LaFleur Minerals Inc. has taken a significant step towards restarting its Beacon Gold Mill in Val-d'Or, Québec, by engaging Bumigeme Inc. to conduct an independent valuation report. This report will evaluate the replacement value and restart costs for the mill and its tailings facility, which benefited from over $20 million in upgrades in 2022. The valuation represents a critical component of LaFleur Minerals' strategy to secure financing and underscore the mill's potential to contribute to gold production, particularly in connection with the Swanson Gold Project.
The company is positioning itself to capitalize on favorable gold market conditions, with J.P. Morgan forecasting gold prices could reach $4,100 by 2026. The Beacon Gold Mill, capable of processing over 750 tonnes per day, is not only pivotal for the Swanson Gold Project but also for potential custom milling operations for nearby gold projects. This strategic move reflects LaFleur Minerals' commitment to advancing its district-scale gold projects in the Abitibi Gold Belt, leveraging its consolidated land package and infrastructure to deliver long-term value to stakeholders.
The engagement of Bumigeme Inc., an established engineering firm with expertise in mineral processing facilities, provides independent validation of the mill's current value and restart requirements. This objective assessment will be crucial for potential financiers and partners evaluating the economic viability of reactivating the facility. The mill's recent $20 million upgrade program significantly enhances its operational capabilities and modernizes key processing components, making it well-positioned to serve both company-owned projects and third-party mining operations in the region.
The timing of this valuation initiative aligns with optimistic gold price projections from major financial institutions, creating favorable conditions for gold mining and processing operations. The Beacon Gold Mill's strategic location in the prolific Abitibi Gold Belt, combined with its substantial processing capacity, positions LaFleur Minerals to potentially capture value from both internal production and external milling opportunities. This comprehensive approach to asset utilization demonstrates the company's focus on maximizing returns from its infrastructure investments while contributing to regional gold production capabilities.
