The KE Report

Craig Hemke, Founder & Editor TF Metals Report, joins us for his weekly editorial to break down the latest moves in the U.S. Dollar, the precious metals sector, and positioning in the silver market.   Key Themes Covered: U.S. Dollar Breakdown: With the DXY falling below 98, approaching multi-year lows, Craig discusses how this weakness acts as a tailwind for precious metals and broader commodities. He outlines the inverse tick-for-tick trading patterns between the dollar and gold, especially during key Fed events. Silver COT Warning Signs: Despite silver pushing above $36, Craig flags caution based on the CoT (Commitment of Traders) report positioning. Speculative interest may be topping out, creating the potential for a pullback tied to July contract expirations and positioning rollovers. Gold/Silver Ratio Outlook: While some traders use the gold-silver ratio to toggle exposure, Craig remains focused on fundamental and technical price action. He wouldn't be surprised to see the ratio revisit 100 before silver regains momentum. Silver Stocks Divergence: We analyze the recent disconnect between silver prices and the underperformance of silver equities like SIL and SILJ, even amid record volume. Craig discusses how shallow market depth and investor skepticism may still be suppressing upside despite stronger silver pricing. Gold's Long-Term Drivers: With central banks continuing to add to gold reserves and global debt exploding (e.g., $116,000/second added to U.S. debt in May alone), Craig emphasizes that fiat devaluation remains the core bullish case for gold in the years ahead. Visit https://www.tfmetalsreport.com for more of Craig's insights Drop your questions in the comments and subscribe for future updates.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the value proposition that caught his attention in the news from 3 earlier-stage gold and copper exploration companies.  These explorers are going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.    >> The companies we discussed in the interview are:   Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF)   * 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.  Additionally, Shad is a shareholder of all 3 companies at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Doc Jones, private activist resource investor and influencer on Ceo.ca and X/Twitter, joins us for his outlook on the precious metals, critical minerals, and energy sector and the related resource stocks he is heavily positioned in his portfolio, that have had significant newsflow in the recent past towards development of their projects.   We start off getting the key macroeconomic factors that have him bullish on both gold and silver, and why he believes their pricing moves to the upside over this year can be maintained and continue to reach higher levels.   We review the newsflow and recent milestones from Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF), and the anticipated value drivers for 2025 in this gold exploration and development company operating in Guyana. He focuses in on drilling at both Wenot and Gilt Creek, and the updated resource estimate and combined economic study as coming catalysts. With regards to silver and gold exposure, he has gotten positioned in Excellon Resources Inc. (TSXV: EXN) (OTC: EXNRF) due to their recent acquisition of the past producing Mallay Silver Mine in Peru, to move it back into production. The Company is also advancing a portfolio of gold, silver and base metals assets including the Kilgore Project, an advanced gold exploration project in Idaho that has compelling economics at today's PM prices.   Shifting over to critical minerals, Doc Jones highlights his long-standing interest and key portfolio position in Magna Mining (TSX.V: NICU) (OTCQB: MGMNF), which has now moved into copper production, with solid nickel and PGM co-credits at their McCreedy West Mine in Sudbury, Ontario.  Another key portfolio position in the critical minerals with copper, zinc, gold, and silver is Emerita Resources (TSX.V: EMO) (OTCQB: EMOTF).  The company has had continued encouraging polymetallic metallurgical results and successful exploration expanding in mineralization in multiple areas at their flagship IBW Project. He also outlined that the pending legal proceedings on the Aznalcollar zinc-lead-silver Project as another potential value driver.   Wrapping up we shifted over to traditional energy getting his outlook on both oil and natural gas, but why he is favoring investing in Canadian nat gas companies like Peyto Exploration & Development Corp. (TSX: PEY) and Birchcliff Energy Ltd. (TSX: BIR) due to the uptick in underlying natural gas prices he is anticipating in the year to come.   He goes on to highlight the benefits of picking up energy stocks that pay investors good dividends while they are waiting for higher eventual equity prices.     *In full disclosure, Doc Jones holds a position in these companies discussed at the time of this recording, but is not compensated by any company to market them.  These are simply his views and opinions as to why he likes investing in them, but this is not investment advice.      Click here to follow Doc Jones on Ceo.ca   Click here to follow Doc Jones on X/Twitter

This weekend's KE Report show features a compelling doubleheader: Jeff Christian of CPM Group breaks down silver's explosive breakout and the rotation into overlooked metals like platinum and palladium, while Dana Lyons of Lyons Share Pro shares why the S&P is poised for new highs and where the strongest opportunities lie across global markets and commodities. 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 - Jeff Christian, Managing Partner at the CPM Group, kicks off this weekend's show to break down the recent breakout in silver, platinum, and palladium, and whether the precious metals rally is sustainable. He discusses the rotation of investor capital from gold into other metals, the technical and fundamental drivers behind silver's surge, and why sustained $40 silver and higher gold prices are realistic heading into 2026 amid global political and economic uncertainty. Click here to visit the CPM Group website to learn more about the firm.    Segment 3 & 4 - Dana Lyons, fund manager and editor of The Lyons Share Pro, wraps up the Weekend Show to discuss his technical outlook on global equity markets and commodities. He explains why his models point to a likely breakout to new all-time highs in U.S. markets, highlights growing relative strength in sectors like industrials and financials, and outlines why Europe and select international markets may offer even better opportunities right now. He also weighs in on commodities, noting silver and uranium as standout performers, and analyzes ETF trends in the mining space. Click here to visit the Lyons Share Pro website and learn more about Dana's investment services.   I'm hosting a webinar next Thursday, June 19th @ 12pm PT (3pm ET), featuring Volt Lithium! Alex Wylie, CEO, Co‑Founder & President will be presenting and taking all your questions. The company has an innovative “bolt-on” solution turning oil & gas produced water into lithium and critical minerals. Click here to register for free!  

Christopher Aaron, Founder of iGold Advisor, Elite Private Placements, and Senior Editor at the Gold Eagle website, joins me to review his medium to longer-term technical outlook on gold, GDX, silver, SIL, and the junior mining stocks by way of the TSX Venture exchange.   This is a longer-format video where we really dive into the technical analysis setups in the precious metals sector, and he lays out the historical case and patterns to why we haven't seen the really big moves yet. The setups are in place for potential life-changing gains over the next 1-2 years in the junior gold and silver stocks.   Christopher lays out the technical case for why sector sentiment has been lagging for years, compared to prior cycles, and refreshingly, it has nothing to do with margins, dilution, or competing moves higher in the US equities.  He points to a number of recent breakouts or emerging breakouts on many charts that will start to attract more investor momentum over the next 12-18 months.  Therefore, he points out that this is not time to ring the register on PM trades and that as the metals and equities work through their near-term resistance levels, that we'll see much higher prices that will surprise even the PM bulls.     Click here to visit the iGold Advisor website to follow Christopher's analysis and private placement services . Click here to follow Christopher's writing over at the Gold Eagle website

Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQB: SCZMF), joins me to recap the key record Q1 2025 financial results along with a comprehensive review of all operations.  Santacruz Silver operates 1 mine in Mexico, and 5 mines, 3 mills, and an ore feed-sourcing and metals trading business in Bolivia, as an emerging mid-tier silver and base metals producer.   Q1 2025 Highlights   Revenues of $70.3 million, a 34% increase year-over-year. Gross Profit of $27.9 million, a 6882% increase year-over-year. Net Income of $9.5 million, a 93% decrease year-over-year1. Adjusted EBITDA of $27.5 million, a 2202% increase year-over-year. Cash and cash equivalents of $32.5 million, a 706% increase year-over-year. Working Capital of $51.7 million, a 7530% increase year-over-year. Cash cost per silver equivalent ounce sold ($/oz) of $17.84, a 16% decrease year-over-year. AISC per silver equivalent ounce sold of $22.34, a 8% decrease year-over-year. Silver Equivalent Ounces produced of 3,688,129, a 5% decrease year-over-year.    Q1 2025 Production Highlights:   Silver Equivalent Production: 3,688,129 silver equivalent ounces Silver Production: 1,590,063 ounces Zinc Production: 20,719 tonnes Lead Production: 2,718 tonnes Copper Production: 279 tonnes Underground Development: 10,135 meters   Arturo discussed the very strong revenues, gross profit, cash and cash equivalents,  adjusted EBITDA, and working capital up substantial in year-over-year metrics. In addition their cash costs and All-In Sustaining Costs (AISC) numbers came down in a meaningful way due to a combination of factors from mine optimization work paying off, to favorable currency exchange rates, and the positive impact of paying down the Glencore loan early.    Additionally, there was better setup with San Lucas ore-feeding business absorbing the Reserva Mine ore to blend with ore from the small-scale miners, and with it not being blended with Tres Amigos and CQCQT. This made Caballo Blanco much more efficient with better metals recoveries, as well as the San Lucas operations improving efficiencies.   The water issues at Bolivar were limited to just this quarter and resolved and the reason Zimapan was higher cost this quarter was because they just bought some new equipment to optimize operations (like 3 new Scoop trams), and to take advantage of the higher-grade 960 Level.  Those were both one-off effects taken in Q1, but resolved for Q2 and moving forward for the balance of the year.   Wrapping up we reviewed the plan in place to exercise its Acceleration Option to satisfy the Base Purchase Price owed to Glencore, by making payments on a schedule that aligns the accelerated timing whilst meeting the Company's commitment to financial discipline and a strong balance sheet. The plan's primary objective is to save the Company US$40 million. The Company successfully completed payments to Glencore of USD$17.5 million by the end of Q1, and will be paying the remaining of USD$22.5 million by October 31, 2025.     If you have any follow up questions for Arturo regarding Santacruz Silver, then please email them to me Shad@kereport.com.   In full disclosure, Shad is a shareholder of Santacruz Silver 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 Santacruz Silver

Joel Elconin, Co-Host of the PreMarket Prep show and founder of the Stock Trader Network, returns to share his seasoned perspective on a volatile end to the week. Despite overnight geopolitical shocks - including missile strikes into Iran - the U.S. markets staged an impressive rebound, once again showcasing their resilience and buy-the-dip mentality. Joel breaks down the technicals behind this Friday's rebound, why he sees this kind of trading day as more bullish than a straight-up rally, and how investors are reacting to the ever-changing headlines. Key discussion topics: Why Joel sees today's recovery as a stronger bullish signal than typical rally days The importance of the 6,050 resistance zone in the S&P and what it means heading into next week “TACO trade” (Trump Always Chickens Out) and market reactions to tariff uncertainty Diminishing impact of economic data on market direction Sector rotation: value stocks, defense names, solar, oil, and biotechs coming back into focus Technical levels to watch in small caps (IWM) and oil (USO), and gold's push back toward all-time highs Global markets outperforming the U.S. in some cases - why Joel is cautious at current levels ➡️ Visit PreMarket Prep and Stock Trader Network for more of Joel's insights.

