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4 stories mentioning LFLR.CNUpdated 13d ago

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Mining & Metals

LaFleur Minerals Buys Additional Mineral Claims for C$35,000 to Expand Its McKenzie East Gold Project

LaFleur Minerals (LFLR.CN) acquired a 100% right, title and interest in a package of 27 mineral claims totalling about 701.7 hectares in the Val-d'Or mining district within Quebec's Abitibi Gold Belt adjacent to its McKenzie East project for C$35,000, it said on Wednesday.The company is also preparing to resume diamond drilling at the Swanson Gold Deposit to test the down-plunge and depth extensions of the mineralized system. The upcoming drill program will target priority zones below the current resource model where recent drilling has highlighted the potential for higher-grade shoots and continued resource growth, supporting its objective of expanding the mineral resource and advancing the Swanson Gold Deposit as a long-term source of mill feed for the fully permitted Beacon Gold Mill, it said."Consolidating prospective, historically explored ground in the heart of the Abitibi Gold Belt in the same belt as our Swanson Gold Project and Beacon Gold Mill is central to our district-scale strategy," said LaFleur Minerals Vice President of Exploration Marc Ducharme. "The Property covers ground that hosts the historical Maruska gold showing within the Pascalis-Tiblemont batholith, and we look forward to compiling the available historical data and conducting aggressive exploration strategies and drilling potential historical targets as we continue to build long-term value for our shareholders."Shares of the company were last seen down 3.8% at $0.32 on the Canadian Securities Exchange.Price: $0.33, Change: $-0.01, Percent Change: -2.26%

$LFLR.CN
Mining & Metals

LaFleur Minerals Down 9.4% After Raising $11 Million Via Bought Deal Equity Offerings

LaFleur Minerals (LFLR.CN) shares fell 9.4% on Tuesday after it closed its "bought deal" public offering and private placement for $11 million, which includes the partial exercise of the over-allotment option.Pursuant to the public offering, the company sold 10.5-million units at $0.50 apiece and 6.2-million flow-through units to charitable purchasers (charity FT units) at $0.68 per charity FT unit for $9.5 million from the sale of public offering securities. Each unit and each charity FT unit consists of one common share and one common share purchase warrant.Each charity FT share and each charity FT warrant comprising a charity FT unit qualifies as a "flow-through share". Each unit warrant and charity FT warrant entitles the holder to buy a share on a non-flow-through basis for $0.75 at any time on or before June 9, 2029.Pursuant to the private placement, the company sold 2.7-million flow-through units (FT unit) at $0.57 per FT unit for $1.5 million from the sale of FT units. Each FT unit consists of one common share and one common share purchase warrant, and each FT share and each FT warrant comprising a FT unit qualifies as a "flow-through share".Each FT warrant entitles the holder to buy a warrant share at $0.75 at any time on or before June 9, 2029. Proceeds from the offerings will be used for the commissioning and restart of gold production operations at its wholly-owned Beacon Gold Mine, exploration programs on its Swanson Gold project in Quebec, as well as for working capital and general corporate needs.Proceeds from the sale of charity FT units and FT units will be used by to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" related to its Swanson Gold project on or before Dec. 31, 2027.Shares of the company were last seen down $0.035 at $0.335 on the Canadian Securities Exchange.Price: $0.34, Change: $-0.04, Percent Change: -9.46%

$LFLR.CN
Mining & Metals

LaFleur Minerals Raising C$8 Million In a Bought-Deal Offering of Share Units

LaFleur Minerals (LFLR.CN) said Tuesday it is raising C$8 million in a bought-deal offering of share units.The company is selling an underwriter a minimum of 10-million units at C$0.50 per unit for minimum gross proceeds of C$5 million under a public offering.A concurrent bought-deal private placement will sell an undisclosed number of charity flow-through units priced at $0.57. Each unit includes a three-year warrant to buy a share for $0.75.The company said total gross proceeds could rise to C$9.2 million if over-allotment options are fully exercised.Proceeds will be used to support the restart of gold production operations at its Beacon Gold Mine and exploration activities at its Swanson Gold Project in Quebec.Shares of the company closed down C$0.02 to C$0.55 on the Canadian Securities Exchange.

$LFLR.CN
Mining & Metals

First Atlas Resources Sells MacKenzie East Claims in Quebec to LaFleur Minerals

First Atlas Resources (HHE.CN) on Tuesday said it agreed to sell a 100% interest in its MacKenzie East Claims located in the Val-d'Or gold camp, Quebec, to LaFleur Minerals (LFLR.CN) in a cash and stock deal.LaFleur will buy the property in exchange for $30,000 in cash, and 175,000 shares of LaFleur Minerals. The cash portion is payable within 48 hours of execution of the agreement, the company said.The share consideration will be issued upon receipt of exchange acceptance or, if not required, within five business days following closing of the deal. The property consists of 46 mineral claims covering about 1,781 hectares.The deal allows First Atlas to monetize a non-core asset while retaining exposure to the upside of the Val-d'Or region through its equity interest in LaFleur, it added.Shares of First Atlas were last seen down $0.005 to $0.10 on the Canadian Securities Exchange.

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