Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSX: SCZ) (NASDAQ: SCZM) (FSE: 1SZ), joins me to review the acquisition of a 500 tpd mill to be dedicated to their San Lucas ore-sourcing business; which will then free up milling capacity at their 3 other mining complexes in Bolivia. In addition, we discuss the growth on tap at their Zimapan Mine in Mexico, the near-term production that should begin by year-end at their Soracaya Project, and the potential for future project acquisitions.

On September 18th, the Company announced the acquisition of a 500-tonne-per-day (“tpd”) milling facility located in Bolivia, comprising two 250-tonne-per-day processing circuits, each equipped with selective flotation systems for the recovery of lead and zinc with high-grade silver contents. The newly acquired facility will be solely dedicated to processing ore sourced through the Company’s wholly-owned Bolivian subsidiary, San Lucas, providing additional milling capacity to support continued expansion of its third-party ore-sourcing business.

By transitioning materials from San Lucas to the acquired facility, Santacruz will free up capacity at its existing three mine processing facilities at Bolivar, Porco, and Caballo Blanco, allowing the Company to advance its mine development plans and increase production from its own operations in Bolivia without internally competing for available processing capacity.

This milling facility is expected to be commissioned during the fourth quarter of 2026 and to reach commercial production by year-end 2026. The total investment in the milling facility is expected to be approximately US$14 million, inclusive of acquisition, commissioning and all costs required to bring the facility to commercial production.

Next we shifted over to the combination of exploration success at the Level 960 and the improved efficiencies at the Zimapan Mine in Mexico.  Operations will be stepping up over the next few quarters from processing higher grade material at better costs.

Additionally, the operations team is advancing development and operational readiness at their silver-dominant Soracaya mine, where there is already a decline ramp into this project with initial stope access in 2 areas. The company has been working on the optimization plan and getting equipment lined up to start mining.  Once the permit is received in the near-term, then the plan is to get the mine into initial ramp-up production by December of 2026. Full production will begin in 2027 with the potential to add another 2-3 million ounces of mostly silver contribution to the company’s production profile.

Wrapping up, we discussed their guidance this year for just over 10 million ounces of silver equivalent production, and the delta in their lower valuation compared to other mid-tier silver producing peers.  Arturo highlights their clean balance sheet, lack of royalites or stream hindering financials, and the potential for future accretive acquisitions in the Americas; in addition to the growth initiatives at all their current mines that could be catalysts for a rerating higher.

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

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

Click here to follow the latest news from Santacruz Silver

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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.

A stark divide is opening up between real-world commodity supply constraints and short-term paper market sentiment. In this comprehensive Weekend Show, Brien Lundin (Editor of Gold Newsletter) breaks down the institutional momentum emerging from the Beaver Creek Precious Metals Conference, explaining why gold’s underlying drivers represent the strongest setup since the 1970s despite bond yield volatility. Then, Dan Steffens (President of the Energy Prospectus Group) uncovers the severe disruptions rattling the crude and fuels supply chain, from Middle Eastern pipeline strikes and European refinery deficits to a looming North American natural gas squeeze. Both Brien and Dan share a number of companies you should have your eye on. 

• Segment 1 & 2 – Kicking off the show, Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, recaps the Beaver Creek Precious Metals Conference and characterizes the sector as being in a strong, fundamentally driven bull market. He analyzes the relationship between rising bond yields and market volatility, examines corporate trends such as spinouts, strategic investments, and toll milling, and highlights several promising junior mining stocks. 
• Click here to learn more about the New Orleans Investment Conference on October 28-31. – https://neworleansconference.com/korelin/    

• Segment 3 & 4 – Dan Steffens, President of the Energy Prospectus Group, analyzes the fundamental drivers shaping current energy markets, examining how geopolitical conflict, pipeline disruptions, and refinery bottlenecks impact crude oil, refined fuels, and natural gas supplies. He also addresses the disconnect between commodity prices and equity valuations, highlighting key investment and growth opportunities across large-cap producers, oilfield services, and undervalued small-cap stocks. 
• Click here to visit the Energy Prospectus Group website for more energy market and stock analysis – http://www.energyprospectus.com/

If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!

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Investment disclaimer:

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I hope you all have a great weekend and enjoy all the comments and links shared each week. 

In this Daily Editorial, Cory and Shad sit down with Marc Chandler, Chief Market Strategist at Bannockburn Capital Markets and Editor of the Marc to Market website, to examine the latest shifts across global bond markets, central bank policy expectations, and foreign exchange movements.