In this KE Report company update, Simon Ridgeway, Founder and CEO of Rackla Metals (TSX.V:RAK - FSE:RLH1), provides a full overview of the company's newest exploration focus: the Grad Property in the Northwest Territories. Following a grassroots discovery in 2024, Rackla is now mobilizing for a 4,000–5,000 meter drill program targeting what may be a large-scale, intrusive-related gold system within the Tombstone Gold Belt. Drilling is set to begin in early July.

Robert Bergmann, CEO and Director of Relevant Gold Corp. (TSXV:RGC) (OTCQB:RGCCF), joins us to introduce this gold exploration company focused on the acquisition, exploration, discovery, and development of district-scale gold projects, and is applying an Abitibi-style geological modeling to projects in the state of Wyoming.  Their land concessions cover both the Bradley Peak Camp and South Pass Camp with 5 key projects and 17 targets to explore for orogenic gold.   The Company just announced on June 11th that it has received both State and Federal permit approvals for a fully-funded 5,000-meter drill program on the Apex target at the Bradley Peak Gold Camp in central Wyoming. This drill campaign is the first ever at the Apex Target and is integral to the Company's 2025 exploration program. Mobilization has begun and drilling is expected to commence soon.   Robert outlines why the team is so interested in this Apex Target from an orogenic gold perspective, and provides some context on their overall Bradley Peak Gold Camp.   Then we shift over to their South Pass Camp, which has 4 Projects: Golden Buffalo, Lewiston, Shield-Carissa, and Windy Flats. The Company did 2 prior drill programs at the Lewiston Project, and drilling in at the Golden Buffalo project the prior 2 years, and will be doing more mapping, sampling, and surveying of these properties this year to vector in on more targets for future drilling.   Wrapping up we cover the geological experience and business acumen of the management team and board, key strategic shareholders like Kinross, William Bollinger, and Rob McEwen, and the capital structure.  The company has ~ $8 million in the treasury to carry out this drill program and execute on future work initiatives.   If you have any questions for Robert regarding Relevant Gold, then please email us at Fleck@kereport.com or Shad@kereport.com.   Click here to follow the latest news on Relevant Gold

Alex Langer, President and CEO of Sierra Madre Gold And Silver (TSXV: SM) (OTCQX: SMDRF), joins me to review the Q1 2025 operations and financial metrics showing profitability from the very first quarter of commercial production at the La Guitarra Mine and processing plant, in Mexico.  We also look a number of future development and exploration value drivers for the Company across their district-scale land package.    Q1 2025 Highlights   Net Revenues: Silver revenues for the quarter totalled $2.34 million ($31.13 per ounce) and gold revenues totalled $2.89 million ($2,828 per ounce). The Company sold 75,137 ounces of silver ("Ag") and 1,022 ounces of gold ("Au") or 165,093 silver equivalent ("AgEq") ounces, based on the ratio of Au and Ag prices realized for each shipment in the period. Cost of sales was $3.6 million, approximately $21.84 per AgEq ounce sold. All-in-sustaining costs per AgEq ounce sold of $28.98 per ounce, compared to $32.18 in Q4 2024. Gross Profit was $1.2 million. Cash provided by operating activities was $535,000. Current assets, including cash, totaled $4.3 million at March 31, 2025, up from $3.5 million in Q4 2024.   Q1 2025 Operational Details   Mine Operations: Milled 39,167 tonnes of material, silver recoveries averaged 79.21% while gold recoveries averaged 78.77%. Production: Produced 70,176 ounces of silver and 1,001 ounces of gold. Coloso Mining: On April 29 2025, Sierra Madre announced the start of underground mining at the Coloso mine within the Guitarra Complex. The estimated resource grades at Coloso are significantly higher in both silver and gold compared to the Guitarra mine veins. During the ramp up of Coloso mining, various blending percentages for mill feed will be tested to ascertain best recovery procedures.     Alex then lays out the envisioned plan is to run the mill at 500 tpd most of next year, at the slated commercial production throughput. However, he then also shares the pathway forward where a modest amount of equipment can be purchased and installed to grow the mill throughput to 650 TPD in 2026, and then all the way up to 1,000+ TPD by the end of 2027.  In addition to the potential of growth through production, we also discuss the leverage that a silver and gold producer like Sierra Madre will have to the potential of rising metals prices in 2025 and 2026.   Next we shift over into the larger growth vision of the company, as it will turn it's it focus to exploring this district scale land package the end of next year, funded through organically generated revenues.  The property hosts 8 different past-producing mines, with the first 2 priorities being to explore around the El Rincon and Mina de Agua mines.   Additionally, there is a non-compliant 17 million ounce historic resource at the Nazareno Mine, and also solid underground infrastructure at the nearby high-grade Coloso Mine, that First Majestic had put quite a bit of sunk cost into already. Moving the Coloso Mine back into production will be another near-term area of future expansion, which could see supplementary production complimenting the current production coming out of La Guitarra.     If you have any questions for Alex regarding Sierra Madre Gold and Silver, then please email them to me at either Shad@kereport.com.   In full disclosure, Shad is a shareholder of Sierra Madre Gold & Silver at the time of this recording.   Click here to follow along with the latest news from Sierra Madre Gold & Silver

In this KE Report company update, we catch up with Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF), to dive into the company's latest developments across all divisions - graphene production, G® Lubricant, batteries, and THERMAL-XR®.   Key topics include: Second Generation Graphene Plant: Early works are underway on a next-gen production facility that will boost graphene output 20x - up to 10 tonnes annually using the same inputs. This modular, scalable design could enable global rollout, with full commissioning targeted by mid-2026. Cost Efficiency and Environmental Advantage: The Gen 2 process is expected to significantly lower graphene production costs - potentially below the cost of mining graphite. G® Lubricant Commercialization: New independent engine tests show a 10% fuel saving and 33% drop in emissions. Sales have launched globally via g-lubricant.com, with distributor discussions underway. U.S. sales are pending EPA approval. Battery Division Progress: GMG is working with a top-tier U.S. battery innovation center to streamline pouch cell development. Craig outlines a timeline for customer testing and commercial readiness. THERMAL-XR® + Strategic Partners: While EPA approval is still needed for the U.S., interest remains strong - particularly from data centers and industrial HVAC users. New packaging and website updates are helping broaden access. OEM partnerships and licensing discussions are also discussed. For follow-up questions, email fleck@kereport.com. Stay tuned for another GMG update in about a month!   Click here to visit the GMG website to learn more about the Company.

Taj Singh, CEO, and Adam Cegielski, President of First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF), join me to review their recent analyst site visit, the acquisition of EMX Royalty's Nordic Business Unit, the pending drill assays from the Aida Target at the Paubäcken Project,  drilling commencing this summer at the Nippas Target at the Storjuktan, and then the Harpsund Target at Paubäcken, all located on their 100% owned property along the Gold Line Belt of Sweden.   We start off with Adam recapping the key takeaways from their analyst and strategic shareholders site visit to see the flagship Barsele Project in a Joint Venture with Agnico Eagle, and then out to see the ongoing drilling at the Aida Target at Paubäcken.    This led into a discussion about the growing institutional and analyst coverage of the company, and the keen interest from investors in the exploration upside along the Gold Line Belt, as well as the value already underpinning the company at the 2.4 million ounces of gold delineated at Barsele.   Next, Taj walks us through a few key drilling targets located at their Paubäcken Project, getting the exploration work this year.   We touch upon the high-priority Aida Target (which is awaiting assays in the near-term), the Harpsund target which has shown promising Base-of-Till (BOT) drilling, surface till sampling, and geophysics that is gearing up to be drilled this summer, and the further ongoing targeting work at the Brokojan target.   Pivoting over to their Storjuktan Project, there have been some exciting developments at five new regional targets with gold-in-till anomalies matching geophysical data in both the north and south, with the Bråna target even showing outcropping mineralization and becoming a new target of interest for this year.  Nippas is still the most derisked target at Storjuktan, and drilling is anticipated to be starting imminently in this next phase of the 25,000 meter exploration program. Wrapping up Adam lays out the case for even more institutional coverage to be announced in the months to come, the strong financial position the company is in with over $7million still in the treasury for their ongoing exploration program, and the growing interest on Sweden as a jurisdiction for gold development projects.     If you have any questions for Taj or Adam, regarding First Nordic Metals, then please email them to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of First Nordic Metals 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 First Nordic Metals

In this KE Report company update, we're joined by Tim Clark, President and CEO of Fury Gold Mines, and Bryan Atkinson, SVP of Exploration, to unpack a busy year ahead. The conversation starts with a key milestone: Agnico Eagle's $4.3 million strategic investment in Fury, signaling growing institutional confidence and a renewed focus on the Committee Bay Gold Project in Nunavut. Tim outlines why the structure of this deal, an equity stake rather than a project specific investment, preserves upside while aligning Fury with a major regional player. Bryan then shares details on Fury's upcoming 5,000-meter drill program at Committee Bay, marking the first drilling since 2021. The program targets high-grade extensions at Three Bluffs and brand-new regional shear zones with strong discovery potential.   The update continues with Fury's growing Quebec portfolio, including: Sakami Project - Drilling begins imminently, targeting confirmation and expansion of a broad gold zone. Eau Claire Project - High-grade, road-accessible gold deposit with existing M&I resources and room to grow. Comments on strategic positioning around the Éléonore Mine, now owned by Dhilmar, and what this means for consolidation prospects. As a recap… Drills mobilizing in 10 days. Three major programs planned. High-grade targets across the board.   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.

