In this Company Introduction, I chat with Meredith Eades, President and CEO of EraNova Metals (TSXV: NOVA | OTCQB: STXPF). Meredith joins me to discuss her new leadership role, the strategic rebrand from Stuhini Exploration, and the company’s dual-track approach to unlocking value from the large Ruby Creek property in Atlin, British Columbia.

Key discussion points include:

• Fast-Tracking the Adanac Molybdenum Project: An overview of how over $100 million in historical spending and extensive infrastructure are enabling the company to bypass the pre-feasibility stage and head straight from an upcoming Preliminary Economic Assessment (PEA) toward a full Feasibility Study.
• The Strategic Value of Molybdenum: A look at the global supply landscape for molybdenum, the 433-million-pound resource at Adanac, and why current market dynamics position this development-ready asset as a rare commodity in North America.
• High-Grade Discovery Potential at Atlin: Exploring the separate, highly prospective exploration arm of the property, which boasts surface samples of gold, silver, tungsten, and copper.
• Corporate Vision and Capital Allocation: Insights into the company’s lean share structure, prominent backers like Eric Sprott, and how a recent $600,000 financing will fund immediate milestones and upcoming news flow.

Click here to visit the EraNova website to learn more about the Company – https://www.eranovametals.com/ 

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we connect with Tara Christie, President and CEO of Banyan Gold (TSXV: BYN / OTCQB: BYAGF). Tara takes us through the updated Mineral Resource Estimate (MRE) for the AurMac Gold Project located in the Yukon, which was announced on May 19, 2026. We discuss the significant expansion of the project’s total footprint, the successful definition of a substantial high-grade core, and what these new numbers mean for the company’s upcoming PEA milestones.

Key discussion points include:

• Exceeding the High-Grade Target: How the company successfully delineated a high-grade portion of the deposit right around 1.0 g/t gold, surpassing their original 5-million-ounce target.
• Impressive Resource Conversion Rates: A look at the 90% conversion success rate to the indicated category, showcasing the continuity and robustness of the deposit without sacrificing grade.
• Pit-Constrained Sensitivity Analysis: An explanation of how the pit-constrained model reacts to different gold prices, revealing the significant long-term growth potential still locked within the system.
• 2026 Exploration Strategy & Upcoming PEA: Details on the current 70,000-meter drill program, how the budget is allocated between conversion and regional exploration, and how this MRE optimizes the economics for the Preliminary Economic Assessment (PEA) coming in the second half of the year.
• Strong Financial Position: A summary of the company’s balance sheet, which features $70 million in cash.

If you have any follow up questions for Tara please email me at Fleck@kereport.com. 

Click here to visit the Banyan Gold website – https://banyangold.com/

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Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Terry Harbort, President and CEO of Talisker Resources (TSX: TSK) (OTCQX:TSKFF), joins me to review the key metrics and takeaways from the 2026 Mineral Resource Estimate (MRE), along with a production and exploration update at the Mustang Mine at their 100% owned Bralorne Gold Project in British Columbia.  We also discuss the ongoing upsized 105,000 meter drill program, focused on the development towards Bralorne West and over into the Olympus Mine.

Highlights of the Bralorne Gold Project MRE:

• Combined Measured and Indicated Mineral Resources are estimated at 0.72 Mt at an average grade of 8.91 g/t gold. The MRE includes Measured Mineral Resources of 21,900 oz of gold at an average grade of 10.04 g/t gold and Indicated Mineral Resources of 184,400 oz of gold at an average grade of 8.80 g/t gold.
• Inferred Mineral Resources are estimated at 11.23 Mt for 3,151,000 oz at an average grade of 8.73 g/t gold.
• A total of 141 orogenic veins that comprise the Project’s vein systems were included in the MRE. The MRE is exclusive of mined out material.

The Company successfully transitioned over to shipping ore to Ocean Partners in Q1, with over 5,000 tonnes currently being crushed for shipping.  To date in 2026 (through May 12, 2026), the Company has sold 2,675 ounces of gold, consisting of 770 ounces of concentrate and 1,905 ounces of Direct Shipping Ore (DSO), derived from 6,990 tonnes of mined material with an average grade of 8.48 g/t. Based on current estimates under the Ore Purchase Agreement, the Company expects estimated net proceeds of approximately $12.7 million, net of applicable deductions and adjustments, including transportation, treatment/refining under the Ore Purchase Agreement, and subject to final settlement.

