In this Weekend Show, we dissect the recent sharp rebound across precious metals and evaluate whether the broader market rally has real staying power. Featuring expert technical analysis from veteran resource investor Richard Postma (Doc) and fund manager Dana Lyons (The Lyons Share Pro), this episode breaks down critical moving average tests, unfilled chart gaps in gold and mining ETFs, macro warnings in the bond market, and the accelerating rotation from overextended momentum tech into durable value sectors. 

• Segment 1 & 2 – Richard Postma (also known as “Doc”) discusses technical outlooks across precious metals, bonds, and equities. Doc analyzes recent price rebounds in gold and silver as temporary bounces within a broader corrective phase, offering insights on key technical levels, long-term bond market pressures, and his strategies for accumulation in mid-tier producer equities. 

• Segment 3 & 4 – Dana Lyons, a fund manager and editor of The Lyons Share Pro, wraps up the show providing a technical analysis of current market trends across multiple asset classes. He discusses taking a neutral stance on precious metals following recent bounces, maintains a bullish outlook on copper and energy equities, and explains his strategy of rotating out of overextended growth, tech, and semiconductor sectors into broad-market value sectors like healthcare and financials. 
• Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services – https://lyonssharepro.com/

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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 hop you all enjoy the links and comments throughout the week.

Have a great weekend! 

Akiba Leisman, President and CEO of Mako Mining (NASDAQ:MAKO) (TSX.V:MKO), joins me for a comprehensive review of all 4 company Projects, on an operational, developmental and exploration perspective.

The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua. Mako owns the Moss Mine, an open pit gold mine in northwestern Arizona, which is ramping up into commercial production. Mako now controls the permitted development-stage Mt. Hamilton Gold-Silver Project located in White Pine County, Nevada, USA. Mako also holds a 100% interest in the development-stage Eagle Mountain Project in Guyana, South America.

Q2 2026 Highlights

Financial

• $62.6 million in Revenue
• $31.7 million in Adjusted EBITDA 
• $25.9 million in Mine OCF ⁽
• $13.9 million in Net Income
• $112.9 million in Cash, Trade Receivables and Marketable Securities
• $1,996 Cash Cost ($/oz sold) 
• $2,286 AISC ($/oz sold): San Albino $1,535 and Moss Mine $3,708
• Return on Equity (“ROE”) of 36.6% and Return on Assets (“ROA”) of 23.8%

Growth

• $2.9 million in exploration and evaluation expenses ($1.4 million in areas surrounding San Albino, $1.4 million at Eagle Mountain, Guyana and $0.1 million in Mt. Hamilton)

The Company currently has a cash and gold-linked securities balance of approximately $112 million, which along with operating cash flow from their two mines, is more than sufficient to fully fund the two remaining development projects, without the need for any external capital. Over the ensuing weeks, the Company plans to unveil its plans for lowering its cost of capital, which could include a pathway for substantial shareholder capital returns.

We went on to review all the ongoing exploration work at San Albino, and Akiba outlined the development progress and next steps for growth at the Moss Mine, the permitting update and rough timeline for development at Mt Hamilton, and the permitting progress being made at Eagle Mountain.

If you have any further questions for Akiba regarding Mako Mining, then please email them into me at  Shad@kereport.com.

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

Click here for a summary of the recent news out of Mako Mining.

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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.

Roger Rosmus, Founder, CEO, & Director of Goliath Resources Ltd (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF), joins me for another exploration update on more high-grade gold drill assays returned stepping out 320 meters in the Golden Gate Zone at the Surebet Discovery on the Golddigger Property; located in the Golden Triangle, British Columbia.  

We also rapid-fire through some listener questions on the drill density of all the prior years drill programs, how that would set up a future MRE, (even though that is not the focus this year), and why they elected to focus on big step-out drilling to expand the deposit over pursuing a more costly exploration adit.

The fully funded 2026 drill program comprises approximately 50,000 meters of systematic drilling, including 7 drill rigs targeting expansion of the known gold mineralization laterally and at depth.

• 45 out of 98 planned drill holes have been completed with a total of 25,651 meters drilled in 2026.
• All drill holes completed during the 2026 drill campaign have intersected quartz-sulphide mineralization which generally corresponds to high-grade gold mineralization.
• Expansion drilling will continue to focus on extending the footprint of the Bonanza and Golden Gate Zones to the Southwest, East and Northeast.
• Directional drilling consisting of multiple holes stemming from a single ‘mother’ hole is being used on selected drill pads in order to minimize drill time and costs while increasing target accuracy. 

