The KE Report

In this weekend edition, we bring you live insights from the floor of the Las Vegas MoneyShow followed by an in-depth energy sector deep dive. The common thread: a global commodity supercycle driven by supply chain shifts, AI-related infrastructure demand, and significant consolidation in the oil and gas space. Segment 1 & 2 - In this live KER QuickTake recorded from the MoneyShow in Las Vegas, Cory and Shad discuss the current commodity supercycle and the shift toward domestic sourcing of critical minerals. They analyze investment opportunities across the precious, base, and energy metal sectors, emphasizing the importance of selecting mid-tier producers and companies with established growth pathways in the current bull market. Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, discusses the recent rebound in oil prices driven by geopolitical tensions in Iran and high demand for diesel. He also explores the growth and investment potential in energy stocks, specifically focusing on the recent mergers and acquisitions involving companies like Devon Energy and Whitecap Resources. Click here to visit the Energy Prospectus Group website for more energy market and stock analysis - http://www.energyprospectus.com/   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!   For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this company update, we are joined by Cor Coe, CEO and Director of Sitka Gold (TSX.V: SIG | OTCQB: SITKF | FRA: 1R1), to discuss the updated Mineral Resource Estimate (MRE) for the RC Gold Project, in the Tombstone Gold Belt, Yukon. With the addition of the maiden resource at the Rhosgobel deposit, Sitka’s total gold resource is now 5.2-million-ounces (1.29 million ounces gold indicated and 3.83 million ounces gold inferred). Key Discussion Points: The Rhosgobel Breakthrough: Cor explains the significance of the maiden resource at Rhosgobel, which contributed 2.25 million ounces after only five months of total drilling. Near-Surface Economics: A breakdown of the high-grade components at surface, including a significant zone grading over 1.0 g/t gold, which provides potential for favorable project economics and minimal stripping. Expansion Strategy for 2026: Insights into the upcoming 60,000-meter drill program, with 30,000 meters dedicated specifically to stepping out and defining the true scale of the Rhosgobel deposit. Tier-1 Asset Potential: A comparison to other major Yukon intrusions like Fort Knox and Eagle Mine. Exploration Beyond the Core: A look at the "Blue Sky" potential across the Clear Creek Intrusive Complex, where nine of eleven intrusions have already shown gold mineralization.   If you have any follow up questions for the team at Sitka Gold please email me at Fleck@kereport.com.    Click here visit the Sitka Gold website to learn more about the Company - https://sitkagoldcorp.com/   --------------------- For more market commentary & interview summaries, subscribe to our Substacks:  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.

Glenn Jessome, President & CEO of Silver Tiger Metals (TSX.V:SLVR) (OTCQX:SLVTF), joins me for a candid and nuanced conversation on why the Company elected to take the recent financing instead of a larger debt package; while also still leveraging the debt term sheets in place for the combined surface and underground development of the El Tigre Silver-Gold Project in Sonora, Mexico.   We start off reviewing the reality that negotiating a debt deal is much more complex, with more restrictions and debt covenants, than most people realize.   The company has narrowed the 3 debt term providers down to just 2 now, and are they are still pursuing debt for the larger overall needs.   Glenn unpacks the sequence of events and his thought process on why they opted to go with the financing instead, and outlines the decision making process for those investors that were surprised, confused, or that had submitted questions about this transaction.   On Feb. 18, 2026 Silver Tiger Metals announced it had closed its previously announced bought deal offering of common shares of the Company with a syndicate of underwriters. An aggregate of 49,146,400 Shares at a price of C$1.17 per Share for gross proceeds to the Company of C$57,501,288 were sold, which includes the exercise in full of the Underwriters' over-allotment option. The Company intends to use the proceeds of the Offering to fund exploration and development expenditures at the Company's El Tigre Project in Mexico, as well as for working capital and general corporate purposes.   We also dive into all the construction activities already underway on the ground at El Tigre, and what criteria are being decided on in the background by the board and management team to be able to announce the official construction decision in March.     