• Fed Rate Expectations: How recent commentary from Federal Reserve officials and shifting economic data have altered market probabilities for upcoming interest rate decisions.
• Labor Market Dynamics: Why recent employment figures and significant downward revisions highlight a cooling job environment despite low weekly jobless claims.
• Global Yield Divergences: Key comparisons between US Treasury movements and international bond yields, with a focus on fiscal and political pressures in Europe.
• US Dollar Resiliency: What is driving the continued breakout in the greenback and how interest rate differentials impact major currency pairs.
• Macro Drivers vs. Election Noise: Why core economic fundamentals like inflation and growth will matter far more to financial markets than upcoming political headlines.

Click here to visit Marc’s site – Marc To Market – https://www.marctomarket.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 Introduction, I welcome Dan Sutton, CEO of Syntholene Energy (TSX-V: ESAF, OTC: SYNTF), for an overview of the company’s proprietary technology, ongoing operations, and commercial path to market within the synthetic fuel sector.

• A Rapidly Expanding Sector: An overview of why synthetic fuels are positioned to grow from roughly $15 billion today to more than $400 billion by 2035, and why synthetic hydrocarbons represent a massive structural shift away from traditional fossil extraction.
• Targeting the Aviation Sector First: Why kerosene and jet fuel serve as the company’s highest-margin beachhead market, and why aviation is uniquely suited for drop-in synthetic solutions compared to other transportation sectors.
• Cracking the Hydrogen Cost Barrier: How the company’s proprietary thermal hybrid production process combines abundant geothermal heat and power to tackle the primary cost driver of synthetic fuels.
• Operational Success in Iceland: Key takeaways from the rapid construction of the demonstration facility, initial hydrogen production metrics, and the ongoing independent technical review with Imperial College London.
• Regulatory Tailwinds and Commercial Mandates: What the upcoming 2030 airline consumption quotas in Europe and the UK mean for fuel suppliers, off-takers, and future project economics.
• Scale-Up Blueprint and Project Economics: An outline of the modular commercial footprint, traditional project-level debt financing structures, and targeted 65%+ EBITDA margins.
• Near-Term Catalysts on the Horizon: What investors should monitor next, including third-party validation results, feedstock power purchase agreements, and binding commercial offtake negotiations.

Please email me with any insight you have on the synthetic fuel market or questions for Dan. 

Click here to visit the Syntholene Energy website to learn more about the company. – https://syntholene.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.

Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us for a wide-ranging discussion where he shares his key takeaways from the Beaver Creek Precious Metals Summit, as well as opportunities he sees in gold, silver, and copper stocks.

We start off getting insights into how Sean approached interviewing the companies he met with, the primary trends he noted with the producers and developers, and also some red flags he looks for to help filter through all the companies.  This ties into his broader portfolio management strategies.

Sean is still mostly animated by revenue-generating gold, silver, and copper producers, but still sat down with developers with a line of sight towards near-term production.

• We kick it off reviewing how higher oil and diesel prices may effect input costs in many producers much less than some analysts would anticipate.
• He shares how he views low-cost producers versus high-cost producers that may have a plan to expand or improve efficiencies to bring costs down.
• We delve into companies that have had relative strength versus remaining relative laggards, what the market is telling us about these stocks or if they are just underfollowed, and if that could presents any opportunities.
• He discusses the wide margins of the miners, and his views on different capital deployment and return to shareholder options that companies have in this strong metals price environment. 
• We contrast companies that want to grow organically versus those that may be inclined to use their strong balance sheets to make acquisitions.
• Sean talked about the unique point in time where some juniors actually want to move forward into production on their own, and that some companies actually don’t want to be taken over until they have the chance to further unlock their value proposition.
• We review the risks associated with different company strategies, and tie it back to the management team’s experience and ability to execute.

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 Substack reports:

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.

On this Daily Editorial, I am joined by Dana Lyons, Fund Manager and Editor of The Lyons Share Pro. Dana shares the latest readings from his proprietary quantitative and technical models, breaking down where capital is rotating across commodities, precious metals, US equities, and international markets.