Terry outlined the areas of ramp-up in production at the Mustang Mine, currently accessing about 6 ore faces at the 1040 and 1030 levels, with the plan to eventually get down to the 1015 and 980 levels later this year. The mining has been coming from the Alhambra Vein, BK Vein, and BK-9870 Vein, with plans to also begin accessing the Brumby Vein in the next couple of months. 

Development work is continuing from the main area of the Mustang Mine over towards Bralorne West, with about 150 meters to go to be able to start accessing ore faces over in that part of the deposit. 

As operations continue ramping up, expanding up to 500 tpd later this year, that the plan is then to keep developing over to increase mining from more areas including from Bralorne West to increase operations to 750-1,000 tpd about 2 years out.

Then further out the initiative is to put in a second portal into the historic Pioneer mining area to access the Olympus Mine to the southeast of the Mustang Mine, moving throughput up to the eventual target of 1,500 tpd.

Additionally, we explore how the mining process will be further upgraded utilizing ore-sorting technology by Q3 of this year. This ore-sorting will allow for shipping higher-grade material, with less associated waste, making it even more economical to be shipped to Ocean Partners.

On April 21, 2026, Talisker Resources announced that the Company has increased its diamond drill program from 30,000 metres to 105,000 metres. The program will consist of 83,000 metres of resource conversion drilling at the Mustang, Bralorne West and Olympus areas and 22,000 metres of exploration drilling targeting veins at Congress and Pioneer Deeps.  Terry further unpacks the goals of this largest drill program to date at each of these areas and how this will set the company up for its growth initiatives for years to come.

If you have any follow up questions for Terry regarding Talisker Resources, then please email me at Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Talisker 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 Talisker Resources

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

In this Company Update, I am joined by Roger Moss, President and CEO of Labrador Gold (TSX.V:LAB – OTCQX:NKOSF – FSE:2N6). The discussion centers on the company’s recent option to acquire 100% interest in the Mariposa and Eureka Dome Projects in the Yukon’s White Gold District. Roger explains the rationale behind this expansion and how it fits into the company’s broader hybrid model of exploration and investment.

Key Discussion Points:

• Yukon Asset Acquisition: Roger provides a deep dive into the Mariposa and Eureka Dome projects, detailing why these “unloved” assets in a prolific district were the perfect fit for the company’s portfolio.
• Strategic Hybrid Model: An exploration of Labrador Gold’s unique status as a hybrid explorer and investor, including the requirement to deploy $3 million in new investments by September.
• 2026 Exploration Plans: A look ahead at the upcoming work in the Yukon, including airborne geophysics, LiDAR surveys, and soil sampling designed to refine future drill targets.
• Portfolio and Cash Position: An update on the Hopedale and Watson projects, alongside a review of the company’s balance sheet, which boasts over $15 million in cash.

Please email me with any questions for Roger or Ian. My email address is Fleck@kereport.com.

Click here to visit the Labrador Gold website to learn more about the Company – https://labradorgold.com/

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, I am joined by Simon Dyakowski, President and CEO of Aztec Minerals (TSX.V: AZT / OTCQB: AZZTF), to discuss the latest drill results from the Tombstone Project in Arizona. Simon provides a comprehensive look at how recent step-out holes are expanding known mineralization and balance between RC vs core drilling means for the company’s summer exploration program.

Key discussion points include:

• Expanding the Oxide Footprint: An overview of the five recent step-out holes at the northern portion of the Contention Pit that successfully extended the gold-silver oxide zone to the west and at depth.
• Deep Target Exploration: Insights into the core drilling program targeting deep CRD-style mineralization and large AMT conductive anomalies.
• Maiden Resource Estimate: How the latest drill data is being integrated into the upcoming resource estimates for both the Tombstone and Cervantes projects.
• Summer RC Drilling Program: Details on the transition to reverse circulation drilling to efficiently delineate the open-pit potential and further de-risk the project.

Figure 1. Plan map showing drill hole collars from the 2025-2026 drill campaign at the Tombstone Property, southeastern Arizona.

Please email me any questions you have for Simon. My email address is Fleck@kereport.com. 

Click here to visit the Aztec Minerals website – https://aztecminerals.com/

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Roger Rosmus, Founder, CEO, & Director of Goliath Resources Ltd (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF), joins us for a comprehensive exploration update reviewing the key takeaways from the 2025 exploration season and building towards the upcoming 2026 drill program at the the Surebet Discovery at the Golddigger Property; located in the Golden Triangle, B.C.