If you have any follow up questions for Glenn regarding Silver Tiger Metals, then please email them into me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Silver Tiger Metals at the time of this recording, and may choose to buy or sell shares at any time.   Click here to follow the latest news from Silver Tiger Metals   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 update, we sit down with Mike Spreadborough, Executive Co-Chairman, and Quinton Hennigh, Non-Executive Co-Chairman of Novo Resources Corp (TSX: NVO | ASX: NVO | OTCQX: NSRPF). to discuss the recent news out of the company. The team provides a deep dive into their recent C$5.8 million equity raise, the performance of their investment in San Cristobal Mining (SCM), and an ambitious drilling schedule set to kick off in Q2 2026. Discussion Highlights: Strategic Equity Financing: Mike outlines the details of the C$5.8 million raise, explaining how the funds will be deployed to accelerate exploration programs across the Pilbara and Belltopper projects. San Cristobal Mining (SCM) Value: The team discusses Novo’s strategic stake in SCM, a private silver producer. Quinton explains the decision to hold the shares due to strong silver prices and consistent dividend yields, which help offset corporate overhead. Q2 Pilbara Drill Plans: A breakdown of the upcoming 12-week program starting in April, targeting high-priority sites including Wylloo (gold-silver-antimony), Balla Balla, and the maiden drilling at Teichman. Belltopper Project Potential: Quinton highlights the "Fosterville-style" characteristics of the Belltopper project in Victoria. With a target modeling 880,000 ounces of gold (upside case), the company is preparing for a major diamond and RC program later this year. Egina JV Update: Insight into the partnership with Northern Star (ASX: NST), including expectations for a resource update at the Hemi gold project and the broader strategy for the Egina Joint Venture.   Please email me with any follow up questions for Mike, Quinton, and the team at Novo Resources. My email address is Fleck@kereport.com.     Click here to visit the Novo Resources website to learn more about all the projects and exploration programs.    ------------------ For more market commentary & interview summaries, subscribe to our Substacks:  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 special daily editorial, we are pleased to introduce Trader Ferg, a contrarian investor and author of the Trader Ferg Substack. With a focus on deeply unloved, cyclical sectors, Trader Ferg joins us to share which sectors and subsectors of stocks have the best long-term upside, mostly in commodities.  Key Discussion Points Oil Services and Offshore Drilling: An analysis of the "beat-up" oil service space, specifically focusing on the survivors of the 2014 and 2020 downturns and the massive potential in drill rig fleets as capacity remains tight. Uranium and Nuclear Energy: Why uranium remains one of the most "airtight" investment theses in the market, with a focus on the necessity of price floors reaching triple digits to incentivize essential greenfield production. Global Exchange Operators: A unique look at the "toll road" business model of exchanges (EXS).    Click here to read over Trader Ferg’s background. - https://traderferg.substack.com/about     Click here to visit Trader Ferg’s Substack. - https://traderferg.substack.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 introduce Verdera Energy (TSX.V: V), a newly public uranium company that recently began trading on the TSX Venture Exchange. I am joined by Janet Lee-Sheriff, Chair of the Board and CEO, to discuss the company’s strategic position in New Mexico and its path forward in the domestic energy sector. Verdera Energy now holds the largest land position in the historic Grants Uranium District in New Mexico. Key Discussion Points: Public Debut and Strategic Assets: Verdera Energy began trading under the symbol V on the TSX Venture Exchange on February 24, 2026, following a spin-out of assets from Encore Energy. Dominant Land Position: The company controls 400 square miles of "checkerboard" lands in New Mexico, representing the largest land position in the state's premier uranium district. Unrivaled Data Advantage: Verdera holds an extensive proprietary database, including over 120,000 drill hole logs, which provides a significant head start in modernizing technical reports and identifying new opportunities. Project Pipeline: Updates on the Crownpoint-Hosta Butte and West Largo projects, including plans for community engagement and the application for new drill permits to expand known resources. Financial Overview: The company recently completed a $20 million raise, providing a two-year cash runway to execute its exploration and development strategy.   