Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced the appointment of Billy Choi as its new chief financial officer, with Choi expected to assume full CFO responsibilities in October 2026 following a transition period. The move comes as the company advances permitting for its flagship Santa Fe Mine and aims to restart production in 2027, underscoring the importance of experienced financial leadership in executing its development strategy.
Choi most recently served as vice president of finance at Lithium Royalty Corp., where he played a key role in its initial public offering, public-company reporting, financial controls, and its subsequent acquisition by Altius Minerals. His background in both public markets and corporate finance is expected to be instrumental as Lahontan Gold transitions from exploration and development to production. The appointment signals the company's commitment to building a robust financial foundation ahead of a major operational milestone.
The Santa Fe Mine project, located in the Walker Lane of mining-friendly Nevada, is a past-producing asset with significant historical output. Between 1988 and 1995, the mine produced 359,202 ounces of gold and 702,067 ounces of silver from open pit mines utilizing heap-leach processing. According to a Canadian National Instrument 43-101 compliant technical report, the project hosts an Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. These resources highlight the project's potential to become a substantial gold and silver producer once again.
Lahontan Gold plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The appointment of Choi is a critical step in ensuring the company has the financial expertise to manage the capital-intensive process of permitting, construction, and eventual restart. Investors will likely view this as a positive signal of the company's readiness to move forward.
For more information, the full press release is available at https://nnw.fm/BUdJ8. Additionally, the company's website, www.lahontangoldcorp.com, provides further details on its projects and technical reports. The latest news and updates relating to LGCXF can be found in the company’s newsroom at http://nnw.fm/LGCXF.
The strategic hire of a CFO with IPO and acquisition experience could also position Lahontan Gold for future corporate actions, such as additional financings or strategic partnerships, as it seeks to unlock the value of its Nevada assets. With a clear timeline for production and a strengthened management team, Lahontan Gold is taking concrete steps to transition from a development-stage company to a producer, a move that could significantly enhance shareholder value if executed successfully.
