In this Daily Editorial, we are joined by Craig Hemke, Founder and Editor of TF Metals Report, to examine the strong rebound across the precious metals sector.

Interview Highlights:

• Precious Metals Rebound: Craig breaks down the technical and fundamental forces behind the recent strength in gold and silver as key support levels hold firm.
• Macro Catalysts & Currency Moves: An analysis of recent joint Treasury and Bank of Japan interventions, their impact on the US Dollar Index, and shifting interest rate expectations.
• Technical Breakouts & Mining Equities: A look at crucial short- and long-term moving averages across metals and major mining ETFs that are shifting algorithmic trading and sentiment back to the buy side.
• Key Economic Data to Watch: A preview of upcoming economic reports, central bank policy gatherings, and macro factors that could influence market direction through the second half of the year.

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

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the value proposition that has his attention in 4 more advanced junior gold and copper exploration and development stocks, that have put out compelling news in the recent past and that have key alpha growth catalysts on tap in the medium-term.

The companies we discussed in the interview are:

• Revival Gold Inc. (TSXV: RVG) (OTCQX: RVLGF) – On August 4, the Company reported one of the highest-grade-thickness drill intercepts to date from the Joss area at the Company’s Beartrack-Arnett located in Idaho, U.S.A. This year’s 5,500-meter drilling program at Beartrack-Arnett targeted the potential expansion of high-grade underground sulphide Mineral Resources, last drilled in 2022.
• Hole BT26-255D intercepted: 3.43 grams per tonne (“g/T”) gold over 131.7 meters drilled width at 543 meters downhole; including a high-grade interval of 6.56 g/T gold over 42.5 meters drilled width at 632 meters downhole, including 11.58 g/T gold over 12.1 meters drilled width1 at 639 meters downhole.

• Westward Gold Inc. (CSE: WG, OTCQB: WGLIF) – On August 4, the Company announced assay results and mapping interpretations for the first of three trenches completed over the SSD Target (“SSD”) at the Company’s Toiyabe Hills Property in Lander County, NV. The 177-metre trench – part of Westward’s 468-metre program in advance of drilling – was completed near the Roberts Mountains Thrust and five gold zones were identified in the trench (using a cut-off of 0.14 g Au/t); including a significant sub-interval of 13.4 metres of 6.55 g Au/t, within 34.8 metres of 2.84 g Au/t. The ability to produce high-grade gold is a notable characteristic of major systems in the Cortez District.

• Miata Metals Corp. (TSXV: MMET) (FSE: 8NQ) (OTCQX: MMETF) – On July 29, the Company announced that La Mancha Resource Fund SCSp, a fund advised by La Mancha Resource Capital LLP, has via its subsidiary agreed to upsize its previously announced strategic investment in Miata accordingly. La Mancha will purchase, through a non-brokered private placement, 32,390,229 Shares at a price of C$0.41 per Share for aggregate gross proceeds to the Company of approximately C$13,279,994, to maintain its pro forma strategic investment of 19.9% of the Company.

• Red Canyon Resources Ltd. (CSE: REDC | OTCQB: REDRF | Frankfurt: I91) On July 30, the Company announced the completion of the initial phase of its planned 2,500 metre diamond drill program at its 100% owned Osiris copper–gold project in central British Columbia, originally announced on June 8, 2026. Follow-up plans include testing additional, recently upgraded drill targets.
• The Company has completed eight drill holes totalling 2,079 m at the Camp target within the Osiris Project. Based on this initial drilling, the Company interprets the Camp target to host an alkalic copper-gold mineral system with geological similarities to the Mount Polley and Mount Milligan mines in British Columbia.

Click here to follow Erik’s analysis over at The Hedgeless Horseman website

* In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.

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.

Dave Erfle, Founder of the Junior Miner Junky, joins me to review the latest price action in the precious metals sector, his technical outlook, major support thresholds, and the historical cycles keeping long-term investors grounded.  We also delve into why he recently added 3 new gold names to his retirement account, and key lessons learned from 3 heavily-weighted JMJ portfolio positions.

Key discussion points:

Precious Metals Could Be Building A Base For The Next Leg Higher: Gold, silver, and the PM stocks have essentially held at key support, and quit going down, with selling exhaustion showing up in the summer doldrums. It could be that the PM sector is just beginning to emerge from a multi-month correction within a larger secular bull market.

