Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) and may include paid advertising.
- Near-term gold producer LaFleur Minerals recently announced the successful close of public and private offerings to help restart gold production at its Beacon Gold Mill, sourcing mineralized material from the company’s Swanson Gold Deposit in Quebec’s Abitibi Gold Belt, Canada’s largest gold-producing region
- LaFleur gained aggregate gross proceeds of more than C$11 million through the public and private offerings, to be used for restarting gold production at Beacon and continuing its aggressive drilling programs on the Swanson Gold Project and newly acquired McKenzie East Gold Project
- The meteoric rise in gold’s market value during the past year and a half, as well as LaFleur’s strategically low base case planning, underscore the company’s expectations that it will be firmly profitable once production resumes
Near-term gold producer LaFleur Minerals Inc.’s (CSE: LFLR) (OTCQB: LFLRF) $11 million boost will help awaken gold production operations through key milestones and increase resources at its Swanson Gold Project through additional drilling programs.
LaFleur announced the results of its recent financing offerings — aggregate gross proceeds of C$11,015,760 — on June 9, along with details about the service commission tied to the offerings and the qualifying exploration expenses that will be tied to its charitable flow-through tax vehicle (https://ibn.fm/37vev).
The company has been busily recommissioning its Beacon Gold Mill, strategically acquired at fire sale pricing not long after production halted for the previous owner. LaFleur plans to begin mineralized material from its nearby Swanson Gold Deposit to Beacon for processing at 750 metric tons per day (“TPD”), incrementally increasing output to 1,250 TPD as mining operations increase (https://ibn.fm/3fK9W).
The Swanson Gold Deposit constitutes the most actively developing part of LaFleur’s larger Swanson Gold Project, which pairs with the company’s recently acquired McKenzie East Gold Project to form approximately 23,000 hectares of potential development within the prolific Abitibi Greenstone Belt — Canada’s largest gold-producing region. That includes more than 700 hectares in the Val-d’Or mining district acquired this month (https://ibn.fm/gPFdL).
The offerings sold more than 10.5 million units of the company and nearly 8.9 million flow-through units that will provide investors with the tax-deductible benefits of LaFleur’s qualifying exploration and development expenses.
The Val-d’Or mining camp is a critical locus of activity for the Abitibi Gold Belt, providing labor and supply resources for the region. LaFleur’s location within that district provides it valuable access to those resources. LaFleur also benefits strategically from a rail line that crosses both its Swanson and Beacon properties, which could be used for vital materials transport at cost savings and reduced community impact when compared to existing truck transport options.
The gold market has enjoyed a meteoric rise in value since January 2025 and, while this year’s instability in international relations has led to fluctuating prices, the precious metal has largely held the gains achieved during the past year and a half. LaFleur’s all-in sustaining costs and base case programming are more reflective of where prices were before they began their march upward, leaving the company in a position where it expects to be easily profitable as it begins production.
For more information, visit the company’s website at LaFleurMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to LFLRF are available in the company’s newsroom at https://ibn.fm/LFLRF
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.