Dr. Robert Quartermain, Co-Chairman, Director and CEO of Dakota Gold (NYSE American: DC), joined me for an update on their Richmond Hill Project and Maitland Gold Project, both located in the historic Homestake District of South Dakota, near existing mining infrastructure.   The company is advancing its Richmond Hill project toward eventual surface heap leach gold operation as soon as 2029, and expanding the high-grade gold mineralization discovered at the Maitland Gold Project toward an initial resource estimate.   We start having Robert share his background in the industry, as he was previously the Executive Chairman of Pretium Resources Inc., which he founded in October 2010. Prior to Pretium, he was President and Chief Executive Officer of Silver Standard Resources Inc. (now SSR Mining Inc.) for 25 years from 1985-2010. Not only does he have a wealth of experience in developing and constructing producing mines, but he has assembled a solid management team and board filled with industry veterans that have worked in either the Homestake Mine, before it closed down, or the currently producing nearby Wharf Mine, operated by Coeur Mining.   Richmond Hill is one of the largest undeveloped oxide gold resources in the United States being advanced by a junior mining company, with over 6 million ounces of gold and over 60 million ounces of silver moving along the pathway of development into heap leach production as soon as 2029. Principle Projects on Private Land which equates to a positive attribute for efficient permitting with State and County organizations.   S-K 1300 Mineral Resource (Heap Leachable): 65 M oz M&I Gold, 2.61 M oz Inferred Gold 1 M oz M&I Silver, 22.8 M oz Inferred Silver   Dakota Gold has engaged the current consulting groups based on their capabilities to deliver an Initial Assessment with Cash Flow (IACF) in mid-2025 (similar to a PEA).  This economic study will be based on a 30,000 ton per day crushing circuit, and further the project towards ultimate production. The Company continues Feasibility planning with M3 as the overall Study Manager as well as the lead for processing, while RESPEC will manage the mining and environmental aspects   There are currently two drill rigs turning at Richmond Hill. In 2025, the Company expects to drill ~80,000 feet (24,384 meters) using a combination of Reverse Circulation and Core drilling. The primary focus of the program is to collect metallurgical samples for the Feasibility Study, infill, and expansion resource drilling in the northeast corner of the Project area. This area is expected to be mined at the beginning of the mine plan and is higher-grade than the overall deposit.   At the Maitland Gold Project the Company is currently assessing the exploration data collected to date from the JB Gold Zone and the Unionville Zone with the intent of outlining an initial inferred gold resource. The work is expected to be completed in the fall of 2025. To date the JB Gold Zone has encountered a number of high-grade intersections which average 10.76 g/t Au over 4.0 meters.   With the recent financing announced March 20, 2025, the Company currently has a cash balance of $47 million as noted in the filed 10Q as at March 31, 2025, and is fully financed through the IACF and the subsequent completion of its Feasibility Study on the Project.   If you have any questions for Bob Quartermain regarding Dakota Gold, then please email those in to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Dakota Gold 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 Dakota Gold

Jamie Levy, President and CEO of Generation Mining Limited (TSX:GENM, OTCQB: GENMF), joins me for an update on their fully-permitted and shovel-ready Marathon Copper-Palladium Project in Northwestern  Ontario.  We talk resources, key metrics from the Feasibility Study, options for the upcoming mine financing, and the potential for funding support from the province of Ontario.   We start off talking about he robust resources at Marathon with 1.1 billion lbs of copper, ~4 million ounces of palladium, and 1.3 million ounces of platinum, with some additional co-credits from gold and silver.   Jamie highlights the importance of developing domestic sources of these strategic metals in Canada, and the interest from the provincial and federal governments on expediting the construction of new mines and sources of supply in country.   The Feasibility Study estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals.    We discuss the capital stack coming together starting off with the Wheaton Precious Metals stream, which consisted of an early deposit of $40 million (received) and then an upcoming $200M construction payment for 100% gold and 22% platinum production. Endeavour Financing has also helped set up a mandate letter for banking syndicate of Export Development Canada, ING Capital LLC and Societe Generale to arrange a Senior Secured Project Finance Facility of up to $540M. Conditional on final diligence and debt capacity.  Additionally, there are ongoing discussions for $200M of deeply subordinated debt, and the potential for government grants.   Wrapping up we discussed the experience of the team in developing and building prior mines, and why they'd prefer to build Marathon internally, but are still open to the options of JV partners or a project scale if it was the best value creation for shareholders.     If you have any questions for Jamie regarding Generation Mining, then please email those in to me at Shad@kereport.com.    Click here to follow the latest news from Generation Mining

Astra Exploration (TSX.V:ASTR - OTCQB:ATEPF - FSE:S3W) CEO Brian Miller returns to share assay results from the company's initial drill program at the La Manchuria gold-silver project in Argentina. Since our last conversation in February, Astra has completed a 2,468-meter, 11-hole program targeting extensions and parallel structures in the project's main zone. The market took notice after the company reported three out of four holes that returned high-grade intercepts.   Brian breaks down: Key results from the first four holes and why 108A stands out The structural complexity and vein density of the system, including up to 20 individual vein structures in one section How Astra is stepping beyond historic drilling to expand the known mineralized footprint Expectations for remaining assays and timing for the next drill program Current treasury position (~C$2M) and next steps for drilling once field conditions improve With a more bullish gold market backdrop, strong results like these are finally being rewarded. Astra is positioned for a potentially transformative year. Visit Astra's website to review the latest news releases. Email questions to follow up with Brian on the next update - Fleck@kereport.com

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition and key takeaways from the recent site visit that he took to see the First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF) projects along the Gold Line Belt of Sweden.   We start off getting some of the nuances around using the collective wisdom of other institutional site visit attendees and various members of the First Nordic team on-site to get a better understanding of the various projects, key targets identified, exploration work underway, and what criteria other investors and analysts were weighting more heavily.   The conversation then turned to the underlying value in the 2.4 million ounces of gold defined so far in the Barsele Project, in a JV with Agnico Eagle.   Erik outlines that some member of Agnico Eagle were present at the site visit and outlined 7 drill targets they'd be going after for this year's exploration program.   We also discussed the amount of drilling focus that the Aida target has received at the Paubäcken Project, with many assays pending release from the lab, and some showing visible gold. When Erik was there the team finished up drill hole #38.   The exploration team at First Nordic has also done a lot of targeting work for upcoming drilling at the Harpsund target, and more targeting underway at the Brokojan target.   The Storjuktan Project is also seeing drilling get underway at the Nippas target, which has had a lot of targeting work completed thus far.  Additionally, there are several other regional targets at Storjuktan that different geologists and analysts were animated by, particularly Bråna to the south, due to mineralization that is outcropping at surface.   We wrap up discussing the financial health of the company to continue the ongoing 25,000 meter drill program across the Gold Line Belt.      * 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  

Dave Erfle, founder and editor of Junior Miner Junky, joins us for a timely update on the silver sector, following a major technical breakout in silver above the long-standing $35 resistance level. Silver is now trading above $36, yet many silver stocks are still lagging, presenting both a potential opportunity and a challenge for investor sentiment. In this interview, we break down the signals from the market and silver equities. Key themes discussed: Why silver's breakout wasn't a surprise to seasoned silver stock investors Volume and price action in SIL and SILJ - and what it suggests Why many silver stocks are still undervalued, even after the breakout The importance of a disciplined selling strategy in bull markets Where Dave sees the most value: advanced-stage juniors with de-risked projects and upcoming PEA catalysts We also revisit past silver runs, including the 2020-2021 silver squeeze, and compare current valuations. Dave shares what indicators he's watching next, including inflation data, the U.S. dollar, and how much FOMO sidelined investors can handle before jumping back in.

