Matt Lennox-King, Chairman and CEO of Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF), joins us for comprehensive introduction to this exploration company focused on copper, gold, silver, and zinc, in established mining jurisdictions in southeastern Arizona, USA.

The Company’s portfolio is anchored by the Corral Copper Property, an advanced exploration-stage, district-scale system with extensive drilling and significant shallow results showing CRD-style mineralization, but also now testing for porphyry-style mineralization at depth, and epithermal gold mineralization near surface.  The Company also has the Tombstone South Project with prospective CRD-style  silver, lead, and zinc mineralization.

Matt outlines that at the Corral Project there has been roughly 50,000 meters of historic drilling by other operations, that has then been complimented by ~10,500 meters of drilling by Intrepid the last few years at the Holliday, Earp, and Ringo targets, mostly focused on the near-surface CRD mineralization.  They are going to be completing an IP survey over the property in August, with the goal to get the data back and analyzed by September, and then start testing the porphyry targets at depth later in the year.  We discussed that Rio Tinto and Ivanhoe Electric have land adjacent to either side of Corral for the CRD and porphyry potential.

With regards to the gold epithermal target at Mattie, the company just announced completion of the initial geological mapping and geochemical components of its ongoing 2026 Phase 1 Exploration Program. Based on encouraging early-stage field observations and the identification of additional prospective target areas, the Company has expanded the scope of the Program to include additional rock sampling and a new soil sampling grid over parts of the Property. 

Then on Tombstone South the company anticipates doing more ground exploration to come up with 2-4 targets for deeper drilling later in the year to further test the prospectivity of the CRD thesis.

Wrapping up Matt shares his experience in the sector, a few key board members, their strategic stakeholders, which includes Teck Resources, and the strong balance sheet with $20 million in the treasury to execute on this current program and to expand the programs into next year.

If you have any questions for Matt regarding Intrepid Metals, then please email them into us at Fleck@kereport.com or Shad@kereport.com.

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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.

In this Daily Editorial episode of The KE Report, we chat with Joel Elconin, co-host of the Pre-Market Prep show and founder of the Stock Trader Network. Joel breaks down the broader market averages as they continue their steady drip higher, explaining why recent weakness is being bought up so quickly. He provides an inside look at what is driving current market breadth and how money is rotating across sectors to shield the indices from major downward days.

Key Discussion Points:

• The Power of ETF and Sector Rotation: Why strong sector rotation keeps preventing catastrophic 1,000-point down days and how ETFs internally rebalance the broader market.
• The IPO Life Cycle and SpaceX Mania: A look under the hood of the heating IPO market, why you shouldn’t buy on day one, and how to spot institutional accumulation phases.
• Small-Caps Playing Catch-Up: Evaluating the surprise resilience of small-cap stocks moving higher in the face of rising interest rates.
• The Tech Shift and AI Revolution: Why hardware is becoming overdone, the explosive comeback of software (IGV), and why hyperscalers will keep spending as long as profits follow.

Stocks & ETFs Mentioned:

• S&P 500 Futures / Cash, Broadcom (AVGO), CrowdStrike (CRWD), Ciena (CIEN), Apple (AAPL), Microsoft (MSFT), Oracle (ORCL), Destiny Tech Tech (TYXZ), Destiny XYZ Inc (TXYZ), Vanguard Commonwealth Fund (VCX), RobinTech Venture Fund (RVI), and the iShares Expanded Tech-Software Sector ETF (IGV).

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

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

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

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

In this Daily Editorial from The KE Report, we sit down with Brien Lundin, Editor of the Gold Newsletter and host of the upcoming New Orleans Investment Conference, to dissect the current state of the precious metals market and broader commodity sectors. While the short-term charts for gold have felt sluggish, Brien highlights several under-the-radar shifts that suggest a market transition is underway. The conversation covers everything from breaking technical correlations to the exciting surge of high-grade discoveries in copper, tungsten, and silver.

Key discussion points include:

• Gold’s 200-Day Moving Average: Why the recent bounce off this critical technical line might signify a true bottoming process rather than a temporary pause.
• Shifting Market Correlations: An analysis of why gold’s relationship with the S&P 500 and oil is breaking down.
• The Surge in Exploration News: Insights into the drill programs delivering results right now, including a look at standout companies making waves in the field.
• The Rise of Critical Metals: Why copper and tungsten are carving out powerful bullish trends of their own, and how silver fits into the traditional bull market structure.