We started off reviewing the 64,000 meters (m) and 110 holes drilled in 2025, and the key geological lessons their team has learned at Surebet over the few drill seasons.  The Company is in a strong financial position with a fully funded large 50,000m expansion drill program lined up in 2026, that will be testing the limits of the mineralization, pushing the geological thesis and deposits and their understanding of the multiple types of gold mineralization. This year’s program will be mainly focused on expanding their 5 Main Mineralized Zones at the Surebet Discovery. Data compilation and interpretation is underway which will be used to vector in on the indicated Motherlode causative intrusive source to this extensive high grade gold system with widespread VG-NE.

Golddigger Property announced a transaction on March 10^th, where it now holds a 100% interest in the property. In addition, Goliath has bought down 1% of the 3% Net Smelter Returns (“NSR”) reducing it to a 2% NSR held by the Optionors.  We also discussed the participation and investment in the B- ALL Syndicate and how this gives Goliath the option to receive 4% of the upside on the success of the syndicate and upside to companies held by it like Juggernaut Exploration (TSXV: JUGR) and Gold Runner Exploration Inc. (CSE: GRUN).

The exploration team will be mobilizing to the Golddigger Project later in the month of May, to begin drilling in June, and the results should start coming back in by July, so there will be a lot of work in the field and news from the company on tap for the balance of 2026.

If you have any questions for Roger about Goliath Resources, then please email them to me at Shad@kereport.com .

• 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

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

[Recorded on May 14th, 2026]  Dave Cole, CEO of Elemental Royalty Corporation (TSX: ELE) (Nasdaq: ELE), joins me to unpack their news out on May 14^th announcing that they have entered into a definitive agreement to acquire all of the issued and outstanding common shares of Vizsla Royalties Corp. (TSX-V: VROY; OTCQX: VROY) by way of a court-approved plan of arrangement.  We also review the Company’s Q1 2026 financials and their multiple strategies for continued royalty portfolio grow.

Vizsla Royalties Acquisition Transaction Highlights:

• Combination of Vizsla Royalties’ silver-gold Panuco royalty with Elemental’s high-quality, diversified portfolio creates a platform of cash-flowing and near-term development royalties with long-term growth potential
• Opportunity to gain exposure to a high-quality royalty over an advanced development project
• Vizsla Royalties is projected to add approximately 7,500 GEOs[1] per year once in production, providing future revenue uplift as a new cornerstone asset in the Elemental portfolio, and material exposure to silver
• Life of mine 2.0%-3.5% net smelter returns (“NSR”) royalty, uncapped with no buy-backs or step-downs
• Substantial exploration upside across a large, under-explored and highly prospective land package
• Improved trading liquidity and enhanced capital markets profile, further strengthening Elemental as a leading intermediate royalty peer

Q1 2026 Financial Highlights

• Record quarterly revenue of US$24.3 million, up 83% over revenue plus attributable share of Caserones in Q1 2025;
• Gold Equivalent Ounces (“GEOs”) of 4,983 for Q1 2026 (4,606 in Q1 2025), driven by significant contributions from Karlawinda, Bonikro, Timok, and Caserones;
• Record adjusted EBITDA of US$17.7 million, up 55% over adjusted EBITDA in Q1 2025, reflecting increased operating leverage and portfolio performance;
• Operating cash flow of US$14.5 million, up 340% over adjusted operating cash flow¹ in the comparative period demonstrating strong cash flow conversion; and
• Cash and cash equivalents as of March 31, 2026of US$69.1 million and working capital of US$92.5 million, demonstrating financial flexibility for growth.

Next, we touched upon some of the key gold and copper cornerstone assets within their royalty portfolio of 18 producing royalties, 30 advanced development assets, and ~200 total mineral royalties globally; diversified across multiple jurisdictions and across precious metals, critical minerals, and battery metals.

Dave points to 4 different approaches to continue to grow future value in Elemental Royalty Corp.  Beyond the organic development growth still on tap within their portfolio of royalties, there is the future upside of their continued royalty generation strategy, the potential for larger future royalty acquisitions and/or royalty financings to create new royalties, and they are always reviewing the potential for accretive M&A opportunities.  The company has plenty of firepower to pursue accretive transactions; with near ~$200Million in combined cash and working capital plus a revolving credit facility, with an accordion feature.

We also discuss the new dividend optionality of being paid in either cash or Tether Gold tokens, (which are backed by physical gold); and the corresponding value of having Tether Investments S.A. de C.V as their key stakeholder.   Dave believes their Company is on the cutting edge of marrying the value of hard assets anchored in commodities and royalty instruments, with the interest from investors in the utility of digital assets.