Drill hole GD-25-420 extended the Golden Gate Zone by 320 meters to the Northeast. The interval assayed 6.51 g/t AuEq (6.16 g/t Au and 7.27 g/t Ag) over 5.73 m, including 13.49 g/t AuEq (12.79 g/t Au and 14.12 g/t Ag) over 2.73 m, including 36.27 g/t AuEq (34.43 g/t Au and 35.17 g/t Ag) over 0.97 m consisting of a series of broad quartz sulphide veins hosted in volcanic rocks where VG-NE occurs in association with semi-massive pyrrhotite, sphalerite, pyrite and galena.

Drill hole GD-26-424 intersected the Golden Gate Zone in an interval that assayed 10.32 g/t Au over 6.00 meters, including 15.61 Au over 3.96 meters, including 33.80 g/t Au over 1.82 meters (gold only). It contained a series of quartz-sulphide veins containing multiple occurrences of Visible Gold to The Naked Eye (VG-NE) hosted in volcanic rocks. The veins contain disseminated sulphides consisting of pyrite, pyrrhotite, sphalerite, galena, and trace chalcopyrite

Drill hole GD-25-412 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate Zones.

• The Surebet Zone interval assayed 4.41 g/t AuEq (3.33 g/t Au and 61.14 g/t Ag) over 7.79 meters, including 8.47 g/t AuEq (6.58 g/t Au and 106.53 g/t Ag) over 3.81 meters within a broader interval of mineralization. This intercept contains multiple occurrences of VG-NE within quartz veins and breccias associated with disseminated galena, sphalerite and pyrrhotite.
• The Golden Gate interval assayed 4.17 g/t AuEq (3.87 g/t Au and 7.96 g/t Ag) over 3.75 meters, including 7.52 g/t AuEq (7.07 g/t Au and 11.37 g/t Ag) over 1.94 meters within a broader interval of mineralization. This intercept is characterized by several occurrences of VG-NE associated with quartz-sulphide veins
• containing pyrite, pyrrhotite, sphalerite and galena.

Drill hole GD-26-414 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate zones.

• The Surebet Zone interval assayed 2.81 g/t Au over 4.00 m, including 9.79 g/t Au over 1.00 m part of the Surebet Zone. This first interval contains multiple occurrences of VG-NE within quartz-sulphide veins and breccias with substantial calc-silicate alteration.
• The Golden Gate interval assayed 9.87 g/t Au over 5.00 m, including 65.65 g/t Au over 0.75 m part of the Golden Gate Zone. This second interval is characterized by several occurrences of VGNE associated with quartz-sulphide veins containing lenses of semi-massive pyrrhotite, galena, sphalerite, and minor chalcopyrite

We then shift to a rapid-fire Q&A session where Roger fielded a number of questions from listeners about why the company was prioritizing expanding resources with big step-outs in this year program, how the drill density over ~75% of the deposit was already at 25 meter to 50 meter spacings, how recent step-outs would still need more infill drilling next year, and why the company chose to focus its funds on more drilling this season versus pursuing the longer-process and costly exploration adit idea that had been investigated.  

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

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

Click here to follow the latest news from Goliath Resources

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Investment disclaimer:

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

In this Daily Editorial, we are joined by Marc Chandler, Chief Market Strategist at Bannockburn Capital Markets and Editor of the Marc to Market website. Marc provides a detailed assessment of recent macroeconomic data, shifting central bank policy expectations, and key technical levels to watch across major global currencies.

Key Discussion Points:

• Cooling U.S. Economic Momentum: How a string of softer inflation readings, disappointing retail sales, and weaker employment figures are dragging down the U.S. economic surprise index.
• Technical Breakdown and Key Dollar Levels: A deep dive into whether the U.S. dollar index is setting up for a bear flag breakdown toward the 200-day moving average and May/June lows.
• Fed vs. BOJ Divergence: Why interest rate expectations are shifting toward a potential rate hike from the Bank of Japan while pricing in a pause or fewer hikes from the Federal Reserve.
• Yen Carry Trades and Foreign Inflows: Analysis of the historic volume of foreign assets purchased by Japanese investors following recent currency interventions.
• Fiscal Pressures and Rising Tariffs: The broader market implications of the record July U.S. budget deficit, ongoing tariff refunds, and upcoming trade policy deadlines.
• Key Catalysts for Next Week: What to expect from China’s economic releases, Japan’s Q2 GDP, global flash PMIs, and the implementation of new U.S. tariffs.

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

Jason Jessup, CEO and Director of Magna Mining (TSX: NICU) (OTCQX: MGMNF), joins me for a review of Q2 financials and operations at the McCreedy West Mine and the expedited development pathway for the Levack and Crean Hill mines located in Sudbury, Ontario. We also discuss the larger exploration strategy across many projects, and how the company is continuing to recruit and grow a quality base of employees.

