The KE Report

This KE Report Weekend Show dives deep into the growing crosscurrents hitting the U.S. economy and commodity markets. In the first half, Marc Chandler (Bannockburn Global Forex) unpacks how weak job data and rising tariff risks are driving rate cut expectations and reshaping the dollar outlook. In the back half, Darrell Fletcher (Bannockburn Capital Markets) gives us a trader's eye view on the violent copper repricing, where energy markets may head next, and why metals like platinum and tin are gaining momentum. Segment 1 & 2 - Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market site, joins the KE Report to break down the shifting macro landscape as weaker U.S. jobs data and tariff volatility drive expectations for multiple Fed rate cuts this year. He discusses the dollar's cyclical downtrend, the inflationary impact of tariffs, confusion around gold and copper duties, and whether U.S. economic dominance may erode amid rising debt, diverging trade alliances, and a weakening labor market. Click here to visit Marc's site - Marc To Market.    Segment 3 & 4 - Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets, returns to share trader insights on copper's sharp price collapse following tariff exemptions, the persistent structural supply challenges in refining, and why copper remains in a long-term uptrend. He also discusses bearish trends in oil and natural gas, ongoing strength in precious metals led by investor demand and central bank buying, and how government support for refining capacity is reshaping the outlook for critical minerals. Click here to learn more about Bannockburn Capital Markets.    If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review! Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out.

Jason Kosec, the new Chairman of Minera Alamos (TSX.V:MAI) (OTCQX:MAIFF), joins me to unpack the key takeaways from news announced on July 7th about their acquisition of Calibre USA Holdings Ltd from Equinox Gold Corp. for total consideration of US$115 million, subject to adjustment.  Calibre USA holds a 100% economic interest in the producing Pan Gold Mine, development-stage Gold Rock Project, and exploration-stage Illipah Project in Nevada, USA.    We start off discussing how this is a truly transformational transaction for the Company, in that it brings in the producing Pan Gold Mine, doing about 35,000-40,000 ounces of gold production annually at the heap leach operations.  This mine is generating strong cash flows given the current record gold price environment, and Jason outlines how these revenues can be used to organically grow and develop the other pipeline of low-capital intensity, quick-build, high-return, gold development projects like the past-producing Copperstone Mine in Arizona,  the Cerro De Oro Project in Zacatecas, Mexico, the Gold Rock Project in Nevada, and the Fortuna Project in Mexico.   Jason also reiterates that this is not the company loosing interest or pivoting away from Mexico, but making an acquisition that brings in revenues and changes the valuation metrics while they await the permits in Mexico that the team still believes they will receive from the new administration.  This transaction immediately strengthens their production profile, beyond just the residual leaching at the Santa operations. More importantly, bringing in a larger production profile should improve their valuation multiple with a likely rerating over time that is more in alignment with junior producing peers. Operating a solid production asset in Nevada will also lower their future cost of capital for advancing their other development assets, without as much equity dilution moving forward. There is also the benefit of minimizing future risk by diversifying their assets into one of the strongest jurisdictions there is in Nevada. We also discuss how the recent financing has attracted a much stronger institutional investor base that wants to see the pathway to multiple mines in multiple jurisdictions.   We go on to discuss the exploration upside both around the Pan Mine and at the Gold Rock Project, not to mention across their whole portfolio of projects.  Now there will larger incoming revenues to truly intensify exploration efforts at multiple projects.   One can also see the pathway to future production growth and into a mid-tier producer with the Copperstone Mine slated to produce roughly 40,000 ounces of gold per year, and with both Cerro De Oro and Gold Rock each estimated to produce ~60,000 ounces of gold per year.  After those 3 mines have ramped up to commercial production, alongside of the Pan Mine, then there is also the development-stage Fortuna Mine in Mexico that will move into position as mine number 5.     If you have any follow-up questions for Jason regarding Minera Alamos, then please email them into me at  Shad@kereport.com.   In full disclosure, Shad is a shareholder of Minera Alamos at the time of this recording.   Click here to follow the latest news from Minera Alamos

Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network, returns to analyze the latest surge in market volatility and the increasing role politics is playing in market direction. We explore how former President Trump's offhand comments continue to spark major market swings - boosting or crushing stocks based on a single tweet. Joel discusses the impact of these politically charged moves on tech giants, small caps, healthcare, and even retail names like American Eagle Outfitters. Key topics include: Market manipulation via Trump tweets - from chip tariffs to pharma crackdowns Healthcare sector selloff despite earnings beats (Eli Lilly, UNH) IWM vs. QQQ divergence and what it says about small caps Earnings season reactions - why guidance still matters and who's crushing expectations (Palantir, Shopify, Celsius) Gold and silver's breakout - is it a new uptrend or topping pattern? We wrap with his outlook on where markets head into Friday.   Click here to visit Joel's PreMarket Prep website. https://www.premarketprep.com/ Click here to visit the Stock Trader Network. https://www.stocktradernetwork.com/

Graham Richardson, CFO of Faraday Copper (TSX:FDY – OTCQX:CPPKF), joins me to provide a comprehensive exploration update recapping the key milestones and discoveries from the 30,000 meter Phase 3 drill program, that is building into an updated Resource Estimate and more advanced update to the Preliminary Economic Assessment (PEA) due out in September.  Then we dive into the strategy and objectives for the upcoming 40,000 meter Phase 4 drill program, with a continued focus on defining, expanding, and testing new target all around the American Eagle Area at their 100% owned Copper Creek Project in Arizona.    The Copper Creek Project already has a 4.2 billion pound copper resource, and will be expanding as the drill results from the prior Phase 3 program are incorporated into the updated Resource Estimate, where it is anticipated to have a healthy portion in the indicated category.  With regard to the updated PEA, Graham highlights how much geotechnical and metallurgical work will be incorporated, making it a much more advanced PEA, and this is why the work programs after it is released will springboard over the PFS and go right into the Feasibility Study for 2026.   Graham and I discuss a number of the new discoveries made in Phase 3 at the new Banjo Breccia discovery, and recently discovered Winchester breccia, in addition to putting some holes into earlier-stage exploration targets at Old Reliable, the Sunrise Trend (which may indicate the presence of a new porphyry system),  and at Horsecamp. There were some holes in Phase 3 that targeted near-surface supergene copper mineralization with the goal of better understanding the distribution of oxide mineralization. Five holes were drilled near the Globe breccia and two near the Copper Giant breccia.  There will be more follow-up on this near-surface oxide mineralization as part of Phase 4.   In addition to expanding mineralization, testing new breccia targets, and infilling the American Eagle area in the upcoming Phase 4 drilling, there still will be some further definition holes drilled down into the deeper porphyry targets at the American Eagle and Keel deposits to better understand the geological controls and mineralization.   The company is well cashed up to complete all these work programs after announcing the closing of the CAD $49Million financing on July 29, 2025.  Graham also unpacks the strong roster of shareholders including the Lundin Family and Murray Edwards, as well as a number of institutional investment firms.  We wrap up discussing the infrastructure advantages and positives of operating in Arizona as a jurisdiction.     If you have any questions for Graham regarding Faraday Copper, then please email them to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Faraday Copper at the time of this recording, and may choose to buy or sell shares at any time.   Click here to view the latest news from Faraday Copper

Jordan Roy-Byrne, CMT, MFTA, Editor and Publisher of The Daily Gold, and author of the book “Gold & Silver – The Greatest Bull Market Has Begun – A Once In A Lifetime Investment Opportunity”, joins me for an in-depth technical and fundamental look at both the medium-term risks and long-term opportunities in the precious metals space, and why he favors being positioned in growth-oriented junior PM producers and quality developers over the senior producers as this precious metals bull market continues to evolve.     Key topics discussed:   The shorter-term to medium technical pattern in gold is a bit murky, on whether it has the energy to punch up through $3,500 and make a run towards $4,000 or if it needs to keep consolidating for another month or two. Longer-term, this gold bull market has much further to run.   Jordan is more animated by the technical outlook for silver, after the decisive move above $35 resistance, where it ran north of $39 and now has consolidated solidly in the $37's. He discusses a few potential paths for silver as it eventually approaches upcoming resistance at $41-$42 level.   We discuss the nature of silver stocks to front run higher prices in advance and discount those moves higher in the underlying metals price before they occur. We review if he feels silver stocks have already started discounting the moves past the $42 resistance or $50 silver, or if they are more fairly valued after their corrective move over the last few weeks.   With regards to the gold stocks, Jordan lays out the historic precedence for gold juniors to outperform gold seniors as bull markets evolve into the mid to later stages. Jordan also highlights the advantages that retail investors have to become experts in junior mining stocks and get an edge in investing due to lack of coverage and liquidity, compared to trying to compete with all the analysts covering the larger senior producers.   Jordan wraps up explaining why he prefers to be positioned in the growth-oriented gold and silver junior producers and quality developers that have the additional kicker of meaningful exploration programs, that are building value to existing known projects. Those types of companies are more like the “holy grail” of investing in more advanced juniors, versus the inherent risks of gambling on the make-it or break-it initial drill hole programs with earlier-stage exploration stocks.   Click here for exclusive stock picks and Jordan's deeper analysis at The Daily Gold.

Jeff Phillips, President of Global Market Development, and an activist investor in the junior resource space, joins me for a behind-the-scenes look at how he evaluates opportunities in mining stocks and the types of management teams and share structure that he likes to see to participate in their financings.   In this conversation we cover a lot of ground from gold, silver, and copper explorers and prospect generators, to reviewing past wins and current cycles with rare earths, lithium, and PGM companies. Jeff states that we have left the “lazy river” stages of the resource sector and have been entering into the more exciting ride of a larger commodities bull market.   Jeff has been involved in the natural resource space for the last three decades, and is a large strategic shareholder of over a dozen junior companies, and still a significant shareholder in a number of other mining stocks. Jeff also serves as a technical consultant and advisor to several companies in the junior resource space, working on improving their messaging to the marketplace, roster of investors, and liquidity. Even though he doesn't do many public-facing interviews or write in widely followed publications, Jeff is one of the most influential and well-respected people in the business. You'll often see him hard at work at mining conferences, doing his due diligence and connecting people to one another.   The companies we discuss in this interview are: Regulus Resources (TSX-V: REG) (OTCQX: RGLSF), Aldebaran Resources (TSX-V: ALDE) (OTCQX: ADBRF), Patriot Battery Metals (TSX: PMET) (OTCQX: PMETF), Bravo Mining (TSXV: BRVO) (OTCQX: BRVMF), GreenLight Metals (TSXV: GRL) (OTC: GRLMF), Kincora Copper (ASX: KCC) (TSXV: KCC), Almadex Minerals (TSX-V: DEX) (OTC: AAMMF), Headwater Gold (CSE: HWG) (OTCQB: HWAUF), and Kingsmen Resources (TSXV: KNG) (OTCQB: KNGRF).  

