Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSX.V: SCZ) (NASDAQ: SCZM) (FSE: 1SZ), joins us for a review of the strong Q2 2026 financial and operational results across their portfolio of 4 producing silver-zinc mines and ore feed sourcing business in Bolivia and Mexico. We also review a few of the key growth initiatives that the company has slated for 2026 across multiple projects.

Q2 2026 Highlights

• Revenues of $113.5 million, a 55% increase year-over-year.
• Gross profit of $51.1 million, a 102% increase year-over-year.
• Adjusted EBITDA of $46.7 million, a 74% increase year-over-year.
• Cash and highly-liquid marketable securities of $72.8 million, an 82% increase year-over-year.
• Working capital of $86.1 million, a 43% increase year-over-year.
• Net income of $2.0 million, a 90% decrease year-over-year, reflecting the impact of the non-recurring tax event and non-cash CVR revaluation discussed below.
• Average realized price per silver ounce sold of $72.17, a 118% increase year-over-year.
• AISC per silver ounce sold of $21.87, a 25% increase year-over-year.
• Realized mining margin per silver ounce sold of $50.30, a 222% increase year-over-year.
• Average realized price per zinc tonne sold of $3,302, a 12% increase year-over year.
• AISC per zinc tonne sold of $2,219, a 46% increase year-over-year.
• Realized mining margin per zinc tonne sold of $1,083, a 24% decrease year-over-year.

We had Arturo unpack for listeners how the net income for the quarter was significantly impacted by two non-recurring tax events associated with changes in Bolivia’s exchange rate and inflation assumptions, as well as a non-cash fair value adjustment related to the Glencore contingent value rights (CVRs). He points out that these items obscure the underlying strength of their operating performance this quarter.

• The largest impact on net income was an unusually high $36.1 million income tax expense caused by two non-recurring events. One event was the result of the revaluation of the Boliviano following the change in the official exchange rate from 6.96 to 9.77 Bolivianos per U.S. dollar, a 40% decrease. The income tax expense was also impacted by a non-recurring taxable gain related to a reduction in their decommissioning and restoration provision, which was driven by forecasted lower inflation over the lives of our mining operations in Bolivia.
• Additionally, their net income was further affected by a $15.8 million non-cash fair value adjustment to the consideration payable balance arising from the CVRs granted to Glencore. The value of the CVR liability is merely a valuation of the payouts that could occur up to the end of 2032. The payments are only triggered when the month’s average LME zinc price exceeds $3,850 per tonne, a threshold that has not been exceeded since the inception of the agreement in 2024. Its important to consider that any payments triggered by higher zinc prices would be accompanied by increased sales revenues from the higher price. Excluding the loss from the change in fair value of the CVR, net income for the quarter would have been $17.8 million.

At Bolivar silver production increased 32% quarter-over-quarter to 343,522 ounces, driven by ongoing recovery efforts in the areas affected by the localized flooding event that occurred in May 2025. San Lucas processed 22% more ore than in the prior quarter. Consolidated zinc production increased 7% to 23,240 tonnes, driven principally by higher throughput, which more than offset lower zinc grades at Bolivar and Porco. Porco delivered higher silver and zinc production, driven by stronger silver grades and improved metal recoveries, while Caballo Blanco continued to make steady, meaningful contributions.

At Zimapan, operations rebounded from the temporary constraints experienced during the first quarter, including limited ventilation in the higher-grade zones at Level 960 due to a contractor delay in completing the ventilation Robbins incline shaft, as well as repeated power interruptions caused by the local service provider’s maintenance of the power grid. As a result, metal recoveries improved across all four payable metals.   There will be the first NI-43-101 compliant maiden resource estimate released in the next month at Zimapan, with the goal to demonstrate the mineral inventory has replenished the ore that has been mined and milled over the last few years, and even grown the resources. 

Next we transitioned to future growth, where the operations team is advancing their silver-dominant Soracaya mine towards development and near-term production. There is already a decline ramp into this project with initial stope access in 2 areas, and the team has been working on an optimization plan.  Once the permit is received in September, the plan is to get the mine into initial ramp-up production by Q4 of 2026.

Wrapping up, we discussed the potential for future accretive acquisitions in the Americas, and various other growth drivers on tap that could create the catalysts for a rerating higher, that would be more in alignment with other mid-tier silver producer peers.