Key Discussion Points:

• Broad Commodity Bull Market: Why the broader commodity complex appears poised for another major leg higher in the multi-year cycle, which sectors are leading, and how pullbacks present buying opportunities.
• Copper Strength and Key Levels: A look at the resilience of the copper market, how higher lows continue to support technical momentum, and what kind of consolidation would offer a prime setup to add exposure.
• Precious Metals Targets: An analysis of the technical levels in gold and silver, why Dana’s models triggered near-term hedging, and the specific downside retracement zones to watch before the next sustained rally.
• Historic Divergence in US Equities: The concerning signals flashing beneath the surface of the S&P 500, including historic underperformance in equal-weight indices compared to large-cap benchmarks.
• October Seasonality and Election Volatility: How midterm election cycle dynamics and seasonal patterns typically drive October price swings, and how to position ahead of potential year-end strength.
• International Equities Losing Relative Strength: Technical breakdowns appearing across European and developed global averages, and whether international equities can decouple from broader US weakness.

Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services – https://lyonssharepro.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.

Roger Rosmus, Founder, CEO, & Director of Goliath Resources Ltd (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF), joins me for another exploration update at their Surebet Discovery on the Golddigger Property; located in the Golden Triangle of British Columbia.  We review that 48,443 meters were drilled, in 97 holes, utilizing 7 drill rigs, turning 24 hours a day, for 94 days.

The 2026 drill program at the Surebet discovery has exceeded expectations with multiple successful large step-out drill holes, maintaining 100% hit rate, and with abundant occurrences of Visible Gold to the Naked Eye (VG-NE).

• 83 holes drilled in 2026 are still pending for assays that should provide a steady stream of news flow into the new year.

The focus of this year’s drill program was on expansion and pushing the limits of the geological model.  The process has proved successful with a number of high-grade gold drill assays already returned when doing substantial 100-meter to 700-meter step-out drilling into the Bonanza and Golden Gate Zones.   Additionally, a new zone of mineralization likely amenable to bulk-tonnage mining methods, has also been identified between those 2 larger zones, dubbed accordingly the “Big Bulk Zone.”

Over 200,000 meters have been drilled to date at the high-grade Surebet gold discovery, and 412 holes out of 483 (85%) contain VG-NE that clearly demonstrates the continuity and predictability of this expansive gold-rich system that remains wide open.  There will be a steady stream of assays being reported in the months to come that continue to infill and expand the deposit at the Surebet discovery.

Click here to follow the latest news from Goliath Resources

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.

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

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.

Today we are joined by Joel Elconin, co-host of the PreMarket Prep Show and founder of the Stock Trader Network, to unpack the stark divergence unfolding across broad market indices and key industry sectors. While headline indices remain buoyant, underlying price action reveals aggressive rotation and significant dispersion under the hood.

Key discussion topics:

• The Dichotomy in Market Breadth: The headline S&P 500 has spent two months moving sideways, but equal-weight indices like the RSP have steadily deteriorated for six weeks. We look at whether this persistent crowding into mega-cap tech represents genuine safety or underlying market fragility.
• Bond Yield Shifts and the Intraday Tech Rebound: A fresh multi-year low and subsequent green reversal in the 20+ year Treasury bond coincided with an explosive intraday recovery across semiconductor names. We explore what fixed-income volatility is signaling for risk assets.
• AI Demand vs. Stretched Valuations: Micron delivered strong guidance and staged an impressive reversal off session lows, reigniting momentum in enterprise AI hardware leaders. We discuss whether exponential earnings growth can continue to justify elevated multiples.
• Macro Data and Midterm Election Jitters: With labor numbers ahead and political uncertainty looming, market participants continue to look past economic headlines. We examine why technical price action and dip-buying behavior are overpowering macro ambiguity.
• Sector Deterioration in Rate-Sensitive Names: From mortgage rate pressure slamming homebuilders to tightening margins dragging down financial institutions, rate sensitivity is exacting a heavy toll. We assess the risks emerging across housing, healthcare, and lagging energy equities.

Stocks and ETFs mentioned: SPY, RSP, TLT, MU, NVDA, MSFT, AMZN, AVGO, AAPL, ACN, XHB, XLE, USO, XLV, XLF

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

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

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

• The KE Report: https://kereport.substack.com/
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Investment disclaimer:

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

Another KER Market QuickTake, this time with live charts! Cory and Shad dive into the disconnect between packed conferences (MIF and the Precious Metals Summit in Beaver Creek) and sluggish market action, dissecting where valuations sit today and what the charts reveal across key commodity sectors.