Click here to learn more about the Gold Newsletter. – https://goldnewsletter.com/

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

Stocks Mentioned: Delta Resources (TSXV: DLTA), Gladiator Metals (TSXV: GLAD), Onyx Gold (TSXV: ONYX), San Lorenzo Gold (TSXV: SLG), Targa Exploration (CSE: TEX), Banyan Gold (TSXV: BYN), Spartan Metals (CSE: SPAT), GDX, GDXJ

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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.

Ron Kopas, President and CEO, and Dan Boudreau, Vice President of Exploration, of Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1), both join me for a comprehensive introduction to this gold exploration company commencing its largest exploration program to date at their Delta-1 Gold Project, along the prolific Thunder Bay District, Ontario.

The 2026 exploration program is strategically designed to unlock the significant discovery potential across the Company’s extensive 340 km² land package while continuing to expand and advance the Eureka Gold Deposit, where additional drilling is planned later this summer. Delta will advance multiple high-priority targets, with initial field activities focused on the highly prospective I-Zone / Crayfish Creek Fault sector, located approximately 18 kilometres southwest of Eureka.

The area is supported by several encouraging historical and recent gold results, including drill intercepts of 3.28 g/t Au over 14.6 m reported by Inco Gold (1988-1989) and 4.32 g/t Au over 41 m, 4.53 g/t Au over 14.4 m, and 4.36 g/t Au over 20.4 m reported by Ovalbay (1995). Additionally, a 1,000 kg mini-bulk sample grading 9.9 g/t Au was completed by Mengold in 2008. Recent channel sampling by Delta Resources (2024) returned 1.23 g/t Au over 40.6 m, including 2.12 g/t Au over 12 m and 3.39 g/t Au over 5 m, and 2.40 g/t Au over 16.2 m, including 5.54 g/t Au over 5 m.

Recent prospecting and till sampling, combined with the integration of historical geological, geophysical, and geochemical datasets, have identified multiple new high-priority targets, further reinforcing the area’s potential to host additional gold discoveries

If you have any questions for Ron or Dan regarding Delta Resources, then please email them into me at Shad@kereport.com.

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Investment disclaimer:

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In this Company Update, we sit down with Colin Padget, President and CEO of Founders Metals (TSXV: FDR | OTCQX: FDMIF | FRA: 9DL0), to discuss the sweeping progress being made at their flagship Antino Project in Suriname. With an aggressive 70,000-meter drill program underway, the company is actively expanding its footprint across this massive, district-scale asset. Colin breaks down the strategic vision behind their recent land acquisitions, shares insights from recent drilling success, and outlines what investors should look for as the company builds out a comprehensive understanding of this prolific gold system.

Key Discussion Points:

• The 70,000-Meter Drill Program: An update on the four active rigs across the property and the timeline for upcoming assay results.
• High-Grade Success at Maria Geralda: How deep auger drilling is redefining the geological structure and opening up high-grade potential at depth.
• Unlocking Upper and Lower Antino: Proving continuity, chasing mineralization down to the 1,000-meter mark, and connecting these two primary targets.
• Strategic Land Expansion: The rationale behind expanding to a 1,000-square-kilometer land package and using regional geophysics to drive brand-new discoveries.

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

Click here to visit the Founders Metals website – https://www.fdrmetals.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.

Keith Bodnarchuk, President and CEO of Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU), joins me to review the news released on May 26^th regarding the multiple intercepts of uranium mineralization from the winter drill program, followed by the news on May 28th which announced summer plans for the largest drill program to date at the Company’s Murphy Lake North (“MLN”) project.   

Muphy Lake North is a joint venture between Cosa and Denison Mines Corp. (TSX: DML) (NYSE American: DNN) and is located three kilometres east of IsoEnergy’s Hurricane deposit, in the eastern Athabasca Basin, Saskatchewan. Cosa is the project operator and holds a 70% interest with Denison holding a 30% interest.

 Winter Drill Program Assay Highlights:

• Uranium mineralization confirmed in three holes featuring a best intercept in drill hole # MLN26-013 of 5.0 metres averaging 0.55% U₃O₈ including 0.5 metres 1.7% U₃O₈ along the Cyclone trend
• The 5.0 metre uranium intersection in MLN26-013 also contains 4.1% nickel and 1.7% cobalt, consistent with multiple polymetallic eastern Athabasca uranium deposits including Cigar Lake, Key Lake, and Hurricane
• Uranium mineralization is shallow at 265 metres depth and remains open along strike for 600 metres to the west and 600 metres to the east

Summer Drill Program:

• Multiple intersections of unconformity related uranium mineralization remain open along strike for 600 metres in both directions; drilling to focus on step-out tests of the Cyclone mineralization approximately 265 metres below surface
• Largest drill program to date at Murphy Lake North will commence in mid-June and comprise approximately 6,000 metres and15 drill holes
• Denison participating in funding 2026 exploration at MLN to maintain its 30% interest

Next Steps:

Crews are preparing to mobilize, and a rapid start-up is expected as the drill and supporting equipment remains on site at MLN. The Company expects to announce the commencement of drilling in mid-June, which will take approximately two months to complete, and will be followed by drilling at the Company’s Darby joint venture. *

If you have any questions for Keith or Andy regarding Cosa Resources then please email them into me at Shad@kereport.com

* In full disclosure, Shad is a shareholder of Cosa 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 Cosa Resources

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Investment disclaimer:

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

In this Company Update, I sit down with Garrett Ainsworth, President and CEO of District Metals (TSX.V:DMX – OTCQX:DMXCF – Nasdaq First North: DMXSE SDB), to discuss the company’s Preliminary Economic Assessment (PEA) results for the flagship Viken Deposit in Sweden. Garrett breaks down the economics of the report, and explains why this asset represents a globally important, highly secure multi-commodity resource for the European Union.

Key Discussion Points:

• PEA Economic Highlights: Learn how the Viken Deposit achieved a post-tax NPV of $2.88 billion at an 8% discount rate, paired with a 2.1-year payback period.
• The Power of Negative Production Costs: Discover the unique mechanics behind Viken’s negative net cash cost for uranium production when factoring in valuable byproduct credits.
• A Diverse Multi-Commodity Asset: Explore the robust blend of essential materials driving the project’s economics, led by vanadium, uranium, sulfate of potash, and molybdenum.
• Unlocking Future Exploration Optionality: Find out why this Phase 1 PEA, which utilizes only 3% of the total resource base, is just scratching the surface of Viken’s multi-deposit potential.
• Proactive Social License & Next Steps: Garrett shares the company’s upcoming timeline for drilling, environmental baseline studies, and community consultation.

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

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

Matt Filgate, President and CEO of GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF), joins us for a comprehensive introduction to this Wisconsin-focused exploration company advancing copper and gold projects across the Penokean Volcanic Belt-one of North America’s most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada’s Walker Lane, which is subject to a binding term sheet for a proposed staged earn-in and joint venture with Barrick.

In Wisconsin, GreenLight’s portfolio includes the flagship Bend copper-gold VMS Project in Taylor County, Wisconsin; along with the Lobo and Lobo East massive sulfide targets, and Reef high-grade gold project. Matt shares that their management team and board has deep roots in the state, and GreenLight is building a modern minerals company for Wisconsin, committed to responsible exploration, transparent engagement, and creating durable local opportunities as it helps supply the critical metals that power the energy transition.  

The focus at the flagship Bend project is following up on last year’s 2,000 meters of drilling, and utilizing data from the 18,000 meters of historic drilling by other operators, to guide a larger 17,000 meter follow up program. The ongoing Phase 2 Drill Program at Bend is for the initial 7,000 meters of that larger program, further delineating the VMS-style mineralization down-dip and along strike to the east of the main deposit area. The Company will also drill 2,000 meters into the Lobo and Lobo East target area later this drill season.

Next we shifted over to the Nevada asset, where on May 7, 2026, GreenLight Metals announced that it has signed a binding term sheet with a wholly owned subsidiary of Barrick Mining Corporation, for a proposed staged earn-in and joint venture at the Kalium Canyon gold project in Esmeralda County, Nevada.  Matt outlined the terms and different thresholds of this proposed earn-in process for Barrick, which if executed on, would give GreenLight a 20% fully-carried interest all the way through a Pre-Feasibility Study.  Additionally, this transaction will bring in periodic stage-gate payments into the company treasury, while allowing Barrick’s exploration team to focus on delineating the mineralization.

Matt highlights the strong company treasury at present, the background and experience of the management team, and the potential rerating of the company valuation should their exploration program at Bend have success in growing the mineralized footprint to a level where a resource estimate can be released next year, putting it on par with other important US-based VMS copper-gold systems.

If you have any questions for Matt regarding GreenLight Metals, then please email those in to us at Fleck@kereport.com or Shad@kereport.com.

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Investment disclaimer:

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

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) joins us for a visual look and “boots-on-the-ground” site visit to the core shack for the ongoing and fully-funded 15,000 meter drill program starting at Las Coloradas, and then later in the year transitioning over to Almoloya.  Both silver and gold projects are located in the Parral District, in Chihuahua, Mexico.