If you have any follow up questions for Arturo regarding Santacruz Silver, then please email those to us at Fleck@kereport.com or 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

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In this Daily Editorial, we welcome back Dave Erfle, founder and editor of The Junior Miner Junky, to analyze the historic momentum this month across the precious metals complex and what lies ahead for resource investors.

• Historic Price Action & Sector Rebound: A look at the sharp recovery across gold, silver, and major mining equities following multi-month corrections.
• Producer Fundamentals & Cash Flows: How record earnings, expanded profit margins, and robust Q2 financial performance are attracting generalist capital.
• Lagging Silver & Junior Valuation Discounts: The technical setup for silver and why high-risk juniors on the TSX Venture offer substantial relative value.
• Portfolio Strategy & Capital Rotation: Tactical perspectives on taking profits in outperforming developers and rotating into under-the-radar opportunities.
• Critical Minerals & Base Metals Exposure: Assessing the market’s growing appetite for strategic assets, government-backed critical minerals, and copper fundamentals.

Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter – https://www.juniorminerjunky.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.

Saf Dhillon, President & CEO of iMetal Resources, Inc. (TSXV: IMR) (OTCQB: IMRFF) (FSE: A7VA), joins me to introduce the company, infrastructure advantages, prior drill results, and the exploration strategy moving forward at their flagship Gowganda West Project in Ontario, Canada.

Gowganda West borders the Juby Deposit, operated by McFarlane Lake Mining, and it is located within the Shining Tree Camp area in the southern part of the Abitibi Greenstone Gold Belt about 100 km south-southeast of the Timmins Gold Camp. 

This greater geological trend is famous for gold mineralization and meaningful deposits, and the company has already made a gold discovery. Future drilling will be focused along trend of the 2023 discovery drill hole # IMGW23-04, that returned 48.5m of 0.85 g/t Au starting at 316.5m.

2025 Drilling Highlights:

• A total of 2,640 metres were completed in 6 holes to expand the mineralized footprint of IMGW23-04 along strike and up and down dip.
• McFarlane Lake Mining Limited, contiguous to the northwest has identifed a parallel zone to it’s Juby Zone within the regional Ridout-Tyrrell Deformation Zone, the 826 Zone, which appears to trend into the area of the 2025 drilling.

On August 18 the Company confirmed that its previously announced non-brokered private placement closed and issued 30,000,000 Units, at a price of $0.10 per Unit, for gross proceeds of $3,000,000.  The Offering included participation by McFarlane Lake Mining Limited (CSE: MLM) in the amount of 14,200,852 Units. As a result, MLM now holds approximately 19.9% of the outstanding common shares of the Company.

In connection with the Investment, the Company and MLM have entered into an investor rights agreement pursuant to which MLM is entitled to nominate one member of the board of directors of the Company and to advise the Company on exploration activities at the Company’s Gowganda West property.

The two companies are currently in the process of sharing data, and in conjunction with outside technical advisors, are developing the plan for this year’s drill program.

If you have any further questions for Saf about iMetal Resources, then please email those in to me at Shad@keport.com.

Click here to follow the latest news from iMetal Resources Inc

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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.

In this Company Update, Andrew Thomson, President and CEO of Palamina Corp.  (TSX.V: PA | OTCQB: PLMNF), joins me to discuss the broader political and regulatory landscape evolving across Peru and the upcoming spin-out of Colt Silver.

• Peru’s Shift in Mining Sentiment: A look at how the latest presidential administration is stabilizing regulatory frameworks, reducing bureaucratic bottlenecks, and restoring confidence for foreign resource investment.
• Colt Silver Spin-Out Mechanics: An overview of the path toward completing the transaction, key shareholder meeting timelines, post-transaction capital structure, and planned maiden drill programs.
• Palamina’s Core Exploration Assets: Updates on the Usicayos gold project, surface work progress, and upcoming drill priorities.

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

Click here to visit the Palamina 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.

Headwater Gold Inc. (CSE: HWG)

Major Earn-In Expansion: Newmont Partnership Deepens Across Western US Portfolio

• Strategic Expansion: Newmont exercises option to earn into the Jupiter project, expanding tier-one backing across Headwater’s portfolio.

• Phase 2 Underway: Significant drill programs advancing at Spring Peak and Lodestar funded by partner capital.

• Low-Dilution Leverage: A funded exploration model allowing extensive discovery drilling while protecting share structure.

