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FAQ: LaFleur Minerals' Capital Infusion and Gold Production Restart
TL;DR
LaFleur Minerals secured $7.8 million to restart gold production, offering investors early access to revenue from processing existing ore stockpiles at its Beacon Gold Mill.
LaFleur Minerals will use $7.8 million in funding to restart its Beacon Gold Mill, processing 750 metric tons daily and 1.8 million metric tons of tailings under existing permits.
LaFleur Minerals' restart creates jobs in Quebec's Abitibi region while responsibly utilizing existing infrastructure to minimize environmental impact through efficient gold production.
LaFleur Minerals operates in Canada's largest gold-producing region, with a mill capable of processing ore from its own mines and providing custom milling for other operators.
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LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF) is a Canadian near-term gold producer focused on restarting operations at its Beacon Gold Mill and Mine and its nearby Swanson Gold Project, located at the eastern edge of the Abitibi gold belt in Val d'Or, Quebec.
LaFleur Minerals has raised combined gross proceeds of more than $7.8 million through three funding mechanisms: a non-brokered hard-dollar private placement, a Listed Issuer Financing Exemption (LIFE) offering, and a tax flow-through eligible offering.
The capital will be used to restart gold production operations at the Beacon Gold Mine and Mill, including commissioning the mill and conducting a trial processing run using an existing stockpile of gold ore at the site.
The Beacon Gold Mill is located on Route 117 in Val d'Or, Quebec, about 60 km south of LaFleur's Swanson Gold Project, in Canada's largest gold producing region, the Abitibi Gold Belt.
The Beacon Gold Mill is capable of processing 750 metric tons per day of ore and is fully permitted to process up to 1.8 million metric tons of tailings.
LaFleur Minerals can provide custom milling as a secondary revenue stream, handling processing orders from regional operators in addition to its own gold exploration project and source of mineralized material.
The Beacon Gold Mill is in a state of readiness pending the restart of operations, following the recent capital infusion.
All scientific and technical information has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company, who is considered a Qualified Person for the purposes of NI 43-101.
The latest news and updates relating to LFLRF are available in the company's newsroom at https://ibn.fm/LFLRF.
Curated from InvestorBrandNetwork (IBN)
