LaFleur raising $4.5 million for Quebec gold strategy
LaFleur Minerals Inc. [LFLR-CSE, LFLRF-OTCQB] is aiming to raise $3.0 million from a non-brokered private placement offering. The company said proceeds from the LIFE offering will be used for commissioning and restart of gold production operations at the company’s wholly-owned Beacon Gold Mine and Mill, as well as work at the company’s Swanson Gold Project in Quebec.
The company said the offering will consist of up to 6.0 million units priced at 50 cents per unit. Each unit will consist of one common share and one share purchase warrant enabling the holder the right to purchase one additional common share for 75 cents at any time on or before 24 months from the closing date. The warrants will be subject to an accelerated expiry in the event that the closing price of the common shares on the Canadian Securities Exchange is equal to or above 90 cents for 14 consecutive trading days any time after closing.
The company also intends to offer up to 2.5 million flow-through units priced at 60 cents per FT unit for gross proceeds of $1.5 million. Each FT unit will consist of one common share to be issued as a flow through share within the meaning of the Income Tax Act (Canada) and the Taxation Act (Quebec)and one warrant. Each will have the same terms as the warrants included in the units to be issued in the LIFE offering.
On Tuesday, the shares eased 8.47% or $0.05 to 54 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 $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.
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. Initial production could begin by the end of this year and will represent a major pivot from explorer to producer in a Tier 1 jurisdiction.
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.