In this KE Report company update, we speak with Mike Burke, Director and VP of Corporate Development at Sitka Gold (TSX.V: SIG - OTCQB: SITKF - Frankfurt: 1RF), to recap the latest drill results from the Rhosgobel zone, part of the company's large-scale RC Gold Project in Yukon. Key Interview Highlights: Strong early results from Rhosgobel: Holes 3 and 5 returned up to 152m of 1.0 g/t Au (hole 3), including higher-grade intervals - all starting near surface. Expansion underway: 18 holes drilled at Rhosgobel to date; ~4,000m of 10,000m planned now completed. Strike length now extends 900m based on step-out drilling. Open at depth: Mineralization traced from surface to 200m depth, with visible gold in deeper intervals still awaiting assays. Interpreted as steeply dipping, east-west trending vein system. How it compares: Rhosgobel could rival the Blackjack and Eiger zones (2.8Moz combined) in tonnage, with comparable or better grades. What's next: Two rigs remain active at Rhosgobel; two more now drilling at the Pukelman-Contact zone. Potential to deliver an initial Rhosgobel resource by Q1 2026. Sitka is advancing four key zones across the RC Gold Project in 2025, targeting both resource growth and new discoveries.   If you have any follow up questions for Mike please email me at Fleck@kereport.com.  Click here visit the Sitka Gold website to learn more about the Company.

Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us to review the record Q2 2025 financials and operations results from the San Albino Mine in Nicaragua, along with some ongoing residual leaching during the period from the recently acquired Moss Mine in Arizona.  We also unpack the anticipated mining to begin this quarter at the Moss Mine, and what to anticipate for the several months of ramp up of increased production.  Additionally, we delve into the next key steps for permitting and development work at the Eagle Mountain Gold Project in Guyana; set to be in construction in 2026 and production by H2 of 2027.   This is a longer-format interview where we get into many nuances of operations in all 3 jurisdictions.   Q2 2025 San Albino Operational Highlights 54,354 tonnes mined, containing 10,911 ounces ("oz") of gold ("Au") at an average grade of 6.24 grams per tonne ("g/t") Au and 12,491 oz of silver ("Ag") at 7.15 g/t Ag 52,705 tonnes milled containing 11,153 oz Au and 12,847 oz Ag grading 6.58 g/t Au and 7.58 g/t Ag 41% and 59% from diluted vein and historical dump and other, respectively 595tonnes per day ("tpd") milled at 97% availability, with a mill recovery of 80.3% for gold   Q2 2025 Mako Financial Highlights   Mako total gold sales of 11,476 oz Au for total revenue of $38.1 million in Q2 2025 San Albino Mine sales of 10,104 oz Au at $3,323 per ounce Moss Mine sales of 1,372 oz Au from residual leaching activities at $3,321 per ounce Delivered final 13,500 oz silver payment to Sailfish Silver Loan for a total of $0.4 million in Q2 2025 $1.5 million release of collateral at Moss Mine from Trisura Guarantee Insurance Company Cash Balance of $28.6 million as of June 30th, 2025     There is also a substantial exploration program underway all around the San Albino Project in Nicaragua, around the San Albino Mine, as the Las Conchitas concessions, and of particular interest at the El Golfo concessions.     Akiba points out that the Moss mine has been producing gold the last few month through residual leaching at its beneficiation facilities, but their team is going to start mining again this quarter, and then it will take several months for new materials moved onto the leach pads to charge up increased production again. A technical report and Pre-Feasibility Study is slated to be put out later in the year around October, after a few months of ramping up mining and assessing the resources in place. When the Moss Mine has been debottlenecked over time from a mining and permitting perspective and is producing at the grade and rate they believe is possible,  it could almost double their current production profile with approximately another 40,000 ounces of gold production per year out of Arizona.   Mako is also currently derisking their Eagle Mountain project in Guyana, and working on the next key deliverable of an agreement between the government and local stakeholders, and doing all the background environmental and engineering work to being the process for their EIA permit.  Once it is received back and a construction decision is made, there will be roughly a 1 year build, and then production is slated for Q2 of 2027 at an estimated 60,000 -65,000 ounces per year.  When this added to the production out of Nicaragua and Arizona there is clear line of sight to growing into a mid-tier gold producer.     If you have any further questions for Akiba regarding Mako Mining, then please email them into us at either Fleck@kereport.com or  Shad@kereport.com.     In full disclosure, Shad is a shareholder of Mako Mining at the time of this recording and may choose to buy or sell more shares at any time.   Click here for a summary of the recent news out of Mako Mining.

In this KE Report company update, Scorpio Gold CEO Zayn Kalyan outlines the company's strategic transformation: divesting the Mineral Ridge Project for US$7.5 million and ramping up exploration at the Manhattan District in Nevada. Key Interview Highlights: Sale of Mineral Ridge Project: Total consideration of US$7.5M, paid in stages: $700K deposit (due immediately) $4.3M at closing (expected by August 25) $2.5M in deferred payments over 12 months Decision driven by high holding costs and limited near-term value without significant mill investment Drilling Focus at Manhattan: Phase 1: 6,300 meters nearly complete New goal: 15,000 meters by year-end Second rig arriving in September, potential for a third Focused on the “gap zone” between Goldwedge and West Pit Targeting 200,000–300,000 ounces from this core zone Catalysts on Deck: Initial NI 43-101 Resource Estimate coming soon Drill results imminent Targeting >2 million ounces within 12–18 months Resource will incorporate 140,000 meters of historic drilling across 1,800+ holes Team Strengthening: Leo Hathaway, of Lumina Group fame, joins as Director and on the technical team Helping guide technical strategy and long-term development Click here to visit the Scorpio Gold website to learn more about the Company.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for a longer-format more candid ‘fire-side chat' type of discussion, where we review the different trends in price performance, sentiment, and momentum across various stages of gold, silver, and copper stocks.   We start off contrasting the pricing reactions in the gold producers and higher quality developers to the moves higher in gold to record all-time highs.  Erik points out economic studies have had difficulty even keeping up with the rising metals prices over the last year, and how while of the quality gold stocks tracked the moves higher in gold, very few of the gold juniors had the type of outperformance and leverage that one would have anticipated in such a bullish backdrop in the underlying metals price environment.   Next we discussed how those same dynamics in compared to how the silver producers reacted to the rising silver price over the last year, and how the upside torque, and also the outsized moves down during silver corrections also filtered down more into the related silver junior stocks.  Erik points out that the narratives and trading psychology and sentiment around silver equities tends to be more extreme, but that the extremes in volatility is not really suited for most investors.   Then the discussion switched over the strange behavior so far this year in the copper equities -- where they seemed to be shrugging off both explosive moves up to new all-time highs as well as the extreme corrective moves with regards to the underlying copper pricing.    Over the last few years we have seen the copper producers get the bid first, and move more in synch with underlying metals pricing trends and sentiment. Erik outlines that copper juniors have acted more similar to gold juniors between 2020 and 2024 where gold kept making a run up towards $2,000 over and over and getting rejected back lower.  We've seen that play out the last few years with copper approaching and briefly eclipsing the $5 per lb level a few times, where the stocks quit believing that level would stick and build a higher pricing base. In a similar pattern the copper juniors have not participated as much until much higher copper prices finally got them moving.   Since we've seen the producers fair better overall thus far in the multi-year rallies in gold, silver, and copper sectors, compared to overall trends in wide swath of juniors, the question is posed to Erik regarding if people should even invest in junior resource stocks. Erik goes on to highlight some nuances around cheap and undervalued subsectors within resource juniors versus seniors, and why he remains constructive on how things will unfold moving forward in these evolving bull markets in the metals.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Craig Hemke, Founder and Editor of TF Metals Report, joins me for a wide-ranging discussion on the macroeconomic market movers over the last few weeks and looking ahead to a potential cattle call into gold, silver, and the precious metals equities.  We also dig into the whipsaw copper pricing as a result of the Trump tariff policies and where things may settle out.    Topics we discuss:   Craig walks us through the macroeconomics forces at work between US fiscal policy and Fed monetary policy, and how interest rates trends, and the potential for yield curve controls will likely push the US dollar lower, and the precious metals sector higher.   He points out the jobs report numbers, and downward revisions of the prior 2 months jobs metrics. Craig highlights the potential policy error that Jerome Powell and the Fed have made in delaying cutting the Fed funds rate by pointing to strong jobs figures the last few months as proof of a robust economy. Now it is clear they were not nearly as strong as reported.   Craig feels the pathway forward from the Trump administration is to either remove Powell early, or replace him as soon as possible next year with a dovish Fed chairman that will move to quickly cut interest rates and work in concert with the US Treasury Department.  The plan will be to lower rates to reduce down the burden of debt repayment, but then also to keep spending with fiscal policy to try and grow (and by default inflate) our way out of the current situation.   The US dollar's recent rally may ending up having been a head-fake, which caught some market participants off-sides, as the greenback has already started rolling over lower once again.   This dollar weakness and worse-than-anticipated jobs data has boosted the precious metals sector at the end of last week and we are seeing follow through strength in gold and silver to kick off this week.   We also discussed how copper pricing went on a wild ride building up to the proposed 50% copper tariffs, but then reversed down sharply when it turned out the tariffs were only on finished copper products, but not copper concentrates or refined copper itself.   Craig outlined how silver, platinum, and palladium got caught up in that move higher in copper, and did reverse down initially with copper's crash lower, but have since stabilized and started trekking back higher again with gold.   We wrap up discussing the moves we've seen lately in PM producers on the back of strong Q2 numbers, noting Agnico Eagle's recent barn-burner quarter, and that we are already one third of the way through Q3 with even higher average metals prices.  If people get a sense that these macro forces and higher underlying gold and silver prices are going to stay elevated, then there could be a cattle-call and stampede into the precious metals equities.   Click here to visit Craig's website – TF Metals Report