Craig Hemke, founder and editor of TF Metals Report, returns to share insights into the continued strength across precious metals markets, with a particular focus on the outperformance of silver and junior mining stocks. While gold remains rangebound around $3,300, silver has surged past $35/oz and now $37/oz , marking a breakout many investors have been waiting for. Craig highlights the powerful momentum dynamic in silver, where price strength feeds investor interest, accelerating further gains. This move is also showing up in key silver equities like the SILJ ETF, which has reclaimed levels not seen since 2022.   Key discussion themes include: The self-reinforcing momentum in silver and how it mirrors past speculative cycles ETF and equity signals: SILJ surpassing key resistance, signaling investor confidence Rotation into silver, platinum, palladium, and copper as gold consolidates The impact of central bank demand and a sharply weaker U.S. dollar on gold and silver Upcoming catalysts: CPI/PPI inflation data, FOMC meeting and dot plot, and option expiries in metals and mining stocks Craig also outlines how institutional buy-side expectations are slowly catching up to the new price environment and how that could impact analyst price targets across the mining sector. Click here to visit Craig's website - TF Metals Report

Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQX: MGMNF), joins me for a review of Q1 financials and operations update at the 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.  There are currently 4 drill rigs turning between the 2 properties.   We kick off the conversation with a review of Q1 2025 financials and how production and development has been going over the last few months at their McCreedy West Copper Mine, since the company took over the operations from KGHM International on February 28, 2025. The quarter included 1 month of production from McCreedy West coming in at 790,000 lbs of copper equivalent payable in March; and with the total ore processed being 20,388 tonnes at an average grade of 3.01% copper equivalent.  The end of Q1 cash balance for the Company was $38.3 million.   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.  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. 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.      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 market focused Daily Editorial, we welcome back TG Watkins, Director of Stocks at Simpler Trading and editor of the Profit Pilot website and YouTube channel. TG joins us every few weeks to provide a data-driven look at key trends in markets and equities, based on what he's seeing in his charts and trading room.   TG breaks down several important themes playing out right now: S&P 500 grinding above 6,000, despite expectations of a pullback Rotation underway: Leaders like Nvidia and Broadcom are stalling, while names like Qualcomm, ARM, and Micron catch a bid Small caps are playing catch-up, with the Russell 2000 (IWM) outperforming large caps in recent days Gold consolidating, but gold equities (GDX, GDXJ) and silver stocks (SIL) show technical strength Copper and silver may be flashing signs of broader economic growth Nuclear stocks still a buy: TG remains bullish on the small modular reactor trend, with names like Oklo and NuScale holding up after big runs   Click here to visit Profit Pilot to follow TG's trades and market videos.

In this KE Report company update, we welcome back Jeff Swinoga, President and CEO of Exploits Discovery (CSE:NFLD - OCTQB:NFLDF - FSE:634), to discuss the company's transformational pivot toward Quebec and Ontario gold projects, while still maintaining a presence in Newfoundland. Exploits Discovery has just signed an option agreement with Cartier Resources to acquire three gold projects in Quebec - Benoist, Fenton, and Wilson - which collectively host approximately 680,000 ounces of historic gold resources. This comes on the heels of a recent Ontario acquisition at the Hawkins Project, signaling a major shift in strategic focus and setting the stage for potential resource growth and re-rating.   Key Highlights from the Interview: Strategic entry into Quebec with flexible terms on the Cartier option agreement Initial exploration plans at Benoist, where historic intercepts include 21 g/t Au over 5.6m and 26 g/t Au over 4.1m Plans for dual fall drill programs at both Benoist and Hawkins following permit approvals Continued monitoring of Newfoundland properties, with the potential to re-allocate exploration capital based on discovery upside Insight on potential partnerships, investor interest from Quebec, and valuation upside based on current EV/ounce metrics

In this company update, we welcome back Eric Roth, President and CEO of Capella Minerals (TSX.V:CMIL - OTCQB:CMILF), to discuss a major new exploration agreement advancing their gold and copper projects in Norway and Finland. Capella has signed a multi-stage earn-in deal with Turkish gold producer Tümad Madencilik, a company with 200,000 ounces of annual gold production and ambitions to expand internationally. The agreement could see up to US$12 million in exploration expenditures across Capella's Scandinavian assets, without any corporate-level dilution.   Eric explains: How the relationship with Tümad developed from his previous success with Mariana Resources and the Hot Maden discovery. The three-stage earn-in structure, with Tumad able to earn up to 51% by funding exploration work. Immediate exploration plans for summer 2025, including drill programs at the Hessjøgruva copper project in Norway and the gold-copper targets in Finland. The flexibility for potential future acquisitions and Tümad's appetite for additional projects. If you have any follow up questions for Eric please email me at Fleck@kereport.com.   Click here to visit the Capella Minerals website to learn more about the Company.

In this KE Report company update, we welcome back Garrett Ainsworth, President and CEO of District Metals (TSX.V:DMX - OTCQB:DMXCF - Nasdaq First North: DMXSE SDB), for a wide-ranging discussion covering recent exploration updates, project strategy, and corporate developments. District is gaining strong investor attention, with shares rallying alongside broader uranium sector momentum. Garrett walks us through the launch of a Mobile MT airborne geophysical survey at the company's flagship Viken uranium-vanadium project - the second largest undeveloped uranium resource globally. The survey is designed to improve geological understanding and guide future drill targeting, while potentially enabling the company to optimize and expand its land package. Garrett also discusses: Plans for a smaller-scale, quarry-style mining scenario to enhance economics and community support once Sweden's uranium moratorium is lifted (expected January 2026) The sale of the non-core Bakar copper asset on Vancouver Island and rationale behind the exit Upcoming airborne work across District's broader uranium portfolio in Sweden, including detailed radiometric and magnetic drone surveys Insider confidence, shown by recent option exercises, and why the team is holding firm despite the stock's rally 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.

This Weekend's Show dives deep into two of the most critical commodity narratives shaping the investment landscape. In the first half, Brien Lundin (Gold Newsletter) breaks down why junior gold and silver stocks are finally catching fire. In the second half, Josef Schachter (Schachter Energy Report) outlines why energy equities could present a buying opportunity, even as oil trades under pressure. 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 and 2 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, joins the KE Report to discuss the strengthening bull market in gold and silver, highlighting the breakout in silver above $35 and the surge in junior mining stocks. He emphasizes the growing participation of generalist investors, the potential for early-stage production strategies, and why staying positioned in quality juniors is key as institutional money flows into the sector. Click here to learn more about the New Orleans Investment Conference on November 2-5.    Segment 3 & 4 - Joseph Schachter, founder of the Schachter Energy Report, shares his cautious near-term outlook for oil and natural gas due to high inventories and weak demand, but maintains a bullish stance for Q4 driven by summer demand, geopolitical supply disruptions, and rising LNG exports. He also highlights dividend-paying energy stocks, M&A activity, and service companies as key areas for investor focus. Click here to learn more about The Schachter Energy Report   Please remember to subscribe and leave a review in your podcast player!  

Fred Davidson, President and CEO of Impact Silver (TSX.V:IPT – OTCQB:ISVLF), joins me to outline the key takeaways from the Q1 2025 financial and operations, and provides an update on the current production and exploration upside at the Zacualpan Silver-Gold District, as well as the Plomosas Zinc-Lead-Silver Mine in Chihuahua, Mexico.   The Company reported revenue of $10.7 million for Q1 2025, more than double the $5.3 million reported in Q1 2024. This significant increase was driven by the commencement of new production at the Plomosas mine and higher commodity prices. EBITDA for Q1 2025 was $1.0 million, marking a strong recovery from the negative $3.6 million in Q1 2024. Net loss for the quarter was $0.1 million, a notable improvement compared to the net loss of $4.4 million in the same period last year. This reflects a substantial year-over-year improvement, as inflationary pressures on costs eased and commodity prices remained strong, supported by a higher aggregate production volume. At quarter-end, the Company had $6.6 million in cash and no structured debt.   Fred also unpacked that in 2024, the Company revised its accounting policies for early-stage exploration. This change has been applied retrospectively, resulting in $0.8 million in exploration costs being expensed in Q1 2025 and $1.2 million in Q1 2024. Subsequent to quarter-end, the Company announced an equity financing of up to $5.0 million.   With regards to all the exploration initiatives for this year, we kick things off with opportunities to keep exploring deeper underground for more high-grade zinc, lead, and silver at the Plomosas Mine.  Fred also points out that there is a new area of interest nearby that is more endowed with gold and copper mineralization, and that will be getting some upcoming surface drilling.   Shifting over to the Zacualpan Silver-Gold District the Company has 4 underground mines and 1 open-pit mine all feeding into the Guadalupe processing plant.  Fred and I review exploration targets at the new Kena Discovery at the Guadalupe Mine, the San Ramon Deeps and San Ramon South area at the San Ramon Mine, both a gold-rich and a silver-rich vein respectively at the Alacran Mine, some silver targets like San Antonio at the Mina Grande Mine, and a few target like Carlos Pacheco and Chapanial at the Valley de Oro exploration area.    We wrap up having Fred outline that the purpose of the recent $5million capital raise is to accelerate all this exploration efforts at both district-scale properties, looking for areas to exploit with mining, and eventually growth the production profile.     If you have any follow up questions for Fred about Impact Silver, then please email me at  Shad@kereport.com.   In full disclosure, Shad is a shareholder of Impact Silver at the time of this recording.   Click here to visit the Impact Silver website and read over the recent news out of the Company.

In this KE Report Daily Editorial, we welcome back Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market blog, for a comprehensive breakdown of the U.S. jobs report, Fed policy trajectory, global central bank trends, and FX market implications. We kick off with May's mixed U.S. employment report: headline job growth surprised to the upside, but revisions and the household survey painted a weaker picture. Marc explains how the Fed will likely interpret this as confirmation to remain patient, with expectations for rate cuts shifting to Q4 and markets increasingly skeptical about more than one cut in 2025. Marc also discusses: Why the resilient U.S. labor market and gradual disinflation keep the Fed sidelined How ongoing tariff announcements are distorting GDP and trade data What to watch in the Fed's balance sheet strategy and whether QT will continue A global view on divergent central bank cycles, FX implications, and why Marc remains medium-term bearish on the U.S. dollar The role of liquidity and uncertainty in driving volatile but not collapsing markets As we near the midpoint of 2025, Marc outlines the key data points and global risks that could move the needle on Fed policy, including inflation trends, unemployment, and fiscal disruptions from trade policies.