Listen to the Full Headwater Gold Interview

Versamet Royalties Corp. (TSX: VMET)

Record Q2 Metrics and Predictable Royalty Cash Flow Through 2027

• Financial Outperformance: Setting fresh quarterly records for revenue and operating cash flow across precious and base metal assets.

• Organic Growth Runway: Key producing operator updates providing tangible visibility into multi-year revenue compounding.

• M&A Discipline: Leveraging a robust balance sheet to evaluate counter-cyclical, accretive royalty acquisitions.

Listen to the Full Versamet Royalties Interview

Banyan Gold Corp. (TSXV: BYN)

Bonanza Grades and Multi-Million-Ounce Growth at the AurMac Project

• High-Grade Intercepts: Powerline North drilling uncovers bonanza gold intervals outside existing pit shells.

• Resource Expansion: Systematic infill and step-out work tracking toward a substantial upgrade on the 7M+ oz deposit.

• Infrastructure Advantage: Year-round road access and grid power driving peer-leading discovery costs in Yukon.

Listen to the Full Banyan Gold Interview

FireFox Gold Corp. (TSXV: FFOX)

Advancing Mustajärvi and Sarvi Toward Maiden Resource Milestones

• Expanding Footprint: High-grade strike extensions confirm shallow, broad mineralization along the Mustajärvi shear zone.

• Dual-Track Exploration: Concurrent exploration ramping up at the Sarvi project within Finland’s Central Lapland Greenstone Belt.

• Upcoming Maiden Resource: Drilling systematically de-risking high-grade corridors ahead of the inaugural mineral resource estimate.

Listen to the Full FireFox Gold Interview

Miata Metals Corp. (TSXV: MMET)

25,000m Drill Program Underway in Suriname with La Mancha Strategic Backing

• Major Backing: Strategic investment from top-tier institutional mining fund La Mancha cements financial runway.

• District-Scale Drilling: 25,000m campaign actively testing high-grade shear zones and open-ended greenstone targets.

• Guiana Shield Momentum: Leveraging proven regional geology adjacent to world-class multi-million-ounce deposits.

Listen to the Full Miata Metals Interview

Pinnacle Silver and Gold Corp. (TSXV: PINN)

High-Grade Underground Assays & Visible Gold at El Potrero

• Underground Drill Success: High-grade assays yielding samples up to 59.2 g/t gold and 424 g/t silver with coarse visible gold.

• Structural Continuity: Demonstrating vein continuity and depth extensions beneath historic mining levels.

• Near-Term Strategy: Fast-tracking underground mapping and drilling to build high-margin ounces.

Listen to the Full Pinnacle Silver & Gold Interview

Sitka Gold Corp. (TSXV: SIG)

Court Approves 100% Clear Creek Ownership as 7 Rigs Expand RC Gold

• 100% Consolidation: Court clears path for full acquisition of key Clear Creek property claims.

• Seven Drill Rigs Active: Aggressive exploration testing Blackjack, Saddle, and new targets across the Tombstone Gold Belt.

• Thick Intercepts: Continued delivery of wide, multi-gram gold intercepts confirming tier-one scale potential.

Listen to the Full Sitka Gold Interview

Onyx Gold Corp. (TSXV: ONYX)

Unlocking District Potential: 110,000m Campaign Expands Argus System

• Massive Drill Program: 110,000m exploration blitz ramping up to delineate multiple discovery zones.

• System Growth: Drilling at Argus confirms expansive, continuous mineralization beyond initial target areas.

• Pipeline of Targets: Multiple regional high-priority prospects slated for maiden drill testing this season.

Listen to the Full Onyx Gold Interview

EraNova Metals Inc. (TSXV: NOVA)

Robust Adanac PEA Delivers $714M After-Tax NPV & Strategic Valuation Gaps

• Compelling Economics: Positive Adanac Preliminary Economic Assessment reveals after-tax NPV of $714.4M and 23.5% IRR.

• Critical Minerals Focus: Positioned as a major North American future supplier of critical molybdenum and silver.

• Deep Valuation Discount: Significant re-rating opportunity relative to project scale, existing infrastructure, and Capex profile.

Listen to the Full EraNova Metals Interview

Q2 Metals Corp. (TSXV: QTWO)

50,000m Drilled and Key Technical Leadership Bolstered Ahead of Cisco PEA

• Milestone Reached: Surpassing 50,000m of drilling at the flagship Cisco Lithium Project in James Bay.