  As equity markets continue to grind higher amid political noise, and commodity prices react violently to shifting trade headlines, investors are searching for clarity. This weekend's KE Report dives deep into both - the big-picture market signals and the underlying resource stock trends - with technical analyst Dana Lyons and metals market veteran Brien Lundin.   Segments: Segment 1 & 2 - Dana Lyons, fund manager and editor of the Lyons Share Pro website, joined us to discuss the ongoing market melt-up, where his models remain bullish despite soft red flags in sentiment, seasonality, and market breadth. He also outlined tactical trades in copper and silver following tariff-driven volatility, sees gold's consolidation as constructive, and maintains high conviction in further upside for U.S. equities, led by large-cap growth and industrials. Click here to visit the Lyons Share Pro website and learn more about Dana's investment services.    Segment 3 & 4 - Brien Lundin, editor of The Gold Newsletter and host of the New Orleans Investment Conference, joined the show to share his outlook on gold, silver, and copper markets, as well as the junior mining sector. He discussed gold's summer bottoming process, silver's bullish breakout above $35, copper's pullback after tariff news, and why he sees current conditions as a strong buying opportunity across producers, developers, and juniors. Click here to learn more about the New Orleans Investment Conference on November 2-5.   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review!   Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out.   As equity markets continue to grind higher amid political noise, and commodity prices react violently to shifting trade headlines, investors are searching for clarity. This weekend's KE Report dives deep into both - the big-picture market signals and the underlying resource stock trends - with technical analyst Dana Lyons and metals market veteran Brien Lundin.   Segments: Segment 1 & 2 - Dana Lyons, fund manager and editor of the Lyons Share Pro website, joined us to discuss the ongoing market melt-up, where his models remain bullish despite soft red flags in sentiment, seasonality, and market breadth. He also outlined tactical trades in copper and silver following tariff-driven volatility, sees gold's consolidation as constructive, and maintains high conviction in further upside for U.S. equities, led by large-cap growth and industrials. Click here to visit the Lyons Share Pro website and learn more about Dana's investment services.    Segment 3 & 4 - Brien Lundin, editor of The Gold Newsletter and host of the New Orleans Investment Conference, joined the show to share his outlook on gold, silver, and copper markets, as well as the junior mining sector. He discussed gold's summer bottoming process, silver's bullish breakout above $35, copper's pullback after tariff news, and why he sees current conditions as a strong buying opportunity across producers, developers, and juniors. Click here to learn more about the New Orleans Investment Conference on November 2-5.   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review!   Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out.

In this KE Report Daily Editorial (August 1st), we're joined by Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network, to unpack a tough end to the week for markets.   Markets sold off sharply on Friday, driven by a combination of renewed tariff worries and weak jobs data. Joel breaks down the technical damage, discusses the break of key support levels, and explores whether this is simply a short-term pullback or something more significant.   Key Discussion Highlights: Tariff deadline and soft jobs data spark a sharp risk-off move across equities. Tech leadership falters, with names like Apple breaking down below multi-week ranges. Joel highlights a shift in sentiment from a “Goldilocks market” to growing caution. VIX, bonds, and gold rise, while small caps underperform - signs of broad defensiveness. Rotation into value and dividend-paying stocks like utilities and healthcare names. Technical signs of complacency peaking in July, with low realized volatility and narrow breadth. What could come next: tariff negotiations, inflation data, and potential August seasonality pressure. Joel also shares why investors should zoom out and maintain perspective after a strong run from April's lows, rather than focusing solely on the recent pullback from all-time highs.   Click here to visit Joel's PreMarket Prep website. Click here to visit the Stock Trader Network.  

Trey Wasser, CEO and Director of Dryden Gold Corp (TSX.V: DRY) (OTCQB: DRYGF) (FSE: X7W), joins me for an exploration update outlining some of the key takeaways and proper context from the recently released assay results from this year's exploration program at multiple Gold Rock Camp targets, within their Dryden Gold District in Northwestern Ontario.    On July 24, 2025 the Company reported multiple high-grade gold results and additional visible gold ("VG") intercepts from its ongoing drill program on the Elora Gold System at the Gold Rock Camp. These results are part of the Company's fully funded 15,000-meter drill campaign, which is focused on expanding the Elora Gold System along strike and at depth. The drill campaign to date has focused on the Gold Rock Target Area including the Jubilee Zone, Jubilee Hanging Wall, Pearl Zone and Laurentian Mine Area. The discovery of multiple stacked gold bearing structures now appear to run for a kilometer of strike from Jubilee to Laurentian. Drilling at the Elora gold System is also showing impressive widths of near surface lower grade mineralization.   Trey points out that much of the drilling is actually more constructive than the market realizes for building out continuity of near-surface mineralization that is above 1 g/t gold as a baseline for an open-pit development scenario. Then the more narrow but high-grade intercepts will raise the average overall grade profile of the deposit that is coming into picture along 1km of strike along the Elora Gold System.   Highlights:   Drill Hole DGR-25-011 intercepted 5.36 g/t gold over 5.00 meters including 12.70g/t gold over 1.90 meters at Jubilee HW Drill Hole DGR-25-018 intercepted visible gold at 238 meters true depth in the HW at Jubilee HW Drill Hole DGR-25-012 intercepted 15.30 g/t gold over 1.45 meters near surface at Pearl Drill Hole DGR-25-008 intercepted 1.18 g/t gold over 15.80 meters near surface at Pearl Drill Hole DGR-25-005 intercepted 2.20 g/t gold over 5.90 meters including 9.87 g/t over 0.90 meters defining a second high-grade gold structure at Pearl   We review that there is a current financing underway, and lots of drill core piling up at site, at the assay lab, and results will be able to be released after the financing is set to close on August 12th.   The drills have moved on to Sherridon for first pass drilling is following up on targets from the detailed mapping from 2024, and so that newsflow will be coming in a couple of months.   The drills will then be moved back to Elora Gold System to drill more at Laurentian, Pearl, Jubilee,  and importantly, will also test the areas in between those 3 initial targets.     If you have any questions for Trey regarding Dryden Gold, then please email me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Dryden Gold at the time of this recording.   Click here to follow the latest news from Dryden Gold

In this KE Report company update, Tara Christie, President and CEO of Banyan Gold, outlines a major strategic milestone for the company - the acceleration to 100% ownership of the AurMac Gold Project in Yukon. Key takeaway: Banyan is simplifying its ownership structure, eliminating legacy royalty entanglements, and gaining greater control over project development - all while preserving cash.   Highlights from the Interview: AurMac Ownership Deal: Banyan has entered an agreement with PricewaterhouseCoopers, receiver of Victoria Gold's assets, to acquire the remaining interest and eliminate multiple royalties and rights. • $2M cash due on closing, plus $1.6M in cash or shares within 75 days. • Expected to close by August 25th. Strategic Upside: • No further PEA requirement post-close, giving Banyan flexibility to include this year's drilling. • Simplifies ownership and reduces legal/financial overhang for potential investors or partners. • Eliminates constraints tied to Victoria Gold, enhancing independence and optionality. Drill Program & High-Grade Focus: • Over 100 holes drilled (~20,000m) toward a 30,000m program, running through October. • High-grade zones (e.g. 16m of 9 g/t Au) are being further defined — potential game-changers for a future PEA and starter pit economics. Strong Treasury: • ~$17M in cash post-spring financing, giving flexibility without near-term need for dilution or royalty sales. Growing Interest from Majors: • Multiple site visits ongoing into September. • Infrastructure advantages and visible high-grade core make AurMac an attractive project. If you have any follow up questions for Tara please email me at Fleck@kereport.com. Click here to visit the Banyan Gold website.

Elaine Ellingham, President and CEO of Omai Gold Mines (TSX.V: OMG) (OTCQB: OMGGF), joins me for an update on all the exploration and derisking work going on at both the Wenot and Gilt Creek Projects across this mineralized gold trend at the Company's 100%-owned Omai Gold Project in Guyana, South America.   We start off discussing the recent kudos and upgrades that Guyana has received from multiple sources as a mining jurisdiction.  Elaine shares their team's experience operating in country, the positives with regards to permitting and access to skilled labor and the advantages of working on a prior-producing brownfields site.  They have received the continued support of locals and the government to move this mine back into production.   This also ties into the news released on June 23rd, where the Company has awarded a contract to ERM International Group Limited ("ERM") to commence the Environmental Impact Assessment ("EIA") process.   There is already a large resource in place between the 2 Projects, at over 4.3 million ounces of gold, but there has been a lot of expansion and infill drilling completed since the last resource, and that will all be incorporated into the upcoming Resource Estimate due out in just the next few weeks.   We also reminded listeners that the Preliminary Economic Assessment released in 2024, was only on 45% of the mineral inventory on the open pit Wenot Project, and did not yet incorporate the Gilt Creek underground project economics.  The new PEA slated for Q4 will bring in expanded resources from all the drilling a Wenot, and will factor in the combined economics with Gilt Creek.   On June 25th the Company announced some drill intercepts of  2.67 g/t Au over 21.4m, 2.31 g/t Au over 24.6m, and 5.47 g/t Au over 9.7m from the Resource Expansion Program at Wenot.   On July 29th the Company announced some drill intercepts of 17.36 g/t Au over 7.5m, 2.64 g/t Au over 41.8m, and 3.49 g/t Au over 17.4m from the Resource Expansion Program at Wenot.   As part of their ongoing 15,000 meter drill program, we reviewed a very long hole that is currently being drilled through the underground deposit at Gilt Creek over to the area where the geological thesis is that there could also be deep resources well below the known mineralization at Wenot.  We discuss how this is the fun discovery part of exploration, with good scientific models behind it, and that if they do hit that far down at Wenot, it could be a real game changer adding on large potential underground opportunities below Wenot and even further mine life extension.   With the completion of their $25Million bought deal financing back in February, Omai has ample funds in the treasury, to keep executing on all the 2025 exploration and development programs.  There should be a steady stream of newsflow and key catalysts this year and well into next year.     If you have any questions for Elaine regarding Omai Gold Mines, then please email me at Shad@kereport.com.   Click here to see the latest news from Omai Gold Mines.

