Kimberly Ann

Lahontan Gold: West Santa Fe M&A Plus Permitting Milestones Pave Path to 2027 Construction

• Top takeaway Her core message is that Lahontan will build Santa Fe: she argues the steady news flow and on-the-ground execution are proving it, with a first gold pour targeted in 2027 and a valuation she sees growing as milestones land.
• Calls the West Santa Fe acquisition effectively free at about $1.8 million once the $1.73 million debt elimination is counted, and says she pulled the trigger early because newly found mineralization near the Calvada York pits would have forced pit laybacks later.
• Prefers a straight financing of roughly 80% debt with minimal equity, arguing that a payback under a year and a half and costs under $1,500 per ounce make debt the clean structure, and says her background working at a debt fund informs that choice.
• Deliberately waited for critical mass before taking on senior salaries, and is now hiring production-focused leadership (a full-time CFO, VP of Exploration, mine engineer and IR lead) ahead of construction rather than during production.
• Promises full transparency with shareholders, saying she will proactively report if timelines slip rather than let investors sit through months of silence.

Lahontan moved to 100% ownership of West Santa Fe for about 4% dilution, erasing $1.73 million of debt and a royalty on the York claims. An updated resource estimate rose 22% to 2.4 million ounces at a 0.78 g/t grade after management lowered the cutoff grade. The final permit application document is due within weeks, keeping the mine permit on track for Q2 2027 and a first gold pour in 2027. Drilling at all-oxide West Santa Fe targets a maiden resource by June; ore could feed the Santa Fe plant at near-zero extra capex. The roughly $135 million build is planned as 80% debt and 20% equity, targeting AISC (all-in sustaining cost — what it really costs to produce an ounce) under $1,500.

Inside Lahontan Gold’s Fully Funded Push to a September PEA

• Top takeaway She frames the strategy as build rather than sell, saying she expects Lahontan to be on the New York Stock Exchange next year, to reach a multi-billion dollar market capitalization, and to grow into a consolidator rather than be sold once the permit lands.
• She argues the share price is not simply tracking the gold market, saying the chart rises, pulls back a little and rises again, which she calls a healthy, scalable pattern.
• She says she posts updates almost daily on LinkedIn and other sites rather than waiting for monthly press releases, and that she tells the public when her own expectations are missed.
• She reports heavy retail attention, saying about 6 million shares traded on the TSX the day before the interview plus another million in the US.
• She says she was not previously interested in silver but now is, after the silver results coming out of West Santa Fe.

Lahontan's market cap has roughly doubled to $170 million in six months, with heavy trading liquidity on both the TSX and OTC. A mineral resource estimate arrives in weeks and sets up a September preliminary economic assessment (PEA), the economic study that locks in mine design. Sonic rig drilling on four old heap-leach pads targets about 200,000 remaining ounces at a grade Ann says ranks fourth in Nevada. West Santa Fe sits 13 kilometers from existing plant, so those ounces need no new capital spending; check holes found 3 to 6 grams. Permit by Q1 next year, a 4 to 6 month build-out, then first gold by Q4 — Ann plans an NYSE listing, not a sale.

This Nevada Gold Mine Could Be Back in Production Next Year | Kimberly Ann - Lahontan Gold

Lahontan Gold is advancing its Santa Fe mine in Nevada toward a potential production restart, targeting a permit next year and gold pour by late 2025. The company holds a 2 million ounce gold-silver resource base and is planning an upcoming resource update and PEA to enhance project economics. CEO Kimberly Ann highlights a renewed investor interest in junior gold miners, suggesting the sector is in the early stages of a major upward cycle.

Lahontan Gold's ($LG | $LGCXF) Path to Production | Don Durrett and John Feneck Interview

• Top takeaway Lays out the execution path: MRE out in June 2026 (delayed from April, with numbers she calls strong), PEA in early September 2026 as the final document for the mine permit application, permit expected Q1 2027, and gold pouring in 2027 after a 4-6 month contract-mining build.
• Argues the PEA is deliberately engineered for the shortest payback — roughly 9-14 months at $4,000 gold on the prior model — to secure the cheapest debt from a fund she expects to lend $80-100M, with no PFS or bankable study and no royalties or streams.
• Says the company is fully funded until construction — 10 million warrants called in, no new raise needed until the mine build — and puts current AISC at $1,000-1,100 with a goal of staying under $1,200.
• Dismisses the war-driven pullback as "a distraction" that changes nothing for the end game, and sets personal goals of a multi-billion-dollar market cap next year, an NYSE uplisting, and becoming a Nevada consolidator.
• Acknowledges any takeover offer must go to shareholders, but says deliberately chosen European strategic backers let her block a fair amount of unwanted bids while she keeps making progress on the assets.

Lahontan Gold's mineral resource estimate (MRE — the updated in-ground ounce tally) slipped from April to next month; a PEA (preliminary economic assessment) follows in September. CEO Kimberly Ann targets pouring gold next year: permit in Q1, a four-to-six-month contract build, and a plant sized for a 100,000-ounce-per-year operation. Legacy heap-leach pads still hold about 200,000 ounces of already-crushed gold; roughly 110 sonic holes aim to move those ounces into the mine plan. AISC (All-In Sustaining Cost — what it really costs to produce an ounce) guidance of $1,000-$1,100 supports 9-14 month payback timelines in current models. The named risk is takeover: a major could pay roughly $600 million, about $300 per in-ground ounce, and still buy accretively.

Kimberly Ann of Lahontan Gold Corp. presents at Metals Investor Forum in Toronto | February 2026

Kimberly Ann, CEO of Lahontan Gold Corp., presents company updates at the Metals Investor Forum in Toronto for retail and institutional investors. Lahontan Gold trades on TSXV under LG ticker, offering exposure to gold exploration with vetted management and promising mineral properties. Metals Investor Forum provides direct access to junior mining management teams, allowing investors to assess leadership quality firsthand.