• Bench Strength: Appointment of seasoned technical leadership to oversee engineering and project de-risking.

• Economic Assessment Imminent: Maiden PEA workstreams accelerating toward defining large-scale spodumene economics.

Listen to the Full Q2 Metals Interview

K2 Gold Corporation (TSXV: KTO)

High-Grade Oxide Hits at Mojave Unlock Clear Path Forward

• Initial Drill Assays: Intercepting high-grade, near-surface oxide gold mineralization at the flagship Mojave project.

• Permitting Milestone: Utilizing the approved Record of Decision to systematically unlock undrilled regional target zones.

• Scalable Potential: Expanding the geological model across open mineralized trends in California and Nevada.

Listen to the Full K2 Gold Interview

Kuya Silver Corp. (CSE: KUYA)

Operational Execution, Solid Q2 Financials, and Commercial Ramp-Up

• Quarterly Execution: Key Q2 operational benchmarks achieved as processing ramp-up continues at the Bethania Silver Mine.

• Revenue Translation: Positive operational progress paving the way toward sustained commercial production and cash flow.

• Resource Upside: Untapped regional vein exploration upside positioned to complement direct mill feed.

Listen to the Full Kuya Silver Interview

Founders Metals Inc. (TSXV: FDR)

100% Antino Ownership Secured with Strong Gold Fields Partnership

• Full Asset Control: Completing 100% consolidation of the high-grade Antino Gold Project in Suriname.

• Major Backing: Tier-one strategic equity support from Gold Fields validating district scale and metallurgy.

• Drill Bit Success: High-grade assay flow continues across Upper Antino, Froyo, and shallow prospective zones.

Listen to the Full Founders Metals Interview

Kingsmen Resources Ltd. (TSXV: KNG)

High-Grade Silver Intercepts Expand Mineralization at Las Coloradas

• High-Grade Intercepts: Assays return 1.40m of 433 g/t AgEq, confirming high-grade structural continuity at the Main Area.

• Open Along Strike: Mineralization remains open in multiple directions with step-outs testing structural extensions.

• Underground Access: Historical workings and existing infrastructure facilitating low-cost target delineation.

Listen to the Full Kingsmen Resources Interview

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This week’s show connects the dots between global macro shifts and high-conviction commodity opportunities. From the Treasury’s bond market interventions and the resurgence of precious metals to the geopolitical supply crunch fueling under-the-radar oil equities, guests Mike Larson and Dan Steffens unpack where capital is rotating and how investors can position ahead of the curve. 

• Segment 1 & 2 – Mike Larson, Editor-in-Chief at MoneyShow, discusses how the recent rebound in precious metals and copper signals a lasting turn in an ongoing bull market driven by global debt trends, Treasury bond interventions, and supply-chain pressures. He also emphasizes that the broader market remains healthy due to strong rotation into sectors like energy, financials, and industrials as tech cools off. 
• Click here to find out about the upcoming MoneyShow conferences – https://www.moneyshow.com/

• Segment 3 & 4 – Dan Steffens, President of the Energy Prospectus Group, breaks down current dynamics in the oil and gas sector amid global supply risks and refinery disruptions. He emphasizes compelling growth and valuation upsides across a range of energy equities, from undervalued small caps like Riley Exploration Permian, ROK Resources, and Kolibri Global Energy to larger mid-cap players like Baytex, Crescent Energy, and Devon Energy. 
• Click here to visit the Energy Prospectus Group website for more energy market and stock analysis – http://www.energyprospectus.com/

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!

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.

I hope you all enjoy the comments and links shared throughout the week. 

Have a great weekend! 

Chris Temple, Editor and Publisher of the National Investor, joins us to review the macroeconomic trends that are moving the markets, and his outlook on gold, silver, copper, critical minerals, oil, and the related resource equities.

We start off discussing recent fiscal and monetary policy in the US and abroad. 

• Treasury Secretary, Scott Bessent, recently intervened in the Japanese Yen, but it was largely ineffectual, as was the fiscal policy to try and control the long-end of the yield curve. Both initiatives were quickly reversed by the bond vigilantes.
• New Fed head, Kevin Warsh has lost some of his political capital by failing to hike rates, as inflation has crept higher, and the tone in the market is shifting slightly from shrugging all this off, to considering the challenges ahead.
• Chris outlines that while the Fed maintains it is an independent organization, there is going to be increased coordination and alliance between the US Treasury Department and theUS central bank.

