The KE Report

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 these volatile markets on the back of Middle East geopolitics.  He is adding to energy, fertilizer, and chemical stocks on the back of rising oil prices, trimming back some gold and silver stock gains, and holding steady with select critical minerals stocks that may benefit from future government funds and policy initiatives.   We start off in a general discussion on what the higher oil prices may mean for inflation trends, fiscal and monetary policy, and trade amongst nations.  Dialing into the energy stocks, Sean is avoiding some international oil service companies that may be impacted negatively by the Strait of Hormuz being closed.  Conversely, Sean is adding to quality North and South American energy companies like Petrobas (PBR) and Cenovus Energy (CVE), and through the State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP), that are benefiting from increased revenues and growth due to the higher oil prices.   With regards to the fertilizer and chemical companies, Sean likes names like CF Industries Holdings (CF), Nutrien Ltd (NTR), and The Mosaic Company (MOS), due to their competitive ability to utilize cheap North American natural gas and processing to export fertilizer and chemicals overseas to areas that have higher nat gas prices and are affected by constrained supply of key ingredients with the Strait of Hormuz chokepoint still in effect.   Sean remains bullish for medium-term and longer-term in the precious metals, because all the broader fundamental macroeconomic and geopolitical factors are still in place and haven’t changed.    Despite that outlook, in the short-term, he has been trimming back gains in a few silver and gold stocks, like Avino Silver and Gold (ASM), to raise funds for deploying into other sectors. He reiterated the point that this is not ‘panic-selling,’ or giving up on the precious metals thesis; but rather, strategically taking gains for swing trades in other areas of the market. However, after the wild price volatility in both directions for gold and silver in January and early February, he believes that we are likely now going to trend sideways in a price range for the near-term; basing for a while before the next move to the upside.     With regards to critical minerals, Sean remains quite interested in the metals of strategic importance to defense for the US and the world at large, like rare earths, antimony, and tungsten. He highlighted United States Antimony (NYSE American: UAMY) which has the US government as a partner as the kind of company that he’s been holding in his portfolio. Sean highlights the US Pentagon and Defense Department is allocating $200 Billion to invest in mineral development and processing for national defense, and highlights that domestic critical minerals stocks in rare earths, antimony, and tungsten have a higher likelihood of benefitting from these initiatives.   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:   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.

Terry Lynch, CEO of Power Metallic Mines (TSX.V: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV), joins me for a comprehensive exploration update catching up on multiple news releases from their fully funded 100,000-meter drill program at the polymetallic NISK Project in Quebec.  We discuss recent drill results at the Lion Zone, pending results still at the assay lab, but also review 4 key regional exploration targets of interest for 2026 drilling.  Additionally we touch upon the successful metallurgical testing recovery results, and other value drivers in Chilean Metals spin-out, and upcoming work at the Jabal Baudan Exploration License in Saudi Arabia.   Infill and expansion drilling has continued to define the high-grade Lion Zone in preparation for a 2026 Mineral Resource Estimate (MRE). The infill drilling on the Lion zone has shown that the interpreted zone geometry has high repeatability raising the confidence level for future mineral resource estimates to an Indicated Resource classification. Internally the Lion Zone drilling continues to surprise with very high-grade holes.   Hole PML-26-049, the first hole of the 2026 winter drill campaign, was drilled to support the modelled interpretation of the Lion zone near surface. It resulted in the best copper intersection to date on the Lion Zone, intersecting massive to brecciated Cu sulphides over 16.55m @ 10.08% Cu (15.11% CuEqRec1). This hole greatly expands the zone near surface that may be amenable to early open pit extraction in a possible future mining operation.   The exploration team has an ongoing six-rig drill program focused on expanding the mineralized around the Lion Zone and at depth testing the potential “Elephant Zone,” and also at Lion West, at the Tiger Deep Zone.  Additionally, new polymetallic targets are being refined from surveys at the Hydro Fold-Hinge Zone, there will be more step-out drilling focused on to connecting more of the 5.5km corridor and “Gap Area” between Lion and NISK Main.    There are still about 20,000+ meters of core being processed at the lab, and continued drilling that will keep going through April that should see a steady string of drill results coming back in over the next few months. All the drilling data from the end of last year and this year will be added to prior results into a new resource update and then PEA later in the year. Then 30,000+ additional meters that will be drilled throughout 2026, starting up again in the summer.   