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins us to review the macroeconomic market movers he is watching fueling the continued melt-up in US equity markets.  Additionally, he outlines why he still remains bullish and holding positions in gold, silver, copper, and uranium stocks, but that he is also constructive on defense stocks in drones and rockets, and also accumulating energy efficiency companies.   We start off reviewing the sentiment shifting some in markets as tariff concerns with Europe, as the largest US trading partner, seem to have been quelled for now, and this has lifted the US dollar and reduced investor consternation. He  is not convinced in that the tariff implications are behind us, but believes the market is largely shrugging off the pause coming off of the reciprocal tariffs, as many of them just get pushed off further into the future. He notes that the recently passed tax cuts are seen as a market boon and in general the bull market is still plowing forwards in US stock indexes.   We discussed that gold and silver have pulled back as some of the tariff risks have come off the table, but that he still is encouraged by the longer-term uptrends and positive fundamentals backing the precious metals sector. Sean noted that after seeing gold channeling sideways the last couple of months at historically very high levels, that it needed to rest, but he's looking forward to the next few weeks of Q2 earnings reports from the gold producers.  Despite silver's recent volatility, Sean remains very constructive on silver and silver miners, and expects it to continue to outperform gold on a percentage basis in both directions.   When shifting over to copper, this discussion was recorded before the recent copper price crash due to proposed tariffs being rescinded, but we focused on the longer term steadily climbing copper price, but noted there was only a very muted response in the copper stocks to copper having climbed up to new all-time highs once again in July.  While he agreed this move higher in copper and the copper equities has been positive, and based on strong fundamental drivers, he's only had a few copper positions in place.   Next we got into the multi-month rally we've seen in the uranium and nuclear stocks coming off the April lows, and the positive fundamental tailwinds for nuclear power. We note all of the media attention being put on the large tech companies and governments around the world putting more focus on growing more nuclear power, nuclear stocks, select utility stocks, and uranium mining stocks.   Wrapping up, Sean outlines why outside of the resource investing space, he remains constructive on defense stocks focused on drones and rockets, and that he also is starting to accumulate energy efficiency and energy conservation companies.   Click here to follow along with Sean's work at Weiss Ratings Daily and Wealth Megatrends   Click here if you'd like to attend Sean's virtual presentation at the upcoming Money Show on Tuesday August 5th

In this KE Report company update, I'm joined by Mike Pettingell, Senior Vice President of Business Development and Strategy at Vizsla Silver (TSX: VZLA, NYSE: VZLA), to break down the company's expansive exploration strategy and its ambitions beyond the current Copala resource.   Key Focus: True Exploration, Resource Expansion, and the Hunt for “Project 2”   Highlights from the conversation include: 2025 Drill Campaign: Vizsla is in the midst of a 25,000-meter exploration-focused drill program, with 8,000 meters already completed. This is not infill or extensional - this is true exploration aimed at uncovering new centers of mineralization across the broader Panuco district. Project One - Resource Growth Near Copala: Focus on shallow, high-grade targets near the Copala and Napoleon corridors, which could improve early cash flow in the upcoming feasibility study. Drilling from underground platforms is planned to efficiently test high-potential zones. Proximal and Near-Mine Targets: Areas like San Peter, San Jack, and La Luisa sit within haulage distance to the proposed mill and could be fast-tracked into future mine plans if successful. Project 2 - District-Scale Discovery Upside: Follow-up drilling is underway at Animas (6m @ 900 g/t AgEq) and Camelia-San Dimas - targets located in the central and eastern parts of the district. These areas are higher up in the system geologically and could host large, standalone systems. New Greenfield Projects - Santa Fe, San Enrique, La Garra: Recently acquired and historically mined, these properties are now being evaluated for new resource potential. Santa Fe is the priority, with a permitted 350 tpd mill on-site. Vizsla aims to fast-track a 43-101 resource using legacy data and internal expertise. Exploration Budget: Vizsla plans to spend ~$20 million on exploration this year, with flexibility to expand based on drill success. If you have any follow up questions for Mike please email me at Fleck@kereport.com.  Click here to visit the Vizsla website to learn more about the Company.

John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joined us to review the new expanded Mineral Resource Estimate, development work building towards the Definitive Feasibility Study, and the ongoing 20,000 meter Phase 5 drill program at their wholly-owned Diablillos property in Salta Province, Argentina.    The updated MRE now totals 104 million tonnes ("Mt") of ore, containing approximately 199 million ounces ("Moz") of silver and 1.72 Moz of gold (350 Moz silver-equivalent "AgEq") in the Measured & Indicated ("M&I") category. This total includes a maiden heap leach Mineral Resource estimate and reflects significant increases across five deposits (Oculto, JAC, Fantasma, Laderas and Sombra) located at Diablillos.   Key Highlights of the Updated MRE (Combined Tank and Heap Leach):   Total M&I Mineral Resources (tank and heap leach) now stand at 104 Mt grading 59 g/t Ag and 0.51 g/t Au, containing 199 Moz Ag and 1.72 Moz Au (350 Moz AgEq). Tank leach Mineral Resource estimate totals 73 Mt grading 79 g/t Ag and 0.66 g/t Au, containing 186 Moz Ag and 1.55 Moz Au (327 Moz AgEq). Maiden heap leach MRE adds 31 Mt grading 13 g/t Ag and 0.16 g/t Au, containing 13 Moz Ag and 162 koz Au (23 Moz AgEq). Based on lower-grade material contained with the constraining Whittle open pit, previously classified as waste, now recognized as potentially recoverable though a low-cost processing route.   Key Changes Compared to Prior MRE (Tank Leach Only):   25% increase in contained silver in M&I Mineral Resources to 186 Moz Ag from 148 Moz Ag. 14% increase in contained gold in M&I Mineral Resources to 1.55 Moz Au from 1.36Moz Au. 27% increase in M&I silver-equivalent ounces to 327 Moz AgEq from 258 Moz AgEq.   With three drill rigs now active across the broader Diablillos land package, and the potential to add a fourth rig in the future, the Company is entering another exciting new phase of exploration growth. In addition, the Company is doing all the derisking work programs in parallel with exploration for their ongoing Definitive Feasibility Study due out in early 2026, which will be followed by a PEA on the heap-leach economics, and another updated to the mineral resource once all the Phase V data is incorporated into that study.   If you have any follow up questions for John regarding at AbraSilver, then please email us at Fleck@kereport.com or Shad@kereport.com.   In full disclosure, Shad is a shareholder of AbraSilver at the time of this recording.   Click here to visit the AbraSilver website and read over the most recent news releases.

Copper prices have surged above $5.60/lb, sparked by a proposed 50% tariff and supported by accelerating global demand. But while the metal's price keeps climbing, copper equities - especially explorers and developers - remain sluggish.   In this KE Report Daily Editorial, Matt Badiali, editor of The New Energy Investor at Mangrove Investor, joins us to break down:   The real story behind copper's rally - beyond tariffs How AI data centers are becoming a major new copper demand driver The investor disconnect between metal prices and mining equities Why copper producers and developers could benefit from structural shifts The capital drought in copper exploration - and signs of coming opportunity Matt also touches on how inflation, global electrification, and policy support continue to reshape the long-term copper narrative.   Click here to visit the Mangrove Investor website to follow along with what Matt is writing.  Bonus: Check out the new Resource Rundown podcast hosted by Cory Fleck and Matt Badiali - covering deeper trends in commodities - Click here to listen to the podcast!

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the 3 gold exploration companies, that have compelling drill targets, large strategic shareholders, and the potential for rapid upside moves if they make more compelling discoveries while expanding resources.     >> The companies we discussed in the interview are:   Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) announced July 22nd that it has signed a non-binding Letter of Intent (“LOI”) with a subsidiary of OceanaGold Corporation (TSX: OGC, OTCQX: OCANF). The parties propose to enter into a definitive agreement within 90 days for OceanaGold to acquire an option to earn up to a 75% interest in Headwater's TJ, Jake Creek and Hot Creek projects in Nevada through staged exploration expenditures totalling up to US$65,000,000 and the completion of Pre-Feasibility Studies.   Additionally, Headwater Gold announced on July 24th that drill permitting has advanced through the formal public scoping phase on Headwater's Lodestar project, located in western Nevada. Project scoping marks a significant step toward securing final drilling approval following the submission of a Plan of Operations to undertake a proposed 3,500-metre drill program. The Lodestar project is being explored in partnership with Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM) through an earn-in agreement announced on May 9, 2023.   Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCID: EQTRF) – On July 17th announced the mobilization of a diamond drill rig to the Cajueiro gold Project, in Brazil. Drilling will initially focus on testing depth and lateral extensions to the recently defined maiden mineral resource at Maria Bonita, followed by the drill testing of several recently identified porphyry targets within the Cajueiro district.   The company is cashed up for this exploration program after having raised $5.28 Million in a non-brokered Private Placement announced on July 2nd.   Cabral Gold Inc. (TSXV: CBR) (OTCQB: CBGZF) announced today the results of an updated Prefeasibility Study ("Updated PFS") on the development of near-surface gold-in-oxide material at the Cuiú Cuiú gold district in Brazil.   (we had recorded this interview yesterday and were unaware that this news would drop literally the next day, but this PFS shows the value proposition Erik outlined in the plan to develop and mine the saprolite for gold and earlier on cash flows from production to feed the exploration).   The Updated PFS, led by Ausenco do Brasil Engenharia Ltda. ("Ausenco"), resulted in significant improvements to the amount of gold produced, mine life, Net Present Value and Internal Rate of Return. These results confirm the Cuiú Cuiú gold-in-oxide starter project provides a high return and a low capital entry point to mine gold, with production possible within 12 months from an investment decision.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

In this KE Report company update, Jon Ward, CEO of Corcel Exploration (CSE:CRCL - OTCQB:CRLEF), joins us to outline recent progress at the Yuma King Project, including: Airborne Magnetic Survey: Identified four high-priority target areas - Yuma King Mine, Yuma King West, Three Musketeers, and a new covered target. Geophysical Insights: Strong magnetic signatures and structural overturning suggest stacked mineralized horizons. Drill Targeting Underway: Upcoming IP surveys and 3D data compilation set the stage for drilling in Q4. New VP of Exploration: Lee Beasley brings 20+ years of porphyry, VMS, and epithermal experience to lead technical advancement. Any follow up questions for Jon? Comment below or email at Fleck@kereport.com Click here to visit the Corcel Exploration website to learn more about the Company. 

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY), joins me for an introduction to this newly formed junior exploration company focused on silver and gold discoveries across the Parral District, in Chihuahua, Mexico.   We start off with Scott sharing some of the background on how this company came together, where he consolidated 15 mining concessions around the prior-producing Las Coloradas Mine to form their flagship Las Coloradas Project, and ensure that their land package has district-scale size potential.  After a few years of work consolidating the land, sampling and mapping, and reviewing historical data from Asarco, the Company is now engaged in a 3,000 meter drill program, with 6 priority holes along the strike of the old mine, and upwards of 11-14 holes in total, that may also test beneath the water table.   Next we discussed the secondary Almoloya Gold-Silver Project, that has about 3 times the land position as Las Coloradas, and also involved consolidating several large concessions, including the prior-producing Cigarrero Mine.   The mineralization is considered prospective for CRD types of polymetallic deposits, with the potential for near-surface oxide precious metals mineralization.   Wrapping up I had Scott share his background in the industry, highlight a few of the key members of the management team and board of directors, key stakeholders, and the financial health of this new exploration company.   The company is cashed up to execute on this exploration program, and drilling is underway.     If you have any questions for Scott regarding Kingsmen Resources, then please email those in to me at Shad@kereport.com.   Click here to follow the latest news from Kingsmen Resources