We start off with Scott walking us visually through the core shack and he shows us some of the new drill core coming in for logging, splitting, and then prepping to send out to the assay labs. We go on to discuss some of the key exploration targets at Las Coloradas, based on the various data sets from mapping, sampling, historic data, and surveys flown that their team has compiled in the prioritized targets for this season.  The initial follow-up drilling has been testing deeper and stepping out around the historic Mine Target and DBD Target.  As the program evolves, then other regional targets like Saddle, Silvia, Leona, and La Plata areas will be tested.

 Las Coloradas High-Grade Silver Project

• Step-out and deeper drilling planned on the high-grade Soledad and Soledad II vein systems, following up around the Mine and DBD zones
• Approximately 700 metres of the Soledad structure remains to be tested
• New priority regional drill targets emerging at Saddle, Silvia, Leona, and La Plata zones
• Multiple large-scale, largely untested targets highlight district-scale discovery potential at Las Coloradas

Almoloya Gold/Silver Project

• Initial diamond drilling planned on the gold-rich Juliettas structures
• District-scale CRD and oxide potential identified at Cigarrero Mine área

Wrapping up Scott highlights the financial health of the company, after their closing of the upsized bought deal financing in January, and the continued support from their key stakeholders. Scott reiterated that the future value creation will be determined with the drill bit, and that they will have plenty of exploration news on tap for the balance of 2026.

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

Click here to follow the latest news from Kingsmen Resources

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In this Daily Editorial, we sit down with Dave Erfle, founder and editor of the Junior Miner Junky, to unpack the current divergence in the commodities sector. While copper continues its powerful breakout, the precious metals sector has lulled many investors to sleep despite remarkable corporate health and macro tailwinds.

Key Discussion Points:

• Precious Metals Range-Bound Trading: An overview of gold ($4,500/oz) and silver price action relative to their 50-day and 200-day moving averages, and why a technical decision point is rapidly approaching.
• Stagflationary Economic Drivers: How the latest downwardly revised US GDP data (1.6%) and rising PCE inflation (3.3%) are providing a fundamentally supportive backdrop for hard assets.
• Unprecedented Corporate Health: A look at the record-breaking Q1 earnings and strong balance sheets of producers like Newmont, contrasting their historically low valuations against an overextended broader stock market.
• The Speculative Frenzy Absence: Why the lack of a sector-wide bubble in junior equities and multi-year low open interest indicate that the precious metals sector remains completely overlooked.
• Copper vs. Gold Rotations: Analysis of the strong volume and capital flowing into critical minerals and copper compared to the summer doldrums gripping gold and silver.

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

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

In this Daily Editorial, we welcome Craig Hemke, founder and editor of the TF Metals Report, to dissect a highly volatile session across the commodities landscape. Amid shifting headlines out of the Middle East and a see-saw reaction in traditional stock indices, Craig breaks down why hard assets are reacting inversely to standard war-narrative headlines and what it means for macro-investors moving forward.

Key Discussion Points

• Geopolitical Headlines vs. Market Reality: Why the reopening of tensions in Iran initially triggered a pullback in precious metals, and why theater often drives early-morning price action over baseline fundamentals.
• The Copper and Silver Correlation: An analysis of Copper’s push toward new all-time highs and how this powerful industrial demand component is acting as a safety net to keep Silver well above its key technical baselines.
• Fiat Currency Dilution & Global M2 Money Supply: How a 17% explosion in global M2 money supply over the last two years forces a structural re-pricing of hard assets across the board.
• Historic Lows in Commitment of Traders (COT) Open Interest: A look into why futures market open interest is sitting at 20-year lows during a commodities boom, and what happens when institutional money inevitably rushes back in.
• Navigating Liquid Air Pockets and Volatility: Why thin market liquidity is causing staggering single-day moves in Silver and Gold, and how investors can brace for near-term technical decisions around the 50-day and 200-day moving averages.

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

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

Shawn Howarth, President and CEO of Excellon Resources (TSXV:EXN) (OTC:EXNRF)(FRA:E4X2), joins us to outline all the development work building towards mill pre-commissioning and trial mining ramp up into production over the next few quarters at their flagship Mallay silver-lead-zinc mine, located in the Cerro de Pasco area of Peru. We then review the value proposition and optionality across their other 3 projects:  Tres Cerros, Kilgore, and Silver City. 