On January 19, 2026, Power Metallic Mines provided preliminary metallurgical results performed by SGS Canada Ltd at its laboratories based in Quebec City, QC, and Lakefield, ON, from representative samples of Lion zone mineralization sent over back in October 2025. An initial Lock Cycle Test within coarse grained chalcopyrite and cubanite returned a sulphide concentrate grading 25.8% Copper containing very high metal recoveries of Copper (98.9%), Palladium (93.9%), Platinum (96.8%), Gold (85.0%) and Silver (88.9%), exceeding Power Metallics most optimistic estimates for recovery prior to this test work.    On Feb. 19, 2026, Chilean Metals Inc (TSX.V: CMCG) commenced trading. Chilean Metals was created through a spin-out from Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) in February 2025, At time of spin-out ownership was 50% Power Metallic and 50% the Power Metallic shareholders of record January 31 2025. The new Company was created with a focused exploration mandate and a project portfolio spanning two of the most geologically fertile mining belts in the Americas.   We also touched upon upcoming exploration at their 100% controlled Jabal Baudan Exploration License in Saudi Arabia: Power Metallic announced on June 16th that it was awarded the exploration license for the Jabal Baudan project in Saudi Arabia’s Jabal Sayid Mineralized Belt. This historic milestone positions Power Metallic as one of the few foreign companies with mining concessions in the Kingdom of Saudi Arabia, having secured a successful bid in this prestigious licensing process.   If you have any questions for Terry regarding Power Metallic Mines, then please email them into me at Shad@kereport.com.   * In full disclosure, Shad is a shareholder of Power Metallic Mines 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 Power Metallic Mines   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

In this Company Introduction on the KE Report, we sit down with Joe van den Elsen, President and CEO of Andina Copper (TSX.V:ANDC - OTCQX:ANDC), to discuss the company’s exploration efforts across South America. Andina Copper has copper exploration projects in Argentina, Colombia and Chile - with drilling on two this year.   Key Discussion Points: Strategic Portfolio Management: Joe explains the rationale behind building a portfolio of porphyry discoveries in Argentina, Colombia, and Chile to mitigate jurisdictional risk and ensure a consistent flow of news throughout the year. The Piuquenes Project (Argentina): We dive into the high-grade copper-gold potential of this flagship asset located near world-class deposits like El Pachón and Altar, highlighting recent drilling success and the project's shallow nature. Advancing Cabrasco (Colombia): Joe details the acquisition of this district-scale copper-molybdenum porphyry system, the logistics of operating in the Chocó belt, and the company's commitment to year-round drilling. The Mantau Project (Chile): A look at the pipeline opportunity in the Antofagasta region, situated adjacent to significant recent discoveries, and how it fits into the company’s seasonal exploration rotation. Capital Position and Team Expertise: An overview of the company’s recent $27.5 million financing and the technical team driving these projects forward.   If you have any questions for Joe and his team you can email us at  Click here to visit the Andina Copper website - https://www.andinacopper.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 episode, we sit down with Nick Appleyard, President and CEO of TriStar Gold (TSX.V: TSG | OTCQB: TSGZF). Following a recent news release regarding the ongoing court case in Brazil, Nick provides essential clarity on the status of the LP environmental permit for the Castelo de Sonhos project. We dive deep into the legal proceedings, the nature of the contested facts, and the potential timelines for a resolution that could significantly re-rate the company's valuation. Key Discussion Points: Current Court Status: Nick explains the "evidentiary phase" of the court case, where parties are submitting contested facts and the judge is determining if independent experts are required to reach a final truth. The Indigenous Consultation Issue: A look into the central dispute regarding the proximity of indigenous groups; Nick clarifies that the nearest groups are 30km away, upstream, and separated by a mountain range, making any environmental impact scientifically impossible. Potential Outcomes: Discussion on the four possible paths forward - a direct judicial ruling, further expert examination, a judge-mandated negotiation, or an out-of-court settlement with the federal prosecutors. Project Value vs. Market Cap: A comparison of TriStar’s current $110 million CAD market cap against the project’s post-tax NPV of over $2 billion USD, highlighting the massive value gap created by these "artificial" legal delays.   Click here to visit the TriStar Gold website to learn more about the Company and Project.    Email me any follow up questions for Nick - Fleck@kereport.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 episode, we are joined by Rob Bruggeman, an experienced industry insider and equity analyst who recently launched The Wealthy Miner, a subscription-based research platform. Drawing on over 20 years of experience as an analyst and proprietary trader for major banks, Rob shares his unique analytical framework for identifying value in the resource sector. Rob explains his current preference for producers over early-stage explorers, citing the immediate benefits of rising metal prices and the risk of cost inflation for future developments. Key Discussion Points The Wealthy Miner Philosophy: Transitioning from a banking background to a disciplined research platform designed to provide an information advantage through rigorous analysis. Precious Metals Outlook: Why the current bull market in gold and silver remains intact, with the potential for gold to reach $10,000 as geopolitical and currency forces continue to align. Producers vs. Explorers: A deep dive into why near-term producers offer better risk-reward profiles today, as they have already "sunk" their costs and can capture immediate margins from high spot prices. Strategic Minerals and Copper: Assessing the long-term demand for copper driven by AI and electrification, and the specific criteria for identifying world-class copper porphyry discoveries. Stock Selection Criteria: How to differentiate between "lottery ticket" explorers and projects with legitimate potential for a "ten-bagger" return based on drill results and management execution.   