If you have any follow up questions for Dave or the team at Elemental Royalty Corp, then please email those to me at  Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Elemental Royalty Corp at the time of this recording, and may choose to buy or sell shares at any time.

Click to follow the latest news from Elemental Royalty Corp

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

Pinnacle Silver & Gold (PINN): Underground Drilling Commences at El Potrero

• Targeting High-Grade: Learn why the team is shifting focus to underground drilling to unlock the core value of El Potrero.

• The Exploration Goal: What the company expects to prove with this initial phase of deep exploration.

• Strategic Overview: A breakdown of the primary targets and the geological thesis behind the current program.

• Listen to the Pinnacle Silver & Gold Interview Here

Power Metallic Mines (PNPN): Expanding the Lion Zone & Nisk Regional Targets

• Growing the Footprint: An update on the exploration success at the Lion Zone and how it fits into the broader Nisk project.

• Road to the PEA: Details on the timeline for the upcoming Resource Estimate and Preliminary Economic Assessment.

• Strategic Partners: How regional exploration is being funded and executed to maximize shareholder value.

• Listen to the Power Metallic Mines Interview Here

Heliostar Metals (HSTR): Q1 Earnings Recap – Record Gold Production

• Financial Strength: With $70 million in working capital, find out how Heliostar is positioned for its next phase of growth.

• Operational Excellence: A look at the record gold production and mine operating earnings achieved this past quarter.

• The Path Ahead: What these earnings mean for upcoming exploration and potential M&A activity.

• Listen to the Heliostar Metals Interview Here

Headwater Gold (HWG): Partnering with the Giants (Newmont & OceanaGold)

• Tier 1 Partnerships: Updates on the Jake Creek drill program with OceanaGold and the Lodestar targeting with Newmont.

• Risk Mitigation: How Headwater’s business model uses major partners to fund aggressive exploration.

• Drill Readiness: Which targets are being prioritized for the next phase of the exploration season.

• Listen to the Headwater Gold Interview Here

Fox Tungsten (FOXT): 20,000 Meters to Grow a Critical Resource

• Summer Blitz: Fox Tungsten is launching a massive 20k meter drill program in BC—find out why.

• The Tungsten Shortage: Why high-grade tungsten is becoming a critical focus for North American supply chains.

• Resource Expansion: The specific zones targeted to significantly grow the current resource base.

• Listen to the Fox Tungsten Interview Here

Sonoro Gold (SGO): 50,000m Drill Program & Updated PEA

• Scale of Ambition: Why Sonoro is launching one of the largest drill programs in the junior sector (50,000 meters).

• Cerro Caliche Value: A deep dive into the updated Resource and PEA for their flagship gold project.

• Concession Expansion: How the recently expanded land position changes the long-term potential of the project.

• Listen to the Sonoro Gold Interview Here

Guanajuato Silver (GSVR): Financial Turnaround & Loan Repayment

• Debt Reduction: Details on the early partial loan repayment and the strengthening of the balance sheet.

• Operations Outlook: A comprehensive look at the financial results and what they signal for production this year.

• Operational Development: Updates on the exploration and development strategy across their Mexican silver portfolio.

• Listen to the Guanajuato Silver Interview Here

Mercado Minerals (MERC): High-Grade Silver Discovery at Copalito

• The Discovery: Breaking down the 256 g/t Silver and 1.46 g/t Gold hit over 6.50 metres.

• Initial Results: What these first drill results tell us about the potential scale of the Copalito project.

• Next Steps: How the company plans to follow up on these high-grade intercepts in the coming months.

• Listen to the Mercado Minerals Interview Here

Sitka Gold (SIG): Resource Update – Now with Silver and Tungsten

• Multi-Metal Value: Sitka’s updated resource estimate adds significant silver and tungsten components.

• Expanded Potential: How these new metal credits impact the overall economics of the project.

• Exploration Momentum: What’s next for Sitka as they integrate these findings into their development plan.

• Listen to the Sitka Gold Interview Here

BP Silver (BPAG): Fully Funded Pathway to Production-Scale Drilling at Cosuño

• Building on Phase 1 Success: Following up on spectacular intercepts (including 5m @ 660 g/t Ag), see how the team is shifting from proof-of-concept to property-wide scaling.

• Multilayered Exploration Blueprint: From road construction and systematic channel sampling to property-wide MAG and IP geophysical surveys.