In this KE Report company update, we're joined by Bart Jaworski, CEO of Group Eleven Resources (TSX.V: ZNG - OTC: GRLVF - FRA: 3GE), a zinc, copper, and silver explorer operating in Ireland. The company has recently captured market attention with a breakthrough drill result at the Ballywire Discovery on the PG West Project, announced on May 8th. Key highlights from the discussion include: High-grade discovery: 12 meters of 2.3% copper and 560 g/t silver, including 6.4 meters grading 3.72% copper and 838 g/t silver. The copper-silver intercept lies beneath a known zinc-lead-silver horizon, suggesting a dual-layer “layer cake” system. Ongoing drilling with three rigs testing both lateral extensions and deeper copper-silver targets across a six-kilometer gravity anomaly trend. Potential for critical mineral designation under the EU's Critical Raw Materials Act due to antimony and germanium credits. A well-funded exploration program with ~$3.5 million in the treasury and potential upside from in-the-money warrants. This discovery could significantly broaden Group Eleven's appeal to copper and silver investors, especially with copper near $5/lb and silver breaking out. Bart also outlines how further success could unlock critical metals funding pathways in Europe and strengthen the company's long-term development strategy.   Visit Group Eleven's website for full technical reports and the corporate presentation.

David Gower, CEO and Chairman of Emerita Resources (TSX.V: EMO) (OTCQB: EMOTF), joins me to outline the key metrics and takeaways from the technical report on the updated Mineral Resource Estimate, along with improved gold recoveries from recent metallurgical testing at the wholly owned polymetallic Iberian West Project (IBW), located in southern Spain. We also get another update on the legal proceedings at the Aznalcóllar Project later in the conversation.   The Mineral Resource Estimate is based on 105,554 meters of drilling by the Company comprising 299 drill holes and is hosted in three volcanogenic massive sulphide deposits on the project; La Romanera (LR), La Infanta (LI), and the more recently delineated El Cura (EC) deposit (LR=169 holes totaling 70,344m; LI=91 holes totaling 20,975m; EC=39 holes totaling 14,235m). All three deposits remain open for further expansion by future drilling.   The IBW project is now reporting:   A Total Indicated MRE of 18.96 million tonnes grading 2.88% zinc, 1.42% lead, 0.5% copper, 66 g/t silver, and 1.28 g/t gold (8.44% ZnEq or 3.01% CuEq); A Total Inferred MRE of 6.80 million tonnes grading 3.25% zinc 1.50% lead, 0.73% copper, 56.3 g/t silver, and 0.77 g/t gold (8.72% ZnEq or 3.00% CuEq); The updated Mineral Resource Estimate achieves numerous improvements when compared to the previous May 23, 2023 MRE, which include a +35% increase in Total Indicated MRE tonnage and a +44% increase in Total Inferred MRE tonnage; There was also an increased gold metal content within the Total Indicated MRE from 629 Koz to 783 Koz, which is an increase of +154 Koz (+24%) with an increase in contained gold within the Total Inferred Resource from 137 Koz to 168 Koz or an increase of +31 Koz (+23%) gold, respectively;   Then on May 27th the Company announced that the CLEVR Process™ optimization for the La Romanera deposit is a post-flotation stage of metallurgical recovery that is being conducted at DUNDEE Sustainable Technologies' laboratories. A total of 18 optimization tests of the thermal treatment process (pyrolysis and thermal oxidation) were performed during this recent stage of testing.  The latest CLEVR Process™ results indicate an improved gold recovery of 81.5% for a 27% improvement relative to previously reported results (17% increase in gold recovery). This represents an important upgrade relative to the 64.1% gold recovery that was used for its most recent NI 43-101 Mineral Resource Estimate (“MRE”) based on the available results at the time of estimation (see news release March 17, 2025).   El Cura is still being drilled with 4 rigs, and is located in between La Infanta and La Romanera, but more closely resembles La Romanera metallurgically, returning higher gold values along with the base metals. David walks us through how each of these 3 deposit areas plays into the larger development strategy, where the earlier stage mining decline at La Romanera can now drift through El Cura on the way to the development of La Infanta, bringing in El Cura in as a future economic driver much earlier in the mining sequence.  We discuss all the derisking work going on in the background building toward the Pre-Feasibility Study (PFS) later this year, as well as an update on the environmental permits anticipated to come in over the next couple months.   We wrap up with David sharing a bit more from the comments the Company made on June 2nd with respect to the announcement made on May 30, 2025 by the Minister of Energy and Mines of Andalucia, Mr. Jorge Paradela, that the Junta de Andalucia, through his ministry, has granted the exploitation license to Minera Los Frailes (“MLF”) to develop the Aznalcollar project.   Spanish independent legal counsel of Emerita has reassured the Company that this announcement will have no bearing on the outcome of the ongoing criminal trial related to the awarding of the Aznalcollar Public Tender.  We get another update on where things are at in the process within the courts, with the sentencing portion of the legal proceedings having commenced back on March 3rd.  The company is still awaiting further clarity on whether Emerita Resources will be awarded the high-grade polymetallic Aznalcóllar Project later this year, as the only other qualified bidder at the time.   If you have any follow up questions for David regarding Emerita Resources, then email those in to me at  Shad@kereport.com.   Click here to follow the latest news from Emerita Resources

In this company update from TriStar Gold (TSX.V: TSG - OTCQB: TSGZF), President and CEO Nick Appleyard joins me to discuss the company's the closing of a $10 million financing, including a $5 million investment from Eric Sprott - his first position in TriStar. This marks one of the largest financings in company history and signals renewed investor interest in advanced-stage gold developers.   Key topics covered: Use of funds from the financing: Launching an upcoming drill program focused on high-grade step-outs at the Esperança South zone of the Castelo de Sonhos Project in Brazil. Advancing toward feasibility: Timeline and permitting strategy for Tristar's goal of completing a full Feasibility Study in 2026, including additional infill drilling and community engagement. Market sentiment shift: Eric Sprott and several new funds participating in the raise reflect growing interest in the developer space as gold prices remain strong and M&A activity picks up. News flow ahead: Drilling is expected to begin by July, with updates throughout the second half of the year. Nick also shares thoughts on how TriStar is scaling its investor relations efforts to increase visibility and attract strategic interest as momentum builds in the gold sector.   Click here to listen to the prior interview focused on the updated PFS. Click here to visit the TriStar Gold website to learn more about the Company and Project.

In this company update I speak with Sean Kingsley, President and CEO of Gold Hunter Resources (CSE:HUNT - OTCQB:HNTRF - Frank:6RH), to break down the company's recently announced land consolidation and a $2.5M financing. All paving the way for an aggressive 2025 exploration program at the Great Northern Gold Project in Newfoundland.   Key Highlights: The company has consolidated key land positions along the Doucer's Valley Fault, filling in critical gaps near historic workings like the Browning Mine and high-grade gold showings. A clean deal structure: 2% NSR on new claims with a 1% buyback for $1M and no underlying royalties, ensuring a clear path forward for development or partnerships. Gold Hunter now controls multiple gold zones - 18+ target areas identified - with 5 priority targets to lead an initial 10,000-meter Phase 1 drill program this year. The airborne VTEM survey is expected to begin in mid-to-late June, helping refine targets and guide boots-on-the-ground fieldwork and drilling. Fully permitted and road-accessible, the project is supported by Newfoundland's Junior Exploration Assistance (JEA) grant program and backed by an experienced team focused on discovery beyond known zones. CEO Sean Kingsley also explains the regional geological significance of the Doucer's Valley Fault, drawing comparisons to multi-million-ounce gold systems along major structural corridors like those seen in Calibre Mining's portfolio. If you have any follow up questions for Sean please email me at Fleck@kereport.com.   Click here to visit the Gold Hunter Resources website.