Technical Levels To Watch On The Gold Sector ETFs:  An analysis of key weekly support and resistance levels on both GDX and GDXJ.  Dave also points to the longer-term historical peaks for consideration, and even what price levels he considers the “all clear” threshold on if they are obtained.

Rotating Oil Profits Into 3 New Gold Positions: Dave shares that a few weeks back he cashed out some well-earned oil stock profits, and rotated them into 3 stocks within his personal retirement account (not the same as the Junior Mining Junk Portfolio).  We review the fundamental reasons, and importance of having a solid watchlist to pull from.

• Alamos Gold Inc. (TSX:AGI; NYSE:AGI)
• Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA)
• New Pacific Metals Corp. (TSX: NUAG) (NYSE-A: NEWP)

Learning Lessons From 3 Key JMJ Portfolio Positions: We discuss how his due diligence evolved on the projects, key recent catalysts, quality management teams, key stakeholders, jurisdiction diversification, share structure, and more on these heavily weighted portfolio positions.

• Montage Gold Corp. (TSX: MAU) (OTCQX: MAUTF)
• AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF)
• GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)

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. 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.

Jonathan Egilo, President and CEO of Axo Metals Corp. (TSXV: AXO), joins us for a comprehensive re-introduction to this gold, silver, and copper exploration and development company, focused on advancing and developing their San Antonio project in the state of Sonora, Mexico down the pathway towards production.  

We start of discussing the acquisition of the San Antonio Gold Project from Osisko Development Corp back on January 27^th, which was transformational for the company.  The total resources at San Antonio stand at 576koz gold (Au) and 1.37moz silver (Ag) grading 1.20 g/t Au and 2.9g/t Ag in the Indicated category, with 544koz Au and 1.76moz Ag grading 1.02 g/t Au and 3.3g/t Ag in the Inferred category across all deposit types (oxide, transition and sulphide). 

Jon points out that higher gold and silver prices today will allow for a lower cut-off grade, which will grow the resources.  Additionally the company has been conducting infill drilling, but is now stepping out with drilling to expand the know resources.  The company will be updating and releasing a Mineral Resource Estimate along with a Preliminary Economic Assessment (PEA) later in the year.  

Axo Metals announced on July 27^th that the Mexican Federal Environmental Department (“SEMARNAT”) has issued a positive decision approving the Environmental Impact Statement (“Manifestos de Impacto Ambiental” or “MIA”) for the San Antonio gold project located in the State of Sonora. This landmark environmental permit approval validates the merits of the San Antonio project, and grants the primary authorization required for the construction and operation of the mine.

Jon highlights that the team is hard at work on metallurgical testing, engineering work, and assessing what will equipment will need to be added to expand the heap leach pads and get back into production next year. After the resource update and PEA is out later this year, it will help crystallize the detailed engineering and capex needed, which is modest, considering all the brownfield infrastructure already in place from prior operations.

Axo’s second project is the La Huerta property, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-grade copper both at surface through sampling programs, and at depth through initial drilling. The Company is focused on continuing to define near-surface mineralization along the La Huerta Trend, expanding mineralization at depth, and targeting new discoveries in an underexplored district.

If you have any questions for Jon regarding AXO Copper, then please email me at Shad@kereport.com.

Click here to follow the latest news from AXO Metals 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.

Tara Christie, CEO of Banyan Gold (TSXV: BYN / OTCQB: BYAGF) breaks down initial drill results from the company’s Nitra Project, where first-pass drilling has uncovered two brand-new gold discoveries. With visible gold logged at both Roaring Fork and Seattle Creek, the team is seeing early proof of district-scale potential across their 830-square-kilometer land position.

Key Discussion Points:

• Initial Nitra Drill Hits: What the first-ever drill holes at Roaring Fork and Seattle Creek tell us about these new target zones.
• Ramping Up Rigs: Why Banyan is adding a third drill rig to expand the Nitra program toward 10,000 meters.
• Big-Picture Geology: How these new discoveries tie back to the main AurMac deposit and surrounding regional trends.
• Upcoming Catalysts: Timelines for ongoing assay flow from the 70,000-meter campaign and work toward the Q4 Preliminary Economic Assessment (PEA).

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/

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.