• Beaver Creek Sentiment vs. Market Reality: A look inside the atmosphere and record participation at the summit versus current price action, illustrating why an abundance of corporate stories demands disciplined selectivity.
• Valuation Disconnects and the SpinCo Trend: Why legacy projects with established ounces appear overlooked while new spin-outs gain traction, and how backfilling market caps with fresh results is separating real value from promotional noise.
• Gold and Gold Equities Testing Key Moving Averages: A review of technical retracements, critical support bands, and the diverging performance between major miners and higher-risk juniors.
• Silver and Junior Silver Miners Under Pressure: An evaluation of essential support thresholds, declining trading volume, and the indicators that could signal a potential near-term reversal.
• Copper Strength vs. Lagging Producer Stocks: How copper futures continue to show technical resilience while underlying copper equities struggle to match the metal’s pace.
• Critical Minerals and Uranium Chart Setups: A breakdown of rare earths slipping beneath long-term moving averages, alongside uranium’s quieter news cycle and evolving contrarian setup.
• Energy Equities Navigating Geopolitical Headwinds: Why upstream oil and gas producers have pulled back despite ongoing Middle East tensions, and what the technicals signal for cash-flow-focused investors.
• M&A Outlook and Flight to Quality: How corporate balance sheets and fall deal-making dynamics could rotate capital back into standout developers and producers.

Summary of Stock & ETF Symbols Mentioned: GDX, GDXJ, SIL, SILJ, CPER, COPX, COPJ, REMX, URNM, XLE, XOP

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.

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Underground Alpha, joins me for our monthly longer-format discussion on macroeconomic factors moving the markets, his key takeaways from the Precious Metals Summit in Beaver Creek, CO; and his portfolio management strategies in select gold, silver, and copper stocks.

We start off reviewing the themes and companies that had his attention at last week’s PM Summit in Beaver Creek.

• Nick addresses the encouraging sentiment and companies focused on execution of their key workstreams, versus worrying about whether we are in a bull market.
• There has been a steady flow of sector news the last few weeks and Nick highlighted some recent news from Empress Royalty Corp. (TSXV:EMPR)(OTCQX:EMPYF), Au Gold Corp (TSXV:AUGC), Southern Cross Gold Consolidated Ltd (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF), and Banyan Gold Corp. (TSXV:BYN) (OTCQB: BYAGF) that stood out to him leading into and during the conference.
• We discussed the rising number of spinouts and new spin-cos being created or contemplated, and Nick highlighted:
  • Riverside Resources Inc. (TSX-V: RRI) (OTCQB: RVSDF), getting ready to spin out Ravena with their Mexican assets, after successfully spinning out both Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) and Blue Jay Gold Corp. (TSXV: JAY) (OTCQB: JAYGF)
  • Latin Metals Inc. (TSXV: LMS) (OTCQB: LMSQF) and Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) are both considering spinouts of assets which are not getting much value in their portfolios at present.
  • Aldebaran Resources Inc. (TSX-V: ALDE, OTCQX: ADBRF) just successfully spun out Centauri Minerals Inc. (TSXV: CENT).

Next we pivoted to the continued strength in copper throughout this year.

• Nick pointed out that after substantial inflows of copper into the US to get in front of potential tariff news from the Trump administration, that the decision not to put a tariff on the red metal, in lieu of higher diesel and inflation readings, did not cause a collapse in copper like it did last summer.
• He highlighted Ero Copper Corp. (TSX: ERO, NYSE: ERO) as a name he is still holding, and flagged Koryx Copper Inc. (TSX-V: KRY) as one of the best meetings he had in Beaver Creek and that he strongly considering a position in it.

Wrapping up we comingled thoughts on gold, silver, and the macroeconomics at play:

• He remains encouraged that we’ll see gold hold above $4,000 and would like to see the yellow metal stay above $4,175.
• He sees more potential weakness in Silver and wouldn’t be surprised to see it pull back down to retest $55 again, before moving back higher again.
• Nick quickly summarized the macro movers citing trends in the US Dollar, inflation, oil and diesel, geopolitics, and rising short-term interest rates at the short-end of the yield curve due to Fed policy contrasted against flattening rates at the long-end of the curve.

Click here to follow Nick’s analysis and full suite of offerings at Digest Publishing

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

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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.