• The Next Catalyst: A deep dive into the targets lined up for the upcoming Phase 2 and Phase 3 drilling campaigns.

• Listen to the BP Silver Interview Here

Join the Conversation We hope you find these interviews valuable for your research. If you enjoy the content, please consider subscribing and leaving us a review—it helps us bring you more high-quality insights from the sector leaders.

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We want to hear from you! Our goal is to ask the questions you want answered. Please email us with follow-up questions for any of the companies featured above, or suggest new companies you are interested in tracking.

Contact us at: Fleck@kereport.com and Shad@kereport.com

This week’s Weekend Show features Josef Schachter and a KER Market QuickTake analyzing the significant price action across energy and metals. The conversation focuses on the “NACHO” trade in oil, the historic prices for copper, why certain mid-tier producers are outperforming the majors and a couple major M&A deals in the gold and silver space.  

• Segment 1 & 2 – Josef Schachter, founder and editor of the Schachter Energy Report, joins us to analyze the volatility of the oil and natural gas markets amid geopolitical tensions. Josef discusses the potential for parabolic price spikes if the Iranian conflict persists, the shifting dynamics of global energy supply and demand, and specific growth opportunities within the Canadian energy service sector. 
• Click here to learn more about The Schachter Energy Report – https://schachterenergyreport.ca/
• Click here to follow Josef on Substack at his Eye One Energy Report. – https://josefschachter.substack.com/ 

• Segment 3 & 4 – We wrap up the show with a KER Market QuickTake. We share insights on the resource sector, noting a muted sentiment at the recent Metals Investor Forum in Vancouver compared to earlier in the year. We discuss key technical levels for gold, silver and GDX, the breakout in copper prices and outperforming copper stocks, while also analyzing the significance of major M&A activity (Equinox Gold bid for Orla Mining and Elemental Royalty buying Vizsla Royalty).

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!

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Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Tim Shearcroft, CEO and Co-Founder of BP Silver Corp. (TSX.V: BPAG) (OTCQB: BPSCF), joins me for a review of the fully-funded work programs and pathway to upcoming road construction, channel sampling, MAG Survey, Phase 2 Drilling, IP Survey, and Phase 3 Drilling at the Cosuño Silver Project in Bolivia. We discuss all the levels of exploration data that will collected over the balance of this year at each step of all these processes, building upon the successful proof of concept from the initial Phase 1 drill program.

The 2026 work program consists of the following key components:

1. Construction of access roads to all principal Cosuño targets.

2. Systematic channel sampling of the principal vein and breccia structures exposed across the property.

3. Completion of a property-wide airborne magnetic (“MAG”) survey.

4. A Phase 2 drilling program designed to follow up on the success of the Phase 1 campaign (see news releases dated February 2 and February 27, 2026). The Phase 2 program is budgeted for approximately 2,000 metres of drilling and will focus on:

• Testing extensions of high-grade silver intercepts encountered in DH CO-0008 and CO-0009 at Pocañita Chica
• Hole # CO-0008 returned 38 m @ 116.39 g/t Ag; including 5 m @ 660.40 g/t Ag; and including 1 m @ 1,655.00 g/t Ag
• Hole 3 eCO-0009 returned 58m @ 46.23 g/t Ag; including 6 m @ 147.10 g/t Ag; and including 1 m @ 526.00 g/t Ag.
• Initial testing of newly discovered targets by drilling shallow holes ranging from 50 to 100 metres in length. The 1,000-metre-long vein recently discovered at Jalsuri North East is anticipated to be one of these targets.

5. An induced polarization (“IP”) geophysical survey over the principal Cosuño targets.

6. Completion of a Phase 3 drilling program. The Phase 3 program will benefit from the integration of geological mapping, channel sampling, MAG and IP geophysical surveys, and prior drilling results.

7. Together, these datasets are expected to improve significantly the Company’s understanding of the geometry, continuity, scale, and tenor of the vein and breccia systems across Cosuño.


If you have any questions for Tim regarding BP Silver, then please email those into me at Shad@kereport.com.

Click here to follow the latest news from BP Silver Corp

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

In this Daily Editorial, we are joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc provides a comprehensive breakdown of a volatile week characterized by a sea of red on Friday across equities and metals, contrasted by a significant rally in the US dollar.

