LaFleur raises $6.89 million for Quebec gold strategy
LaFleur Minerals Inc. [LFLR-CSE, LFLRF-OTCQB] has raised $6.89 million to fund its gold production plan in Quebec.
The amount raised includes an upsized amount of $4.69 million from a previously announced non brokered private placement of units priced at 50 cents per unit under the Listed Issuer Financing Exemption (LIFE offering).
The company also said it has closed it has closed its previously announced flow-through offering of units priced at 60 cents per unit for an oversubscribed amount and gross proceeds of $2.2 million.
“With both these financings closed, upsized due to demand and oversubscribed, Lafleur is financed for the restart of its Beacon gold mill, intending to source mineralized material from its nearby Swanson gold project and starting with an estimated 10,000 to 20,000 metric tonnes of mineralized stockpiles remaining on the site of its wholly-owned Beacon gold mill [in Quebec],’’ the company said in a press release.
On Wednesday, the shares were unchanged at 48 cents and trade in a 52-week range of 79 cents and 11.5 cents.
LaFleur is on the cusp of becoming a gold producer in a buoyant bullion market after acquiring the Beacon Mill in Val-d’Or, Quebec via a receivership sale. The wholly-owned Beacon mill represents a rare and highly strategic asset within the Abitibi gold belt. The 750-tonne-per-day mill is fully constructed, in good condition, permitted, historically proved and ready for restart of operations.
The $1.1 million acquisition puts LaFleur in a position not only to process ore from its wholly owned nearby Swanson gold property, where the company is completing a Preliminary Economic Assessment (PEA) to evaluate the economics of an open pit mining scenario, but also to strike custom milling agreements with other companies holding gold deposits in the region. Results of the PEA are due to be announced in January 2026.
When LaFleur acquired ownership of the mill in November 2024, $20 million had already been spent on upgrades by the previous owner, Monarch Mining, making Beacon Mill an exceptional near-producing asset. In a press release on June 23, 2025, LaFleur said it has developed a comprehensive mill restart plan, which includes improvements of $3.8 million for mill equipment and maintenance, and tailings storage facility repairs of $1.8 million. The company said it anticipates achieving full production at Beacon by early 2026 once the restart tasks and ramp-up period are complete.
The Beacon Mill is capable of processing 750 tonnes per day and is located along existing rail and road infrastructure with direct access to the Swanson Project and other gold projects in the region at various stages of development.