Tim Shearcroft, CEO and Co-Founder of BP Silver Corp. (TSX.V: BPAG) (OTCQB: BPSCF), joins us to review the first 2 assay results and best intercepts to date from the ongoing Phase 2 drill program underway at the Cosuño Silver Project in Bolivia. This Phase 2 drilling forms the first part of a broader ~8,000 m diamond drilling campaign anticipated for 2026.

HIGHLIGHTS

• Hole CO-0013 intersected a high-grade feeder structure grading 314.3 g/t silver, 2.62% bismuth and 0.74% antimony over 3.0 m, equivalent to 1,328.8 g/t AgEq, within a broader 7.0 m interval grading 168.8 g/t silver, 1.20% bismuth and 0.35% antimony, equivalent to 634.1 g/t AgEq.
• The high-grade silver-bismuth-antimony mineralization associated with the silver system, demonstrates the potential for multiple critical and strategic metal by-products at Cosuño.
• To date, 20 drill holes have now been completed, and additional assay results will be released as they become available.

Within a lithocap system, feeder structures can represent important conduits for mineralizing hydrothermal fluids and may connect to broader vein systems at depth. Importantly, elevated bismuth and antimony were also identified in Phase 1 drilling at Cosuño, including in holes CO-0008 and CO-0009. The increasing silver grades observed down-hole in these holes and in the Pocañita Chica area are particularly encouraging and may potentially indicate that higher-grade mineralization continues down dip and at greater depth. Testing this possibility will be an important focus of the ongoing exploration program in Phase 2 and Phase 3.

The Company also reported that the high-resolution drone magnetic (“MAG”) survey has been completed, covering approximately 37.5 km², and the induced polarization (“IP”) survey has commenced. The geophysical surveys are designed to assist in identifying and refining additional mineralized structures and drill targets across the large silver-rich hydrothermal system. Together with the Phase 1 and Phase 2 drilling, these additional 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 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

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

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 are joined by Dave Erfle, founder and editor of The Junior Miner Junky, for a comprehensive recap of the Precious Metals Summit at Beaver Creek, an analysis of accelerating sector M&A, and a technical evaluation of the ongoing pullback across gold, silver, and mining equities.

Key discussion points include:

• Beaver Creek Conference Sentiment: A breakdown of the record-breaking turnout, why executive mindsets have shifted from needing capital to building projects independently, and how the mood differs from past cycles.
• Junior Portfolio Strategy and Filtering Criteria: How Dave navigates a cashed-up exploration sector, trims developer holdings advancing into production, and screens for high-margin, district-scale potential.
• Dissecting Recent M&A Deals: Key takeaways on recent transactions, including Artemis Gold’s takeover of Vista Gold, asset acquisitions by Luca Mining, Elemental Royalty’s major portfolio expansion, and stalled consolidation talks.
• Why the M&A Cycle Is Accelerating: An examination of senior producer balance sheets, cash reserves, and the mathematical necessity driving mid-tier and major mining companies to replace depleted ounces in the ground.
• Macro Pressure and Technical Price Levels: An overview of how rising bond yields, energy spikes, and upcoming inflation data are influencing precious metals, alongside crucial support gaps to watch on the GDX and GDXJ.

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 Daily Editorial, Jeff Christian, Managing Partner at CPM Group, joins us to examine the intricate macro crosscurrents steering gold and silver. Rather than viewing precious metals in isolation, the discussion breaks down how bond market volatility, fiscal deficits, and growing political dysfunction are impacting global asset valuations.

• Drivers of the Precious Metals Pullback: An overview of what triggered the recent drop across gold, silver, and broad commodities, contrasting knee-jerk algorithmic reactions to rising bond yields with longer-term fundamental positioning.
• Interest Rates as a Sign of Economic Weakness: Why climbing long-term Treasury yields reflect unsustainable borrowing, massive deficit spending, and credit degradation rather than robust economic expansion.
• Erosion of Faith in Policymakers: An analysis of how mounting political friction, upcoming US election disputes, and energy disruptions are fracturing public confidence in institutional stability worldwide.
• Global Reserve Trends vs. BRICS Narratives: A reality check on how central banks are actually allocating foreign exchange reserves, separating legitimate diversification away from the dollar and euro from recurring rumors of a gold-backed BRICS currency.
• Silver Realities and Industrial Speculation: How silver is performing as both a financial hedge and an industrial metal, along with a skeptical assessment of claims regarding surging demand from artificial intelligence and data centers.
• Technical Levels and Year-End Outlook: Key price ranges to watch following the late-summer consolidation, and why political and macroeconomic stress could spark renewed momentum for gold into the coming year.