Q2 Highlights:

• In Q2 2026, Magna achieved record production with 98,446 tons of ore processed from the 700 Footwall Copper Zone at the McCreedy West copper-precious metals-nickel Mine in Sudbury, Ontario, Canada at a grade of 3.34% copper equivalent (“CuEq”) and 6.6 million CuEq contained pounds (“lbs”) based on realized metal prices in the quarter.
• The Company produced 4.5 million CuEq payable lbs in Q2 2026 and 8.6 million CuEq payable lbs in the first half of 2026. The Company continues to expect to achieve full year 2026 guidance for all metrics, including production of 16.0-18.0 million CuEq payable lbs.
• The Company’s Q2 2026 year-to-date Total Recordable Injury Frequency Rate (TRIFR) was 0.63, compared to 3.87 during the same period in 2025, representing an 84% reduction. Additionally, McCreedy West Mine achieved a significant milestone in June 2026 by completing one year without a recordable injury.
• During Q2 2026, Magna generated record positive cash margin³ of $8.9 million and free cash flow of $5.1 million.
• Quarterly cash costs and All-in sustaining costs (“AISC”) of US$3.76 per CuEq lb, and US$4.54 per CuEq lb, respectively. Production costs per ton processed in Q2 2026 declined by 6.9% from the prior quarter to $199 per ton.
• Exploration and evaluation expenses in Q2 2026 of $5.3 million, including $5.0 million at Levack Mine with a focus on infrastructure readiness to support early ore sources and establishing underground exploration platforms to continue drill testing the R2 Footwall Zone as well as other targets. Both the Levack Preliminary Economic Assessment (“PEA”) and the Crean Hill Pre-Feasibility Study (“PFS”) are on track to be completed during Q3 2026.
• Ended Q2 2026 with cash and cash equivalents of $40.0 million and a working capital balance of $45.3 million.
• On June 23, 2026, the Company graduated from the TSX Venture Exchange (“TSXV”) to the Toronto Stock Exchange (“TSX”). The TSX uplisting is expected to enhance the Company’s profile within the investment community, improve trading liquidity, and provide greater access to a broader range of investors.
• Subsequent to the end of Q2 2026, on July 6, 2026, the Company announced a strategic investment by Alpayana S.A.C (“Alpayana”) via a non-brokered private placement financing to purchase 62,222,222 common shares of the Company at a price of $2.25 per common share for aggregate gross proceeds of approximately $140.0 million. Upon closing, Alpayana is expected to hold approximately 19.9% of the issued and outstanding shares of the Company and closing of the Offering is anticipated during Q3 2026, subject to receipt of all required regulatory approvals.
• Magna’s Chief Financial Officer, Scott Gilbert, has advised the Company of his intention to retire by the end of 2026. Greg Huffman, Senior Vice President, Capital Markets, will formally assume the role of Chief Financial Officer upon Scott’s retirement. Greg will work closely with Scott over the coming months to support a smooth transition.

Click here to follow along with the news at Magna Mining

If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.

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

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.

Paul Colborne, President and CEO, of Surge Energy Inc. (TSX: SGY) (OTCQX: SGYEF), joins us to for a comprehensive overview of the value proposition in this leading intermediate Canadian public oil company that produces ~24,000 boepd (89% light and medium gravity conventional crude oil). Surge has a dominant operational position in two core areas in some of the most economic oil plays in North America. Its Sparky and SE Saskatchewan premium, low risk, conventional oil assets possess large reservoirs, low recovery factors, high netbacks, quick well payouts, and a significant 12+ year development drilling inventory.

As a result of continued successful drilling and waterflood results, on June 1, 2026 the Company upwardly revised its 2026 capital budget and production guidance. Surge’s 2026 exit production guidance increased from 23,000 boepd to 24,000 boepd, and 2026 average production guidance increased from 23,000 boepd to 23,375 boepd. Budgeted capital expenditures for 2026 are now estimated to be $175 million, as compared to Surge’s original capital guidance of $150 million, with $16 million of the incremental capital being allocated to additional drilling, and the remaining $9 million being directed towards accelerating Surge’s waterflood programs, primarily focused in the Sparky core area.

During Q2/26, Surge generated adjusted funds flow (“AFF”)¹ of $91.5 million ($0.92 per share), and cash flow from operating activities of $95.3 million ($0.95 per share). This represents an increase of 26 percent in AFF, as compared to Q2/25 AFF of $72.8 million, and a 69 percent increase in cash flow from operating activities, as compared to $56.3 million in Q2/25.

