LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) has raised combined gross proceeds of more than $7.8 million through a series of funding mechanisms, including a non-brokered hard-dollar private placement, a Listed Issuer Financing Exemption offering, and a tax flow-through eligible offering. The capital injection positions the company to restart gold production operations at its wholly owned Beacon Gold Mill and Mine, located in the renowned Abitibi Gold Belt in Val d'Or, Quebec.
The Beacon Gold Mill, capable of processing 750 metric tons of ore per day and fully permitted to process up to 1.8 million metric tons of tailings, is in a state of readiness pending the restart. LaFleur plans to use an existing stockpile of gold ore at the site for a trial processing run, paving the way for production. Additionally, the company can provide custom milling services to regional operators, creating a secondary revenue stream.
The funding details were announced as the company prepares to commission the mill, which is situated about 60 km south of LaFleur's Swanson Gold Project. The Abitibi Gold Belt is Canada's largest gold producing region, offering a Tier 1 jurisdiction for mining activities. LaFleur's strategy combines district-scale exploration with processing infrastructure, aiming to generate revenue from both its own gold project and custom milling orders.
For more information on the funding, visit this link. Details on the Beacon Gold Mill and the Abitibi Gold Belt can be found here.
The company's newsroom provides updates on LFLRF at https://ibn.fm/LFLRF. All scientific and technical information 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.