Glenn Jessome, President & CEO of Silver Tiger Metals (TSX.V:SLVR) (OTCQX:SLVTF), joins me for a visual construction update of the surface heap-leach mine; with commissioning and first pour targeted for December, 2027; at the El Tigre Silver-Gold Project in Sonora, Mexico.   We review the work already completed, the work yet to come, the future advancement of the underground mine at El Tigre, and the exploration program around the historic North Tigre Mine that is underway.

Key construction updates at El Tigre:

• Build out of Mexican engineering and construction team is nearing completion with a total of 166 persons on site and 100,000-man hours logged since start of construction
• Detailed engineering by Kappes, Cassiday & Associates (“KCA”) and Kappes, Cassiday del Norte S de RL de CV (“KCN) pursuant to the Engineering Procurement and Construction Management Contract (“EPCM”) for the Project is proceeding on schedule
• Procurement on long lead items is complete, including crusher plant, conveyer and stacking system, and the Merrill-Crowe plant and refinery

• Land clearing, and flora/fauna management for the total construction area is 60% complete

• Installation of construction offices has been completed

• Engineering for improvements to the 46 km road built from Colonia Morelos to El Tigre is complete. The contract to improve this road has been awarded and work has begun, with 25% of road improvements complete

• The major earthworks contract has been awarded for the heap leach, ponds and crusher platforms and these earthworks have commenced

• Comision Federal de Electricidad (“CFE”) have granted access to grid electrical power for the El Tigre Project
• Long lead items such as crusher, conveyor, stacking and Merrill-Crowe have been ordered.
• Mine commissioning and first pour on track to commence in December 2027.

We discussed the larger growth plan to keep advancing the derisking and development of the underground mine at El Tigre, moving the economics from the current Preliminary Economic Assessment (PEA) to a PFS, and some of the synergistic advantages of having a large build team and engineers on site for the surface heap-leach mine, that can then transition over to working on the underground, reducing down some of the assumed upfront capex in the PEA.

Additionally, the Company is now expanding the scope across their district-scale land package, and has been conducting exploration drilling targeting the high-potential vein systems north of the main El Tigre area, near the historic North Tigre Mine. This priority zone aligns directly with the El Tigre North Mine Design outlined in Section 24 of the Company’s recently filed PEA (dated January 20, 2026). First results will start being released to the market in the months to come.

If you have any follow up questions for Glenn regarding Silver Tiger Metals, then please email them into me at Shad@kereport.com.

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

Click here to follow the latest news from Silver Tiger Metals

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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.

Full breakdowns (and where to listen) below.

Q2 Metals – A Lithium Project That Keeps Getting De-Risked

Winter assays just wrapped, and the drill bits haven’t stopped turning.

• High-grade spodumene hits over wide intercepts closed out the 10,000-meter winter program at Cisco
• A fresh 20,000-meter summer campaign is now underway, targeting infill, resource conversion, and expansion all at once
• With a PEA coming this fall and roughly $75M in the treasury, the whole program is fully funded through the next set of catalysts

Listen: Q2 Metals — De-Risking the Cisco Lithium Project

Troilus Mining – Quebec Just Put This Project on the Fast Track

Government backing doesn’t get much more direct than this.

• Troilus was selected as one of the first projects to benefit from Filon, a new Quebec government initiative designed to speed up permitting for strategic mining projects
• 70 MW of hydroelectric power is now secured for the project through Hydro-Québec
• Detailed engineering is fully mobilized, with 40+ bid packages already out for tender across major process equipment and infrastructure

Listen: Troilus Mining — Engineering, Hydro Power & the Filon Initiative

Cerrado Gold – Production Jumped, and the Mine Life Just Got Longer

The numbers moved in the right direction, and a well-timed acquisition adds even more runway.

• Q2 production came in at 15,415 GEO vs. 11,437 GEO a year ago, with H1 production up to 28,257 GEO
• The newly acquired Falcon Properties could extend heap leach operations and add new mineable material quickly
• Full-year guidance of 50,000-60,000 GEO is holding, while a legal win in Portugal keeps the Lagoa Salgada project on track

Listen: Cerrado Gold — Q2 2026 Operations & Exploration Update

Sitka Gold – Full Control of a Multi-Million-Ounce Discovery

They just bought out their partner on the property doing all the heavy lifting.