During Q2/26, the Company spent $32.8 million on property, plant, and equipment expenditures. On this basis, Surge generated $58.7 million in free cash flow (“FCF”)¹ in the second quarter, representing 64 percent of Q2/26 AFF.

With the Company’s longer-term primary corporate goals of maximizing FCF, enhancing shareholder returns, and reducing net debt, Surge’s Board and Management allocated Q2/26 FCF to the following initiatives:

• $12.9 million to the Company’s monthly cash dividend ($0.52 per share, per annum);
• $15.0 million towards share buybacks under Surge’s Normal Course Issuer Bid (“NCIB”), repurchasing 1,564,300 shares;
• $16.7 million reduction in net debt, reducing net debt by 8 percent during the quarter, from $213.3 million as at March 31, 2026, to $196.6 million as at June 30, 2026; and
• $10.8 million of FCF was allocated to the strategic acquisition of the Hansman Lake gas plant, centrally located in the Sparky core area, which was previously leased by the Company. The Hansman Lake plant has 14 mmcf/d of capacity and controls a significant portion of the gas produced by both Surge and third parties in the Provost/Cadogan area. This acquisition of a 100 percent owned and operated gas plant in this core operating area is expected to increase Surge’s FCF by an estimated $4.6 million annually, beginning in Q3/26.

Surge’s Q2/26 drilling program consisted of 12 gross (11.5 net) wells drilled during the quarter, comprised of the following:

• 4 gross (4.0 net) producing wells drilled in Sparky;
• 5 gross (5.0 net) dedicated injectors drilled in Sparky; and
• 3 gross (2.5 net) producing wells drilled in SE Saskatchewan.

Due to wet spring weather, only 4 of the producing wells were brought on production late in Q2/26, with the remaining wells being brought on production in Q3/26.

Paul then takes us through a high level review of their company strategy on returning capital to shareholders, their growth wedge, their hedging strategy, and key value drivers on tap for the balance of this year and looking out many years into the future.

If you have any questions for Paul regarding Surge Energy then please email those into us at Fleck@kereport.com or Shad@kereport.com.

Click here to follow the latest news from Surge Energy

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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 today’s Daily Editorial, we chat with Joel Elconin, Co-Host of the PreMarket Prep show and Founder of the Stock Trader Network, to analyze the persistent strength across U.S. equity markets and explore where capital is rotating next.

Key Discussion Points:

• Market Momentum & Technical Breakouts: A look at the velocity behind recent all-time highs in the S&P 500, why pullbacks have been minimal, and how stable interest rate expectations are fueling institutional confidence.
• The Evolution of the AI Trade: An examination of how market sentiment is shifting from penalizing heavy corporate expenditure to rewarding companies that demonstrate real efficiency gains and margin expansion through AI integration.
• Energy Demand & Infrastructure Pick-and-Shovel Plays: Discussion surrounding the massive surge in power requirements for AI data centers and why utilities, nuclear energy, and natural gas infrastructure are emerging as key beneficiaries.
• Robotics, Space, and Long-Term Market Timelines: A reality check on consumer robotics, public sentiment toward space technology, and why investors need patience when evaluating visionary growth projections.
• Evaluating High-Profile Pre-IPO Opportunities: Tactical guidance on analyzing Net Asset Values before buying into funds or holding companies with exposure to private tech mega-caps like Anthropic and SpaceX.

Stocks & Ticker Symbols Mentioned: S&P 500 ($SPX / $SPY), Microsoft ($MSFT), Alphabet ($GOOGL), Meta Platforms ($META), PowerLaw ($PWRL), Fundrise Innovation Fund ($VCX), Destiny Tech100 ($DXYZ), Tesla ($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: 

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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 Mike Burke, Director and Vice President of Corporate Development at Sitka Gold Corp. (TSXV: SIG | OTCQB: SITKF | FSE: 1RF). Mike recaps the August 10th drill results from the RC Gold Project’s Blackjack deposit, highlighting broad high-grade gold intercepts, potential underground resources, and the active exploration across multiple target zones.

Key Discussion Points:

• Breakdown of Drill Hole 132: Mike details the key intercept, including 218.6 metres of 1.25 g/t gold, and a deeper higher-grade interval, including 44.4 metres of 3.86 g/t gold.
• Underground Resource Potential: Insight into how deeper, higher-grade mineralization outside the current resource area could pave the way for a future underground resource estimate.
• Geological Significance of Hole 129: Exploring the extension of mineralization toward the Saddle zone and how this data helps connect distinct deposit areas while reducing overall waste ratios.
• Scale of Active Drill Program: An overview of operations across Blackjack, Saddle, Eiger, and Rhosgobel, plus details on the newly mobilized 7th drill rig and upcoming news flow.