Click here to visit the Verdera Energy 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 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 of The KE Report, I sit down with Dana Lyons, Fund Manager and Editor of The Lyons Share Pro, to discuss a significant regime shift currently unfolding in the financial markets. After nearly two decades of dominance by US large-cap growth and tech stocks, the tide appears to be turning toward value sectors and international equities. Dana provides a technical deep dive into why this rotation may just be in its infancy and identifies which global markets are finally breaking out of multi-decade stagnation. We also explore the recent volatility in the precious metals sector and how to strategically position for the next leg of the bull market in miners. Key Discussion Points: The Value vs. Growth Reversal: Dana explains why the 20-year outperformance of growth stocks may have peaked in late 2025, signaling a long-term shift toward consumer staples, utilities, and industrials. Broad Market Strength: A look at why "true" broad averages - including equal-weight and mid-cap indices - are showing more sustainable strength than the tech-heavy S&P 500 or Nasdaq 100. International Equity Breakouts: Why markets in Europe, Japan, and emerging economies like Peru and Argentina are finally clearing 25-year resistance levels, offering a fresh alternative to domestic US stocks. Precious Metals Strategy: An analysis of the recent "mini-crash" in silver and gold, the importance of hedging at extension levels, and why the current consolidation is a buying opportunity for gold and silver miners.   Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services - https://lyonssharepro.com/   ---------------------- For more market commentary & interview summaries, subscribe to our Substacks:  The KE Report: https://kereport.substack.com/  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 February 20th, 2026] Michael Rowley, President & CEO, of Stillwater Critical Minerals (TSX.V: PGE – OTCQB: PGEZF), joins me to review the key catalysts on tap for 2026 and beyond. In the near-term, the focus will be on releasing drill assay results from the 2025 exploration program, the evolving understanding of the broader geological model, and that once all results are processed there will be an update to the NI 43-101-compliant Mineral Resource Estimate (“MRE”) for the Company’s 100%-owned Stillwater West critical minerals project in Montana, USA.   We review the advantages polymetallic nature of the Stillwater West Project, which hosts nickel, copper, cobalt, chromium, platinum, palladium, rhodium, ruthenium, iridium, gold, and osmium – a unique mix of battery, alloy, and platinum group metals essential to clean energy, defense, and technology supply chains. We contrast the benefits with the complexity involved with communicating to the marketplace and policy makers with regards precisely which metals are driving the value forwards.   Mike explains that this new geological model and understanding of the Stillwater West Project through the lens of the South African Bushveld Complex as a parallel is so crucial to unlocking the value proposition of the Project and for future exploration targeting.  It is also quite constructive have  Dr. Danie Grobler, Vice President of Exploration, Albie Brits, Senior Geologist, provide different layers of input and collaboration with Tim Kuhl and the Mine Technical Services (MTS) team on the updated Stillwater resource estimate. Their extensive experience in Platreef-type geology and resource estimation is expected to provide significant value to the Project.       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.     We go on to discuss with Mike the challenges and opportunities in defining the large-scale polymetallic and critical mineral resources at Stillwater West; and why it has the attention of large major producers, like their strategic partner Glencore, along with attention from the US and Montana government. We discuss how the nickel, copper, cobalt, and chrome tie into the growing industry demands for battery metals, energy metals, and defense metals. Additionally, with platinum, palladium, rhodium, and gold all demonstrating strong recent market performance, Stillwater West offers significant leverage to these precious metals.   If you have any questions for Mike or 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.

