Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has appointed Billy Choi as its new chief financial officer, with Choi expected to assume full CFO responsibilities in October 2026 following a transition period. The announcement signals a significant strengthening of the company's financial management team as it moves forward with permitting for the Santa Fe Mine and targets a restart of production in 2027. This leadership change comes at a critical juncture for Lahontan, as the company seeks to transition from exploration and development to active mining, a phase that demands rigorous financial oversight and strategic capital management.
Choi brings relevant experience to the role, having most recently served as vice president of finance at Lithium Royalty Corp. During his tenure there, he was involved in the company's initial public offering, public-company reporting, financial controls and its subsequent acquisition by Altius Minerals. That background in both public markets and M&A activity could prove valuable as Lahontan navigates the complexities of financing a mine restart and maintaining compliance with regulatory requirements. The appointment underscores Lahontan's commitment to building a robust financial foundation ahead of its planned production restart.
The Santa Fe Mine project, located in the Walker Lane of mining-friendly Nevada, is Lahontan's flagship property. The 26.4 km2 site had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. According to the company, the Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. These resources provide a solid basis for the planned restart, and the company intends to continue advancing the project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
The timing of Choi's appointment is strategic. With permitting underway and a production target of 2027, Lahontan is entering a phase that will require significant capital investment and careful financial planning. A CFO with IPO and acquisition experience can help the company access public markets, manage investor relations, and ensure strong internal controls. For investors, this news may signal that Lahontan is serious about moving the Santa Fe Mine toward production and is putting the necessary leadership in place to execute on that goal. The full press release is available at https://nnw.fm/BUdJ8.
As Lahontan Gold continues to develop its Nevada properties, the addition of a seasoned financial executive like Choi could be a key differentiator in successfully transitioning from a development-stage company to a producing miner. The market will be watching to see how his expertise translates into tangible progress on the Santa Fe Mine and the company's broader strategic objectives.
