Mix together dry yeast, lukewarm water, sugar and salt; leave to rest for 15 minutes. Sift flour into a large bowl. Make a well, pour in yeast mixture and knead, adding eggs, one at a time, and lard, a little at a time.
Leave dough to rest in bowl, away from drafts, until doubled in volume.
Delicately mix in coarse sugar.
Leave to rest for 10 minutes more. Meanwhile, heat a waffle iron. Lightly butter waffle iron [for the first waffle only]; pour in approximately 3 tablespoons [45 mL] dough at a time. Cook for 3 to 4 minutes, until waffles just start to brown on top.
Serve hot or cold.
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