Click here to visit The Wealthy Miner website - https://www.thewealthyminer.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 exploration update, we are joined by Greg McCunn, President and CEO of Great Pacific Gold (TSX.V: GPAC | OTCQX: GPGCF). Greg provides a comprehensive look at the company’s recent drill results and the rapid expansion of their exploration targets within the Wild Dog structural corridor in Papua New Guinea. The discussion covers the transition of drilling efforts from the Sinivit target to the Kavasuki target, early visuals from the maiden program at Kasie Ridge, and the high-priority channel sampling results from the Morgan and Magiabe West areas. Key Discussion Points: High-Grade Success at Kavasuki: Analysis of the first drill hole which returned 58.9 meters at 2.5 g/t AuEq. The Wild Dog Corridor Strategy: Insight into the 1-kilometer undrilled gap between Sinivit and Kavasuki and the company's plan to test if these areas form one continuous high-grade system. Maiden Drilling at Kasie Ridge: An update on the second drill rig testing a never-before-drilled lithocap and porphyry target, where early holes have already visualized chalcopyrite. New Discoveries at Morgan and Magiabe West: Review of channel samples, including 19.3 meters at 4.1 g/t AuEq at the Morgan Vein and 8.0 meters at 18.12g/t AuEq at Magiabe West, significantly extending the known strike length of these systems. 2026 Exploration Outlook: A look at the company’s $10 million working capital position and the systematic plan to utilize two rigs to build resources and test new pipeline targets through the remainder of the year.   If you have any follow up questions for Greg please me at Fleck@kereport.com.  Click here to visit the Great Pacific Gold website - https://gpacgold.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.

Brad Rourke, Executive Chairman of Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80), joins us to review the final drill results from the 2025 drill program at the Blueberry Contact Zone, and we look ahead to the fully-funded 50,000 metre 2026 Drill Program at the Scottie Gold Mine Project; located in the Golden Triangle of British Columbia.  Once all the data from both the 2025 and 2026 drill programs are analyzed, then an updated Resource Estimate and Feasibility Study will be released next year.   Brad has moved into the role of Executive Chairman, focused on strategic oversight, capital markets engagement, and corporate development initiatives. He has passed the leadership baton to Thomas Mumford, promoting him to CEO, as well as President. Mr. Rourke has been instrumental in assembling the Company's current management team and Board of Directors, attracting high quality investors and strategic partners such as Ocean Partners and Franco Nevada, which facilitated the discovery of the Blueberry Contact Zone, and securing funding for the Company's largest drill programs to date.   Dr. Thomas Mumford brings extensive experience in corporate strategy, capital markets, and resource project advancement, overseeing the Company's recent PEA and drilling execution strategies that have continued to advance and grow the Project while identifying future drill targets that may result in new discoveries. As CEO, he will lead the Company's operational execution, strategic planning, and stakeholder engagement.   Next we focused on the final assay results from the 2025 drill program that were announced over a few press releases in February, and which demonstrated continuity at Blueberry and district-scale upside across the property.  In 2025, Scottie completed its biggest drill season ever, drilling more than 27,300 metres across 126 holes. This included 17 specialized holes (2,300 metres) focused on ground stability and water studies important steps as the project advances toward potential future mine development.   The program delivered the best gold intercept ever recorded on the property, including 30.1 grams per tonne gold over 23.65 metres in drillhole # SR24-364.  Other recent headline holes returned 14.4 g/t Gold over 40.75 Metres in drillhole # SR25-483; 42.5 g/t Gold over 4.40 Metres in drillhole# SR25-381; 141 g/t Gold over 4.55 Metres in drillhole# SR25-470; and 54.6 g/t Gold over 7.05 Metres in drillhole # SR25-473.   Results from the season showed consistent high-grade gold throughout the project.   44% of holes hit more than 2 metres of 5+ g/t gold 30% of holes hit more than 2 metres of 10+ g/t gold 25% of holes hit more than 2 metres of 15+ g/t gold 20% of holes hit more than 2 metres of 20+ g/t gold 11% of holes hit more than 2 metres of 30+ g/t gold   Brad outlined the team at Scottie is now finalizing their interpretation of the 2025 assay results and will outline the 2026 exploration plans in the coming weeks for the 50,000 meter drill program focused on upgrading known ounces from inferred to indicated, as well as testing expansion targets like Wolf, P-Zone, C&D veins, and Domino.   After all the 2026 data comes in the Company will then update the Resource Estimate and complete the workstreams to announce the Feasibility Study.     If you have any questions for Thomas regarding Scottie Resources, then please email us at Fleck@kereport.com or  Shad@kereport.com.   