Mallay Development Highlights:

• Mill ready for pre-commissioning. All critical refurbishment and wet commissioning milestones completed; with a trial mining bulk-sample campaign targeted for June 2026.
• ~15,000 tonnes stockpiled from Isguiz vein and Footwall Zone. Surface stockpile provides representative feed for the pre-commissioning bulk-sample campaign.
• Infill drilling informing updated restart planning. Results from the ~2,500-metre program are being integrated into the geological model; the Company expects to have an updated restart plan and schedule in early Q3/26.
• Drilling underway to test mineralized extensions: Two rigs active at site targeting extensions of the Isguiz system at depth, the Pierina gold target and Mallay Deeps — a downhole electromagnetics (“DHEM“) exploration target; a third rig is expected at Shafra in June.
• Operational team strengthened. New Operations Manager appointed at Mallay; technical capacity expanded in the resource modelling, mine planning, and contract management areas.
• Dewatering of the 400-ramp advanced. Rehabilitation of the 400-ramp is now underway, providing access to Isguiz below the 4090 level.

The work completed over the last several months, includes finishing the mill refurbishment, assay lab upgrades, completion of the initial infill drill program and the expansion to three drill rigs.   This positions the Company to begin testing the process plant in a measured way. Shawn outlines that their operations team is treating June as a bulk-sample exercise, which is designed to validate metallurgy, grades, recoveries, and concentrate quality.   There will then be a steady commissioning of the mill via underground mining and surface stockpiles for the second half of the year, ramping up towards nameplate capacity at 600 tpd by year end.

There is also an systematic exploration program underway with the goal of further resource definition and expansion testing extensions of the Isguiz system at depth, the Pierina gold target, and the exploring along the broader Shafra Zone.  With current silver prices materially above the US$30/oz assumptions used in their February 2026 Mineral Resource Estimate, they believe there are footwall areas and expansion areas that can convert into economic ore and then come into the future mine plan.

In 2025, Excellon secured an off-take agreements with Glencore for their lead and zinc concentrates, Shawn outlined that their internal studies project a run-rate of 600 tonnes per day of production, producing approximately 2-2.5 million silver equivalent ounces per year, and with a target All-In Sustaining Cost (AISC) of US$17 per AgEq ounce.  They are also open to eventual expansion of the plant once more mineral resource growth and data comes back in from all the drilling underway and on tap for the for the foreseeable future.

The Tres Cerros Project is a highly prospective gold-silver exploration project approximately five kilometers northwest of the Mallay Mine. The project’s prime area of interest is a 2.5 kilometer by 500 meter corridor of gold-silver mineralization and coincident IP/resistivity anomalies, indicative of a bulk tonnage, high sulfidation epithermal system.  Numerous historical grab samples were taken across the 2.5 kilometer fault, which are being analyzed to determine further follow-up exploration work.

Kilgore, is an advanced gold project in Idaho with over 1 million ounces of gold delineated in all categories, and the Company is considering bringing in a JV partner to assist with moving this project forward in exploration and further derisking.

Silver City, a high-grade epithermal silver district in Saxony, Germany, with a long history of almost 800 years of silver production.  Shawn has stated publicly that they are looking at spinning out this asset into a new European-focused silver exploration vehicle. There was just $2million raised in the private holding company for data compilation and for presenting the market with a more defined value proposition and drill program.  

Click here to follow the latest news from Excellon Resources

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[Recorded Friday May 29th, 2026] John Rubino, {Substack https://rubino.substack.com/}, joins me for another wide-ranging discussion around the strong financial health of the gold and silver producers and royalty companies parsing the Q1 financial data.  We review all of the revenue and cashflow being generated on their balance sheets, and where all that cash is going as a return of capital to shareholders.  We also touch upon the ongoing geopolitical uncertainties and macroeconomic catalysts that are leading to volatility in gold, silver, oil, critical minerals, and the related resource stocks.

We start off reviewing the various return of capital approaches to entice investors of PM stocks through share buybacks, by paying dividends, and through looking for accretive merger or acquisition targets.

Next we focus on if we are still in a bull market for the precious metals complex, after the parabolic move higher earlier in the year.

• John points out that the reasons for the prior PM bull markets topping out were for different macroeconomic reasons, from Fed policy and central bank policies, to interest rates, currency pairs, and global trade frictions.
• He goes on to unpack the reasons this bull market is still on very sound footing, where global financial uncertainty is ever-present, and the desire for nations to print more money, force lower interest rates, and inflate their way out of the current challenges. These  will underpin higher gold and silver prices.

Turning to the extreme volatility in both directions in the precious metals equities thus far in 2026 – John sees opportunities for placing low-ball bids in quality gold and silver stocks that have corrected by 30%-50% off their January and February highs, or using dollar-cost averaging to position in to a good cost-basis over the fullness of time.