Mark Brennan,  Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review the Q2 2025 operations and 20,000 meter expansionary exploration program at the producing Minera Don Nicolas gold mine in Argentina, and the value proposition key upcoming development catalysts at the Lagoa Salgada VMS Project in Portugal and the Mont Sorcier Iron-Vanadium project in Quebec.    Q2 2025 M.D.N. Operating Highlights:   Gold Equivalent Ounce ("GEO") Production of 11,437 GEO for the 2nd Quarter 2025 Underground Development has commenced and production set to ramp up in H2/2025 Expanded crushing and agglomeration capacity should expand tonnages to the leach pads and improve recoveries at the Heap Leach operation 2025 Production Guidance of 55,000 - 60,000 GEO remains in place, production weighted to H2 2025 as underground ramps up 20,000m Exploration Program underway at MDN targeting potential significant resource growth opportunities   Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the record heap leach gold equivalent ounce production for the quarter. We discuss the positive impact that the newly installed secondary crusher has brought to production starting at the tail-end of Q2, but then will continue to be impactful on a move-forward basis in Q3 and beyond, with the quantity of ore being placed on the pad having increased.   The production profile will also keep growing in Q3 with the underground mining having now commenced.  With higher gold prices, the CIL plant continued to process lower-grade stockpiles and is planned to continue processing low grade stockpiles through Q2/25, after which it will be blended with new high-grade material from the underground mining operations, and this will increase the average grade throughput at the mill.   Another area of future growth will be the 20,000 meter drill program that is exploring the open pit resources, as well as identifying for more satellite open-pits at surface.   Having gone underground, there is also now the potential for underground exploration work to begin targeting new areas of mineralization or further defining existing areas of mineralization.     Next we unpacked the growing value proposition at the Lagoa Salgada VMS Project  in Portugal, with a Post-tax NPV of US$147 million and a 39% IRR in the current Feasibility Study. This Project adds both substantial precious metals resources along with critical minerals exposure (42 % Gold & Silver, 24% zinc, 14% copper, and 5% tin) to the future production profile.  We also discuss the 2 areas that will be addressed in the resubmission of their Environmental Impact Assessment (EIA) where approval is expected after upcoming political elections, and there will be an optimized Feasibility Study released in Q3, a construction decision by year end or early next year.  Construction is targeted for Q2 of 2026, with first production slated for H2 2027.*   We wrap up discussing the underappreciated value and ongoing derisking work that is moving towards a Bankable Feasibility Study in Q1 of 2026 at the Mont Sorcier Iron-Vanadium in Quebec. Recent metallurgical test work, has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%.     If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.   * In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time.   Click here to see the latest news from Cerrado Gold.

In this KE Report Company Introduction, I speak with Bob Archer, President and CEO of Pinnacle Silver and Gold (TSX.V: PINN | OTC: PSGCF | Frankfurt: P9J), as the company shifts its primary focus to Mexico with the El Potrero Project, following a strategic option agreement signed in February 2025.   Key Highlights from the Interview Strategic Shift to Mexico and Restarting Production Pinnacle Silver and Gold transitioned from its Canadian-focused past to pursue high-grade, near-term production opportunities in Mexico. The flagship El Potrero Project, located in the Topia district of Durango, is a past-producing asset, comprising multiple high-grade underground gold-silver mines. The company is using a cash-flow-first model - similar to Bob's prior success at Great Panther - aiming for production before establishing a large resource. Early Sampling Results Surface and underground channel sampling from the central “Pino Cuata” zone delivered grades as high as 85 g/t gold and 520 g/t silver (individual sample) Production-First Strategy and Flexible Option Deal Structured to earn 50% upon entering production, with the path to 90% and potentially 100% ownership. Targeting small-scale, high-margin production (~100 TPD), reducing permitting complexity and capital needs. Existing mill infrastructure and underground access greatly accelerate timelines and reduce costs. Well-Rounded Team with Strong Local Ties CEO Bob Archer brings 45+ years of experience, including founding Great Panther and multiple mine restarts in Mexico. Key technical advisors include metallurgical engineer David Salari, global geologist Colin Jones, and a Mexican technical team with local experience and community engagement. Strong Start to 2025 and Fully Subscribed Financing Recently closed a $1.3M financing, enabling mapping, LIDAR surveys, and potentially underground drilling as early as September. Pinnacle is also evaluating additional acquisition opportunities to replicate the Great Panther playbook. Red Lake Projects Remain in the Portfolio Two 100%-owned assets in Ontario (including the historic Argosy Mine) are on the back burner but remain part of the long-term growth pipeline. Please email me with any follow up questions you have for Bob - Fleck@kereport.com. Click here to visit the Pinnacle Silver and Gold website to learn more about the company and read over the recent news.

This week's KE Report Weekend Show dives deep into a market environment where nearly everything seems to be climbing higher. In Part 1, Rick Bensignor breaks down why tech and industrials are powering this melt‑up while retail traders outsmart institutions. In Part 2, Dan Steffens highlights overlooked energy opportunities despite oil's quiet range and natural gas volatility.   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review!   Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out.   Segment 1 & 2 - Rick Bensignor, President of Bensignor Investment Strategies and publisher of the In The Know Trader reports, kicks off the show to discuss a market environment defined by broad melt‑ups but driven mainly by tech and industrials, while noting opportunities emerging in beaten‑down healthcare, select metals like gold and silver despite near‑term pullbacks, cautious stances on oil and bonds, and long‑term upside potential in uranium and even Bitcoin as institutional adoption grows. Click here to visit the In The Know Trader website.   Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, joined the show to discuss why oil has been stuck in a tight $65–$69 range despite low inventories, how tariff fears and muted demand are weighing on prices, and why U.S. production may soon decline. He also highlighted natural gas volatility, rising LNG demand, and featured Canadian producer Whitecap Resources as a strong dividend‑paying growth story poised to benefit from future energy market tightness. Click here to visit the Energy Prospectus Group website for more energy market and stock analysis. If you want Dan's report on Whitecap you can email him at energyprospectus@gmail.com.    

Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins me for a review of Q2 2025 operations and production metrics from its Segilola Gold mine, located in Nigeria, and for the Company's ongoing exploration and development programs in Nigeria, Senegal and Cote D'Ivoire.   Segilola Q2 Highlights   Q2 gold poured of 22,784 ounces ("oz") Gold sales in Q2 2025 of 25,900 oz at an average realized price of US$3,187 resulting in revenue of $82.5 million Gold produced from 238,425 tonnes milled at an average grade of 3.12 grammes per tonne ("g/t") of gold and process plant recovery at 93.1% Mine production of 242,461 tonnes at an average grade of 3.02g/t of gold for 23,573 oz Ore stockpile decreased by 307 oz to 41,092 oz of gold at an average grade of 0.84g/t of gold   FY 2025 Outlook and Catalysts   FY 2025 production guidance range maintained at 85,000 to 95,000 oz of gold FY 2025 All-in Sustaining Cost ("AISC") guidance range maintained at $800 to $1,000 per ounce. Drilling programs across all the Company's exploration portfolio   Segilola: continuation of ongoing underground drilling program   Nigeria regional targets: continuation of scout drilling programs on identified near-mine and regional targets   Senegal  at the Douta Project:   Completion of drilling program at Baraka 3 prospect targeted to be incorporated into the Douta Preliminary Feasibility Study mine plan Completion of further Reverse Circulation ("RC") drilling targeting additional oxide resources Following completion of Douta Project drilling programs, preparation of Updated Mineral Resource Estimate and Pre-Feasibility Study ("PFS") at the Douta Project   Côte d'Ivoire: Exploration being advanced on the Guitry, Marahui and Boundiali licenses, with further drilling to occur on Guitry and drilling to commence on Marahui where drill targets have been delineated. During May and June 2025, Thor completed an initial 3,000 metre ("m") reverse circulation ("RC") drilling program at Guitry and has received initial assay results from the program. The objective of the program was to gain a better understanding of both the geometry and geological controls on gold mineralisation based on a new interpretation of the historic drilling results obtained by Endeavour Mining, the historical owner of the asset. The assay results received to date from this drilling program include the following highlights: Drillhole GURC25-208 - 14m at 2.59 grammes per tonne ("g/t") of gold ("Au") from surface Drillhole GURC25-209 - 4m at 6.87 g/tAu from 38m Drillhole GURC25-212 - 5m at 7.48 g/tAu from 5m Drillhole GURC25-214 - 10m at 10.36g/t Au from 57m Drillhole GURC25-216 - 7m at 3.93 g/tAu from 7m Drillhole GURC25-219 - 3m at 14.50 g/tAu from 82m Drillhole GURC25-221 - 13m at 3.46/t Au from 114m Drillhole GURC25-227 - 7m at 7.71 g/tAu from 77m Drillhole GURC25-228 - 5m at 12.65 g/tAu from 69m Drillhole GURC25-229 - 17m at 2.16 g/tAu from surface Further exploration at the Krakouadiokro Prospect will include both infill and step-out drilling.   Dividend   The Group will maintain the dividend policy announced on April 8, 2025, with the second quarterly dividend payment scheduled for August 15, 2025. Dividends for the quarter will be paid at an amount of C$0.0125 per share.     If you have any questions for Segun regarding Thor Explorations, then please email them into me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview.   Click here to follow the latest news from Thor Explorations

In this KE Report company update, I speak with Chris Donaldson, President & CEO of Valkea Resources (TSX.V:OZ - OTCQB:OZBKF - FSE:S600), to outline the next phase of exploration at the company's flagship Paana Project in the Central Lapland Greenstone Belt of Finland.   Key Highlights: Valkea recently raised C$4.1M (anchored by Michael Gentile) and is fully funded for its next drill campaign. A 2,000-3,000 m drill program is set to begin mid‑August, focusing on the Koivu Zone at the Aarnivalkea West target - testing extensions both along strike and at depth. Step‑outs of 50-100 m around discovery holes and broader step‑outs across a 1.3 km anomaly aim to define scale and continuity. Ongoing base‑of‑till drilling and target generation planned for other zones on the Panna property, plus early work at other projects. Valkea remains open to JV opportunities on non‑core assets while advancing its two main projects. With significant activity from majors and explorers in this region, Valkea's upcoming drill program is designed to define the size and potential of a promising discovery. Results are expected to begin arriving six to seven weeks after drilling commences.   Any follow up questions for Chris can be emailed to me directly at Fleck@kereport.com.  Click here to visit the Valkea Resources website to learn more about the Company.

In this in‑depth company update, I speak with Craig Nichol, Founder & CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF), to address your recent questions and unpack the latest news across GMG's product lines and R&D initiatives.   Topics we cover in detail: G® Lubricant: July 4th news release – progress on sales channels, palletization, and global distribution plans Regulatory approvals underway in Europe and the U.S. (EPA and REACH) Feedback from large truck fleets and the timeline for scaling with distributors Revenue targets and steps toward positive cash flow THERMAL-XR®: Launch plans for the new TXR kit, designed for easy adoption and energy savings Similar palletization and distribution strategies as G Lubricant Battery Division: Australian patent granted on GMG and University of Queensland's aluminum‑ion battery Collaboration agreement with UQ and government support to accelerate R&D Partnership with BIC in the U.S. to produce and test cells ahead of scaling up What milestones investors should watch for next Craig also shares candid insight on regulatory hurdles, distributor onboarding, and what it will take to turn today's strong gross margins into meaningful, near‑term cash flow. Have questions for the next interview? Email: fleck@kereport.com   Click here to visit the GMG website to learn more about the Company.