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

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

• The KE Report: https://kereport.substack.com/
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Investment disclaimer:

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

In today’s Daily Editorial, we welcome Craig Hemke, Founder and Editor of TF Metals Report, for an in-depth discussion on current conditions across the precious metals and broader financial markets. Following a massive rebound throughout August, gold and silver have experienced a month-long pullback. Craig shares his perspective on current price action, key technical support levels, and the macro forces driving market sentiment.

• Precious Metal Price Action: Gold and silver have given back a portion of their August gains as traders evaluate support levels amidst shifting market conditions.
• Interest Rate Dynamics: Rapidly rising yields on long-term Treasury bonds and persistent dollar strength continue to present immediate headwinds for physical metals.
• Key Economic Data Watch: Critical economic releases scheduled this week, including employment figures, manufacturing indices, and Fed-favored inflation metrics, all are set to influence upcoming central bank decisions.
• Relative Equity Resilience: Precious metal mining equities and key sector ETFs have demonstrated relative strength compared to underlying bullion prices.
• Macro and Political Catalysts: Broad market resilience, potential central bank policy adjustments, and upcoming political events could shape the trajectory for tangible assets throughout the rest of this year.

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

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

• The KE Report: https://kereport.substack.com/ 
• 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, host Cory Fleck welcomes Tara Christie, President and CEO of Banyan Gold Corp. (TSX-V: BYN, OTCQB: BYAGF). Tara recaps recent news reporting a total financing of $58million, including an investment from Franco Nevada, high-grade drill results, and the inclusion into the GDXJ. 

Key discussion topics include:

• Franco-Nevada Investment and $58M Growth Financing: How Franco-Nevada’s $20 million strategic subscription materialized and how the treasury now funds operations through 2028.
• 2027 Aggressive Expansion with an 8-Drill Program: An overview of the planned 100,000-meter AurMac and 20,000-to-30,000-meter Nitra drill programs in 2027.
• Expanding High-Grade Zones at Powerline: An overview of the recent step-out drilling intersecting mineralization outside the current resource model, and how these ounces influence future pit sequencing.
• Maiden PEA Strategy and Timing: The rationale behind funding the company prior to releasing the fourth-quarter Preliminary Economic Assessment, and clarification on which drill datasets will anchor the study.
• Unlocking the High-Grade Gap Zone: Why ground conditions require a winter-drilling approach for this structurally controlled corridor, and the potential impact of mineralizing this ground on overall strip ratios.
• Assay Turnaround and Near-Term News Flow: What investors should expect regarding laboratory timelines, winter operational planning, and the steady pipeline of drill results leading into next year.

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: 

• 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.

On today’s Daily Editorial, we welcome back TG Watkins, Director of Stocks at Simpler Trading and Editor of The Profit Pilot. With broader markets navigating seasonal volatility, geopolitical headlines, and interest rate uncertainty, TG walks through the technical landscape across precious metals, commodities, equities, and the digital asset space.

Key Discussion Highlights:

• Precious Metals Pullback: Why GLD and GDX dipping below key daily moving averages could signal further sideways consolidation rather than an immediate buy setup.
• Copper’s AI Demand Driver: How power generation, robotics, and datacenter infrastructure continue to support resilient price action in copper.
• Agricultural Commodity Trends: Early bottoming signals and uptrends beginning to form across key agricultural markets.
• The K-Shaped Equity Market: The stark divergence between mega-cap tech index drivers and the underlying weakness across equal-weight indices.
• Collapsing Market Breadth: What the plunge in stocks trading above their moving averages reveals about current seasonal weakness and potential bounce territory.
• Interest Rates and Small-Cap Pressures: Why the Russell 2000 faces persistent headwinds while capital seeks refuge in mega-cap cash flows.
• Crypto Rebound and Regulatory Catalysts: Bitcoin’s recovery, the impact of recent SEC developments, and how to differentiate pure-play miners from AI power plays.
• Tactical Risk Management: Essential adjustments swing traders should make to position sizing and stop placement during choppy market regimes.

Stocks and ETFs Mentioned: GLD, GDX, CPER, SPX, QQQ, SMH, IWM, RSP, NVDA, MSTR, MARA, GLXY, IREN, HUT, CLSK, CIFR, RIOT, WULF.

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/
• 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.