• He also points to using option strategies to make profits on the way down to eventually buying a stock one already wants to accumulate at a lower pre-determined strike price.
• We note again that PM stocks have responded positively to Q1 earnings, but that are still not fully factoring in these higher metals prices, which is giving investors an edge to accumulate existing positions or initiate new positions in stocks that had previously run away to the upside into the current weakness.

Beyond the precious metals, we then broadened out the discussion beyond all the monetary policy trends and fiat money units sloshing around the markets, to discuss all the government fiscal policy initiatives to encourage mineral development, extraction, and processing around the world.

• This has had noticeable impacts on critical minerals pricing and awareness in commodities like lithium, nickel, silver, and the more niche specialty metals.
• Additionally, we review how large manufacturers and end-users of all these raw materials are getting more involved in partnering upstream with the mining companies for securing sourcing for their supply chains.

Wrapping up we spend some time getting John’s outlook on the subsector of royalty companies, their financial health as evidenced by Q1 earnings, and the ongoing M&A cycle within this group of resource equities.

Click here to follow John’s analysis and articles over at Substack

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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 episode, I sit down with Simon Dyakowski, President and CEO of GSP Resource Corp (TSXV: GSPR), for an in-depth company introduction focused on the Alwin-Mer Project located in the heart of British Columbia’s prolific Highland Valley. Simon shares insights into the company’s tight share structure, recent financing, and the upcoming summer drill program.

Key discussion points include:

• The Alwin Mine Project History: Discover the background of this past-producing high-grade copper mine and how it fits into the shadow of giants like Teck Resources’ Highland Valley mine.
• The Mur Project’s Porphyry Potential: An overview of the historical work that points toward an expansive, shallow copper system ripe for modern, deeper drilling.
• The Summer Phase 1 Drill Strategy: Insight into the specific targets the company will drill, including the western gold zone at Alwin.
• Untapped Precious Metal Credits: Why historic data overlooked potentially significant gold and silver values, and how GSP plans to capture this hidden value.
• Distressed Valuation & Market Tailwinds: A breakdown of GSP’s tight share structure and the regional momentum driving a major camp renewal.

Click here to visit the GSP Resource website to learn more about the company and project – https://gspresource.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, Alicia Milne, President and CEO of Q2 Metals (TSXV: QTWO | OTCQB: QUEXF | FSE: 458) joins me to share insights into the commencement of the 20,000-meter drilling program at the Cisco Lithium Project in Quebec, the strong institutional interest backing the recent C$70million financing, and the highly anticipated winter drill results on the horizon.

Key Discussion Points

• The $70M Summer Drilling Blitz: An overview of the 20,000-meter summer drill program and how the team plans to split the budget between critical infill drilling and high-upside expansionary targets.
• Geological Consistency at Cisco: Insights into why the wide, high-grade spodumene pegmatite intervals discovered so far are lowering risk and changing the infill drill spacing requirements.
• Testing New Horizons: A look into unexplored regional targets, including mysterious outcrops to the east and under-drilled zones to the south that could signal a district-scale play.
• The Road to Feasibility: A breakdown of how ongoing metallurgical testing, baseline environmental studies, and the upcoming Preliminary Economic Assessment (PEA) might feed into a definitive feasibility study by late 2026 or early 2027.

Click here to listen to our last interview with Alicia, recapping the maiden Resource Estimate for the Cisco Lithium Project. 

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

Click here to visit the Q2 Metals website – https://www.q2metals.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.

TriStar Gold (TSX.V: TSG) Strengthens Balance Sheet to De-Risk Castelo de Sonhos

• The LIFE Capital Boost: Discover why management strategically upsized its financing from $7M to $9M Canadian, and how this capital positions them to aggressively advance the asset.

• Drilling for High-Grade Extensions: Get the breakdown on upcoming expansionary drilling aimed at extending lucrative high-grade zones at Esperança South.

• Lawsuit & Asset Value Milestones: Hear the latest updates on the legal evidentiary phase in Brazil and the exact steps being taken to unlock a 1.4-million-ounce reserve toward a Feasibility Study.

Listen to the TriStar Gold Interview Here

Impact Silver (TSX.V: IPT) Revenues Nearly Triple, Delivering Historic Profitability

• Explosive Q1 Performance: Find out how higher grades, robust mill throughput, and surging silver prices drove Q1 revenue to a spectacular $31.2 million.

• The Kena Vein Gamechanger: Learn how the newly developed Kena Vein at the Guadalupe Mine is actively transforming the company’s entire grade profile.

• Plomosas Strategy Shift: Get the insights on why underground mining has been temporarily suspended, alongside updates on lucrative advanced-stage toll-milling discussions.