Joel Elconin, co‑host of the Pre‑Market Prep show and founder of the Stock Trader Network, joins us to break down the almost‑everything bull market pushing indices to record highs. Key topics covered: Leadership driving the rally: Big tech names like Microsoft, Nvidia, Google, Meta, and Broadcom leading markets to fresh highs, with value names like Berkshire and JPMorgan also participating. Earnings season takeaways: Why some companies get punished despite beating estimates, cautious guidance trends, and how tariffs are factoring into outlooks. Retail investor dynamics: The resurgence of meme‑style moves, retail's influence in small caps, and how institutions are adapting. Opportunities ahead: Joel's perspective on small caps, sector rotation, and what to watch as July closes out with key reports from Apple, Amazon, and other tech giants.   Click here to visit Joel's PreMarket Prep website. Click here to visit the Stock Trader Network.

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us for a longer-format discussion on and the macro and micro themes that are continuing to push the US general equities, cryptocurrencies, and commodities markets ever higher, in an “Everything is awesome,” melt-up higher.  Nick shares how he has been positioned early in these trends with rare earths, copper, uranium, and critical minerals stocks.   We start off reviewing how the US fiscal policy is leading to a weaker US dollar, which has been a key tailwind to US equities, cryptos, and the commodities sectors.  We review the impacts of the back-to-back Biden and Trump administration policies that both increased the US debt and deficits, with the passage of large fiscal policy bills, that have acted as an additional tailwind to the critical minerals and energy metals side of the mining sector.   Both the Inflation Reduction Act and the Big Beautiful Bill respectively, had provisions in them for accelerating the development of nuclear power infrastructure and uranium mining, a focus on critical minerals like lithium, rare earths, and copper, and how this is bringing in new investors waking up to how the commodities space is really the building blocks of many other sectors in our economy and daily life.   This leads into a more in-depth discussion on the rare earth sector in particular, where Nick notes the recent Department of Defense investment into MP Materials Corp. (NYSE: MP) as a key stakeholder, but also providing them a floor on their Neodymium products, and agreeing to be a buyer future magnet production.   Then, shortly thereafter, Apple Inc. (NASDAQ: AAPL) made a $500M investment into MP Materials to accelerate and help fund the future development of a permanent magnet recycling plant in Texas.   Nick points to CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF), as another company poised to start recycling permanent magnets, also in Texas. Additionally, he highlights the heavy rare earth production capacity increasing from Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU), as another way to participate in the tailwinds pushing the rare earth stocks higher.   Next we pivoted over to the importance of copper, and the recent move higher in prices on the back of the proposed Trump tariff on this energy metal.  Nick flags Freeport-McMoRan Inc. (NYSE: FCX) as a domestic producer that he feels has been offering investors a good accumulation period on future growing revenues. He also highlights his recent private placement into an earlier-stage prospect generator, Kincora Copper Limited (TSXV: KCC) (ASX: KCC), with exploration properties looking for copper and gold porphyries in Australia.  Nick also describes how this company has forged partnerships with AI and technology companies; a trend that he expects to see more of as the mining sector evolves and more companies look to secure their own supply chains.    Rounding out the discussion on critical minerals, and providing an example of how to trim and reposition on pullbacks in winning portfolio positions, Nick discussed how he has approached trading around a core position in Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF).    This leads into a segment where Nick shares what changes he has made to how he approached managing his portfolio, and other best practices for trading and investing within the resource sector as this bull market evolves over time.   Click here to follow Nick's analysis and publications over at Digest Publishing

Brad Rourke, President and CEO of Scottie Resources (TSX.V:SCOT – OTCQB:SCTSF), joins me to review a number of key takeaways from recent newsflow on the further derisking work building towards an upcoming Preliminary Economic Assessment (PEA) and the largest ever drill program exploring and expanding resources at the Scottie Gold Mine Project located in the Golden Triangle of British Columbia.   We start off reviewing that drilling has been underway with 3 diamond drill rigs on the property and a 4th drill rig is being added in the next week focused at targets around the past-producing Scottie Gold Mine and the adjacent, high-priority Blueberry Contact Zone-is located just 35 kilometres north of Stewart, British Columbia. Brad points out that a big percentage of the planned 25,000-30,000 meters will be focused on upgrading the resources from inferred to indicated categories as well as resource at the Blueberry Contact Zone, with a focus on the open pit and upper portions of the underground resources at both Blueberry and Scottie, and detailed testing of the siltstone side of the contact zone. We also review follow-up step-out drilling on the Wolf Zone target discovered in 2024 at the Scottie Gold Mine area.   Ongoing geotechnical and hydrogeology drilling will also provide data to inform mine design and assist efforts with the recent initiation of Baseline Environmental Studies. With all this exploration and fieldwork now underway, the Company remains on track to deliver a low-capex PEA based on a Direct Shipment Ore (DSO) scenario in October.  Brad reiterates that the management team and board believes this coming economics study will clearly highlight the significant, untapped value of the Scottie Gold Mine Project.    Next we touched on the big news out to the market today on July 24, 2025, which announced that Scottie Resources has received all required permits from the government of British Columbia to proceed with a 10,000-tonne surface bulk sampling program. The Bulk Sample is slated to be taken from the road accessible, outcropping Bend Vein located on the north end of the Scottie Gold Mine Project, and is expected to produce 3,000 - 4,000 tonnes of mineralized rock.  This will be a nice opportunity to learn more about a number of metrics and provide a nice proof of concept, as well as generating some non-dilutive capital for the Company in the process.   When reviewing their direct-ship ore strategy, Brad highlighted that Scottie has one of the closest gold projects to a deep-sea shipping terminal, which based on its location is positioned in one of North America's cheapest commercial shipping lanes to Asia. In addition to the ease of a proposed open-pit mine, which already has an existing mine permit, there is also key external infrastructure in place, such as power lines and hauling roads right to site.    Wrapping up we review the importance of the recent financing announced on July 9th, for a $16.8 million non-brokered private placement financing, of which a lead order of $6 million, translating to $8.4 million in charitable flow-through funding, will be provided by Ocean Partners UK Limited.  Brad outlines that Ocean Partners, in addition to their participation in the recent financing, has entered into a binding term sheet with Scottie to provide a commercial offtake agreement 100% production for first 8 years of commercial production, and has made available a construction loan and overrun facility of USD$25 million, to advance the Scottie DSO Project towards production.     If you have any questions for Brad regarding Scottie Resources, then please email them in to me at  Shad@kereport.com.   In full disclosure, Shad is a shareholder of Scottie Resources at the time of this recording and may choose to buy or sell shares at any time.   Click here to follow the latest news from Scottie Resources

In this company update, Kiran Patanker, President and CEO of Maple Gold Mines (TSX-V: MGM - OTCQB: MGMLF - FSE: M3G) joins us to recap Maple Gold's recently completed and fully released 12,000‑meter drill program at the Douay Project in Quebec. This was an upsized campaign, from 10,000 to 12,000 meters, targeting growth beyond the current 3Moz gold resource. Key discussion points: Strategy & Goals: Expanding and upgrading the Douay resource through down‑plunge extensions and targeted step‑outs in zones like Nika and 531. Standout Results: • Nika Zone - 2.1 g/t Au over 108m, including multiple high‑grade intercepts. • 531 Zone - 15m @ 4.9 g/t Au, 11.4m @ 3.7 g/t Au, and more significant depth extensions. Efficient Execution: Delivered at ~$300/m all‑in cost vs. $400 budgeted, covering six zones across 21 holes. Next Steps: Upcoming updated Mineral Resource Estimate, plans for follow‑up drilling in high‑grade zones, and advancing exploration across the 500 km² land package. Maple Gold aims to grow its 3Moz resource toward 5Moz by combining open‑pit optimization with new bulk‑tonnage underground potential.   Please email me your follow up questions for Kiran. My email address is Fleck@kereport.com.  Click here to visit the Maple Gold Mines website to learn more about the Company.

In this KE Report company update, I'm joined by Garrett Ainsworth, President & CEO of District Metals (TSX.V:DMX - OTCQB:DMXCF - Nasdaq First North: DMXSE SDB), for a deep dive into the company's ongoing and upcoming work across its uranium portfolio in Sweden. Key topics covered: Share price momentum: District's stock has moved sharply higher since May with strong volume, driven by improving uranium market sentiment, ongoing project work, and potential inclusion in the Global X Uranium ETF (URA). Flagship Viken Project: Recent mobile MT survey results are mapping depth and thickness of the Alum Shale formation with unprecedented clarity - critical groundwork for selecting the best target area for an upcoming PEA. Broader exploration portfolio: Updates on radiometric and magnetic surveys at Ardnasvarre, Säckjärn, and Nianfors, each hosting historic uranium mineralization with strong grades. Uranium moratorium progress: Sweden's legislative process to lift the moratorium remains on track, with potential government votes expected in Q4 2025, positioning District to move quickly once approvals are in place. Near-term catalysts: Multiple data releases expected in coming months, including survey results, drill assays from Tomtebo, and updates on Sweden's legislative timeline. Garrett also shares how District is preparing to prioritize its projects, balance work on high-grade prospects, and potentially partner on non-core assets - all while staying ready to advance Viken as soon as policy changes allow.   If you have any follow up questions for Garrett please email me at Fleck@kereport.com.  Click here to visit the District Metals website to learn more about the Company.

In this interview, we introduce Tero Kosonen, Chairman & CEO of FinEx Metals (TSX.V:FINX), a newly listed exploration company with five projects in northern Finland, highlighted by the Ruoppa Project. FinEx is part of the NewQuest group, known for backing discovery‑driven exploration companies like Headwater Gold and Inflection Resources. Key discussion points: Strategic land position: Ruoppa lies just 17 km from Agnico Eagle's Kittilä Mine and near Rupert Resources' high‑grade Ikkari discovery. Exploration progress: Four years of groundwork including geophysics, trenching (highlight grab sample of 95.1 g/t Au), and top‑of‑bedrock drilling. Upcoming catalysts: A fully permitted maiden drill program starting in days (12-14 holes, ~2,500m) with results expected by mid‑September to early October. Strong team & infrastructure: Led by experienced Finnish geologists with excellent government relationships and support, operating in a region with roads, power, and year‑round access. Portfolio beyond gold: Additional permitted projects include nickel‑PGM‑cobalt targets in eastern Lapland with potential for partnerships. FinEx is well‑funded (~C$4M treasury) and positioned in one of the world's most prospective yet underexplored belts. Investors are watching closely for early drill results that could signal a new discovery. If you have any follow up questions for Tero please email us. Fleck@kereport.com and Shad@kereport.com.  Click here to visit the FinEx Metals website to learn more about the Company.

