Lahontan Gold to buy Emergent Metals in all-stock deal
The acquisition consolidates ownership of the West Santa Fe project in Nevada and eliminates significant future royalty and payment obligations.
Lahontan Gold has signed an agreement to acquire all issued and outstanding shares of Emergent Metals, a move designed to consolidate its ownership of the West Santa Fe project in Nevada, US, and expand its land position in the region. Under the terms of the deal, Emergent shareholders will receive one Lahontan share for every 3.21 Emergent shares held, with an implied value of C$0.115, or US$0.082, per Emergent share.
Upon completion of the transaction, existing Lahontan shareholders are expected to control approximately 95.3% of the combined company, while Emergent shareholders will hold the remaining 4.7%. The deal will grant Lahontan Gold full ownership of the West Santa Fe project and immediately eliminate approximately C$2.39m in future payments that would otherwise have been required to acquire the remaining interest.
The acquisition also removes a 1% net smelter return royalty previously payable to Emergent on both the West Santa Fe project and the 27 York claims recently acquired at the Santa Fe Mine project. Additionally, two million Lahontan shares previously issued to Emergent for the York claims will be returned to Lahontan’s treasury. These shares are valued at roughly C$770,000 based on a 30-day volume-weighted average price of C$0.385 as of 15 September 2026.
Through the acquisition, Lahontan Gold will also obtain the New York Canyon project, located south of the Santa Fe Mine. The project includes blocks of unpatented mining claims and is reported to host precious and base metal mineralisation. The arrangement involves the assumption of a US$3.5m promissory note issued by Fairchild Gold to Emergent following the sale of the Golden Arrow property.
Lahontan will also acquire 12.5 million Fairchild shares and a 0.5% net smelter return royalty on Golden Arrow, as well as properties and royalties in Quebec and a package of leased claims in Nevada. Kimberly Ann, Lahontan Gold’s founder, executive chair, CEO and president, said the transaction consolidates ownership of West Santa Fe and eliminates royalties at both West Santa Fe and the York claims.
Completion of the deal remains subject to approval by Emergent shareholders, court orders, TSX Venture Exchange acceptance and regulatory consents. The agreement was originally reported by Mining Technology, a GlobalData owned brand.