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.

Mark Cruise, Executive Chairman of BP Silver Corp. (TSX.V: BPAG) (OTCQB: BPSCF), joins me for a big picture overview of the value proposition in the Company, why he joined the board and believes in the team, why he is bullish on discoveries being made in Bolivia as an emerging jurisdiction, the potential he sees across multiple targets at the Cosuño Silver Project, and then we dive into an updated exploration strategy for 2026.

The 2,000-meter Phase 2 drill program is well underway at Cosuño, and is just the first part of a broader ~8,000 m diamond drilling campaign anticipated for 2026.

The Phase 2 drill program is designed to test the broader scale potential of the Cosuño lithocap-hosted hydrothermal system and build on the positive results of the Company’s Phase 1 drill program; and will comprise approximately 20 to 24 diamond drill holes. The first drill hole is currently following up on high-grade silver mineralization intersected at the Pocañita Chica target, where discovery drilling returned 5 m grading 600.40 g/t silver, including 1 m grading 1,655 g/t silver.

We then discuss the series of other exploration workstreams that will be commencing over the next couple months, such as: the MAG Survey, IP Survey, more mapping and sampling. Together, these datasets are expected to improve significantly the Company’s understanding of the geometry, continuity, scale, and tenor of the vein and breccia systems across Cosuño.

Once this new data gets incorporated into the geological model, then it will lead into prioritizing the targets for the 6,000-meter Phase 3 drill program later this year. Tim also highlighted that Pocañita Grande will be getting its maiden drilling during the Phase 3 program, now that they have been developing roads and site access to this important target.

Click here to follow the latest news from BP Silver Corp

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Investment disclaimer:

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

In this KE Report Company Update, David Stein, President and CEO of Kuya Silver  (CSE: KUYA | OTCQB: KUYAF | Frankfurt: 6MR1), joins me to discuss the operational progress at the Bethania Silver Mine in Peru and recent sampling results from the Silver Kings Property in Ontario, Canada.

Key Discussion Points:

• Record Q2 Operations: A recap of the strong production milestones achieved in the second quarter, including a major uptick in June output, and how this momentum shapes the broader ramp-up strategy.
• Grade Trends & Mill Recoveries: Insight into the silver equivalent grade variations experienced during early-stage stope mining, metallurgical performance, and expectations as underground infrastructure expands.
• Path to 350 Tonnes Per Day: Updates on contractor onboarding, subterranean development timelines, and the operational steps required to hit phase-one processing capacity.
• Financial Position & Cash Flow: A look into the company’s fiscal health, low burn rate, and how revenue generation supports ongoing growth ahead of the formal Q2 financial release.
• Silver Kings Above-Ground Material: Key findings from recent surface sampling of tailings and historical stockpiles, highlighting the potential for near-term, low-cost value creation from silver and cobalt.

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: 

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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.

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, copper and copper stocks, critical minerals stocks, space stocks, and defense stocks.

The conversation kicks off around the strong recovery move higher in the precious metals sector, breaking up through overhead resistance and changing the tone and sentiment in the sector.

• Sean shares his outlook on what fundamentals are driving gold, silver, and the PM stocks up so suddenly, including the weakening US dollar and interest rates rolling over as market expectations turn less hawkish on the Fed raising rates.
• He is cautious that short-term economic data around inflation this week could trigger a small retracement back lower, but he also shares the reasons why he believes this move in the precious metals complex could have legs for the medium term. 
• He does not believe the Q1 peaks in the PMs were “The Top” and believes this sector has much longer to run to much higher levels over time.
• He has been constructive on the upcoming Q2 earnings which has paid off over the last couple weeks, where producer margins, revenues, and free cash flows were still very robust.
• Sean is still mostly animated by revenue-generating gold and silver producers, and cautions investors to be weary of the temptation of many pre-revenue juniors to use this bounce to raise money, diluting current shareholders as they issue more shares.

Next we dove into the incredible technical strength this year in copper as an energy metals, but contrasted that against the more tame response overall by the copper stocks.

• Sean provided some compelling stats for copper demand across many sectors, and contrasted that against the supply deficit from copper miners as an opportunity for investors to pay close attention to.

With regards to the critical minerals stocks, we have seen a solid bounce over the last couple weeks, in tandem with the other metals, pondering if this is all part of a huge metals melt-up move.

• Sean points out the geopolitical factors and supply chain constraints that are underpinning the continued interest and attractive fundamental backdrop across a range of critical minerals.
• We also discuss the significance of the US government continuing to directly support the development of key critical minerals projects and domestic processing.

Wrapping up, we touch upon the blast up higher in broad US equities markets from last week and into early this week. 