In this live broadcast (recorded on February 24th) from the floor of the MoneyShow in Las Vegas, we sit down with TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot. TG provides a candid look at his current market posture, explaining why he recently shifted to a 90% cash position and how recent price action is forcing a reassessment of short-term bearishness. The conversation dives deep into the technical "squeeze" currently defining major indices, the surprising resilience of small-cap stocks, and the rotation out of the "Magnificent Seven" into defensive sectors. TG also breaks down the "picks and shovels" AI trade, the recent volatility in precious metals, and why he avoids entering new positions immediately ahead of earnings reports. Key Discussion Points: Defensive Market Posture: Why TG moved heavily into cash and closed short positions after the S&P 500 and Nasdaq struggled to break below key weekly support levels. The S&P 493 vs. Mega-Caps: Analysis of the rotation into consumer staples (XLP) and utilities as the market finds balance outside of major tech names. AI and Energy Infrastructure: Exploring the strength in "side departments" like power producers (WOLF, BE) and software (IGV) that support the broader AI build-out. Commodity Volatility: Examining the "euphoric" move and subsequent digestion in Gold and the dramatic price swings in Silver and Copper. The Earnings Strategy: A look at why TG utilizes the hourly 15-minute timeframes to navigate post-earnings volatility in names like Meta (META) and CoreWeave.   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 are joined by Greg McCunn, President and CEO of Great Pacific Gold (TSXV: GPAC | OTCQX: GPGCF | FSE: V3H), to discuss the accelerating exploration program at the Wild Dog property. Great Pacific Gold is currently exploring within a 15km epithermal corridor, with two rigs turning.  Key Discussion Points: New Discovery at Magiabe West: A significant new discovery was made through rock chip sampling, yielding results over 100 g/t gold and 2.5% to 4% copper. This area is scheduled for drilling in Q2 2026 Sinivit Drilling Results: Greg reviews the recent assay results from holes 16, 17, and 18. While a faulted area was encountered at depth, the team is analyzing the data to understand the plunge of the high-grade mineralization, which remains open to the north and at depth. The Kavasuki Target Drilling: Rig 1 has moved to Kavasuki, located 1km north of Sinivit. Initial drilling has already intersected mineralization in the first hole of a planned 7-hole program. Kasie Ridge High-Reward Potential: Rig 2 has commenced drilling at the Kasie Ridge target. This high-sulfidation epithermal system is a "game-changer" target located 4.5km north of Sinivit, with the potential for a large underlying porphyry body. Exploration Pipeline and Financial Position: With over $10 million in the treasury, the company is well-funded to maintain the aggressive drilling program across the project. Refer to the map below to understand the locations of the priority targets.    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.

In this episode of the KE Report, we sit down with Caleb Stroup, President and CEO of Headwater Gold (CSE: HWG | OTCQX: HWAUF), for a comprehensive update on the company’s expanding exploration portfolio. With recent news regarding geophysical surveys and the conclusion of several drilling programs, Caleb provides a clear roadmap for what investors can expect in the coming months. Headwater Gold is actively advancing high-grade epithermal gold targets in the Western US through strategic partnerships with industry giants like Newmont and OceanaGold. Key Discussion Points: Jake Creek Project Milestones: The company is finishing final drill targeting at the Jake Creek project in partnership with OceanaGold. This program follows up on historical results of 45 meters at 1g/t gold, with an initial drill test scheduled for early summer 2026. Drilling at Lodestar and TJ: Drilling has recently concluded at both the Lodestar project (funded by Newmont) and the TJ project (funded by OceanaGold). The team is currently awaiting lab assays, with results expected within the next four to six weeks. Exploration Strategy and Model: Caleb explains the "fully preserved epithermal system" model they are targeting, which involves identifying surface alteration and vectoring with drilling to find high-grade zones at depth. Upgraded U.S. Listing: Discussion on the company's recent move to the OTCQX market under the symbol HWAUF, reflecting a significant increase in trading volume and interest from U.S. investors.   Please email your questions for Caleb to us at Fleck@kereport.com and Shad@kereport.com.  Click here to visit the Headwater Gold website to read over the recent news - https://headwatergold.