Shifting over to commodities, we discuss the strong rally throughout the month of August in gold, silver, and precious metals equities in response to those macro forces.

• Chris had warned subscribers earlier in the year that things had become overbought and gotten ahead of themselves and to fade that rally, anticipating a medium-term sector pullback.

• He pointed out the corrective move in the PM sector, was then exacerbated by the war in Iran, when many felt that would be a bullish driver for gold and silver.
• One positive he highlights is that now gold and silver have started to ignore the higher interest rates and war, and focus more on the sovereign debt loads of nations around the world that are running out of options, desperate to stem the selling of bonds, and likely going to try and inflate their way out of the stagflation.

Next we shifted over to trends within copper, and the broad basket of Critical Minerals, where Chris makes the point that one can’t paint them all with a broad brush, as some have unique fundamental or macro drivers.

• With regards to copper, he outlines that beyond the AI data center build out mania, EVs, and many popular narratives, that copper is still mostly needed for basic infrastructure build out, real estate construction, and the electrification of the developing world.
• Chris flags a few copper companies, preferring the opportunities in the advanced explorers and developers like Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF), Abitibi Metals Corp.(CSE: AMQ) (OTCQB: AMQFF), and Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF)
• As far as the smaller niche’ critical minerals sector, he reiterates that a lot of the reality is still around Chinese export controls, and the lack of viable alternatives for supply and processing in the west.
• We discuss this administration’s policy initiatives, executive orders, and funding support to help advance some domestic projects. While he concedes this is the best tailwind for extractive industries in our lifetime, he also points out that it is not nearly enough money, support, or urgency, and much of what has been announced may very well get reversed if there are sweeping changes in congress for the upcoming mid-term elections.

Wrapping up, we get into the ongoing war with Iran, continued chokepoint in the Strait of Hormuz, longer-term damage to infrastructure, and what it all means to the energy sector.

• Chris explains what has kept the oil prices more subdued than many would have anticipated considering the supply shock hitting the world, but the highlights the very wide crack spreads between oil and refined products like diesel.
• The higher prices at the gas pumps, and record diesel prices are going to pressure consumers and businesses as this year progresses, and that inflation is going to impact Fed monetary policy and interest rates in a sustained way.
• Chris remains animated by the energy stocks and is holding on to them in his portfolio.

Click here to follow along with Chris at the National Investor website.

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.

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY), joins me for another exploration update where the company reported on August 20th assay results from two additional diamond drill holes, LC-26-014 and LC-26-015, at the Company’s 100%-held Las Coloradas silver project in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico.

Drilling has now intersected the Mine zone mineralization across a minimum strike length of 106 meters, in three drill fences spaced 50 meters apart, to a vertical depth of 155 meters. The mineralization is open at depth and along strike, and includes:

1. LC-26-014 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-007, intersecting the mineralized system 90 metres down-dip of historic workings:

• 1.40 meters @ 433 g/t Ag Eq (239 g/t Ag) from 190.0 – 191.4m (drilled core length; true width not yet determined), including 787 g/t Ag Eq (435 g/t Ag) over 0.75m (190.4 – 191.5m)

2. LC-26-015 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-006, intersecting the mineralized system 96 metres down-dip of historic workings:

• 1.70 meters @ 185 g/t Ag Eq (139 g/t Ag) from 201.65 – 203.35m (drilled core length; true width not yet determined), including 438 g/t Ag Eq (336 g/t Ag) over 0.68m (202.17 – 202.85m)

We go on to discuss some of the key exploration targets at Las Coloradas, based on the various data sets from mapping, sampling, historic data, and surveys flown that their team has compiled in the prioritized targets for this season. The initial follow-up drilling has been testing deeper and stepping out around the historic Mine Target and drilling continued along trend at the DBD Target and then further along trend at Aguilar.

Additionally, other regional targets like Leona, Saddle, Silvia, and La Plata areas will be tested, to look at tying together the mineralization from the larger system. Then later this year the company will transition over to drilling a number of targets at their Almoloya Project.

If you have any questions for Scott regarding Kingsmen Resources, then please email those in at Shad@kereport.com.

Click here to follow the latest news from Kingsmen 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.