In full disclosure, Shad is a shareholder of Scottie 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 Scottie Resources   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Paul Jones, President of Versamet Royalties (TSX: VMET) (NASDAQ: VMET), joins me to review the key metrics from the record Q4 and FY2025 financials, and to provide an update on key assets ramping up into production, as well as development-stage assets with workstreams working towards eventual production.  We also look ahead to future mid-sized royalty and streaming transactions to continue growing, and discuss the benefits of the coming big board US exchange listing.   Q4 2025 Financial Highlights   Record revenue of $18.4 million, an increase of 465% over Q4 2024. Record attributable gold equivalent ounces1(“GEOs”) of 4,430, an increase of 260% over Q4 2024. Record operating cash flow before working capital changes2of $13.9 million, an increase of 1,126% over Q4 2024. Record net income of $15.1 million, an increase of 307% over Q4 2024. Record adjusted EBITDA3of $13.6 million, an increase of 862% over Q4 2024.   Full Year 2025 Financial Highlights   Record revenue of $34.8 million, an increase of 189% over 2024. Record GEOs1of 9,815, an increase of 94% over 2024. Record operating cash flow before working capital changes2of $24.7 million, an increase of 277% over 2024. Record net income of $20.3 million, an increase of 931% over 2024. Record adjusted EBITDA3of $23.0 million, an increase of 336% over 2024.   2025 Corporate Highlights Acquired a copper stream on Endeavour Silver’s operating Kolpa mine in Peru. Listed on the TSX Venture Exchange and subsequently uplisted to the Toronto Stock Exchange. Acquired a significant silver stream on the operating Rosh Pinah Zinc mine in Namibia and a polymetallic royalty on the operating Santa Rita mine in Brazil, both operated by Appian Capital Advisory Limited (“Appian”). Welcomed Nemesia S.à.r.l., a private company controlled by the trusts of the Lundin Family, and Tether Investments S.A. de C.V. (“Tether”), as new shareholders of the Company. Received inaugural royalty and stream revenues from the Blackwater, Kolpa, Kiaka, Rosh Pinah, and Santa Rita mines.   Post Quarter Highlights Completed a C$142 million equity financing, adding several new institutional and retail shareholders. Completed a C$22 million private placement with Tether, and separately welcomed Gold Mountains Asset Management Limited, a subsidiary of Zijin Mining Group Co., Ltd., as a new shareholder of the Company. Listed on the TSX Venture Exchange and subsequently uplisted to the Toronto Stock Exchange. Fully repaid $80 million on the term loan and repaid $46 million on the revolving credit facility, reducing the amount drawn to $45 million as of March 12, 2026. Increased revolving credit facility capacity to $225 million, including a $25 million accordion option. Common shares commenced trading on the NASDAQ.     If you have any questions for Paul regarding Versamet Royalties, then please email those in to me at  Shad@kereport.com.     Click here to follow the latest news from Versamet Royalties     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this daily editorial, we are joined by TG Watkins, Director of Stocks at Simpler Trading and Editor of The Profit Pilot. TG provides a deep dive into the technical setups defining the current market landscape, characterized by aggressive volatility and shifting geopolitical narratives. Key Discussion Points: Monetizing the Hedges: TG explains the recent "choppy" price action in the S&P 500, where large participants are cashing in puts on market drops, preventing a total crash while maintaining a downward bias. The Iran Conflict Impact: A look at how geopolitical tensions have driven market fear and how a potential de-escalation could trigger a massive "risk-on" rotation. Bottoming Signals in Specific Sectors: Why the Homebuilders (XHB) and Cryptocurrency markets may be signaling a short-term bottom despite broader market weakness. The Outlook for Commodities: An analysis of why Oil (USO) may be double-topping and why Gold (GDX) and Silver (SLV) might be due for a consolidation period as money rotates back into equities and tech. Key Stocks to Watch: Tactical commentary on leading names like NVIDIA (NVDA) and Tesla (TSLA) as barometers for overall market health.   Stocks and Symbols Mentioned: S&P 500 ($SPY), Homebuilders ($XHB, $NAIL), Oil ($USO), Gold ($GDX, $GDXJ), Silver ($SLV), Bitcoin ($BTC), Wolfspeed ($WOLF), Iren ($IREN), Cipher Mining ($CIFR), Hut 8 ($HUT), NVIDIA ($NVDA), Tesla ($TSLA).   Click here to visit the Simpler Trading website - https://www.simplertrading.com/ Click here to visit TG’s site - Profit Pilot - https://www.profit-pilot.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, we sit down with Charles Funk, President and CEO of Heliostar Metals (TSX-V: HSTR | OTCQX: HSTXF), to discuss the company’s current gold current gold operations and exploration in Mexico. Following a 60% increase in production guidance, Charles details how the team is optimizing operations in Mexico and leveraging innovative techniques to maximize production at high gold prices. Key Discussion Points: Production Growth and Guidance: Charles explains how the company has lifted production to 50-55,000 ounces this year from its Sonora and Durango mines, with a clear organic path to reach 300,000 ounces and an ultimate goal of 500,000 ounces by the end of the decade. Innovation at La Colorada: A deep dive into the injection leaching process at the La Colorada leach pads, a low-cost method. Aggressive Exploration Strategy: With nine drill rigs currently turning, the company is focusing on feasibility drilling at Ana Paula while simultaneously seeking to extend the mine life at San Agustin. Strategic Asset Management: The reasoning behind the recent option agreement with Zacatecas Silver for non-core properties. Jurisdictional Outlook in Mexico: An honest conversation regarding the current operating environment in Mexico and why Heliostar remains committed to the region despite broader market concerns.   Please email me at Fleck@kereport.com with any follow up questions for the team at Heliostar Metals.    Click here to visit the Heliostar Metals website to learn more about the Company - https://www.heliostarmetals.com/   ---------- For more market commentary & interview summaries, subscribe to our Substacks:  The KE Report: https://kereport.substack.com/  Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

