crushing, grinding, flotation, leaching, and Merrill-Crowe circuits. These upgrades brought it closer to realizing its full potential of processing 750 tonnes per day, a production asset that also has the potential to expand in capacity down the line with additional investment. LaFleur closed its upsized, fully subscribed offerings, closing an upsized amount and gross proceeds of $4,695,000 under its LIFE Offering and an oversubscribed amount and gross proceeds of $2,205,421 under its Flow-Through Offering, the company is well on its way to restart production at its Beacon Gold Mill (https://ibn.fm/tImBL).
With the steps made thus far, LaFleur is one of the few junior gold companies in Canada that owns a fully permitted, existing gold mill, in a region of miners needing processing to take advantage of high gold prices. It also becomes one of the few companies with a clear pathway to cash flow without dilution, while avoiding the lengthy timelines and capital intensity typically associated with mill construction. The financings materially de-risk LaFleur’s business model, giving it a significant advantage over competitors and enabling it to advance directly into gold production while controlling its value chain.
For company information, visit the company’s website at www.LaFleurMinerals.com.
Qualified Person Statement:
All scientific and technical information contained in this article has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company, and considered a Qualified Person for the purposes of NI 43-101.
NOTE TO INVESTORS: The latest news and updates relating to LFLRF are available in the company’s newsroom at https://ibn.fm/LFLRF
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