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 Brennen Zerb, Vice President of Investor Relations at FinEx Metals (TSX-V: FINX). Brennen provides an in-depth recap of the company’s recent activities in Northern Finland, focusing on the maiden drill program at their flagship project and the new exploration licenses in a world-class district. Key Discussion Points Maiden Drill Program at Ruoppa: Brennen recaps the ~2,500-meter program, confirming the presence of a robust gold mineralized system. High-grade highlights included intercepts of 5.79 g/t gold over 0.95 meters and 6 g/t gold over 1 meter, providing clear targets for the upcoming Phase 2 program. Phase 2 Exploration Strategy: A second phase of exploration is planned for Q2 2026, consisting of roughly 1,500 meters of drilling alongside additional geophysical and geochemical work to identify higher-density vein zones. The Caro Project Potential: Discussion on the newly permitted Kero Project, located in the same belt as Agnico Eagle’s Kittilä mine and Rupert Resources’ Ikkari discovery. Historic work at Kero has already shown high-grade potential, including surface samples up to 25.6 g/t gold.   If you have any follow up questions for Tero please email us. Fleck@kereport.com and Shad@kereport.com.    Click here to visit the FinEx Metals website to learn more about the Company.    --------------------- 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 Gilles Dessureau, the Vice President of Exploration at Sitka Gold Corp. (TSX.V: SIG | OTCQB: SITKF | FRA: 1R1). Gilles provides a comprehensive deep dive into the company’s newly launched 60,000-meter diamond drill program at their flagship RC Gold Project in the Yukon. Gilles outlines the strategic allocation of meters across the property and explains how the team plans to expand on the current 2.8-million-ounce gold resource (indicated + inferred). Key Discussion Points: The Rhosgobel Discovery: Approximately 30,000 meters are dedicated to the Rhosgobel zone, focusing on step-out and expansion drilling along a 1.1km strike length and testing the deposit at greater depths. Tungsten Component: Following high-grade crystal observations, the team is analyzing over 5,500 samples to define the volume and grade of the significant tungsten mineralization found within the gold system. Blackjack, Saddle, and Eiger Expansion: Allocation of 15,000 meters to further define and expand the existing resource areas, including testing new northern targets and high-grade zones at depth. The Pukelman-Contact Zone: A 10,000-meter program aimed at defining the structural corridor and potentially adding new resource volume to the project. Strategic Prioritization: How the company balances aggressive exploration of new targets like the Bear Paw Breccia while systematically upgrading inferred ounces to the indicated category.   If you have any follow up questions for Mike please email me at Fleck@kereport.com.    Click here visit the Sitka Gold website to learn more about the Company - https://sitkagoldcorp.com/   --------------- For more market commentary & interview summaries, subscribe to our Substacks:  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 special daily editorial, we are joined by Rick Rule, Founder of Rule Investment Media and Battle Bank. Rick provides a candid look at his recent portfolio maneuvers, explaining the logic behind selling physical silver to rotate into high-quality equities. We dive deep into the valuation disconnects currently plaguing the resource sector and why "boring" large-cap energy producers might be the smartest play for the next five years. Discussion Highlights: Silver Portfolio Rotation: Rick discusses selling 80% of his physical silver and 25% of his junior mining positions following recent parabolic moves to eliminate downside risk while maintaining upside through select silver stocks. The Silver/Stock Valuation Gap: Why silver equities are currently priced for $45 silver while the spot price sits significantly higher, creating a massive opportunity for a re-rating in high-quality miners. Energy Sector Outlook: An analysis of the under-investment in sustaining capital within the oil and gas industry and why Rick is favoring Canadian mid-tiers and majors like Exxon Mobil (XOM) and Schlumberger (SLB). The Pitfalls of Mining Metrics: A breakdown of why the "ounces in the ground" metric is often misleading and the importance of focusing on All-In Sustaining Costs (AISC) and Return on Capital Employed (ROIC). Investment Education: Details on the upcoming Rule Natural Resources Investment Symposium in Boca Raton and the free educational resources available through the Rule Classroom.   Click here to learn more and sign up for the Rule Symposium on July 6-10 in Boca Raton - https://cvent.me/XOqdLa?via=KER ------------------ 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.