• Sitka has moved to acquire 100% of the Clear Creek Property, home to the Rhosgobel discovery and its 2.25 million ounce inferred gold resource
• A massive 60,000-meter drill program is underway in 2026, with 45,000 of those meters dedicated to Clear Creek alone
• The RC Gold Project now hosts 1.29M oz indicated and 3.83M oz inferred gold, and it’s still growing

Listen: Sitka Gold — 100% Acquisition of Clear Creek & Exploration Update

Summit Royalties – $50 Million Just Landed for the Next Deals

A war chest built for exactly this moment in the royalty cycle.

• A new credit facility with National Bank of Canada opens up US$25M immediately, with an accordion feature that can push total availability to US$50M
• The portfolio already holds 48 royalties and streams, with 2 development-stage assets moving toward production by year-end
• Management is targeting both fresh royalty creation and accretive acquisitions of existing streams with this new firepower

Listen: Summit Royalties — $50M Credit Facility & Growth Strategy

Silver Storm Mining – The Restart Is Shipping Concentrate

From idle to producing – and backed by some heavyweight names.

• First concentrate shipments are out the door at La Parrilla, with a clear ramp-up path toward a 3-million-ounce silver-equivalent run-rate
• A 15,000-meter drill program is targeting both surface and underground extensions to replace mined ounces
• The project is backstopped by a multi-year Samsung offtake deal and major shareholders including First Majestic and Eric Sprott

Listen: Silver Storm Mining – Restart & First Concentrate Shipments

Novo Resources – Chasing High-Grade Gold in Western Australia

Two promising targets, one aggressive Phase 2 plan.

• A 2,700-meter RC drill program is underway to build on previous high-grade hits at the Clone Prospect
• Pioneer South features a 600-meter trend of outcropping gold quartz reefs with standout rock chip assays waiting to be drill tested
• The earn-in JV structure is progressing through key expenditure and operational-control milestones

Listen: Novo Resources — Phase 2 Drilling & JV Earn-In Strategy

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Got a question for any of the companies we interviewed this week – or want us to cover a company you’re following? Email us anytime at Fleck@kereport.com or Shad@kereport.com. We read every one.

In this Weekend Show on The KE Report, Shad and I set the stage with a KER QuickTake on commodity movements, central bank policy, and precious metals price action following recent Fed developments. We then feature Rick Bensignor to provide a technical breakdown of gold, silver, copper, and crude oil, alongside actionable insights into equity sector rotations and key price levels for investors. 

• Segment 1 & 2 – A replay of our KER Market QuickTake, posted Wednesday. We review the commodities market on the KER Market Quick Take, discussing key trends in precious metals, copper, oil, and critical minerals. We highlight how elevated interest rates, a strengthening US dollar, and geopolitical tensions in the Middle East continue to weigh on the metals and mining equities amid the traditional summer doldrums. 

• Segment 3 & 4 – Rick Bensignor, President of Bensignor Investment Strategies, wraps up the show by analyzing technical market trends across metals, energy, and U.S. equities. Rick breaks down key support and resistance levels for gold, copper, and oil while evaluating market breadth and the ongoing sector rotation from tech into value sectors like healthcare and financials. 
• Click here to visit the In The Know Trader website – https://intheknowtrader.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!

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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 in Canada have a great long weekend. Everyone else have a great weekend! 

In this Company Update, I chat with Mike Spreadborough, Executive Co-Chairman, and Rohan Williams, General Manager of Exploration at Novo Resources (TSX: NVO | ASX: NVO | OTCQX: NSRPF) to discuss upcoming exploration activities at the Tibooburra Gold Project in Western Australia.

• Phase 2 Drilling Campaign Overview: The guys detail a 2,700-meter reverse circulation (RC) drilling program targeting high-priority prospects to build on previous high-grade intercepts.
• Clone Prospect Expansion Strategy: Insights into step-out plans designed to test down-plunge extensions and define structural controls of near-surface gold mineralization.
• Pioneer South Target Potential: An inside look at initial drill plans for a 600-meter continuous trend of outcropping gold quartz reefs returning significant rock chip assays.
• Earn-In Joint Venture Milestones: A breakdown of project expenditure progress, operational control transitions, and broader regional exploration initiatives.
• Portfolio-Wide Exploration Roadmap: Highlights from the updated corporate presentation, including near-term catalysts, regional soil programs, and active partner-led work across Australia.