In this Company Update, we speak with Katie MacKenzie, Vice President of Corporate Development at Founders Metals Inc. (TSX-V: FDR | OTCQX: FDMIF | FRA: 9DL0). Katie provides an in-depth breakdown of the ongoing 70,000-meter exploration campaign at the flagship Antino Gold Project, recent high-grade drill results across multiple target areas, and the consolidation of 100% ownership alongside strategic investment from Gold Fields.

• Consolidating 100% Project Ownership: Key details behind acquiring full, royalty-free control over the Antino Gold Project and strengthening ties with local partners.
• Gold Fields Increases Strategic Stake: What the increased 19.9% equity position signals regarding long-term confidence in the asset and team.
• High-Grade Expansion at Upper Antino & Antino West: How recent deep and step-out drilling is confirming mineralization well below previous boundaries.
• Unlocking Scale Across Antino North & Northeast: Insights into new target discoveries and parallel structural corridors across the property package.

If you have any follow up questions or topic you would like Katie or the team at Founders to address please email me at Fleck@kereport.com. 

Click here to visit the Founders Metals website – https://www.fdrmetals.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 sit down with David Stein, President and CEO of Kuya Silver (CSE: KUYA | OTCQB: KUYAF | FRA: 6MR1), to break down the company’s Q2 financial results and operational progress at the Bethania Mine. David outlines where capital is being deployed as mine ramp-up continues, how revenue from concentrate sales is beginning to offset development costs, and what investors can expect in the second half of the year across both mine development and exploration drilling.

Key discussion topics include:

• Q2 Financial Overview: An inside look at how operating expenses and mine development costs aligned with expectations during the ongoing Bethania ramp-up.
• Revenue vs. Concentrate Inventory: Understanding the dynamics behind Q2 revenue figures and how the timing of concentrate sales impacts quarter-over-quarter comparisons.
• Treasury Strength and H2 Budgeting: How Kuya Silver plans to deploy its cash position between underground mine development and exploration drilling.
• Timeline to Free Cash Flow: A discussion on the projected timeline for achieving positive cash flow and the long-term potential for expansion at Bethania.

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

Click here to visit the Kuya Silver website – https://kuyasilver.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, I chat with Anthony Margarit, President and CEO of K2 Gold (TSX-V: KTO | OTCQB: KTGDF | FRA: 23K), to unpack the high-grade initial results from the fully funded 14,000-meter drill program at the Mojave Project in California.

• Initial High-Grade Assay Results: Anthony walks through the high-grade intercepts from the Dragonfly zone, explaining how these early holes confirm substantial near-surface grades and strong continuous mineralization across the structure.
• Stepping Out Across the East Side Trend: Discussion on current drilling shifts southward toward the Newmont target, expanding strike length, and testing under-explored corridor gaps.
• District-Scale Regional Targets: The exploration blueprint for untested property-wide zones, including the high-grade polymetallic Morningstar target and the prospective historic trenching at Flores.
• Corporate Balance Sheet & News Flow: An update on the company’s well-funded treasury, turnaround times for remaining assays, and upcoming operational milestones.

If you have any follow up questions for Anthony please comment below or email me at Fleck@kereport.com. 

Click here to visit the K2 Gold website.

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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.

Alicia Milne, President and CEO of Q2 Metals Corp. (TSXV: QTWO | OTCQB: QUEXF | FSE: 458), joins us to discuss the company’s evolution from an early-stage exploration outfit to advancing its flagship Cisco Lithium Project in the Eeyou Istchee James Bay region of Quebec.

• Strategic Leadership Expansion: Alicia discusses the rationale behind key executive appointments, including a new VP of Technical Services and VP of Environment & Regulatory Affairs, and how this strengthens in-house engineering and de-risking capabilities.
• Aggressive Drilling Milestones: An update on crossing the 50,000-meter total drilling milestone at Cisco, operating four active rigs, and executing the current 20,000-meter campaign.
• Resource Upgrades and PEA Timeline: The planned strategy for converting Inferred mineral resources into the Indicated category to pave the way for an updated MRE, a Preliminary Economic Assessment (PEA), and subsequent feasibility work.
• Treasury Strength and Flow-Through Catalyst: Insight into the company’s robust ~$70M cash balance, upcoming assay flow, and drilling plans extending through the fall and winter seasons.