Two veteran newsletter editors map out where the next big moves, and best entry points, could emerge across metals and energy in 2026. Gold and silver may be digesting a sharp correction, but both guests argue the bigger bull-market backdrop is intact, setting up a very “stock-picker” tape in mining. Meanwhile, energy remains out of favor, yet Josef Schachter lays out a tightening supply/demand case (and a clear playbook for scaling in before the next macro-driven run). Segment 1 & 2 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, shares his insights on the current state of the precious metals market. He discusses the potential for continued sideways trading in gold and silver before the next rally, while highlighting opportunities in exploration and development-stage companies like K2 Gold, Aris Minerals, and Banyan Gold. Brien also emphasizes the importance of individual company stories and the excitement of potential new discoveries across various global jurisdictions. Click here to learn more about the Gold Newsletter. - https://goldnewsletter.com/   Segment 3 & 4 - Josef Schachter, founder and editor of the Schachter Energy Report and author of the Eye on Energy report, discusses the macroeconomic drivers and company-specific trends within the oil and natural gas sectors. He reviews the 2026 World Outlook Conference, providing insights into OPEC+ production constraints, the impacts of global depletion rates, and the emerging energy demands driven by the "AI revolution". Schachter also highlights specific investment opportunities in companies such as InPlay Oil and Birchcliff Energy while outlining his expectations for a multi-decade commodity supercycle. Click here to learn more about The Schachter Energy Report - https://schachterenergyreport.ca/   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.

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Underground Alpha, joins me for our monthly longer-format discussion on different macroeconomic factors, continuing to fuel the commodities supercycle in silver, gold, copper, uranium, and opportunities in their related resource stocks.   We start off discussing the extreme volatility seen in the price charts for silver, gold, platinum, copper and other metals since our last conversation in early January.  We reviewed that prices climaxed into the uber-bullish sentiment witnessed at the Vancouver Resource Investment Conference in late January; right before correcting down hard in the days and week that followed.    After several more weeks of choppy price action, things are settling out; but Nick reiterates that investors should be embracing this volatility.  He points out that we are still in a structural bull market in the precious metals for a number of macroeconomic factors from interest rates, currencies, sovereign debt, ongoing central bank buying, the rise of BRICS nations, and even crypto stablecoin companies like Tether buying huge amounts of gold to back their Tether Gold (XAUt) product.   Tether is also directly investing into royalty companies like Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE), Gold Royalty Corp (NYSE American: GROY), and Versamet Royalties Corporation (TSX: VMET). Nick flagged that Streamex Corp. (NASDAQ: STEX), a leader in institutional-grade tokenization and real-world asset infrastructure, recently announced that it has acquired a 9.9% equity interest in Empress Royalty Corp. (TSXV:EMPR) (OTCQX:EMPYF).  We also discussed some of the larger transactions lately executed by the larger senior royalty companies like Wheaton Precious Metals (TSX: WPM) (NYSE: WPM), Franco-Nevada Corporation (TSX: FNV)(NYSE: FNV), and Triple Flag Precious Metals (TSX: TFPM, NYSE: TFPM).   While there have been quite a few new entrants into the royalty space over the last couple years, Nick believes that the demand is there for more royalty vehicles, and that it isn’t overcrowded yet, and we’ll likely keep seeing more new companies launched as this sector continues to expand.    He pointed out the some of the quality prospect generator companies, like Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) and Almadex Minerals Ltd. (TSX-V: DEX), have also accumulated royalties within their asset portfolios that provide future optionality to sell or spin out into new companies.   Next, we shifted over to the merger and acquisition transactions in the precious metals and critical minerals space, noting some of the unique M&A news of late, and outlining why the overall volume of deal flow is less than many expected considering the need to replace minded reserves, and the compelling value propositions of the development projects.   Nick outlines that this lack of takeovers of quality projects, while developers remain undervalued at current metals prices gives investors a unique opportunity to capitalize on these market inefficiencies.  