Please email me with any follow up questions for Mike, Rohan, and the team at Novo Resources. My email address is Fleck@kereport.com.  

Click here to visit the Novo Resources website to learn more about all the projects and exploration programs. 

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.

Greg McKenzie, President and CEO of Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR), joins us for an update on the La Parrilla Silver Mine in Mexico. Greg breaks down where operations currently stand following their first concentrate shipments, what the ramp-up schedule looks like heading into next year, and how their ongoing drill program fits into the broader plan.

Key Discussion Points

• Operational Ramp-Up at La Parrilla: What it took to get the plant and mine back online and the timeline to hit steady-state production.
• Cost Structure and Cash Flow: Expected all-in sustaining costs (AISC), projected margins, and the path toward the target 3-million-ounce per year silver-equivalent run-rate.
• The 15,000-Meter Drill Strategy: Where the surface and underground rigs are focusing to replace mined ounces and test fresh targets across their land package.
• Offtake and Financial Support: How the multi-year deal with Samsung and backing from major shareholders like First Majestic and Eric Sprott help backstop operations.

Click here to listen to the introduction interview with Greg. 

Click here to visit the Silver Storm Mining website to learn more about the Company

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 Daily Editorial, we chat with Joel Elconin, co-host of PreMarket Prep and founder of the StockTrader Network. With market swings picking up after a busy week of economic news, Joel unpacks the aftermath of yesterday’s Federal Reserve announcement, the latest moves in big tech, and how he’s managing risk in his own portfolio right now.

Key Discussion Points:

• Fed Decision Fallout & Rate Outlook: Joel gives his take on yesterday’s Fed meeting, why Powell’s comments rattled traders initially, and why he thinks rates might stay put much longer than the market expects.
• Forced Selling & Deleveraging Spills: A look into the recent forced liquidations across over-leveraged hedge funds, and how institutional buyers stepped in to snag heavily discounted tech names.
• Big Tech Earnings & the ETF Rebalancing Effect: Why Microsoft’s earnings rebound caused unexpected collateral damage in unrelated software stocks due to rigid index weighting rules.
• AI Market Expectations vs. Reality: Sorting out the spending hype around hyper-scalers, evaluating the “picks and shovels” trade, and why companies are realizing AI still can’t replace core human talent.
• Sector Rotations & Portfolio Strategy: Joel breaks down the move into value and defensive plays, key technical levels to watch on the S&P 500, and his rules for taking profits into market strength.

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: 

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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 sit down with TG Watkins, Director of Stocks at Simpler Trading and Editor of The Profit Pilot. TG walks us through the latest market moves, sharing his technical take on index divergences, sector rotations, and where he sees potential trade setups forming.

• AI Trade Unwinding and Market Rotation: A look at recent chop in high-flying tech and chip stocks versus equal-weight market performance, including capitulation signals and where dip-buyers might jump back in.
• Technical Signals & Moving Averages: Key indicators to watch, like the 50-day moving average, to figure out if we’re seeing a real trend reversal or just a short-term bounce.
• US Dollar & Precious Metals Outlook: How recent double-top price action in the US Dollar (USD) could give gold and silver room to breathe as they test critical support levels.
• Copper Price vs. Copper Equities: Breaking down the current disconnect between spot copper ($CPER) and copper mining stocks ($COPX), plus the long-term setup for the sector.

Click here to visit TG’s site – Profit Pilot – https://www.profit-pilot.com/

Click here to visit the Profit Pilot YouTube page – https://www.youtube.com/@Profit-Pilot 

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.

Cory Fleck and Shad Marquitz reconnect after a brief summer break to digest the latest price action across the commodity space. They take a close look at what’s driving the current market grind and where key sectors could be heading as the seasonal lull plays out.

Key Discussion Points:

• Summer doldrums in full effect: Why low liquidity and quiet trading volume are keeping precious metals and broader commodities stuck in correction territory.
• Fed policy and bond market realities: What rising ten-year yields mean for dollar strength and metals momentum.
• Gold and silver chart setups: Looking at whether precious metals are quietly building a floor or just pausing before another leg lower.
• Copper resilience versus equity lag: Why physical copper price action has stayed sturdy while copper stocks continue to drag.
• Energy market wildcards: How ongoing geopolitical tension, crude swings, and shifting supply lines affect oil, and longer term potential future demand for natural gas, uranium, and critical minerals.
• Navigating junior mining stocks: What investors need to keep in mind regarding cash burn, drill results, and tight financing conditions.