Key discussion points include:

• The G2 Summit and Geopolitical Friction: A look at the conflicting reports following the summit regarding Iran and how these tensions are impacting energy markets and market sentiment.
• Global Bond Market Sell-Off: An analysis of the sharp rise in the US 10-year yield and why international debt instruments, particularly UK Gilts and German Bunds, are seeing similar pressure.
• US Economic Reacceleration: Why recent data points to a strengthening US economy, causing a dramatic shift in Federal Reserve rate cut expectations for the remainder of the year.
• The Surge of the US Dollar: Marc explains the technical drivers behind the dollar’s recovery and why “US Exceptionalism” is creating a divergence between the greenback and other G10 currencies.
• Commodity Volatility and Hard Assets: A discussion on the recent record highs in copper and the subsequent reversal, alongside the outlook for gold and silver in an inflationary environment.

Click here to visit Marc’s site – Marc To Market – https://www.marctomarket.com/

For more market commentary & interview summaries, subscribe to our Substacks: 

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, I am joined by Mike Burke, Director and Vice President of Corporate Development at Sitka Gold (TSX.V: SIG | OTCQB: SITKF | FSE: 1RF). Mike provides a comprehensive breakdown of the May 14th news release regarding the updated Mineral Resource Estimate at the Rhosgobel Gold Deposit within the RC Gold Project.

The conversation covers the following key developments:

• Expanded Mineral Resource Estimate: Mike discusses the official addition of tungsten and silver to the resource at the Rhosgobel deposit, enhancing the overall value of the asset.
• The Strategic Value of Tungsten: A look at how Sitka Gold’s tungsten grade compares to existing mines and the potential for this critical metal to provide non-dilutive funding and government interest.
• Silver as a Value Add: An overview of the newly defined silver resource and how it contributes to the bulk-tonnage potential of the project.
• 2026 Exploration Drilling: Details on the massive 60,000-meter drill program currently underway, including progress at the Rhosgobel and Blackjack deposits.
• Permitting and Infrastructure Advantages: How the inclusion of critical metals might streamline permitting processes and attract federal infrastructure grants.

If you have any follow up questions for the team at Sitka Gold please email me at Fleck@kereport.com. 

Click here visit the Sitka Gold website to learn more about the Company – https://sitkagoldcorp.com/

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• The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we are joined by Dan Rodriguez, Co-Founder and CEO of Mercado Minerals (CSE: MERC). Following the commencement of the 3,000-meter drill program in late March, Mercado Minerals has released the first set of results from their flagship Copalito Project in Sinaloa, Mexico. Dan provides a detailed look at the initial high-grade intercepts and how these results align with the company’s broader exploration strategy.

Key discussion points include:

• Initial Drill Results at Copalito: Dan breaks down the first three holes from the 5 Señores vein, highlighting the significant silver and gold grades encountered.
• Validation of Historic Data: How the recent re-assaying of historical drill holes confirms the reliability of previous work and strengthens the current geological model.
• Expansion and New Target Generation: Insights into the discovery of new targets as well as the 250-meter extension of the Cinco Señores vein.
• Strategic Outlook and Financial Position: A look at the company’s current cash position and the planned approach for interpreting data before launching future exploration phases.

If you have any follow up questions for Dan please email me at Fleck@kereport.com. 

Click here to visit the Mercado Minerals website to learn more about the company. 

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we are joined by Craig Hemke, Founder and Editor of the TF Metals Report, to dissect the recent volatile price action across the precious metals sector. As silver maintains its footing in a significantly higher price bracket compared to recent years, Craig provides a technical and fundamental outlook on where the floors and ceilings currently sit for the complex.

Key discussion points include:

• Silver’s technical range-bound consolidation: Why the current $65–$95 range is providing critical lines of demarcation for investors and what a breakout above $95 would signify for the next leg higher.
• The gold-silver ratio and gold’s sensitivity: An analysis of why gold has remained relatively stagnant compared to silver and how Federal Reserve rate hike expectations are weighing on the yellow metal.
• Paradigm shifts in historical pricing: A look at why silver’s ability to hold above $85 – despite a rallying US Dollar and rising yields – suggests a fundamental change in market dynamics compared to previous cycles.
• Copper’s influence on the silver trade: Exploring the “Dr. Copper” breakout to all-time highs and how industrial demand and supply hoarding in the red metal are providing a tailwind for silver.
• Macro drivers and negative real rates: Why the long-term thesis remains tied to the inevitability of yield curve control and the return of deeply negative real interest rates.

Click here to visit Craig’s website – TF Metals Report – https://www.tfmetalsreport.com/

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

James Anderson, Chairman & CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me for a comprehensive update on Q4 2025 financials, year-to-date operations trends, the early partial repayment of their loan to Ocean Partners, the 16,000 meters of underground development work underway, and the key initiatives for their ongoing 75,000 meter drill program at each mine.