[Recorded March 13th, 2026 – There is a technical glitch in Danie’s display for the first 45 seconds and then it comes into the video]  —  Michael Rowley, President & CEO, Dr. Danie Grobler, Vice President of Exploration, and Justin Modroo, Project Geophysicist, of Stillwater Critical Minerals (TSX.V: PGE – OTCQB: PGEZF) provide different layers of input to this exclusive video roundtable with these 3 officers of the Company. We get a visual review the evolving geological understanding from the 2025 drill program, with key exploration initiatives on tap for 2026, and the value proposition at the Stillwater West Ni-PGE-Cu-Co + Au project in Montana.   Mike outlines that their Stillwater West Project is a very large polymetallic resource with a substantial copper inventory and the largest nickel project in an active U.S. mining district, in addition to palladium, platinum, rhodium, copper, cobalt, chromium, and gold; plus as yet unquantified amounts of ruthenium and iridium. Overall, Stillwater West is uniquely positioned to become a primary source of 10 commodities now listed as critical, given their location immediately adjacent to Sibanye-Stillwater’s operating mine complex in Montana.   Danie shares an overview of the structural controls of the geological environment that hosts the mineralization, using the South African Bushveld Igneous Complex as analog, and how their five “Platreef-style” (or contact-type) Ni-Cu-Co-PGE+Au deposits may tie together in a larger sense.   He goes on to outline why their 2025 exploration initiatives were successful and shows the semi-massive to massive sulfides in the drill core, and in the assays that have been reported thus far.  He also shares how there are several mineralized events in the sulfides bringing in pockets of higher-grade polymetallic zones within the overall bulk tonnage type of deposit   Justin goes on to highlight what they are learning from the geophysical surveys over their district-scale land package, and why their team has high-confidence in the upcoming 2026 drill program, to keep stepping out along the parameters and character of this mineralized trend.   Highlights and upcoming catalysts:   The 2025 drill campaign is now complete, totaling 3,471m in eight holes, with all assays pending near-term release (the first 2 holes results were leased in news out today a few days after the recording of this interview) The updated MRE will incorporate 14 drill holes totaling 5,781 meters (“m”) from the 2023 and 2025 programs, plus select historic holes not included in the current estimate. The updated Mineral Resource Estimate is expected in the latter part of H1 2026, and it will mark the next step in advancing Stillwater West as a potential large-scale source of ten minerals listed as critical in the U.S. The update will build upon the January 25, 2023, Inferred Mineral Resource and results will support further technical studies and economic assessments. The work is being led by Mr. Timothy Kuhl (MTS) and Dr. Danie Grobler (Stillwater) who together previously worked with the late Dr. Harry Parker on the resource estimation and technical reports for Ivanhoe Mines’ Platreef Mine.   To view the YouTube video of this discussion: https://youtu.be/LT1OhLVUPlQ   If you have any questions for the team at Stillwater Critical Minerals, then please email them into me at  Shad@kereport.com.   Click here to follow the latest news from Stillwater Critical Minerals   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

As geopolitical tensions in the Middle East muddy the economic waters, market veterans Rick Bensignor and Dana Lyons dive deep into the technical "cracks" forming beneath the surface of the major indices. This week’s discussion centers on a critical transition: moving away from overextended growth and the "Magnificent 7" toward defensive positioning, tactical cash reserves, and the long-term structural bull case for energy and select mining stocks. Segment 1 & 2 - In this podcast segment, Rick Bensignor, President of Bensignor Investment Strategies, discusses his tactical approach to the current "choppy" markets and why he has been raising cash in anticipation of a potential correction. He analyzes technical signals for the S&P 500, the implications of rising 10-year Treasury yields, and provides his outlook on the energy, precious metals, and cryptocurrency sectors. Click here to visit the In The Know Trader website - https://intheknowtrader.com/   Segment 3 & 4 - In this interview, Dana Lyons, a fund manager and editor of Lyons Share Pro, discusses current market volatility and his use of inverse ETFs to hedge against near-term risks in broad indexes. He also provides technical outlooks on various sectors, including a bullish long-term view on energy stocks and a cautious perspective on the precious metals complex. Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services - https://lyonssharepro.com/   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!   For more market commentary & interview summaries, subscribe to our Substacks: 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.  

Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnican on X) and publisher of Goldfinger Capital on YouTube and Substack, joins us for another wide-ranging discussion on the shifting sector sentiment, the technical outlook on gold, silver, copper, the fundamental valuations in producers and developers, thoughts on recent merger and acquisition deals, and the value propositions in 3 exploration stocks.   We start off unpacking the seasonality of the metals and mining stock prices from tax loss selling season, into the year-end Santa Claus rally, the blistering Q1 run higher in January, the post-VRIC correction and peak in investor sentiment late in that month, the February chop, and the PDAC curse and further corrective moves down in March.   Robert fields a few of our questions on how he is viewing the changes in valuations to the gold and silver stocks from last year into this year, and even from January peaks to recent corrective moves.  We opine what aspects are important with regards to contrast in PM producers margin expansion versus their more recent share price corrections Robert highlights a few P/NAV considerations for producers and developers, that have changed over the last year The discussion then shifts to why we aren’t witnessing a bigger string of M&A transactions and why the valuations aren’t higher? The conversation on gold stocks ranges from valuations in large producers like Newmont and Agnico Eagle down to quality developers like Banyan Gold (TSXV:BYN)(OTCQB:BYAGF) and best-in-class advanced explorers like Snowline Gold Corp. (TSX:SGD)(OTCQB:SNWGF). We also dissect the nuance around ounce-in-the-ground valuations, and the other criteria that can affect market perceptions, using the Fresnillo takeover of Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) as a case study.   Next we dive into the copper market, and how this is where we are actually seeing more merger and acquisition deals. Robert highlights the recent takeover of Arizona Sonoran Copper Company Inc. (TSX: ASCU; OTCQX: ASCUF) Cactus Project at all-time highs by Hudbay Minerals Inc. (TSX, NYSE: HBM) as the more ideal type of acquisition that we’d like to see more of in this space. We also note the Eldorado Gold acquisition of Foran Mining, and the Faraday Copper acquisition of BHP’s San Manuel Project as 2 other recent copper M&A deals. He also highlights the lack of quality tier-1 gold and silver development projects, and that this may be why more of the senior gold producers are focused on getting strategic positions into copper assets.   With regards to the explorers, Robert is focused on exciting mineral belts that may host a string of new discoveries in US states like Idaho, Nevada, and Arizona or Canadian provinces like British Columbia or the Yukon. Robert highlights 3 explorers with compelling news catalysts on tap that have his attention this year in Kingfisher Metals Corp. (TSXV:KFR) OTCQB:KGFMF), StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF), and Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF)   Wrapping up, Robert provides some best practices regarding navigating the trading volatility, when raise cash in one’s portfolio, when to considering trimming or selling, and how to rotate funds based on fundamental or technical factors.   Follow Robert’s analysis on Substack . https://ceo.ca/@goldfinger . Click here to follow Robert on X/Twitter . https://www.youtube.com/@GoldfingerCapital/videos   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this episode, we welcome back Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc joins us to unpack the heavy impact of current geopolitical tensions on global markets, specifically focusing on the escalating conflict in Iran. We dive deep into how war is currently the primary fundamental driving market behavior, overshadowing even major domestic data like US GDP revisions.  Key Discussion Points: The Energy Inflation Formula: For every 10% increase in the price of oil, the PCE deflator typically sees a 0.2% boost. We discuss the massive 54% spike in WTI contracts over the last month and what that means for your wallet at the pump. Central Bank Pivot or Pause: Before the conflict, markets were pricing in multiple Fed rate cuts; now, the odds of a cut before the midterms have vanished, with some even anticipating potential hikes. The Dollar as a Safety Net: Why the US Dollar remains a "safe haven" during global unrest, fueled by market positioning adjustments and the liquidation of higher-risk assets like Mexican bonds. The Myth of Stagflation: Marc challenges the current stagflation narrative by comparing today’s energy dependency to the 1970s, suggesting that while growth is slowing, we aren't seeing a repeat of the double-digit misery of the past. Global Interest Rate Swings: A look at how the Eurozone and UK have shifted from expecting rate cuts to bracing for hikes as inflation expectations become unanchored.   Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/   ------------- For more market commentary & interview summaries, subscribe to our Substacks:  The KE Report: https://kereport.substack.com/  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.

