By restarting the Beacon Mill at low estimated cost ($3–5M), processing its own mineralized material and offering custom milling to nearby deposit owners, creating two revenue streams.

The company is advancing a ~100,000-tonne bulk sample from Swanson for processing at Beacon as an initial step.

An illustrative 6-month start-up scenario shows ~80 kt processed yielding ~4,107 oz at ~98.2% recovery, evidence of how initial throughput could translate into early ounces while the mill ramps and custom contracts are layered in. There are also ~7,000 tonnes already on site from the Beaufor Mine for testing, supporting a faster ramp and third-party relationships.

Yes.

It’s fully refurbished/permitted, 750 tpd base capacity (capable >1,100 tpd), and underwent ~$20M of upgrades under the prior owner.

The site includes tailings and water infrastructure, with a Québec authorization to process 1.8M tonnes of tailings, about 7 years at full capacity, de-risking tailings handling.

Key plant assets (cyanidation mill, ponds, power, shaft) are in place.

Primary feed is planned from Lafleur’s Swanson Project, ~50 km from Beacon via road/rail, enabling efficient trucking to the mill.   Lafleur has begun permitting a ~100,000-tonne bulk sample from Swanson.

Beyond Swanson, Beacon is surrounded by 100+ historical/operating mines in the Abitibi, positioning it to win third-party/custom milling opportunities and smooth feed profiles.

Swanson’s 2024 NI 43-101 MRE: 123,400 oz Au Indicated (2.113 Mt @ 1.8 g/t) and 64,500 oz Au Inferred (0.872 Mt @ 2.3 g/t), with mineralization open in all directions.

The majority of Indicated sits within an optimized pit shell, designed for open-pit extraction.

The company plans ~5,000 m of drilling (Q3-2025) to extend strike/width and support larger bulk sampling to feed Beacon; management frames potential to build toward >1 Moz over time.

Estimated $3–5M for full operational restart, significantly lower than industry average for new builds.

As of June 24, 2025 the company shows ~63.5M basic shares (~82.6M FD) and a market cap of ~$27M (at $0.45/share).

Lafleur raised >$4M in late-2024 (hard + flow-through) to advance drilling, PEA prep, and the Beacon restart, a base to fund near-term milestones, with a tightly held structure noted.

Beacon targets 750 tpd (expandable beyond 1,100–1,800 tpd with upgrades), with a pathway to as much as ~30,000 oz Au per year at steady-state.

The plan is to complete maintenance/repairs and custom-milling prep in mid-to-late 2025, with production commencing late-2025 into 2026, contingent on inspections and approvals.

Typical mining risks apply, including permitting and regulatory timelines, financing the restart, operational execution at the mill, and gold price volatility.

Mitigants include a refurbished, fully permitted Beacon Mill with existing tailings capacity and power/water infrastructure, a short haul from Swanson to secure initial feed, and the option to backfill throughput with third-party/custom milling from a dense regional deposit base. Québec’s strong jurisdictional profile and access to flow-through financing support approvals and capital access, while ongoing drilling aims to expand resources and de-risk longer-term mill feed.