Jonathan Egilo, President and CEO of AXO Copper (TSX.V: AXO), joins me for a comprehensive introduction to this newly listing high-grade copper exploration and development company, and their flagship La Huerta Project in the prolific Sierra Madre Belt of Jalisco, Mexico.   We highlight the history of the La Huerta Project, where a private family business had produced high grade copper on the project, and then some of the work this team has done in the background once picking up the project in 2021 and doing some exploration and derisking as a private company.   Some prior drilling at the property yielded strong high-grade copper mineralization, with highlights including: ▪ 13.7 metres of 5.03% Cu ▪ 9.50 metres of 6.63% Cu ▪ 7.60 metres of 7.37% Cu ▪ 7.35 metres of 5.00% Cu   Jon outlined that the initial plan is to do some aggressive step-out drilling to demonstrate the potential scale of the mineralized footprint, with a 15,000 meter drill program.  This exploration program will be focused on defining near-surface mineralization and targeting new discoveries at depth in this underexplored district; following up on the recent drilling and trench sampling that returned excellent grades.    There will be a C$15,000,000 proposed equity offering at the IPO, and he breaks down the budget for this year's program and property payments.  We reviewed Jon's background in the sector, and that some of the founding shareholders and board has members from both GoGold Resources, and Silver Tiger, including the Executive Chairman, Glenn Jessome.   If you have any questions for Jon regarding AXO Copper, then please email me at Shad@kereport.com.   Click here to follow the latest news from AXO Copper   Click here to view the Corporate Presentation

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins us to outline why he is holding onto the bullish trends in gold and silver stocks, and adding to positions in international stocks,  counter-drone defense stocks, and dividend-paying oil stocks.    With the precious metals equities, Sean is mostly holding onto the names that he and his subscribers have purchased over the last few months, but has rotated some funds down into more gold developers and the silver stocks; looking for those areas to outperform.  When looking at the macroeconomic factors and geopolitics, he is not convinced in that the tariff implications are behind us, and is still seeing continued weakness in the US long bond, US dollar, and business guidance through year end.    Sean notes that there are still a lot of foreign market participants still scaling out of US markets to repatriate funds into their own domestic stock markets, and he is still finding pockets of value in international stocks. For example, he has been bullish European defense stocks for a while, but then domestically he's been positioning in counter-drone defense stocks.   Wrapping up we discuss that he is getting more interested in accumulating the better run intermediated oil stocks that pay good dividends, can make money at the current lower price range for WTI oil, and that are trading down near book value.     Click here to follow along with Sean's work at Weiss Ratings Daily and Wealth Megatrends   Click here to learn more about Resource Trader

David Baker CFO of Elemental Altus Royalties (TSX.V:ELE) (OTCQX:ELEMF), joins me to review a few different royalty partner project updates, development growth on tap in their portfolio of royalties, his take on the Q1 2025 financials and coming one-off payments, and looking ahead to future acquisitions.   We kick things off with recent announcement by Focus Minerals Limited (ASX: FML) reporting the sale of their Laverton assets in Western Australia, to A$5 billion Australian miner Genesis Minerals Limited (ASX: GMD) for A$250 million. Elemental Altus holds an uncapped 2% gross revenue royalty over a significant portion of the project, and their management team is thrilled to see a senior producer taking over the project which can fast-track it back into production. Genesis Minerals noted in the announcement the clear potential for Laverton to supply open pit and underground ore to their operating 3 Mtpa Laverton mill approximately 30 km away, after conducting more infill and extensional drilling and internal scoping studies.   Next we pivoted over to the recent announcement by Northern Star Resources Limited (ASX: NST) reporting a maiden Mineral Resource and Ore Reserve Estimate at the Hercules Discovery of 916,000 ounces of gold. This Hercules deposit is part of the South Kalgoorlie Operations ("SKO") in Western Australia, where Elemental Altus holds a A$10 per ounce production royalty.  In addition to the royalty, Elemental Altus also has a A$1 million Discovery Bonus over a significant portion of the project, for each new ore body with production and/or Reserves greater than 250,000 ounces of gold, so that will be an added one-off payment.   We also touched upon the recent news from Arizona Sonoran Copper Co. (TSX:ASCU | OTCQX:ASCUF) where it was announced by the Company that they've appointed H&P Advisory Limited as its debt financial advisor for the Cactus Project, a copper cathode development project in Arizona. H&P will work closely with the management team to provide complete and proactive support in all aspects of the project financing process for the Project, acting as the primary interface with lenders.  It is expected that Arizona Sonoran may buy back a part of this royalty in a one-off payment later this year, but Elemental will still have good royalty exposure to this project, and it will supplement the copper payments coming in from their Caserones copper royalty down the road.   Turning to the financial strength of Elemental Altus, Dave highlighted with the roughly $20 million in cash on hand, the expected revenues over $30 million this year, a number of additional incoming $13-$15 million in one-off payments, and the $50 million credit facility on hand, that the company is in a great position to keep reviewing accretive acquisition transactions in the year to come.     If you have any follow up questions for Dave regarding Elemental Altus Royalties, then please email them to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Elemental Altus Royalties at the time of this recording, and may choose to buy or sell shares at any time.   Click here to view recent news on the Elemental Altus Royalties website

Precious metals rally gains momentum! In this Daily Editorial, we welcome back Dave Erfle, founder and editor of Junior Miner Junky, to discuss the strong action yesterday across the precious metals sector, and why the juniors are finally playing catch-up. Gold and silver prices took off to start the week, fueled by macro headlines including geopolitical unrest and tariff-related risks. Dave breaks down why the strong follow-through in miners - from large caps to juniors - is especially bullish, and why he believes $4,000+ gold is in play before year-end.   Highlights from the conversation: Silver stocks (SIL, SILJ) are leading the charge, outperforming gold miners on high volume. Institutional sentiment shift: Goldman Sachs now recommending gold over treasuries; safe-haven flows are shifting. Why silver juniors are breaking out from massive technical bases, and how Dave is managing his portfolio accordingly. The importance of share structure, warrant overhang, and why Dave favors tight-float, US-listed juniors. His strategy for rotating down the food chain into select development-stage plays with major takeover potential. Listen to hear how he evaluates buy signals, trims winners, and avoids overtrading while staying positioned for longer-term upside in this ongoing bull market.   Click here to visit the Junior Miner Junky website to learn more about Dave's investment letter. 

Sitka Gold's (TSX.V:SIG - OTCQB:SITKF - FRE:1RF) aggressive 30,000m drill campaign is in full swing at the RC Gold Project, with visual gold already intersected in every hole so far this season. In this company update I caught up with Mike Burke, Director and VP of Corporate Development at Sitka Gold, to discuss recent news from the ongoing exploration program.   We discuss:  Three rigs are turning (with a fourth on-site), targeting expansion at the Blackjack, Eiger, and Saddle Zone deposits Early drill holes are reporting visible gold, supporting confidence in deeper and lateral mineralization potential 2025 campaign is fully funded with $25 million in the treasury Blackjack already hosts over 2.3Moz gold (Indicated + Inferred) - this year's drilling aims to expand the resource further and explore nearby anomalies The Saddle Zone, sitting between Blackjack and Eiger, is now being prioritized for the first time since 2021, based on strong gold-in-soil anomalies Additional targets at Rhosgobel, and Pukelman areas will be tested later in the season Mike also shares thoughts on the market's positive reaction to exploration news and when investors can expect initial assay results. 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 Q1 financial 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 at the Moss Mine later this month in June, and what to anticipate for the several months of ramp up of increased production.  Additionally, we delve into the next key steps for derisking and development work at the Eagle Mountain Gold Project in Guyana to be in production there about 2 years out.   This is a longer-format interview where we get into many nuances of operations in all 3 jurisdictions.   The Company's financial results for Q1 2025 reflect record gold sales from its San Albino and Moss Mine of $31.8 million (vs. $19.2 million in Q1 2024), which generated $19.9 million in Mine Operating Cash Flow, $16.1 million in Adjusted EBITDA, and $9.4 million in Net Income. The Company sold 10,817 oz of gold at an average price of $2,915/oz with a $1,239 Cash Cost and $1,411 All-In Sustaining Cost ("AISC") ($/oz sold). Subsequent to March 31, 2025 Mako delivered the final installment of 13,500 oz of silver on the Sailfish Silver Loan.     Q2 2025 (through May 31st) - Mako Mining Financial Highlights   $25.1 million in Revenue from 7,409 oz of gold at $3,327/oz and 13,529 oz of silver at $33.03/oz $22.0 million in Cash and Receivables and $3.3 million in Restricted Cash (50% will become unrestricted in June 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. Drill hole EJ25-RC53 at El Golfo intersected a wide, high-grade interval of 39.15 g/t Au and 27.8 g/t Ag over 8.0 m (5.9 m ETW), 19.2 m below surface.    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 starting at the end of June, and then it will take several months for new materials moved onto the leach pads to charge up increased production again. A technical report is slated to be put out later in the year around September, 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 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.

Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins us for a review of Q1 2025 operations and financials 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.    Q1 2025 Financial Highlights   22,750 ounces ("oz") of gold sold (Q1 2024: 17,420 oz) with an average gold price of US$2,720 per oz (Q1 2024: US$2,033). Cash operating cost of US$711 per oz sold (Q1 2024: US$418) and all-in sustaining cost ("AISC") of US$950 per oz sold (Q1 2024: US$632). Revenue of US$64.0 million (Q1 2024: US$33.3 million). EBITDA of US$43.6 million (Q1 2024: US$23.2 million). A quarterly record Net Income of US$34.4 million (Q1 2024: US$12.4 million). Net Cash of US$24.7 million (Q1 2024: Net debt of US$14.3 million). Maiden quarterly dividend of C$0.0125 per share per quarter (C$0.05 per year)   This strong financial balance sheet with no debt is allowing the Company to increase exploration initiatives at all projects.   In Nigeria, there is ongoing near-mine exploration focused on testing depth extensions of the Segilola deposit, with a diamond drilling program targeting the continuity of high-grade shoots down-plunge to the south. Early results confirm mineralization below the current final pit design. Drilling returned encouraging high-grade intercepts both north and south of the existing resource, indicating the potential for extensions and new target areas beyond the current limits of the Segilola resource. Regional exploration efforts concentrated on geochemical sampling targeting structurally complex zones within the Ilesha Schist Belt identified through geological modelling as prospective for gold mineralization.   In Senegal, at the Douta Gold Project, workstreams in support of a Preliminary Feasibility Study ("PFS") were advanced during 2024 on the metallurgical test work, process flow sheets and resource update.  Exploration work focused on  at depth between the main Makosa resource base along the 6km strike from Makosa Tail to the northern extent of the deposit, with RC drilling targeting increased oxide resource definition at the parallel Makosa East Prospect. The discovery of the Baraka 3 Prospect in Douta West has had positive implications to the Douta PFS, but has delayed the delivery of this study as a result. This 3km of strike length of very wide near-surface oxide gold mineralization could be very import to the early economics in a development scenario of this Project, and thus the Baraka 3 drilling has been accelerated.   Wrapping up we discuss the exploration prospectivity over the 3 different exploration projects in Côte d'Ivoire: The Guitry Gold Project and two additional option agreements to acquire an 80% interest in the early-stage Boundiali Exploration permit and the Marahui Exploration permit. At these project the company is assessing target-generative geochemical surveys and sampling and mapping, with drilling planned for after rainy season in Q3 2025.     If you have any questions for Segun regarding Thor Explorations, then please email them into us at Fleck@kereport.com or 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