If you have any follow up questions for Alicia or would like more information on any aspect of the Company please email us at Fleck@kereport.com.and Shad@kereport.com.  

Click here to visit the Q2 Metals website – https://www.q2metals.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 Daily Editorial, we are joined by Joel Elconin, Co-Host of the PreMarket Prep Show and Founder of the Stock Trader Network, to break down major macro shifts and technical setups shaping the broader markets.

• Treasury Market Intervention: Why the Treasury’s aggressive long-term bond buybacks may be signaling rising stress rather than solving structural fiscal pressures.
• The Death of 60/40 & Modern Yield Realities: How massive corporate debt issuance and high equity returns are altering traditional asset allocation.
• Biotech Mania & Algo-Driven Volatility: A breakdown of the explosive price action in Moderna and how algorithmic trading amplifies single-day swings.
• Healthcare Sector Resilience: What the sustained relative strength in healthcare ETFs signals about underlying defensive sector rotation.
• Gold & Silver Miners at Resistance: Technical levels to watch on the junior gold mining ETF as it tests critical moving averages and gap-fill zones.

Stocks & Tickers Mentioned: Moderna (MRNA), NVIDIA (NVDA), Microsoft (MSFT), Health Care Select Sector SPDR Fund (XLV), VanEck Junior Gold Miners ETF (GDXJ), Tesla (TSLA).

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.

In this Daily Editorial, we welcome back Brien Lundin, Editor of Gold Newsletter and host of the New Orleans Investment Conference, to dissect the latest macroeconomic catalysts driving the precious metals complex. Brien breaks down why recent Treasury actions reveal underlying market friction and how a shifting fiscal landscape is reigniting long-term momentum for gold, silver, and mining equities:

• Treasury Bond Buyback Dynamics: Why the Treasury’s move to double its long-dated bond purchases signaled yield control to the market and sparked an immediate rally across precious metals.
• The Reality Behind Hawkish Rhetoric: How runaway deficits, mounting debt service costs, and basic fiscal math ultimately limit the Federal Reserve’s ability to maintain high interest rates.
• The Debasement Trade Returns: Why mainstream attention is rotating back to currency debasement and what this means for broader generalist capital flows into the resource sector.
• Mining Equity Leverage & Seasonality: Insights into the strong summer rebound across precious metals equities, the leadership shown by major producers, and the setup for downstream junior outperformance.
• High-Conviction Exploration Plays: A look at active summer drilling programs and recent updates from emerging exploration companies.

Click here to learn more about the Gold Newsletter.

Click here to learn more about the New Orleans Investment Conference on October 28-31.   

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 chat with Meredith Eades, President and CEO of EraNova Metals Inc. (TSXV: NOVA | OTCQB: STXPF), to review the key results and strategic implications of the recently released Preliminary Economic Assessment (PEA) for the Adanac Molybdenum Project in British Columbia. Meredith shares insights on the project economics, the multi-phased roadmap to advance the asset, and the company’s plan to close the market valuation gap:

• Robust Project Economics and Commodity Leverage: A breakdown of the key PEA metrics, including an after-tax NPV of C$714 million and a 23.5% IRR at base case prices, and how the project expands near C$1.3 billion at current spot levels.
• Addressing the Valuation Gap and Funding Strategy: How management plans to tackle the initial capital expenditure through staged development, non-dilutive critical mineral grants, strategic partnerships, and offtake agreements.
• De-Risked Foundation via Historic Work: Why having 93% of the resource already classified as Measured and Indicated, combined with past engineering and permitting data, accelerates the timeline directly toward a Feasibility Study.
• Broader Exploration Upside and Near-Term News: An overview of upcoming catalysts, potential streaming or DSO opportunities at the Atlin Discovery precious metals targets, and early feedback from industry participants.

Click here to visit the EraNova website to learn more about the Company – https://www.eranovametals.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, we sit down with Brock Colterjohn, President and CEO of Onyx Gold Corp. (TSX-V: ONYX | OTCQX: ONXGF), to review the latest drill results and ongoing exploration across the company’s flagship Monroe-Croesus Project, located just east of Timmins, Ontario. Brock outlines how ongoing drilling continues to expand mineralization and connect multiple target zones into a cohesive, district-scale discovery.