Graphene Manufacturing Group – Unlocking Next-Gen Battery Technologies

• Catch up on the exclusive webinar discussing GMG’s most recent operational milestones.

• Get insights into the rapid advancements surrounding their graphene aluminum-ion batteries.

• Discover the key takeaways on their upcoming commercial catalyst initiatives.

• Listen to the Graphene Manufacturing Group Interview Here

Red Canyon Resources – Drilling Breakthroughs at the Osiris Project

• Uncover the significant drill updates indicating massive potential zones at the Osiris Project.

• Take a deep dive into the newly revealed Nautilus Camp target developments.

• Learn what these new findings mean for aggressively expanding the company’s mineralized footprint.

• Listen to the Red Canyon Resources Interview Here

Summit Royalties – Comprehensive Look at 7 Strategic Assets

• Review the performance highlights and cash-flow potential from their 4 producing assets.

• Examine the roadmap and detailed timelines for their 3 key development-stage projects.

• Understand how management is utilizing robust royalty models to insulate and drive shareholder value.

• Listen to the Summit Royalties Interview Here

Vizsla Silver – Paving the Path to Production at Panuco

• Hear crucial updates on site access milestones directly impacting the Panuco project.

• Get clarity on the specific timelines outlined for advancing from exploration into full production.

• Analyze the potential impact this world-class asset will have on regional silver supply and project economics.

• Listen to the Vizsla Silver Interview Here

Sitka Gold – Hitting High-Grade Gold in the Yukon

• Break down the exceptional high-grade gold assay results recently unearthed at the RC Gold Project.

• Listen to a detailed geological analysis of the Blackjack, Saddle, and Eiger targets.

• Find out why these latest intercepts could fundamentally redefine the scope of their Yukon property.

• Listen to the Sitka Gold Interview Here

FireFox Gold – Strategic Moves in Gold Exploration

• Tune into an exclusive webinar replay breaking down recent, highly anticipated exploration campaigns.

• Learn about the company’s strategic positioning within some of the world’s highest-potential gold trends.

• Identify the upcoming catalysts and drill programs investors need to keep on their radar.

• Listen to the FireFox Gold Interview Here

OceanaGold – Maximizing High-Margin Gold and M&A Opportunities

• Explore a powerful outlook on production growth and the mechanics of scaling global operations.

• Dive into the strategies behind maintaining supreme balance sheet strength alongside strategic M&A.

• Understand the necessary steps being taken to advance long-term, high-margin gold production.

• Listen to the OceanaGold Interview Here

Getty Copper – Accelerated Drilling and a Massive $15M Catalyst

• Review the phenomenal high-grade intercepts recently confirmed at the Getty South target.

• Unpack the mechanics of their accelerated drill program and discover exactly which targets are next.

• Find out how their newly announced $15M financing positions the company for aggressive rapid growth.

• Listen to the Getty Copper Interview Here

West Red Lake Gold Mines – The Big Picture Vision and Ramp-Up Strategy

• Get a transparent breakdown of the Q2 financial results and the company’s fundamental market strengths.

• Hear exciting details surrounding the H2 development and impending production ramp-up.

• Discover recent exploration updates that paint a much broader, long-term vision for the property.

• Listen to the West Red Lake Gold Mines Interview Here

Heliostar Metals – Inside the Ana Paula Feasibility Study

• Take a deep dive into the highly promising economics driving the Ana Paula feasibility study.

• Gather strategic insights on mill scalability and the company’s aggressive cost optimization plans.

• Receive a comprehensive update on the key permitting milestones required on the final path to operation.

• Listen to the Heliostar Metals Interview Here

If you enjoyed these interviews and want to stay ahead of the markets, be sure to subscribe to our channels and leave us a review! Your support helps us continue to bring you insights directly from the executives moving the needle.

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Final Note: We love hearing from our listeners! If you have any follow-up questions for the companies we interviewed this week, or if there are other companies you are interested in having us feature on the show, please email us directly. You can reach us at Fleck@kereport.com and Shad@kereport.com.

Shad and I were tied up all week at the Precious Metals conference in Beaver Creek this week so we didn’t have time to record a weekend show this week. We had a lot of meetings and will be bringing on some new companies and reintroducing other companies we have featured on the show in the past. 

It was a crazy busy conference. We will record a KER QuickTake this week to break it all down. 

Thank you for everyone who stopped us at the conference and all the kind words on the show. 

Cory 

I hope you all have a great weekend and enjoy all the comments and links shared.