Fred Earnest, President and CEO of Vista Gold Corp. (NYSE American and TSX: VGZ), joins me for comprehensive company overview of the upcoming Feasibility Study at their Mt Todd gold project;  a ready-to-build development-stage gold deposit located in the Tier-1 mining jurisdiction of Northern Territory, Australia.   Fred reviews the 9.4 million ounces of gold resources in all categories, and that the resource block model has been updated to incorporate data from the Company's 2020-2022 and 2024 drilling programs and is being used as the basis for the new mine plan in the upcoming updated feasibility study. This new study aims to increase the reserve grade to 1 gram gold per tonne by applying a higher cut-off grade, and will also incorporate mine scheduling optimization strategies that prioritize higher grade ore during the early years of operation.   The Company is continuing  to advance their revised 15,000 tonne per day (tpd) Mt Todd Feasibility Study, and it will differ from the previously modeled 50,000 tonne per day scenario, aiming to reduce initial capex by 60% to $400 million, while averaging annual gold production of 150,000 to 200,000 ounces. Guidance is for delivering the new study by mid-2025 in July. This Feasibility Study will leverage prior technical studies, preserve the potential for future expansion, and demonstrate the opportunity for Mt Todd to deliver attractive economic returns with a smaller initial capital investment.   Fred walks us through how the Mt Todd Project offers significant scale, development optionality, growth opportunities, advanced local infrastructure, community support, and demonstrated economic feasibility. All major environmental and operating permits necessary to initiate development of Mt Todd are in place.   If you have questions for Fred regarding Vista Gold, then please email those into me at Shad@kereport.com.   Click here to follow the latest news from Vista Gold

We kick off June with a powerful move across the precious metals complex, as both gold and silver surge higher, defying expectations of seasonal weakness. In this KE Report Daily Editorial, Craig Hemke, founder of the TF Metals Report, joins us to break down what's driving the action, why silver's breakout matters, and how this rally could evolve.   Key themes covered in this interview: Gold rallies $83 and silver jumps 5%, signaling strength despite flat equity markets. Craig highlights the summer rally potential, spurred by a falling U.S. Dollar Index and positive technical setups. Silver's breakout above key levels may be activating algorithmic buying and could spark broader momentum across miners. Craig sees a shift in sentiment as investors revisit mining equities, especially after Q1 earnings and improving margins heading into Q2. Discussion includes CoT reports, open interest washouts, and hedge fund positioning. The interview also touches on macroeconomic signals, potential commodity rotation, and geopolitical catalysts impacting safe-haven flows.   Visit TF Metals Report for Craig's ongoing analysis

This weekend's KE Report dives deep into two pivotal commodity trends: Matt Geiger of MJG Capital outlines why it's “game on” for junior mining stocks with a breakout on the TSX Venture, while Dan Steffens of the Energy Prospectus Group unpacks the tug-of-war between fear-driven oil pricing and strong natural gas fundamentals. 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 - Matt Geiger, Managing Partner at MJG Capital, kicks off the show to discuss the improving outlook for junior mining stocks, highlighting that while the TSX Venture isn't as mining-heavy as in past cycles, rising capital flows and exploration activity suggest a potential early-stage bull market for juniors. He also unpacks selective M&A trends in gold and silver, why copper still needs higher prices to incentivize development, and how he's cautiously managing a strong-performing, junior-heavy portfolio amid growing market optimism. Click here to visit the MJG Capital website to learn more about Matt's fund.    Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, joins us to unpack the fundamentals driving oil and natural gas prices, rig count trends, and where he sees near-term upside.He explains why U.S. oil production may have peaked, how LNG export growth is tightening the natural gas market, and highlights two Canadian gas-weighted companies, Spartan Delta and Journey Energy, as attractive plays amid rising gas demand and discounted valuations. Click here to visit the Energy Prospectus Group website for more energy market and stock analysis.  

Roger Rosmus, Founder, CEO, & Director of Goliath Resources (TSX.V: GOT) (OTCQB: GOTRF), joins me to review the news out May 28th that announced the Company is embarking on its largest drill program to date, totaling 40,000 meters with 9 rigs, that is 100% focused on the extensive Surebet high-grade gold discovery on the Golddigger Property located in the Golden Triangle of British Columbia.   This year's exploration focus is based on the positive results from the 2024 drill season which has greatly improved the understanding of this large mineralized system that remains open for expansion in all directions.   As a first initiative, the team is also currently be mobilized to site to start the process of relogging prior year's drill core, based on the conclusions from the Colorado School Of Mines geological study which confirmed a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and confirms common causative Reduced Intrusion Related Gold (RIRG) source.   Armed with this understanding that dykes found on the Project have the potential to be mineralized with this intrusive style of gold, changes how to interpret prior drilling, and how to move forward now drilling through those dykes into other mineralized horizons instead of avoiding them. Roger highlights the tremendous untapped discovery potential at the Golddigger Project in the Golden Triangle of British Columbia.   Next we discussed the news released on May 5th that world renowned JDS Energy & Mining Inc. has been engaged to assess the viability, permitting and development of an underground exploration adit at Surebet. The Company has tasked JDS with an exploration adit to access a broad expanse of the gently-dipping, high-grade gold lode called the Bonanza Zone that sits approximately 200 meters above the valley floor, and also to consider the best location if a road was to be created into the property.   Wrapping up Roger shares the financial health of the Company after announcing yesterday a bought deal private placement of charity flow-through financing for gross proceeds of C$20,002,700, with Stifel Nicolaus Canada Inc. acting as the sole bookrunner and lead underwriter, together with a syndicate of underwriters. This was done at a slight discount to market, without traditional warrants, and provides the company with optionality on how to proceed with this year's exploration program and possibly carrying over into next year's work program.     If you have any questions for Roger about Goliath Resources, then please email me at Shad@kereport.com and then we'll get those answered or covered in a future interviews.   In full disclosure, Shad is a shareholder of Goliath 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 Goliath Resources

John Rubino, [Substack https://rubino.substack.com/], joins us for a wide-ranging discussion on the macroeconomic factors driving gold and silver, along with strategies for portfolio management in the precious metals stocks.   We start off discussing how the higher underlying metals environment has started allowing for more investor confidence in the gold producers maintaining healthy margins and valuations, which is attracting more generalist investor capital flows. Additionally, now the gold development projects economics are starting to look more and more attractive.  John discusses how he is still striking a balance between have exposure to the larger PM producers and royalty companies, but also have exposure further down the risk curve into the exploration stocks as “lottery tickets.”   This leads into a discussion about some of the developers with large resource bases delineated, like Seabridge Gold, and whether or not they will be acquired or built in this cycle; after sitting available for development since the prior cycle.  We dig in to if the reservation from other companies to acquire them is due to jurisdiction, capex requirements, or if it is simply a lack of human capital. John weighs in on what aspects he would describe as “high quality,” and the importance of limiting the amount of portfolio positions to the companies one can really do proper due diligence on.     Wrapping up we circle back to macroeconomic factors that may drive gold prices even higher.  We start of focusing in on the rising sovereign debt levels in countries all over the world, and the changes in the Basel III demarcation for gold as a Tier 1 reserve asset that more banks will be buying to gain more exposure to and diversify their asset mix.  We talk about BRICS countries continuing to reduce down US dollar exposure and mitigate potential trade wars by increasing their gold holding. Lastly we reflect on the increased retailing buying, using the example of new limits on gold purchases from Costco as another tailwind for gold, that may spill over into more sympathetic investment in silver.   https://rubino.substack.com/

In this KE Report company update, we speak with Rhylin Bailie, VP of Investor Relations at Equinox Gold (TSX: EQX - NYSE-A: EQX), following the shareholder-approved merger with Calibre Mining. The newly combined company is on track to produce nearly 1 million ounces of gold in 2025, with a clear path to surpassing that milestone through 2026 and beyond. Rhylin walks us through: Equinox's rapid growth since 2017, driven by M&A and organic mine builds across five countries. The strategic rationale for the Calibre merger, including enhanced scale, diversification, and the potential for a valuation re-rating as a senior producer. Flagship Canadian assets Greenstone and Valentine, which are ramping toward 600,000 oz/year combined production. Development-stage upside at Castle Mountain (CA), Aurizona (Brazil), and multiple optimization projects across the portfolio. Outlook on debt reduction, potential for dividends, and disciplined capital allocation amid strong gold prices. An update on the Los Filos mine in Mexico and how it remains a long-term upside wildcard. Key near-term catalysts: closing the merger (expected mid-June), consolidated 2025 guidance, and first gold pour at Valentine (Q3 2025). As Rhylin emphasizes, this is not just a merger of assets, but a merger of teams - combining two strong operators to build a resilient, cash-generating, growth-focused gold producer.