Mike Larson, Editor-in-Chief at Money Show, joins us to recap insights from the recent MoneyShow Conference in Las Vegas and tie them into today's market trends. In this interview: A remarkable rebound in global markets after April's volatility Strong interest in commodities and metals beyond gold - silver, copper, platinum, palladium Why retail investors are more informed and active than ever How a shift away from the traditional 60/40 portfolio is fueling interest in hard assets Thoughts on meme-stock resurgence, crypto adoption, and why oil is lagging Mike also shares how investors are positioning amid tariff negotiations, global supply-chain priorities, and a broadening bull market that spans U.S. equities, international markets, and resource stocks. Click here to find out about the upcoming MoneyShow conferences.

In this KE Report interview, I speak with Tim Clark, President & CEO of Fury Gold Mines (TSX:FURY - NYSE:FURY), and Brian Atkinson, Senior Vice President of Exploration. Key topics covered: Lithium discovery at Elmer East: Context on the recent results from the Quebec Precious Metals acquisition and Fury's strategy to monetize non‑core assets while staying focused on gold. Committee Bay Drill Program (Nunavut): A 5,000m campaign with 7-10 holes targeting new shear‑zone horizons and step‑outs from high‑grade 2021 intercepts. Sakami Project (Quebec): Ongoing 3,000-5,000m drilling confirming historical high‑grade shoots and advancing toward a potential resource estimate. Corporate catalysts: Agnico Eagle's participation at Committee Bay, a strong $60M+ treasury, and a strategy designed to add value and attract partners across the portfolio. With two active drill programs and multiple catalysts ahead, Fury is positioning itself as a best‑in‑class junior explorer in a commodities bull market. If you have any follow up questions for Tim or Bryan please email me at Fleck@kereport.com.  Click here to visit the Fury Gold Mines website to learn more about the Company and read over the recent news.

In this KE Report company update, we speak with Caleb Stroup, President & CEO of Headwater Gold (CSE:HWG - OTCQB:HWAUF), about a significant new development for the company. Headwater Gold has signed a Letter of Intent (LoI) with OceanaGold to explore three Nevada projects - TJ, Jake Creek, and Hot Creek - with the potential for OceanaGold to earn up to 75% interest by spending US$65M and advancing the projects through to pre-feasibility studies. Key topics discussed: The structure of the OceanaGold partnership and earn‑in stages Work already completed at TJ, Jake Creek, and Hot Creek How this new partnership complements Headwater's existing deal with Newmont Headwater's hybrid model: retaining 25% carried interest plus a royalty while operating partner‑funded projects Near‑term plans, including drill programs and potential self‑funded exploration This LoI highlights Headwater's ability to secure partnerships with major producers while maintaining significant upside for shareholders. Please email your questions for Caleb to us at Fleck@kereport.com and Shad@kereport.com.  Click here to visit the Headwater Gold website to read over the recent news.

In this KE Report daily editorial, I'm joined by Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets. Darrell oversees the firm's commodities trading desk and offers a unique perspective on the markets - focused on hedging, volatility, and positioning through uncertainty. In this interview, we review key themes from Darrell's recent presentations at the Las Vegas MoneyShow and dig into where investors are focusing in 2025. Key topics covered: Year‑to‑date commodities review: Precious metals and copper leading the pack; top four performers are platinum, copper, silver, and gold. Tariffs, correlations, and drivers: Why dollar correlations are breaking down and how tariffs are reshaping physical flows in metals. Copper staying strong: How tariffs and infrastructure demand are driving record‑high Comex copper, even while global supply remains constrained. Energy lagging: Why crude remains range‑bound with downside risk despite low inventories, and why natural gas fundamentals look more constructive. Rotation potential: Will investor flows broaden into lagging commodities like grains and softs in the second half of 2025 and into 2026? Darrell also shares insights on trading volumes, hedging behavior, and how muted tariff reactions are shaping day‑to‑day market moves. Click here to learn more about Bannockburn Capital Markets.

In this KE Report company update, we speak with Charles Funk, President and CEO of HelioStar Metals (TSX.V:HSTR - OTCQX:HSTXF - FRA: RGG1), to break down the company's latest milestone: the restart of mining operations at the San Agustin mine in Mexico, with production expected in Q4 2025. Key discussion points: Receipt of key permits enabling pit expansion and leach pad height increase CapEx of only ~$4.2M with an estimated $40–50M in cash flow from San Agustin Steps toward stacking ore in Q4 and generating immediate production Near‑term exploration plans: oxide drilling for mine‑life extensions and sulfide targets for long‑term upside Clear growth trajectory - from 30-40K ounces in 2025 to 150-200K ounces/year by 2028 with minimal dilution HelioStar's strategy blends near‑term production with ongoing exploration upside across assets like Ana Paula and La Colorada.   Please email me at Fleck@kereport.com with any follow up questions for Charles.  Click here to visit the Heliostar Metals website to learn more about the Company.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the 3 pre-discovery gold and copper exploration companies, that have large Tier 1 drill targets and the potential for rapid upside moves if they make a compelling discovery and hit with the drill bit on current programs.     >> The companies we discussed in the interview are:   Rackla Metals Inc. (TSX-V: RAK) (OTC: RMETF) – On July 14th, 2025 Rackla Metals announced that drilling and had commenced at the BiTe zone on the Grad property NWT.  The Grad property was staked in July of 2024, and immediate prospecting defined strong gold mineralization at the base of the south facing cliff.  Further sampling in August identified significant sheeted veining hosted in the intrusive and that combined with the gold, bismuth and tellurium geochemistry made it clear that the Company had discovered a compelling Reduced Intrusion-related Gold Systems (RIRGS) occurrence that had never previously been identified or staked.   Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) – On July 21, 2025, Inflection Resources announced that it completed the acquisition of an 100% interest in a portfolio of copper-gold projects in the Northern Territory and New South Wales, Australia from subsidiaries of Newmont Corporation. This provides the company optionality on how to advance those properties. The main near-term value drivers will be when more assays get released from any of their four projects that JV option partner AngloGold Ashanti elected to advance to Phase II earn-in. The four Designated Projects are Duck Creek, Trangie, Crooked Creek and Nyngan.   Westward Gold Inc. (CSE: WG) (OTCQB: WGLIF) - On July 8, 2025, Westward Gold announced that drilling is underway at its flagship Toiyabe Hills Property in Lander County, Nevada. Over the next several months, Westward will be testing its Campfire Target Complex for the first time, with approximately 5,000 metres (~16,500 feet) of reverse-circulation (“RC”) drilling across this top-priority zone within the ~61 square-kilometer consolidated Property.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

In this KE Report daily editorial (July 22), we speak with Dave Erfle, Founder and Editor of the Junior Miner Junky, to unpack what's driving the precious metals momentum and how the sector is setting up into the back half of the year. Key discussion points: Gold Majors Reignite: Agnico and Newmont posting strong moves as gold attempts a breakout above $3,450. Technical Setups: Dave compares today's action to previous bullish consolidations and shares key resistance levels on GDX and silver. Valuation Disconnect: Juniors with proven ounces still trading at fractions of in‑ground value despite rising margins for producers. M&A Outlook: Who might start buying - majors or mid‑tiers - and why high‑capex projects could slow deals. Forward-Looking Strategy: Why Dave expects $4,000 gold and $50 silver, and how investors can position for more upside. Click here to visit the Junior Miner Junky website to learn more about Dave's investment letter. 

Shaun Heinrichs, President and CEO of 1911 Gold Corp (TSXV: AUMB) (OTCBB: AUMBF), joins me to for a comprehensive exploration and development update for advancing their True North Project, which includes a permitted mine and mill complex located on the Company's 100%-owned Rice Lake Gold property, spanning  61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, Canada.   Shaun outlines how 1911 Gold believes its land package is a prime exploration opportunity, on a brownfield site, with the potential to develop a mining district centered on expanding resources and eventually moving back into the development of the past-producing True North complex.  In addition to the permitted mine, there is a 1300 tpd permitted mill in place, which is expandable to 2250 tpd, which would have access to cheap hydroelectric power, and there is a permitted tailings area.   There is an ongoing aggressive exploration program underway at surface for shallow high-grade targets as well as at depth, at their 2 new discoveries: the San Antonio West and San Antonio South East. The ongoing drilling is expanding the known resources of around 1.1 million ounces of gold in all categories. There will be a steady stream of exploration updates over the balance of this year. Additionally, this exploration date will be fed into future resource update slated for early in 2026.   The next major milestone for the company will be incorporating mine modeling and engineering models as the company works towards a Preliminary Economic Assessment (PEA), anticipated by year-end.  Shaun also highlights that after the PEA in Q4, and the resource estimate update in Q1, that another key future milestone will be 2 different trial mining and bulk samples slated for the middle of next year.   These will be crucial in confirming and comparing to the data outlined in the PEA, for acting as a proof-of-concept, and the bulk samples will be processed at their mill and bring in non-dilutive capital to the company during the learning process. The company is financially sound, and cashed up for all work initiatives through those bulk samples next year.     If you have any questions for Shaun regarding 1911 Gold Corp, then please email me at Shad@kereport.com.   Click here to follow the latest news from 1911 Gold Corp

Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnican on X) and publisher of Goldfinger Capital on YouTube and Substack, joins me for a wide-ranging discussion on macroeconomic market movers as well as his fundamental and technical outlook on gold, silver, copper, and their related resource stocks.   There are a range of topic covered when reviewing the macroeconomics landscape which include:  The Trump administration's policy on tariffs, Fed policy, the continued US dollar weakness, central bank buying of precious metals, the continued move higher US equities and cryptocurrencies in a very risk-on market, and China's economic health improving.   Shifting over to the precious metals, Robert points out that gold is still playing a role as an alternative currency and as a solid hard asset and safe haven for investors as a store of value.  We look to the upcoming positive expectations for Q2 earnings season in the gold producers over the next few weeks, and discuss how money has moved down the risk curve from the producers and quality developers into the optionality plays, advanced explorers, and discovery-stage exploration companies. We also opine on the kinds of merger and acquisition deals we may start to see as cashed up producers merge with one another to mass up or may go after large defined orebodies without a prohibitive capex to build them into mines. Robert highlighted Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF), Sitka Gold Corp. (TSXV: SIG) (OTCQB: SITKF), and Ramp Metals Inc. (TSXV: RAMP) as three gold exploration stocks that have his attention at present.   Next we discuss the technical setup for silver as it has been in a catchup trade to gold, where it has been leading the last few months on a percentage basis.  We also note that the silver stocks have really moved a lot in response to this latest move in silver, adding credence to wider breadth across the PM sector.   We wrap up looking at the technical setup in the price action we've seen in copper, blasting up over $5 for the third time and to recent all-time highs on the back on the proposed Trump tariffs on the red metal.  Robert shares a few copper exploration stocks he likes, such as Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) and Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF), and reiterates why he likes Idaho, Nevada, and Arizona as US jurisdictions for copper companies.   Follow Robert's analysis on Substack   https://ceo.ca/@goldfinger   Click here to follow Robert on X/Twitter   https://www.youtube.com/@GoldfingerCapital/videos

Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQX: MGMNF), joins me for a review of H2 2025 guidance and an operations update at their producing McCreedy West copper mine in Sudbury, Canada.  We also review the ongoing exploration and development work at the Levack Mine, working towards and updated resource estimate in Q3 and mine restart plan by year-end for potential production in 2026. We also review the news out today about the closing of the acquisition of a package of development and exploration projects from NorthX Nickel Corp.   We kick off the conversation with a review of production and cost guidance for the second half of 2025 a their McCreedy West Mine.   Highlights (in USD unless otherwise stated):   Quarterly ore sales from the 700 Copper Zone are expected to be between 80,000 and 92,000 tons in the second half of 2025. Contained copper equivalent grade expected to be between 2.9% to 3.4% in Q3 2025, and 3.8% to 4.4% in Q4 2025. Cash costs (per copper equivalent pound) expected to be $3.85 to $4.40 in Q3 2025, reducing to $3.11 to $3.66 in Q4 2025. AISC (per copper equivalent pound) expected to be $4.95 to $5.49 in Q3 2025 and $3.85 to $4.47 in Q4 2025.   Jason discusses the primary focus at McCreedy West for this year is really getting all the development work completed to be able to really ramp up production in a big way in 2026.  The company has invested capital into underground equipment and additional development, hired additional people to support a 24-7 operation at the mine, and they are seeing the benefits of this plan materialize. The mine plan for this year is evolving, where a 3rd party contractor has been brought in to get in front of 6+ months of extra underground development, with the plan to get access to mining areas that have better grades like the area to the west of the 700 Copper Zone.  Jason explains that they expect all-in sustaining costs to decrease in 2026 after concluding their accelerated capital development program and achieve our optimization goals.   There will still be ore processed each quarter, but the operations teams wants to get enough stopes opened up through development for the balance of this year to have options in accessing mineralization from different parts of the mine.   We also reviewed how in addition to the high-grade copper area of the mine in the 700 Copper Zone, that there is the Intermain Nickel Zone and a Precious Metals Zone, with platinum, palladium, and gold that can be accessed down the road at the right metals prices and margins.   Next we transitioned over to all the exploration focus at the past-producing Levack mine and Jason outlines the Company strategy to keep aggressively drilling and delineating mineralization with a targeted Resource Estimate for Q3, while also continuing with engineering work to then put out a Mine Restart Plan by year end or the beginning of next year. This is all leading towards the pathway for bringing the Levack Mine back into production in 2026.   Additionally, the team is still advancing similar derisking and development work at their Crean Hill Project where, depending on financial market conditions, it could be on a dual track for production in late 2026 or early 2027.    Wrapping up we reviewed a few of the exploration and development properties included in their acquisition which closed today with portfolio of properties located in the Sudbury Basin from NorthX Nickel Corp. (CSE: NIX). The NorthX properties being acquired represent 304 km2 of mineral claims, leases and patents in the Sudbury area. The acquisition of the NorthX property portfolio brings Magna's aggregate holdings in the Sudbury area to 584 km2. Several properties host known exploration targets within Sudbury Breccia units in the footwall of the Sudbury Igneous Complex (SIC), including the Wisner, Blezard, Frost Lake and Creighton South properties. The Wisner property historically produced 295,000 tonnes grading 0.9% Cu and 4.1 g/t Pt + Pd + Au from the surface Broken Hammer Zone (Technical Report on Wallbridge's Sudbury Area Properties, Ontario (Canada), 2017). The Blezard and Creighton South properties cover portions of the footwall environment near the known Blezard and Creighton contact deposits, which have measured and indicated resources of 7.9 million tonnes grading 1.0% Ni, 0.7% Cu and 6.2 million tonnes grading 4.5% Ni, 3.3% Cu, respectively.     If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording.   Click here to follow along with the news at Magna Mining

In this company update, I reconnect with Mike Burke, Director & VP of Corporate Development at Sitka Gold (TSX.V:SIG - OTCQB:SITKF - FRE:1RF), to discuss the latest drill results from the RC Gold Project in the Tombstone Gold Belt, Yukon.   On July 17th, Sitka reported new results from the Saddle Zone, an area within the conceptual pit boundary of the Blackjack deposit. These intersections are demonstrating near-surface, multi-gram gold mineralization roughly 300 meters east of the current resource outline - effectively converting previously classified waste into potentially economic material.   Key discussion points: Saddle Zone Expansion: Intersections grading ~2 g/t gold, double the Blackjack resource average, with implications for future economics. Eiger Step-Outs: New drilling on the western margin intersecting broad widths of Iger-style mineralization, linking deposits. Resource Growth Potential: Blackjack & Eiger already host 2.8M ounces (Inferred and Indicated) combined; ongoing drilling continues to grow these cornerstone deposits. Steady News Flow: Over half of the 30,000m drill program completed with results expected through year-end and into early 2026. Shareholder Interest: Insights from recent Yukon site tours, showcasing the proximity of multiple targets and the project's scale.   If you have any follow up questions for Mike please email me at Fleck@kereport.com.  Click here visit the Sitka Gold website to learn more about the Company. 

Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market website, joins us for this special Sunday editorial on the KE Report. Key topics discussed: Inflation Data: A closer look at why headline inflation remains above the 2% target and why base effects suggest future readings may edge higher. Fed Policy Outlook: Despite political noise, the Fed remains patient. Marc explains why some members (like Waller) are pushing for earlier cuts and how labor market weakness - not just inflation - may drive the next move. Market Reaction: Are potential Fed cuts already priced in? Why retail buying and FOMO are fueling equity highs, and what that means for risk ahead. Tariffs & Earnings: How shifting tariffs could pressure margins, stoke inflation, and impact upcoming earnings season. Global Events: What to watch this week: flash PMIs, the ECB meeting, Tokyo CPI - and why Japan's political backdrop is worth noting.   Click here to visit Marc's site - Marc To Market.

This weekend's show dives into what's really driving markets amid tariff tensions and why global money is quietly rotating into commodities and resource stocks. If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don't forget to subscribe and leave us a review! Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out. Show Segments Segment 1 & 2 - Peter Boockvar, Chief Investment Officer at Bleakley Financial Group and editor of The Boock Report on Substack, joined the show to share his views on a market rally driven by AI enthusiasm despite uneven economic data, a global rise in long‑term rates, and shifting foreign capital flows. He also highlighted opportunities in international equities, a sustained bull case for commodities like gold, silver, and oil, and the need for patience with resource stocks as sentiment slowly rebuilds. Click here to follow Peter at The Boock Report.    Segment 3 & 4 - Matt Geiger, Managing Partner at MJG Capital, joined the show to discuss his resource‑focused fund's strong first half of 2025, driven largely by precious metals and standout positions like Bravo Mining and Neo Performance Materials, while highlighting his portfolio's heavy weighting in copper and growing exposure to prospect generators. He also shared insights on shifting global capital flows, U.S. rare earth policy moves like the MP Materials deal, and Tether's investment in Elemental Altus Royalties as early signs of new outside capital entering the mining sector. Click here to visit the MJG Capital website and read over Matt's investor letter.   

In this KE Report company update, I'm joined by Simon Dyakowski, President and CEO of Aztec Minerals (TSX.V:AZT - OTCQB:AZZTF), to discuss the July 17th news release on the drill program and ownership at the Tombstone Project in Arizona. Key Highlights: First seven holes completed in the current drill program, totaling just over 1,200 meters, focused on the Southern Extension Zone along the Contention structure. Follow-up drilling around last year's high-grade silver discovery (highlight: 569 g/t silver equivalent over 26 meters). Ownership increased to 85% after JV partners partially participated in recent work, moving Aztec closer to potential full control. Overview of the 5,000-meter blended RC and diamond drill program, including plans for deeper core holes targeting CRD-style mineralization. Expected assay turnaround in approximately four weeks, with updates anticipated in early August. Simon also explains the joint venture structure, dilution process, and the exploration strategy as the team advances this largest drill program to date at Tombstone. Please email me any questions you have for Simon. My email address is Fleck@kereport.com.  Click here to visit the Aztec Minerals website.

Dave Erfle, Founder and Editor of Junior Miner Junky, joins me to share insights on the accelerating momentum in the precious metals sector. In this discussion we cover: Financing trends: A surge in capital flowing into PEA‑stage juniors, with major strategic partners taking large stakes in recent $30M+ financings. Sector strength: Miners and juniors showing relative strength as gold consolidates near $3,300 and silver breaks out, with the gold:silver ratio trending lower. Earnings season outlook: Why companies like Newmont could deliver significantly higher cash flow with gold ~$400/oz above Q1 levels. Copper market dynamics: Tariff-driven moves, record backwardation between U.S. and LME markets, and the potential for explorers to catch renewed investor interest. Dave also shares portfolio management insights, noting when he takes profits on big winners and where he's looking for new opportunities - particularly in copper juniors. Watch for: Signs of a sustainable bull market as financings are bought, not sold. A rotation of capital further down the food chain to riskier juniors. Key support levels: gold $3,300/$3,200 and silver $37.50, setting up for potential runs toward $4,000 gold and $50 silver later this year. Click here to visit the Junior Miner Junky website to learn more about Dave's investment letter. 

In this KE Report company update, I chat with Mike Spreadborough, Executive Co‑Chairman, and Kas De Luca, General Manager of Exploration at Novo Resources (TSX: NVO - OTCQB: NSRPF - ASX:NVO ), to recap the latest results from the Tipperborough Project in New South Wales - part of their growing greenfields exploration portfolio. Key Highlights from the Interview: Strong maiden drill results from the Clone target, including 12m @ 5.9g/t Au and 17m @ 2.4g/t Au, all near surface. Insight into the broader 500m strike length tested by 14 RC holes and how these results stack up as some of Novo's best since pivoting back to exploration. Discussion on other prospective targets (New Bendigo, Pioneer, Phoenix) and how these results help prioritize future drilling. Updates on upcoming field programs at Tipperborough, John Bull, Grafton, and Pilbara antimony/gold projects, with active mapping and sampling underway across the portfolio. Commentary on Novo's exploration strategy, logistics, and near‑term news flow and funding position. Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.   Click here to visit the Novo Resources website to learn more about all the projects and exploration programs.