Please let us know your thoughts in the comments or through email! Our email addresses are Fleck@kereport.com and Shad@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.

Connor Pugliese, Vice President of Corporate Development for Summit Royalties Ltd. (TSX.V: SUM) (OTCQX: SUMMF), joins us to outline the value proposition from the current portfolio of 48 royalties and streams, but also the ability to grow with future transaction thanks to the announcement of US$50Million revolving credit facility.

On July 27^th, the Company reported that it has entered into a credit agreement with National Bank of Canada for a revolving credit facility with an initial commitment of US$25 million. The Facility includes an accordion feature providing for up to an additional US$25 million, subject to the satisfaction or waiver of certain conditions, for total potential availability of US$50 million.

Key terms of the Facility include:

• Maturity: The Facility has an initial tenor of three years, with Summit having the right to request an extension of the maturity date, subject to satisfaction or waiver of certain conditions and the consent of the lenders;
• Purpose: The Facility is available for working capital and other general corporate purposes (including acquisitions permitted under the Facility);
• Interest rate: Advances bear interest at the Secured Overnight Financing Rate or the Canadian Overnight Repo Rate Average, as applicable, plus a credit spread adjustment depending on the tenor of the applicable loan and 2.50% to 4.00% per annum, depending on the Corporation’s net leverage ratio;
• Standby fee: The undrawn portion of the Facility is subject to a standby fee of 0.5625% to 0.9000% per annum depending on the Corporation’s net leverage ratio;
• Financial covenants: The Facility requires the Corporation to meet certain financial covenants, including a net leverage ratio, an interest coverage ratio and a minimum liquidity amount;

Connor shares his background in the industry have created a number of royalties with Triple Flag PMs where mining companies are given much needed development capital in exchange for a royalty or stream on that project when it goes into production.  We also highlight Drews background making accretive acquisitions on existing 3^rd-party royalties and streams. The company will be pursuing both approaches for new transactions with this credit facility.

We review again the growth still available in the existing 4 producing royalties as well as the 2 development-stage royalties moving into initial production by year end but ramping up into commercial production in 2027.  Wrapping up Connor outlines the value proposition for Summit Royalties both in terms of future compounded growth metrics, as well as in comparison to royalty peers in the sector.

Click here to follow the latest news from Summit Royalties

If you have any follow up questions for Connor about Summit Royalties, then please email them into us at Fleck@kereport.com or Shad@kereport.com.

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

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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 sit down with Mike Burke, Director and Vice President of Corporate Development at Sitka Gold Corp. (TSX-V: SIG | OTCQB: SITKF | FSE: 1RF), to discuss major milestones at the flagship RC Gold Project in Yukon, Canada.

Key Discussion Points

• 100% Ownership Consolidation: Mike details the accelerated acquisition of the Clear Creek property, completing full ownership of the strategic claim group containing the Rhosgobel deposit.
• Royalty Structure and Strategy: Insights into the 5% NSR royalty on the Clear Creek property, including the option to buy down the royalty to 2% and the company’s right of first refusal.
• 60,000-Meter Drill Program Update: Progress on the active drilling campaign across key targets including Rhosgobel, Contact Zone, Saddle, Eiger, and Bear Paw Breccia.
• Assay Turnaround and Next Steps: What investors can expect regarding upcoming assay results, drill expansion plans, and progress toward an updated mineral resource estimate and PEA.

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:

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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.

[Recorded July 28, 2026]  Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us to discuss his investing outlook across multiple resource and general equity sectors in the current macroeconomic and geopolitical environment. He shares how he is managing his portfolio as it relates to gold, silver, PM stocks,  A.I. Stocks, chip stocks, value stocks, and oil stocks.  

The conversation kicks off around the precious metals sector, getting Sean’s outlook on what fundamentals are driving gold, the gold stocks, and silver.