The momentum in the gold sector continues to build, and it's now filtering into the juniors. In this episode of the KE Report, we speak with Brian Leni of Junior Stock Review to unpack what he sees as a true shift in sentiment and market behavior toward gold exploration and development companies. "We're finally seeing good news get rewarded." Brian discusses the shift from bearish sentiment to bullish action as gold prices remain strong and financing picks up across the junior space. Topics covered include: - Why this market feels different from past cycles, and how it compares to 2016 and 2020 - Brian's portfolio strategy: holding vs. trimming, and rotating into new names - Standout companies and valuation gaps, including Thesis Gold - His views on M&A as a key exit strategy in a rising market - Whether other commodities like copper, nickel, or lithium are offering enough value right now   Brian also shares how he identifies high-probability takeover candidates and why the best opportunities still lie in companies where value hasn't caught up to price. Follow Brian's work at Junior Stock Review and sign up for his newsletter to track his top picks.

Saf Dhillon, President and CEO of Questcorp Mining (CSE: QQQ) (OTCBB: QQCMF) (FSE: D910), joins me for a comprehensive overview of their 2 key exploration projects, in Mexico and Vancouver Island respectively, the work program at each property for 2025, the experience of the management team, and the financial health and capital structure of the Company.   The flagship Project is the La Union Gold Project in Sonora, Mexico; currently under an option agreement to earn in 100% interest from Riverside Resources Inc., subject to a 2.5% NSR royalty, and by making cash payments of $100K; issuing in stages,19.9% of the issued and outstanding capital of the Company; and completing $5.5M in exploration expenditures over the next four years. Saf unpacks the terms of the news release from May 6, 2025, where the Company has issued 6,285,722 common shares in the capital of the Company, representing 9.9% of the issued and outstanding Common Shares as of May 20, 2025, to Riverside Resources Inc. and completed the first required payment of $25,000 CAD to Riverside.   The La Union Project is a carbonate replacement deposit (“CRD”) project, where mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content.  Historical exploration work highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model.  The plan is to spend $1Million on the exploration program for this year, starting with sampling and geophysical surveys for targeting, and then to test those targets with a drill, where Riverside Resources will be the operator.   Next we shifted over to the The North Island Copper Property, on Vancouver Island, British Columbia, where the Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares, and subject to a royalty obligation. Questcorp is focusing on the Marisa porphyry target in the west where a historic induced polarization (IP) survey and follow up drilling met with initial success. Two of the five holes drilled into the chargeability high intersected significant copper mineralization to depths of 80 metres.  After receiving the next set of permits in the coming month, then the summer exploration program will be announced.   We wrapped up with more background on the management team and board, discussed the capital recently raised to execute this year's work programs, and broke down the capital share structure.     If you have any questions for Saf regarding Questcorp Mining, then please email me at Shad@kereport.com.     Click here to follow the latest news from Questcorp Mining

Dana Lyons, fund manager and editor of The Lyons Share Pro, outlines why his market models remain bullish, with both U.S. and international equities flashing green signals. In this KE Report Daily Editorial, we welcome back Dana Lyons to dive into where his internal models see opportunity right now. Despite a volatile year, Dana's models have stayed ahead of the major swings, turning cautious before the April correction, and then flipping bullish in time for the rebound. Key Discussion Themes: Current Market Outlook: Dana's objective, model-driven strategy remains bullish following the April washout and rebound. He sees the potential for a continued uptrend in U.S. equities. Sector Rotation in the U.S.: Aerospace & defense, industrials, utilities, and insurance have shown strong relative strength. Even parts of tech, like cybersecurity, are nearing new highs. International Market Leadership: Dana highlights Europe, especially Germany, Italy, and the UK, as the top-performing region. Japan, Argentina, and Canada are also on his radar. Precious Metals & Miners: Gold remains constructive, but Dana's focus is on GDX, GDXJ, and SIL - miners that have consolidated and look poised for a new leg higher. Uranium Setup: After a sharp rebound, Dana is watching URA closely for a consolidation and potential breakout above key levels, eyeing $40+ targets longer term.

Trey Wasser, CEO and Director of Dryden Gold Corp (TSX.V: DRY) (OTCQB: DRYGF), joins me to outline more recent drill core seen carrying visible gold from the initial drilling at the historical Laurentian Mine Target and the Intersection Target on the Elora Gold System. This is part of the on-going 15,000 meter drill program underway across their Dryden Gold District land package in Northwestern Ontario.   Laurentian is approximately one kilometer north of the Jubilee Target where the Company recently released assay results of 301.67 g/t over 3.90 meters including 1,930 g/t over 0.60 meters in a newly discovered hanging wall structure. The VG intersected at Laurentian was on a new parallel mineralized hanging wall structure. At the new Intersection Target, 200 meters northeast of Jubilee, VG was intersected before the main target in a mineralized footwall structure. This confirms new target potential on parallel high-grade structures along a one-kilometer strike at the Elora Gold System. Both holes have been submitted to the lab and results are expected in the coming weeks.   In addition to all the targets along the  Elora Gold System trend, we also discuss new geological understanding of the D3 deformation fault and how this will inform coming work initiatives at the Big Master, Mud Lake, and Mosher Bay Areas of the Gold Rock Camp.   Wrapping up we discuss the news out to the market today where the Company has received exploration permits from the Ontario Ministry of Mines for drill testing the Hyndman property. With the arrival of the 2025 summer field season, the Company has launched its regional exploration campaign. Field crews are starting a detailed mapping and channel sampling at Hyndman to prepare for future drill testing of multiple unexplored geophysical anomalies. The geology team is also preparing for the initial drill test at a 3rd area of focus at Sherridon; where detailed mapping from 2024 has exposed multiple drill ready 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

Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network, joins us to break down what's driving the current market sentiment as the S&P 500 hovers just below all-time highs.   In this wide-ranging conversation, Joel shares a contrarian view on the recent rally, questioning the sustainability of momentum and highlighting the growing disconnect between valuation metrics and investor behavior. From tariff confusion to the diminishing importance of economic data, Joel outlines why this market feels “overpriced” and why now may be a smart time to consider rebalancing portfolios.   We also dive into: The fading impact of CPI, PPI, and Federal Reserve policy on markets Why momentum, not fundamentals, continues to dominate Sector rotation ideas - including a closer look at healthcare and tech Bitcoin's surge and the role of political sentiment in crypto markets What Nvidia's earnings and price action reveal about broader tech sentiment Follow Joel and the PreMarket Prep team here:

We're joined by Colin Padget, President and CEO of Founders Metals (TSX.V:FDR - OTC: FDMIF - FRA:9DL0), to discuss the latest drill results and ongoing exploration at the Antino Gold Project in Suriname. This update focuses on the Upper Antino Zone, where a step-out hole 125 meters north returned gold mineralization, and the headline result of 33 meters grading 3.5 g/t gold was located to the east of the main Froyo Zone, revealing expansion potential both along strike and to depth.   Key topics covered: – New drill results confirming continuity and high-grade intercepts – Potential to connect the Froyo and Donut zones across a 1km strike – Update on saprolite vs. hard rock mineralization and its impact on economics – Deeper drilling underway to test down to 500+ meters vertical depth – Regional upside with work at Lower Antino, Buese, and early-stage targets like Maria Geralda Colin also outlines where the company is within the 60,000-meter drill program, current rig activity, and what news is expected in the coming months. Visit https://foundersmetals.com for more company information. Have questions for Colin? Send them in, and we'll include them in future updates. Fleck@kereport.com and Shad@kereport.com.

James Anderson, CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me to review the solid Q1 2025 financials and operational metrics, demonstrating that the Company has reached a strong inflection point.  We also discuss the growth plans for the company through operational efficiencies at their 4 producing mines in Mexico, ongoing exploration initiatives, and the potential future development at Pinguico to augment throughput at their El Cubo mill.   Selected Q1 2025 Highlights:   Record mine operating income of $4,845,773 was up 82% over the previous quarter; the Company's mining operations have now successfully generated four consecutive quarters of positive mine operating income. Record revenue for the quarter of $21,330,483 was up 12% over the previous quarter. Guanajuato Silver is a primary precious metals producer with over 90% of the Company's revenue derived from the production and sale of silver and gold. Operating costs continued to improve over the quarter; cash cost of $19.19 per AgEq ounce was 3% lower than the previous quarter; All-In Sustaining Cost ("AISC")* was $23.41 per AgEq ounce - a 6% improvement over Q4, 2024. Production for the quarter was 738,006 silver equivalent ounces ("AgEq"), which was a 1% increase over the previous quarter. Production consisted of 380,406 ounces of silver, 3,347 ounces of gold, 699,294 pounds of lead, and 909,029 pounds of zinc. Adjusted EBITDA was up 135% over the previous quarter to $4,104,669.   James reviewed the out-sized leverage that Guanajuato has to the price of precious metals, and the operations returned record income and the highest quarterly revenue in the last quarter, as working efficiencies continue to show marked improvements at all four of their producing assets in Mexico.     Guanajuato Silver produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, and the San Ignacio mine; all three mining centers are located within the state of Guanajuato, which has an established 480-year mining history. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. The operations team is also augmenting material at the Cata processing facility in Guanajuato with ore from both the historic Horcon Mine project, located in the state of Jalisco, and from stockpiles at the Pinguico mine.  James outlines that the company is working to get a permit to be able to extract more ore from the Pinguico underground mine, and is looking to launch a more comprehensive exploration and development work program at the Horcon Mine.     If you have any follow up questions for James on Guanajuato Silver, then please email them into me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Guanajuato Silver 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 Guanajuato Silver