Listen to the Impact Silver Interview Here

Guanajuato Silver (TSX.V: GSVR) Records a Massive 89% Revenue Surge Quarter-Over-Quarter

• Record Financial Turnaround: Uncover the operational shifts that generated $43.1M in record revenue and a dramatic swing to a positive $13.1M EBITDA.

• The Bolanitos Impact: Learn how the freshly closed acquisition of the Bolanitos mine immediately doubled gold production to over 4,200 ounces.

• Unprecedented Drill Campaign: Get the strategy behind their massive, ongoing 75,000-meter drill program utilizing 8 active rigs across their properties.

Listen to the Guanajuato Silver Interview Here

Sitka Gold (TSX.V: SIG) Yields High-Grade Gold Deep Below Pit Boundaries at RC Gold

• Deepest Hole in Project History: Unpack the monumental geological implications of Hole 121, which yielded 94.0 m of 1.79 g/t Au (including 19.3 m of 5.04 g/t Au).

• Underground Mining Horizons: Discover how this deep intercept changes the economic trade-offs and shapes upcoming underground resource modeling.

• 60,000-Meter Scale-Up: Find out how many rigs are currently turning at the Blackjack and Rhosgobel zones and when to expect the next wave of steady assay flow.

Listen to the Sitka Gold Interview Here

Santacruz Silver (TSX.V: SCZ) Outlines Q1 Financials and Aggressive 2026 Growth Initiatives

• Visual Operations Review: A concise deep dive into the operational metrics and financials defining the company’s Q1 performance.

• Optimizing the Asset Portfolio: Hear how current efficiency programs across their core mines are designed to lower costs and maximize metal output.

• 2026 Milestones: A forward-looking breakdown of the production and exploration catalysts management expects to hit in the second half of the year.

Listen to the Santacruz Silver Interview Here

Cerrado Gold (TSX.V: CERT) Drives Multi-Project Milestones Across Global Portfolio

• Minera Don Nicolás Turnaround: Learn how a shift toward higher-grade open pits and heap leach operational scaling is reshaping their operational costs in Argentina.

• Unlocking Strategic Assets: Get the latest timeline on the newly closed Falcon properties acquisition and the critical Lagoa Salgada EIA approval process in Portugal.

• Iron Ore Catalyst: Discover what to expect from the upcoming Bankable Feasibility Study (BFS) for the Mont Sorcier project in Quebec and how it impacts overall asset value.

Listen to the Cerrado Gold Interview Here

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Final Note

We want to hear from you! If you have follow-up questions for any of the executives we interviewed this week, or if there is a specific company you want us to look into and interview next, please reach out to us directly via email. You can contact us at Fleck@kereport.com and Shad@kereport.com.

In this The KE Report Weekend Show, we sit down with top market analysts to dissect the charts across multiple asset classes and dive deep into the rapidly evolving critical minerals sector. First, fund manager Dana Lyons shares crucial technical indicators for precious metals, copper, energy equities, and the broader S&P 500. Then, Howard Klein and Matt Fernley of RK Equity join the show to expose the under-discussed bottlenecks in the critical minerals supply chain and how US-China dynamics are shifting the math for western investors. 

• Segment 1 & 2 – Dana Lyons, a fund manager and editor of the Lyons Share Pro website, joins us to share his technical analysis and market outlook. Dana highlights critical support and resistance levels for commodities like gold and copper, shares his specific trading strategies for shifting momentum within technology, energy, and software sectors, and provides a broader analysis of the overall market health, bond trends, and cryptocurrency price action. 
• Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services – https://lyonssharepro.com/

• Segment 3 & 4 – Howard Klein and Matt Fernley, partners at RK Equity, discuss the recent structural changes in the critical minerals sector, highlighting how the ongoing conflict in the Middle East has restricted the global sulfur supply and directly disrupted downstream nickel and cobalt processing. They also analyze the emerging trends in heavy rare earth element demand, evaluated new visual clay processing techniques, and debated the long-term feasibility of domestic lithium production and government-backed price floors. 
• 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 

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

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

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Investment disclaimer:

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

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

[Recorded on 05-28-2026]  Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us to review how he is trading opportunities in drone and counter-drone stocks on the back of news that broke on Thursday May 28^th that the US government may be investing directly into drone technology for defense.  Additionally, we discussed how the government is also investing directly into or shaping favorable policy initiatives around the critical minerals sector.

We start off discussing next generation defense and how integral drones have become on as a key aspect of battlefield protection. Sean points out that many nations have invested big into this technology, and that hot conflicts in Ukraine and Iran have changed modern warfare.