• Progress on the 110,000-Meter Drill Program: A look at completed meterage, the volume of pending assays, and the operational cadence driving systematic expansion across the property.
• Evolution of the Argus Gold System: How recent drilling and drone magnetic surveys are tying together Argus North, Main, and West along the prolific 8-kilometer Pipestone corridor.
• High-Grade Spots within Bulk Mineralization: The strategic implications of intersecting near-surface high-grade structures within broad mineralized envelopes for future mining optionality.
• Testing Regional Targets Across Consolidated Ground: The exploration potential surrounding the historic, high-grade Croesus Mine and newly identified structural targets across the 112 km² land package.
• Resource Timeline and Treasury Strength: Onyx Gold’s strategic road map toward a potential maiden resource estimate, recent 100% claim ownership consolidations, and the current cash runway.

Click here to visit the Onyx Gold website – https://onyxgold.com/ 

Please email me with any follow up questions for Brock. My email address is Fleck@kereport.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, I am joined by Mike Burke, Director and Vice President of Corporate Development at Sitka Gold Corp. (TSX-V: SIG | OTCQB: SITKF | FSE: 1RF). We discuss the news out today announcing the court approval for the accelerated purchase of the Clear Creek property, fully securing 100% ownership. Mike walks us through the transaction, the financial terms, and how exploration is progressing on the ground with seven active drills.

Key Discussion Points:

• Court Approval for 100% Clear Creek Ownership: Insights into the accelerated cash purchase agreement, consolidating key ground at the RC Gold Project.
• Royalty Terms & Strategic Optionality: A breakdown of the 5% NSR royalty, the buy-down mechanism to 2%, and Sitka’s right of first refusal.
• Fully Funded Cash Position: How recent warrant exercises positioned the company to settle the acquisition entirely in cash without equity dilution.
• 7 Drills Turning Across Core & Target Zones: An exploration update on the ongoing 60,000 meters with a focus on the Rhosgobel expansion, Pukelman, and Eiger/Saddle targets.
• Assay Turnaround and News Flow Outlook: What investors should expect regarding laboratory timelines and steady assay results leading into year-end.

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/

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 welcome back Bob Archer, President and CEO of Pinnacle Silver and Gold (TSX.V: PINN | OTCQB: PSGCF | Frankfurt: P9J), to discuss the maiden round of assay results from the ongoing underground drill program at the past producing El Potrero Project in Durango, Mexico. Bob explains how drilling from historical underground workings provides critical data and outlines how these high-grade intercepts fit into the broader near-term production strategy.

Key Discussion Points:

• The Underground Drilling Advantage: Why closely spaced, multi-angle drilling from existing workings offers cost-effective precision and structural insight that surface drilling cannot replicate.
• Initial Assays and Visible Gold: A look into the high-grade gold and silver intercepts, including mineralization along strike and the role of visible gold.
• Phased Results and Assay Logistics: How drilling at the Pinos Cuates workings and portal areas is being systematically completed and released in batches.
• Expanding Strike and Production Path: How the underground results effectively double the known strike length and set the stage for upcoming surface delineation and mine planning.

Please email me with any follow up questions you have for Bob – Fleck@kereport.com.

Click here to visit the Pinnacle Silver and Gold website to learn more about the company and read over the recent news 

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 Introduction, we are joined by Jaap Verbaas, CEO and Director of Miata Metals Corp. (TSXV: MMET | OTCQB: MMETF | FRA: 8NQ). Jaap provides a comprehensive introduction to the company’s district-scale exploration assets in Suriname, led by the flagship Sela Creek Gold Project and the strategically located Nassau Project. Major drilling underway, new discoveries emerging, and strong backing from new strategic investors.

• Strategic Location & Belt-Scale Geology: An overview of Sela Creek’s position along the highly underexplored Guiana Shield, mirroring the prolific gold endowments of West Africa’s Birimian belt.
• 25,000m Drill Campaign: How ongoing drilling is expanding discoveries at the Jons Trend and Big Berg zones, pointing toward a significant continuous gold system.
• Testing High-Priority Exploration Targets: A look into new scout drilling and step-out targets across the property supported by the addition of a third rig.
• Strong Balance Sheet & Strategic Validation: Insights into the recent $25M+ financing, an 18-month lockup from cornerstone investor La Mancha, and upcoming near-term assay catalysts.

Any follow up questions for Yaap? Email Shad or I at Fleck@kereport.com & Shad@kereport.com. 

Click here to visit the Miata Metals website – https://miatametals.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.