• Sean acknowledged the bearish price action in gold and gold stocks since the tops in late January and February to present, and would like to see the PMs just quit going down and stop making lower lows.
• He points out that the world is sick of the weaponization of the US dollar, and so more central banks have been increasing their exposure to gold on their balance sheets, while diversifying out of the dollar and US treasuries.
• He is generally constructive on the upcoming Q2 earnings which has just gotten underway, where producer margins were still very robust, even despite the higher energy inputs for the quarter.
• Even if gold and silver continue to channel sideways then he still believes there are opportunities at present to pick up quality PM stocks.  

Next we dove into the rotation in the general US equities out of some of the mega-cap tech leadership and out into other value sectors of the market.

• Sectors like financials, healthcare, insurance, and companies generating large amounts of revenues from traditional businesses are providing more “certainty” in very volatile times and headlines.
• Chinese A.I. platforms and chip companies could be quite disruptive to US tech companies, and this has roiled foreign stock markets like Korea and Taiwan.
• Defense stocks, both traditional names and the next generation defense names in drones and counter-drones may be waking back up.
• A recent Trump administration executive order focused on military contractors and the government focused on sourcing parts their supply chains from domestic sources, which may be a benefit to critical minerals stocks operating in the friendly trade partner sphere of influence.

Wrapping up we get Sean’s outlook on the wild headline driving oil price movements from the $60s up to the $90s and back down into the $70s, and how that may play into current opportunities in the energy stocks.

• Sean is hanging on to his energy stocks for now, especially if they have solid fundamentals at these current prices, and pay a good dividend.
• If the geopolitical tensions do calm down again, then he would be looking at accumulating more oil stocks if the WTI price got back down close to $70 again.

Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends

.

Click here to learn more about Resource Trader

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.

Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their Q2 2026 operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina.  We discuss the increased life of mine and MDN due to the acquisition of the adjacent Falcon Properties, and the ongoing 70,000 meter exploration program, both at surface and now with an undereground drill rig. Additionally we get an update on the permitting process at the Lagoa Salgada VMS Project in Portugal and ongoing tradeoff studies for the coming Feasibility Study  at the Mont Sorcier Iron Project in Quebec.

Q2 2026 MDN Operating Highlights:

• Q2 Production of 15,415 vs 11,437 GEO in Q2 2025, 2026 first half Production of 28,257 vs 22,600 GEO in 2025
• Heap leach production improved to deliver 9,981 GEO in the quarter
• Underground development work continued; leading to increased production for H2/26
• CIL plant continues to process a blend of stockpile material with an increasing mix of ore from underground operations, resulting in total production of 5,434 GEO in Q2
• Acquisition of Falcon Properties has the potential to extend Heap Leach operations based on historical drill results.
• Combined with the existing exploration program, the acquisition is expected to position the mine to add new mineable material quickly

• Full year production guidance of 50,000-60,000 GEO maintained

Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the combination of heap leach and underground gold equivalent ounce production for the second quarter. He also highlighted the advantages of the Falcon Properties acquisition, and how it adds years to the existing heap leach mine life, as well as substantial exploration upside.  We discuss the key objectives from the ongoing 70,000 meter drill program will be looking to extend the project mine life in a substantial way and find new high-grade areas, at surface and underground, for future mine sequencing.

On June 17^th, the Cerrado gold announced that its wholly owned subsidiary, Redcorp – Empreendimentos Mineiros, Lda. (“Redcorp”) has been granted the injunctive relief it sought in connection with the opinion of the Portuguese Environmental Agency (Agência Portuguesa do Ambiente – “APA”). Granting of the injunction has the effect of suspending the effects of the APA opinion while the legal action commenced by Redcorp to overturn APA’s opinion continues to progress. This decision ensures that Redcorp continues to hold its concession contract and PIN classification for the Lagoa Salgada project valid and in good standing.  Mark said the board and management team remain very constructive that a resolution will be found and were pleased that the court agreed with their position.

On July 15^th the Company announced that it has elected to extend the completion date of the Bankable Feasibility Study at its Mont Sorcier high grade iron project in Quebec, led by Voyager Metals, a 100% owned subsidiary of Cerrado Gold, to review numerous optimization and trade off opportunities that have been identified during the BFS process as having the potential to materially enhance the overall value of the project. 