Stefan Sklepowicz, CEO of Kirkland Lake Discoveries (TSXV: KLDC) (OTCID: KLKLF), joins us for a company introduction and exploration update on their ongoing 25,000 meter drill program across their 400-km2 exploration portfolio in the Kirkland Lake region of Ontario's Abitibi Greenstone Belt; one of the most prolific mining districts in the world. The Company's properties span key fault zones, geophysical anomalies, and volcanic-sedimentary contacts within the Blake River Group, a highly prospective assemblage known to host both gold and polymetallic massive-sulphide deposits.   With exploration permits now in place, KLDC is positioned to advance a strong pipeline of drill-ready targets at KL South, KL East and KL West, supported by multiple anomalous soil trends, historical mineral showings, and structurally controlled intersections.   Building on exciting drill results from Summer 2025, KLDC has initiated a 25,000m drill program following up on drill-ready targets at both the KL West site and the newly acquired the Mirado Gold Project at KL South. The team combines strong technical experience with a focus on smart, efficient exploration designed to deliver results.   12,000 meters have already been drilled at KL West, where only 1,000 meters of assays have been returned back thus far, from the Wolverine Bend target, with the balance of meters drilled still at the assay lab and expected back in the near future.  One of the drills from KL West is being moved down to KL South to put in about 7,000 meters of drilling around the historic Mirado Gold Mine, where there is already a known historic 440,000 ounce gold resource in place.   The system is open in all directions and at depth under historic drilling, so the company will be doing some confirmation holes and some step-out or deeper holes to expand the mineralized footprint.   We discuss the financial health of the company, where this drill program is fully funded, the key strategic shareholders, and the industry experience and background of the management team and board of directors. The company is also expecting the US shares to list on the OTCQB in the very near future.   If you have any questions for Stefan about Kirkland Lake Discoveries then please email them into us at Fleck@kereport.com or Shad@kereport.com.   Click here to follow the latest news from Kirkland Lake Discoveries   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the key takeaways he got from attending the recent PDAC conference in terms of attendance, investor sentiment, reaction to company newsflow before and during the event, and conversations with other investors and management teams.   In addition, he reviews the value proposition that has his attention in the corporate news and strategies from 3 advanced gold and silver developers looking to go into the 2nd wave of the Lassonde Curve on the pathway to production in the next 1-2 years     >> The companies we discussed in the interview are:   Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) – On March 10, 2026, the Company announced that the Environmental Council (COEMA) for the state of Pará has issued the Licença Prévia ("LP") for the Full Mining License at Cuiú Cuiú Gold District, Brazil.   Sonoro Gold Corp. (TSXV: SGO) (OTCQB: SMOFF) (FRA: 23SP) – On Feb. 28, 2026 the Company announced the results of an independent updated Mineral Resource Estimate (“MRE”) and updated Preliminary Economic Assessment (“PEA”) on the Company’s Cerro Caliche gold project located in Sonora State, Mexico. The PEA demonstrates the potential viability for a ten-year life of mine (“LOM”), open pit, heap leach mining operation with an initial one-year ramp up production rate of 12,000 tonnes per day (“tpd”) and an increase to 16,000 tpd for the remaining LOM.   Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB: GPPRF) – On March 02, 2026 they announced entering into a Project Development Funding Agreement with the U.S. International Development Finance Corporation (“DFC”), the development finance institution of the United States Government. Under the Agreement, DFC will provide up to US$5 million in milestone-based project development funding to support defined project development activities for the Quiulacocha Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering the possibility of providing up to US$300 million in long term direct loan financing to support construction of the Project.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik’s analysis over at The Hedgeless Horseman website     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

George Ogilvie, President and CEO of Arizona Sonoran Copper (TSX:ASCU – OTCQX:ASCUF), joins us to unpack the key news from March 02, 2026 that Hudbay Minerals Inc. (TSX, NYSE: HBM) and Arizona Sonoran Copper Company announced that they have entered into a definitive agreement pursuant to which Hudbay has agreed to acquire all of the issued and outstanding common shares of ASCU, not already owned by Hudbay, for consideration of 0.242 of a common share of Hudbay per common share of ASCU.   The offer implies a value of C$9.35 per ASCU share based on Hudbay's closing share price on the Toronto Stock Exchange (“TSX”) on February 27, 2026, and represents a premium of 30% to ASCU’s closing share price on February 27, 2026. The offer implies a premium of 36% based on Hudbay’s and ASCU’s 20-day volume-weighted-average share prices ("VWAP") on the TSX for the period ending February 27, 2026. The Transaction will result in Hudbay owning a 100% interest in ASCU’s Cactus project.   