LaFleur Minerals Acquires Beacon Gold Mill, Positioning for Growth in Quebec's Abitibi Gold Belt
TL;DR
LaFleur Minerals gains a strategic edge by acquiring the Beacon Gold Mill at a significant discount, positioning itself as a key player in Quebec's high-demand Abitibi Gold Belt.
LaFleur Minerals acquired the Beacon Gold Mill for C$1 million, a facility previously upgraded with over C$20 million, offering immediate milling services in a prime gold mining district.
LaFleur Minerals' acquisition and development plans contribute to local economies and the global gold supply, supporting industries and investments in sustainable mining practices.
Discover how LaFleur Minerals turned a bankruptcy sale into a golden opportunity, acquiring a ready-to-go mill in one of the world's richest gold belts.
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LaFleur Minerals Inc. has established itself as a strategic player in Quebec's Abitibi Gold Belt through its acquisition of the Beacon Gold Mill. The company purchased the mill for C$1 million from Monarch Mining following its bankruptcy, representing a substantial discount compared to the over C$20 million previously invested in facility upgrades. This acquisition comes at a time when gold prices remain elevated, creating increased demand for milling services throughout the region.
The Beacon Mill, located in Val-d'Or, Quebec, provides LaFleur with a fully permitted and refurbished processing facility that offers immediate operational capabilities. This eliminates the typical 3-5 year permitting timeline and US$80-100 million investment normally required to construct new milling infrastructure. The strategic importance of this acquisition is amplified by the mill's location within the Abitibi Gold Belt, a region renowned for its rich gold deposits and currently experiencing heightened mining activity due to favorable market conditions.
Complementing the mill acquisition, LaFleur owns the Swanson Gold Project situated just 50 kilometers from the Beacon facility. The company plans to develop this project for its own mining operations while simultaneously offering custom milling services to other mining companies in the region. This dual approach aims to generate near-term revenue through both service contracts and eventual gold production from its owned project. The company has already attracted interest from potential funders for both its milling operations and gold development plans.
This strategic positioning allows LaFleur to address the growing need for processing capacity in one of Canada's most productive gold regions. By controlling a key piece of infrastructure acquired at a fraction of its replacement cost, the company gains significant competitive advantages in both timing and capital efficiency. The acquisition not only enhances LaFleur's standing within the gold mining sector but also supports broader economic activity throughout the Abitibi Gold Belt by providing essential milling services to other mining operations in the region.
Curated from InvestorBrandNetwork (IBN)