• While there are many areas of the markets doing well and providing opportunity, Sean has remained more animated by the recent rebound in the space economy stocks, as well as the traditional and next generation defense stocks.

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.

In today’s Daily Editorial, we welcome back Dave Erfle, founder and editor of The Junior Miner Junky, to analyze the recent dramatic surge in precious metals and mining stocks.

• Mining Stocks Outperform Metals: Dave Breaks down the explosive 20%+ moves in precious metals ETFs ($GDX, $GDXJ,$SIL) and explains why mining equities are leveraging gold and silver’s underlying price movement.
• Technical Breakouts & Key Resistance: Discover the chart patterns driving this rally, including bullish falling wedge breakouts, critical 18-week moving averages, and the significance of technical daily gaps.
• Macro Drivers & Inflation Outlook: Hear how weak employment data, lingering inflation, and stagflationary risks are setting up a favorable long-term environment for gold and silver.
• Disciplined Buying Strategies: Learn practical portfolio management advice on buying in tranches, avoiding FOMO, and capitalizing on market volatility without chasing overextended rallies.

Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter – https://www.juniorminerjunky.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 Charles Funk, President and CEO of Heliostar Metals (TSX.V: HSTR | OTCQX: HSTXF | FRA: RGG1). Charles shares key takeaways from the company’s Q2 financial and operating results, outlining how Heliostar continues to drive growth and execute on its operational roadmap across its core assets.

Key discussion points:

• Q2 Financial and Production Performance: An overview of record gold and silver production alongside revenue growth and cash generation during the quarter.
• Cost Controls vs. Industry Inflation: Insights into cash costs and all-in sustaining costs (AISC), comparing Heliostar’s performance against broader gold sector peers.
• Silver Production and Revenue Lag: An overview of the increase in silver production and how timing shifts in smelter payment terms impact sales realization.
• Balance Sheet Strength and Capital Allocation: A look at the company’s $43M cash position, debt-free capital structure, and reinvestment into growth opportunities.
• Development Assets and Growth Roadmap: Updates on key exploration and development targets, including the timeline for the Ana Paula feasibility study and future mine expansions.

Please email me at Fleck@kereport.com with any follow up questions for the team at Heliostar Metals. 

Click here to visit the Heliostar Metals website to learn more about the Company – https://www.heliostarmetals.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.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in 3 junior gold and copper exploration 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:

• BCM Resources Corporation (TSXV: B) – On August 6^th the Company announced that diamond drill hole TK20, currently in progress, has encountered over 550 m of strongly mineralized porphyry and intercalated skarn mineralization at its 100% controlled Thompson Knolls project, Utah. Hole TK20 is a vertical drill hole collared 208 m northeast of discovery hole TK8 that intercepted 510 ft (155.4 m) of mineralized skarn grading 0.66% Cu, 0.12 gpt Au, and 7.4 gpt Ag (please refer to a Company news release dated May 24, 2023 for more information). Drilling of TK20, currently at a depth of 4,062 ft (1,238.4 m), is ongoing in mineralized rock. 

• PJX Resources Inc. (TSX.V: PJX) (OTC: PJXRF) – On July 23, 2026 the Company announced the close of the second tranche of their non-brokered private placement for gross proceeds of $6.3 million. This financing will allow PJX to focus on two priority discovery opportunities for critical metals and gold in an established Canadian mining district. An initial 4,000 m drill program has commenced to test for a potential Sullivan-style Sedimentary Exhalative (Sedex) critical-metals discovery on the Dewdney Trail Property. At the Zinger Property, prospecting, mapping and surface sampling for gold are underway at the Gar target in advance of receiving permits to drill a potential Reduced Intrusion Related Gold System (RIRGS) for the first time.

• Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) – On Aug. 10, the Company reported assay results that confirm the expansion of the Golden Gate Zone to the Northeast by 320 meters of the previously known gold mineralization on its 100% owned Golddigger Property Golden Triangle, British Columbia. The Golden Gate Zone remains open laterally and at depth.

Dr. Quinton Hennigh, Advisor to Goliath and Strategic Investor commented: “When I spoke with the Company prior to this drill season, they made it abundantly clear that a considerable number of the planned drill holes would test extensions of various lode systems at the Surebet Discovery. Given that there remains exceptional opportunity to grow the systems high-grade gold footprint, I was delighted to hear this. We are now seeing the impact of this strategic decision. Drill hole GD-26-420 encountered a 6.51 g/t AuEq over 5.73 meters across the Golden Gate lode in a position 320 meters northeast of its previous limit. I believe we will continue to see many further drill extensions over the course of the rest of the 2026 and the Surebet Discovery is only going to keep on growing with every drill program.”