Key Takeaways:   Establishes a major copper hub in southern Arizona with the addition of the Cactus project to Hudbay’s existing Arizona business, including the Copper World project  Strategically positions Hudbay to become a leading supplier of domestic U.S. refined copper with Copper World and Cactus both expected to be significant producers of copper cathode Provides a clear pathway to scale Hudbay’s annual copper production from ~125,000 tonnes today to more than 250,000 tonnes by 2030 with Copper World and other near term optimization projects, and potential to grow to more than 350,000 tonnes with Cactus  Significant operational efficiencies and regional synergies are expected with the staged development of Copper World and Cactus Accretive to Hudbay's shareholders on a net asset value per share basis and on a reserves and resources per share basis with the addition of a high-quality asset in a core jurisdiction, positioning Hudbay’s next phase of growth once Copper World is in production Compelling premium for Arizona Sonoran shareholders with continued participation in the long‑term value of the Cactus project through ownership in Hudbay and immediate exposure to Hudbay’s diversified operating platform, significant free cash flow generation, and industry-leading organic growth pipeline. *     If you have any follow up questions for George about Arizona Sonoran, then please email us at Fleck@kereport.com  or Shad@kereport.com.   In full disclosure, Shad has a position in Arizona Sonoran Copper at the time of this recording and may chose to buy or sell shares at any time.   Click here to visit the Arizona Sonoran website to read over all the recent news.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we sit down with Mike Larson, Editor-in-Chief at MoneyShow, to navigate a complex market landscape defined by geopolitical tension and shifting investor sentiment. Following the recent MoneyShow conference in Las Vegas, Mike breaks down the massive volatility in energy markets and why the "boring" sectors are suddenly becoming the stars of the show. Key Discussion Highlights: The Geopolitical Risk Premium in Oil: A deep dive into the impact of the conflict in the Middle East, the effective blockade of the Strait of Hormuz, and why crude prices hit the $120 mark before retreating. The Strategic Petroleum Reserve (SPR) Response: Analyzing the IEA and G7’s "supply bazooka" and whether releasing 400 million barrels is enough to stabilize global markets long-term. Sector Rotation and the Value Resurgence: Why the $XLE (Energy), $XLU (Utilities), and $XLF (Financials) are seeing increased interest as investors rotate out of growth and into value. Inflation and the Federal Reserve’s Dilemma: How rising energy costs are complicating the inflation narrative, potentially pushing back expected rate cuts for 2026. The Outlook for Precious Metals: Why Gold and Silver remain in a "chop" phase despite the global chaos and when we might expect the next leg up in the bull market.   Click here to find out about the upcoming MoneyShow conferences - https://www.moneyshow.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 update, I am joined by Tara Christie, President and CEO of Banyan Gold (TSX.V: BYN | OTCQB: BYAGF), to discuss a series of major milestones at the AurMac Gold Project in the Yukon. The conversation centers on Franco-Nevada’s recent $52.2 million purchase of a pre-existing royalty on the project, as well as the progress of Banyan’s fully funded 40,000-meter drill program. Key Discussion Points: Franco-Nevada Royalty Acquisition: Tara explains the implications of Franco-Nevada acquiring a 6% NSR (which Banyan can reduce to 1%) for $52.2 million, viewing it as a massive institutional validation of AurMac’s long-term mine potential. The 2026 Drill Program: An overview of the 40,000+ meter campaign currently underway, focused on both resource infill and aggressive step-out drilling, as well as new target drilling across the project. High-Grade Consistency: Analysis of recent drill results from the Airstrip deposit, confirming predictable, high-grade mineralization exceeding 1 g/t gold in the project's early-year mining zones. Regional Exploration Upside: Insight into ten new regional targets across Banyan’s 720 square kilometer land package. Upcoming Catalysts: A look ahead at the news flow for the remainder of 2026, including pending assay results, a Mineral Resource Estimate update in Q2, and the Preliminary Economic Assessment (PEA) slated for the second half of the 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

In this corporate update, we are joined by Simon Dyakowski, President and CEO of Aztec Minerals (TSX.V: AZT | OTCQB: AZZTF). Simon discusses the significant implications of recent drill results from the Tombstone Project in Arizona, highlighting a major expansion of the exploration program and the geological connection of key mineralized zones. Key Discussion Points Expansion of the 2026 Drill Program: Building on strong results, the company has added 4,500 meters of RC drilling, bringing the total program to approximately 16,700 meters to further test the Westside and Contention zones. Connecting the Mineralized Zones: Recent drilling has successfully demonstrated continuous mineralization between the North Contention pit and the Westside zones, significantly increasing the potential scale of the project. Gold and Silver Zonation: Simon explains the metal distribution across the property, noting that the central Contention zone leans gold-rich, while the Westside and Southern extensions show increasing silver dominance. Deep Porphyry and CRD Targets: Beyond shallow oxide targets, the team is investigating deep-seated potential, utilizing down-hole geophysics and deep core drilling to vector into possible Carbonate Replacement Deposits (CRD) and porphyry systems. Strong Financial Position: With a budget of $1.2 million USD for the expanded program and approximately $7.5 million CAD in the treasury, Aztec is fully funded to execute its aggressive 2026 exploration strategy.   Please email me any questions you have for Simon. My email address is Fleck@kereport.com.  Click here to visit the Aztec Minerals website - https://aztecminerals.com/   ----------------- 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.