Guanajuato Silver produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, the San Ignacio mine, and their recently acquired Bolanitos Gold-Silver Mine. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango.  In addition to these 5 producing mines, the Company also has 3 past-producing exploration and development projects in their portfolio at the El Horcon Mine, Pinguico Mine, and Cebada Mine.

Q4 2025 Highlights:

• Mine Operating Income of $4.0M represented a 375% increase over Q3; Working Capital of $14.2M vs $5.4M, represented a 163% increase over the previous quarter.
• Revenue increased by 40% to $22.7M in Q4 from $16.3M in Q3, 2025.
• Production during Q4 was 295,836 ounces of silver (an increase of 21% over the previous quarter
• Grades of Silver and Gold were 37% and 15% higher respectively, showing a continued trajectory toward higher quality ounces.
• Silver represented 64% of total revenue; with 94% of revenue in Q4 derived from silver and gold sales, Guanajuato Silver remains a genuine precious metals producer with outsized leverage to the silver price.
• Realized prices were $55.54 for silver and $4,161.94 for gold in Q4.
• Cash and cash equivalents totaled $41.5M at the end of the quarter

James outlines their ongoing 16,000 meters of underground development work paired with the 75,000-meter drill program, currently utilizing 7 drill rigs and with plans to contract 2 more to augment exploration initiatives. This is largest exploration program the company has ever deployed, with some areas getting the first meaningful resource expansion in many years.

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

For more market commentary & interview summaries, subscribe to our Substacks:

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

In this Daily Editorial, we are joined by Joel Elconin, Co-Host of the PreMarket Prep Show and Founder of the Stock Trader Network. Joel shares insights on the market technicals, challenging the “bull market” narrative by highlighting the stark divergence between high-flying tech giants and a struggling retail sector.

We dive into the following key topics:

• The Selective Bull Market: Joel explains why the current rally is far more concentrated than it appears, noting the significant number of S&P 500 stocks hitting new 52-week lows despite record highs in major indices.
• The Power of Momentum and Algos: A look at how algorithmic trading and “story stocks” are driving valuations like Nvidia and Poet Technologies, often ignoring traditional metrics like P/E ratios.
• Tech Dominance vs. Retail Weakness: We discuss the breakdown in consumer-facing stocks like Nike and Home Depot, and what this trend signals for the broader health of the American consumer.
• Contrarian Caution and Inflation: Joel shares his personal outlook on why he remains cautious despite the rally, citing looming concerns over sticky inflation, interest rates, and employment data.

Stocks Mentioned: NVDA, MSFT, AAPL, AMZN, GOOGL, META, TSLA, BRK.A, MU, JPM, NKE, HD, POET, CSCO, INTC, ASML, AVGO.

Click here to visit Joel’s PreMarket Prep website – https://www.premarketprep.com/

Click here to visit the Stock Trader Network – https://www.stocktradernetwork.com/

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

John Darch, Chairman and Director, and Ken MacLeod, President and CEO of Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP), both join me to review multiple milestones achieved and catalysts on tap transforming the value proposition for their flagship Cerro Caliche Gold Project, located in Sonoro State of Mexico.  

John and Ken both outline the transformation that Sonoro Gold has gone through over the last year, with the updated Mineral Resource Estimate, and Preliminary Economic Assessment (PEA), the very large increase in their overall land package from 1,800 hectares to almost 9,000 hectares in 2 recent acquisition transactions. Thes increased land concessions build Cerro Caliche into a larger-scale gold mining project with multiple major mineralized zones stretching from the Agnico Eagle Santa Gertrudis deposit to the north down all the way to the Highlander Silver Mercedes Mine to the southeast.

Next we got more details and initiatives around the commencement of the 50,000 meter drill program, which just got underway earlier this week.  The focus will be on growing the resources, extending the mine-life, and exploring many of the areas across their new land concessions.

The company is now taking a hybrid approach, growing through exploration across their expanded project footprint, while remaining very constructive on the future development and production set to begin upon receipt of their final MIA environmental permit in Mexico.