Mr. Roger Rosmus, Founder & CEO of Goliath states: “Our team is performing like a well-oiled machine. The goal of this 2026 drilling campaign is expansion and the directional drilling being utilized is paying off with the step outs being successful. The 320-meter step out of Golden Gate to the northeast is one example and nice surprise along the way. It is worth noting the amount of visible gold to the naked eye in the drill holes since we started drilling the Surebet discovery is unique, as well high-grade gold systems are not known to have such large footprints. After over 400+ drill holes have been completed to date the system remains open laterally and at depth. Grass roots high-grade gold systems tend to get challenging to grow them. But Surebet discovery is the opposite, we are challenging the geology and having no problems growing the system with aggressive step outs. The cadence of drill holes getting to the lab for assays is ideal, and we hope to have plenty more assay results throughout the rest of the year and into 2027.”

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 they may also be site sponsors of The Hedgeless Horseman website at the time of this recording.

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.

Maura Kolb, President of Dryden Gold Corp (TSX.V: DRY) (OTCQX: DRYGF), joins us for a comprehensive exploration update at numerous areas of focus across their Dryden Gold District, in Northwestern Ontario, Canada.  We touch upon some of the recent news releases returning more high-grade and disseminated gold drill results at the Elora-Jubilee and Big Master areas along new parallel trends, the upcoming drilling at Mud Lake, a new land acquisition expanding the Gold Rock Camp trend, and various teams working on more ground truthing and surface exploration on the Hyndman and Sherridon regional targets.

We start off discussing how this year’s expanded 45,000-meter drill program that is continuing to build up the high-grade results from last year’s drill program, confirming the thesis around the 3 geological deformation faults and folds at the Elora-Jubilee and Big Master trends at the Gold Rock Camp.  There are now up to 15 parallel structures that have been delineated along this trend, and more recent results showing the geological model getting more refined.

On July 29^th the Company announced recent drill results that confirm the discovery of two new gold-bearing structures at Gold Rock. A new high-grade mineralized structure between Elora and the Big Master gold systems, which was intercepted at 250-500 meters true depth being dubbed “Elora 2”. Like the multiple mineralized hanging wall structures, this new structure has no surface expression. The mineralization is comparable to the brecciated quartz veining found at Big Master. The consistency of the structural setting and mineralization, along strike and at depth, supports the interpretation that this represents a significant mineralized corridor and not merely another hanging wall structure. A second structure was discovered in a single drill hole at the historic Paymaster target. Deeper down-plunge testing is about to commence with a second drill rig will be deployed to continue to fully define the structural controls and high-grade gold footprint at Gold Rock.

We expanded the conversation to review the potential for similar look-alike types of deposits to exist along the multi-kilometer Gold Rock mineralized trend, in a “string-of-pearls” thesis.  On July 16^th, the Company announced having received the permits to drill the Mud Lake area to test extension targets identified through its 2025 drill program and geological mapping. Surface samples collected on a high-grade shear zone similar to Elora, where a significant fold in the mineralized structure occurs, assayed 93.00 g/t gold. There is also another new area of interest that could be a look-alike zone to the Southwest of the Elora-Jubilee system along this large trend in the Gold Rock Camp.

On July 6^th the Company announced that is has entered into an option agreement to acquire 100% ownership of 123 tenured mineral claims known as the Lost Lake Property from Orebot Inc, an arm’s length party. Lost Lake is strategically located in the historic Gold Rock Mining Camp and is surrounded by the Company’s existing claims.

We touch upon the initial groundwork and drilling at the Hyndman regional area, with a lot of follow up work underway based on the exploration results released back on April 21st.   Maura reiterated the importance of the large soil sampling and channel sampling programs across their district-scale land package, and how it will inform follow up targeting, when used in concert with geophysical surveys.

Click here to follow the latest news from Dryden Gold

Click the video below highlighting the evolving geological understanding at Gold Rock:

If you have any questions for Maura, Trey, or the team at Dryden Gold, then please email them into us at Fleck@kereport.com or  Shad@kereport.com.

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

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, we explore the critical minerals sector with Howard Klein (Founder & Partner) and Matt Fernley (Partner) at RK Equity, hosts of the Rock Stock YouTube channel. Following a choppy period for commodities, the critical minerals sector is showing signs of a rebound. This discussion covers recent White House policy announcements, billion-dollar funding initiatives, and the long-term investment landscape across key battery and defense metals.