• Some of the companies we discussed include: Unusual Machines, Inc.(NYSE American: UMAC), Red Cat Holdings, Inc. (NASDAQ: RCAT),  Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), and Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO).
• Sean reiterates that investors need to do proper due diligence as not all companies are run well or have the right technology. He points out AeroVironment, Inc. (NASDAQ: AVAV) as a cautionary note of a company that has struggled even in a bullish sector.
• He also points out that counter-drone and counter-measure tech companies, like V2X, Inc. (NYSE: VVX), have done incredibly well in this environment.

The discussion then pivots to the US government also putting funding and proactive policy initiatives into the critical minerals stocks.

• He narrows down this wide range of minerals to a focus on getting exposure to the defense metals like antimony, heavy rare earths, tungsten, and niobium, or conductive metals like copper and silver.
• Some critical minerals stocks that he and his subscribers have traded well are: MP Materials Corp. (NYSE: MP), Critical Metals Corp. (NASDAQ: CRML), and USA Rare Earth, Inc. (NASDAQ: USAR), Trilogy Metals Inc. (NYSE American: TMQ) (TSX: TMQ), Taseko Mines Limited (TSX: TKO) (NYSE American: TGB), Almonty Industries Inc. (NASDAQ: ALM) (TSX: AII), and American Rare Earths (ASX: ARR) (OTCQX: ARRNF).

He views periods of time where these critical minerals stocks correct as opportunities where investors that missed a stock on the way up, get another opportunity to accumulate into these pullbacks for the longer-term trends in motion. He stresses the need to understand the extreme volatility in this sector, to focus on companies with a legitimate pathway to production, and that may have received government funds in the past.

Wrapping up Sean highlights just how important this administration proposing implementing price floors to certain niche critical minerals sectors will be for encouraging development of projects that can then depend on the government being a steady buyer at a set prices higher than prevailing market prices.

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

.

Click here to learn more about Resource Trader

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

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Investment disclaimer:

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

Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their Q1 2026 financial and operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina.  We discuss the acquisition of the adjacent Falcon Properties, and aggressive 70,000 meter exploration program on tap for MDN into 2026.  Additionally we get an update on the permitting process at the Lagoa Salgada VMS Project in Portugal and the key development catalysts on tap at the Mont Sorcier Iron-Vanadium project in Quebec.

Q1/26 MDN Operating Highlights:

• Q1 Gold equivalent production of 12,842 Gold Equivalent Ounces (“GEO”) vs 11,163 GEO in Q1 2025
• Heap leach production of 8,787 GEO continues to increase as water availability improves
• Underground development work continued at an accelerated pace, with record development meters during the period
• Access to new underground ore zones expected in Q2 2026, delivering higher-grade ore to the CIL plant, improving head feed grade, and increasing production
• CIL plant continues to process a blend of stockpile material and additional ore from underground development, resulting in total production of 4,055 GEO in Q1 through the CIL plant
• Acquisition of Falcon Properties has the potential to extend Heap Leach operations based on historical drill results.
• Combined with the existing exploration program, the acquisition is expected to position the mine to add new mineable material quickly

• Full year production guidance of 50,000-60,000 GEO maintained
• AISC of $1,348/oz Au during Q1 2026
• Record Adjusted EBITDA of $28.7 million for Q1 2026, benefiting from unhedged gold position
• Strong Cash Position of $31.4 million at quarter end

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

Next we got an update on the ongoing work from the previously announced unfavourable opinion of the environmental impact assessment (EIA) for the Lago Salgada VMS Project in Portugal. This ‘unfavourable opinion’ was issued after expiry of statutory deadline under Portuguese EIA legislation. The Company maintains its position that the project has been tacitly approved. Mark reiterated that the purported unfavorable opinion was issued despite the project being the first mining project in Portuguese history to receive unanimous favourable opinion for the Project by all 17 people that make up the Technical Evaluation Committee. The Company is working on a resolution and will update the market when it has more information.

Moving on to the Mont Sorcier Iron Project in Quebec, there are final workstreams feeding into the Bankable Feasibility Study slated for release here in Q2 of 2026. Recent metallurgical test work has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%, which gets a premium in the iron marketplace.  The NPV(8%) of the is project in the prior PEA was US$1.6Billion, so even at a very low multiple being applied to this Project, it more than underpins the current market cap that the company is currently receiving, and yet the market cap doesn’t even fully reflect the gold production asset.

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

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

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

Click here to see the latest news from Cerrado Gold.

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

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Investment disclaimer:

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