Updated PEA Highlights:

• Base Case Prices of $3,500/oz gold and $48/oz silver
  • Pre-Tax net present value discounted at 8% (“NPV₈”)of $360 million
  • Pre-Tax Internal Rate of Return (“IRR”) of 65%
  • After-Tax NPV₈”of $224 million
  • After-Tax IRR of 50%
• Spot Prices of $5,186/oz gold and $88/oz silver
  • Pre-Tax NPV₈of $846 million
  • Pre-Tax IRR of 121%
  • After-Tax NPV₈”of $525 million
  • After-Tax IRR of 91%
• Gold recovery of 72% and silver recovery of 27%
• 10-year LOM with 459 k ounces (“oz”) of gold equivalent (“AuEq”)
• LOM annual average production of 46 k oz AuEq at 0.38 g/t AuEq
• Initial CAPEX costs of $83 million, including $11 million in contingency
• Sustaining capital costs of $26 million
• AISC of $1,902/oz AuEq
• Payback period of 1.7 years

If you have questions for either John or  Ken regarding Sonoro Gold, then please email those into to me at Shad@kereport.com.

Click here to follow the latest news on Sonoro Gold

For more market commentary & interview summaries, subscribe to our Substacks:

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

In this Daily Editorial, we are joined by Jeff Christian, Managing Partner at the CPM Group, for a deep dive into the shifting dynamics of the precious metals markets. As gold and silver navigate wide trading ranges, Jeff provides a strategic outlook on price action, investment demand, and the fundamental drivers shaping the rest of the year.

Key topics discussed in this episode include:

• Summer Consolidation and Plateaus: A look at why gold and silver are likely to trade sideways in a volatile fashion through August before a potential breakout in late Q3.
• Silver’s Outperformance: Analysis of silver’s recent move above key technical resistance levels and why it is currently leading the pack.
• The Shift from Futures to ETFs: Why institutional and retail investors are moving away from the futures market in favor of ETFs due to regulatory hurdles and ease of access.
• Platinum’s Multi-Year Bull Case: An overview of why the shift toward hybrid vehicles and supply constraints in South Africa could drive platinum prices higher through 2030.
• Gold as the Counter-Cyclical Hedge: Understanding gold’s role as the premier “risk-off” asset and how a potential cooling in equity markets could trigger the next leg up.

Click here to visit the CPM Group website to learn more about the firm – https://cpmgroup.com/ 

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
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Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we are joined by Steve Gray, President and CEO of Fox Tungsten (TSX.V: FOXT | OTC: HPYCF). Steve discusses the company’s flagship Fox Tungsten Project, in British Columbia, which currently hosts a high-grade tungsten resource. Following a rebranding and fresh capital injection, the company is moving into a summer drilling season aimed at significantly expanding its resource base.

Key Discussion Points:

• World-Class Resource Grade: Steve explains the significance of their 1% tungsten grade.
• Infrastructure and Accessibility: An overview of the project’s location near 100 Mile House, featuring year-round road access and proximity to existing power lines.
• Summer Drill Program: Details on the upcoming 20,000-meter drill campaign designed to double the historical drilling and fill the gaps between known mineralized zones.
• Resource and Economics: A look at the company’s timeline for a resource update and Preliminary Economic Assessment (PEA) targeted for early 2027.
• Management and Financial Position: Steve shares his background with Rio Tinto and Kinross Gold, alongside the company’s $15 million cash position.

Click here to visit the Fox Tungsten website to learn more about the company and project – https://foxtungsten.com/ 

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we are joined by Caleb Stroup, President and CEO of Headwater Gold (CSE: HWG | OTCQX: HWAUF). Following a busy period of exploration, Caleb provides a comprehensive update on the company’s recent activities across its Nevada-focused gold portfolio, highlighting the start of new drill programs and the progress of strategic partnerships.

Key Discussion Points:

• Jake Creek Drill Program: Caleb discusses the commencement of an 8 to 10 hole drill program at the Jake Creek project, a partnership with OceanaGold aimed at following up on historic high-grade intercepts.
• Lodestar Project Update: An overview of the recent scout drilling results at the Lodestar project in partnership with Newmont, specifically focusing on the newly discovered Meridian alteration zone.
• Upcoming IP Geophysics at Lodestar: Details on the planned Induced Polarization (IP) survey designed to further define the high-sulfide alteration zones at depth before the next phase of drilling.
• Strategic Land Expansion: Caleb explains the rationale behind the recent staking of additional claims to the north of Jake Creek to capture the full extent of the prospective mineralized trends.

Please email your questions for Caleb to us at Fleck@kereport.com and Shad@kereport.com. 

Click here to visit the Headwater Gold website to read over the recent news – https://headwatergold.com/ 

For more market commentary & interview summaries, subscribe to our Substacks: 

• The KE Report: https://kereport.substack.com/ 
• Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.