Key Discussion Points:

• Critical Mineral Rebound & Market Inflection: Examines how recent liquidations cleared leverage across lithium, rare earths, and base metals, setting up a potential rebound driven by tightening supply and demand dynamics.
• US Government Capital Injections: Reviews recent federal funding announcements, including over $2 billion in new commitments toward domestic supply chains, defense applications, and workforce education.
• The “Missing Middle” in Processing & Infrastructure: Explores the key processing and cathode manufacturing bottlenecks that remain a central challenge for Western supply chains.
• Investment Strategies in a Supercycle: Outlines how investors can evaluate project quality, balance risks across domestic versus foreign jurisdictions, and identify long-term structural opportunities.

Stock Symbols Mentioned:

• MP Materials (MP)
• Albemarle (ALB)
• Ivanhoe Mines (IVN)
• The Metals Company (TMC)
• Lithium Argentina (LAAC)

Click the following links to keep up to speed with Howard and Matt: 

• RK Equity website – https://rkequity.com/ 

• Rock Stock YouTube channel – https://www.youtube.com/watch?v=UchoS9EZvak 

• Howard Klein on X @LithiumIonBull – https://x.com/LithiumIonBull

• Matt Fernley on X  @matt_fernley – https://x.com/matt_fernley 

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.

In this Company Update, we are joined by Simon Dyakowski, President and CEO of Aztec Minerals (TSX-V: AZT, OTCQB: AZZTF), to review recent high-grade drill results from the new North Extension Zone at the Tombstone Project in Arizona.

• North Extension Zone Drilling Success: Simon details the initial drill results from the newly acquired North Extension Zone, highlighting significant high-grade gold-equivalent intercepts and what this means for project expansion.
• Pending Lab Assays & Exploration Pace: Learn about the 11 completed drill holes currently pending laboratory results, covering an extensive potential strike extension.
• Gold-Silver Mineralization Mix: An overview of the property-wide commodity distribution, balancing high-leverage gold targets with strong silver potential across various zones.
• Upcoming Catalysts & Maiden Resource Estimate: Insight into the timeline for the upcoming Maiden Resource Estimate (MRE) expected in early Q4, along with updates on ongoing metallurgical testing and extended drilling plans.

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

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

Figure 1. Plan map showing drill hole collars with Au Eq. (g/t) values from the 2025-2026 drill campaign at the Tombstone Property, southeastern Arizona. Holes reported in this release are shown in red; completed holes with assay results pending, including the eleven North Extension step-outs, are shown in green. Previously reported holes are shown in orange and 2020-2024 drill holes in white.

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.

In this Company Update, Wendall Zerb, Chairman and CEO of Red Canyon Resources (CSE: REDC / OTCQB: REDRF), joins us to discuss the latest exploration developments across the company’s mineral portfolio.

• Osiris Drilling & Expansion: An update on the 2,100-meter drilling program completed at the Camp target and plans to expand the land package around the Osiris Project.
• High-Priority Targets: A look into upcoming drill plans for the Nautilus Prime and EV targets, including key geophysical signatures and geological potential.
• Portfolio Pipeline: Insights into ongoing exploration work across secondary assets, including the Kendal project in British Columbia and Scraper Springs in Nevada.
• Capital Position & Partnership Strategy: An overview of the company’s current treasury, institutional backing, and perspective on potential strategic joint-venture partnerships.

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

Click here to visit the Red Canyon website – https://www.redcanyonresources.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.

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 Q2 2026 production 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 Production Highlights

Primary Production Metrics:

• Silver: 1,573,100 ounces
• Zinc: 23,240 tonnes
• Lead: 3,165 tonnes
• Copper: 337 tonnes

Supplemental Production Metrics:

• Silver Equivalent Production: 2,814,489 silver equivalent ounces
• Zinc Equivalent Production: 59,680 zinc equivalent tonnes

Consolidated silver production increased 17% to 1,573,100 ounces in Q2 2026 from 1,341,499 ounces in Q1 2026, with quarter-over-quarter increases at all five operations. Lead production increased 18% to 3,165 tonnes and copper production increased 9% to 337 tonnes. Compared with Q2 2025, consolidated silver production increased 11%, and zinc production increased 10%, on 9% higher consolidated tonnes milled.

The improvement was driven primarily by higher processed volumes, with consolidated tonnes milled increasing 7% to 521,956 tonnes, together with higher silver head grades at Bolivar and Porco and a marked improvement in silver recovery at Zimapan.

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.

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 plan once the permit is received in Q3 is to get this mine into initial ramp-up production by Q4 of 2026.

Wrapping up, we discussed the potential for future accretive acquisitions in the Americas.  The board and management team are open to a currently producing mine or development-stage underground mining assets, but only if the acquisition would be accretive for shareholders and if their team can unlock value in these acquired assets.

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

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.