Key Optimization Focus Areas Include: Enhanced Mine plan to reduce Overall Strip Ratio, Tailing Dam Construction, CAPEX and OPEX review in light of Ongoing Regional Inflation, Trade-off in Concentrate Quality vs Premium Price.

We wrap up discussing the underappreciated current valuation that the company is receiving for the producing MDN mine in Argentina, for both the development-stage Lagoa Salgada and large Net Present Value of the Mont Sorcier Project.

If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.

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

Click here to see the latest news from Cerrado Gold.

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.

Justin Reid, President and CEO of Troilus Mining Corp. (TSX: TLG) (OTCQX: CHXMF) (FSE: CM5R), joins me for a comprehensive #development update on all the derisking work going on with detailed engineering, the power has been secured with Hydro Quebec, the Company has been selected by Quebec for the New Filon Initiative which will expedite permitting, and an update on near-mine and regional exploration at the Troilus Copper-Gold Project located in northcentral Quebec, Canada. 

Project Execution Progress Highlights

• Detailed Engineering fully mobilized across process plant, infrastructure, site layout, 3D modelling and procurement support.

• More than 40 bid packages have been issued for tender or are under technical and commercial evaluation, covering major process equipment, infrastructure, site services and enabling works.

• Initial enabling infrastructure selections made for key water treatment and site support systems.

• Major process equipment package progressing through final selection, representing an important upcoming milestone for Detailed Engineering and construction planning.

• Geotechnical field drilling program completed, supporting foundation design, site layout, infrastructure planning and earthworks.

• Independent third-party reviews of process plant design, Basic Engineering assumptions and capital cost methodology completed, with no material issues identified.

On June 10, 2026, Troilus Mining announced that it recently welcomed representatives from the Government of Québec to the Troilus Copper-Gold Project in north-central Québec for the official announcement of the allocation of 70 megawatts (“MW”) of hydroelectric power to the Project.

On July 27^th, it was announced that the Troilus Project has been selected by Québec’s Minister of Natural Resources and Forests, the Honourable Kateri Champagne Jourdain, as one of the first projects to benefit from Filon, a specialized support service established by the Government of Québec to enhance government coordination and support the advancement of strategic mining projects through the provincial permitting process.

Announced as part of Québec’s 2025-2031 Strategy for the Development of Critical and Strategic Minerals, Filon is designed to strengthen coordination among government ministries and agencies involved in the authorization process for qualifying projects. The specialized support provided through the Filon initiative comes amid broader efforts by the Governments of Québec and Canada to improve the efficiency, clarity and predictability of regulatory processes for major projects through a dedicated team of mining specialists, the specialized support facilitates communication between project proponents and the government ministries and agencies responsible for issuing permits and authorizations, while maintaining Québec’s rigorous environmental review framework.

Wrapping up we discussed the ongoing 40,000 meter drill program that has been focused on near-mine resource growth, high-grade target definition, and regional exploration across its 435 km² land package. Drilling is progressing on a combination of mine-plan optimization targets and previously identified regional opportunities.

If you have any questions for Justin regarding Troilus Gold, then please email them over to me at Shad@kereport.com.

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

Click here to follow along with the latest news from Troilus Gold

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. 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 Daily Editorial, Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets, joins the show to provide an insider’s view from the trading desk on the latest developments across the global commodity space. Darrell breaks down key dynamic shifts in major commodity markets, including crude oil, natural gas, base metals, and precious metals:

• Energy Volatility & Crude Oil: A look at why crude oil prices are swinging sharply, how geopolitical news continues to dominate the headlines, and the underlying fundamental factors shaping current risk premiums.
• SPR Inventories & Supply Realities: Analysis of the persistent drawdown in Strategic Petroleum Reserves and what prolonged inventory declines could mean for long-term supply stability.
• Natural Gas & Global LNG Flows: Discussion surrounding current Henry Hub pricing, seasonal demand patterns, and how maintenance schedules are impacting North American LNG export capacity.
• Copper & Base Metal Fundamentals: An evaluation of copper’s steady floor, domestic inventory movements, and the potential implications of impending Department of Commerce decisions on copper tariffs.
• Precious Metals & Macro Sentiment: Insight into gold and silver’s historic price swings, current support levels, and how institutional desk positioning is adapting to broader global economic uncertainty.

Click here to learn more about Bannockburn Capital Markets  – https://www.bannockburnglobal.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.