He revisits prior comments made about Kutcho Copper Corp. (TSXV: KC) (OTCQX: KCCFF) , and how since then the stock has gone up over a 100% after restating their economics in light of the underlying metals environment.   Wrapping up we shift over to the strong fundamental factors for nuclear power and compelling supply/demand imbalances for more uranium.  He discusses the permitting milestone achieved with Denison Mines Corp. (TSX: DML) (NYSE American: DNN), the imminent spin-out of Verdera Energy from enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), and that North Shore Uranium Ltd. (TSX-V:NSU) and Skyharbour Resources Ltd. (TSX.V: SYH) (OTCQX: SYHBF) are 2 earlier-stage uranium explorers he’s been adding to in his portfolio.   Click here to follow Nick’s analysis and publications over at Digest Publishing     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 update, we sit down with Joaquín Marías, President and CEO of Argenta Silver Corp. (TSX.V:AGAG | OTCQB:AGAGF | FRA:T1K), to discuss the significant acceleration of exploration activities at the El Quevar Project in Salta Province, Argentina. Joaquín provides a deep dive into the company’s upsized 25,000-meter drill program, the technical milestones ahead for 2026, and the recent discovery of a new gold-copper system. Key Discussion Points: Expanded 25,000m Drill Program: Originally planned at 15,000 meters, the program has been significantly upsized to 25,000 meters through April 2026, with a total goal of 45,000 meters by the end of 2026. New Exploration Frontiers: The company has more than doubled its exploration area from 25 square kilometers to 60 square kilometers, incorporating extensive geophysics, surface work, and environmental baseline studies. Gold-Copper Discovery at Carmen: Results from the January 21st release highlighted a significant new discovery 400–500 meters from the main resource, featuring 44 meters of gold and copper mineralization, suggesting a distinct and rich mineral system. Path to Economics: Argenta is initiating advanced metallurgical test work and technical studies to build upon the existing 50-million-ounce pure silver resource, moving the project closer to a formal Mineral Resource Update and Preliminary Economic Assessment (PEA). Strong Financial Position: Following a successful $23 million bought deal financing in January, Argenta is fully funded with over $40 million CAD to execute its aggressive 2026 exploration and development mandates.   Please send me any follow up questions you have for Joaquin. My email address is  Fleck@kereport.com. Click here to visit the Argenta website to learn more about the company   ----------------------- 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, and all financial assets involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this daily editorial, we are joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc provides a comprehensive analysis of a whirlwind week in the financial markets, headlined by a landmark legal shift in U.S. trade policy and a surprising cooling of the American economy. Key Discussion Points: Supreme Court Ruling on Tariffs: Analysis of the 6-3 vote overturning President Trump’s use of emergency powers for reciprocal and fentanyl-related tariffs. Fiscal and Inflationary Impact: How the potential $170 billion in tariff refunds creates credit-negative pressure on U.S. interest rates and downward pressure on consumer prices. Q4 GDP Miss: Examining the 1.4% growth rate, well below the 3% forecast, and how the government shutdown distorted final sales and inventory data. Federal Reserve Outlook: Navigating the "fragmented" FOMC minutes and the market's pricing of 55 basis points in cuts by late 2026. Currency and Dollar Strength: Why the U.S. Dollar remains resilient in a "prolonged correction" despite weak economic data and geopolitical noise.   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.  

In this episode, we are joined by Ralph Shearing, CEO of Goldgroup Mining (TSX.V: GGA | OTC:GGAZF), for an in-depth discussion on the transformative business combination with Gold Resource Corp (NYSE-A: GORO). This merger is set to reposition the company as a diversified, multi-asset gold and silver producer with a significant footprint across Mexico and a high-potential development project in the United States. Key Discussion Points: Strategic Merger Overview: Ralph explains how joining forces with Gold Resource Corp transforms both entities from single-asset risk profiles into a diversified, multi-mine producer with sights set on mid-tier status. Production and Asset Roadmap: A deep dive into the 2026 production targets, including the restart of the San Francisco Mine and the expansion of the Don David Mine in Oaxaca. The Back Forty Project: An update on the advanced-stage VMS deposit in Michigan, detailing the 4-5 year timeline to production following upcoming feasibility studies and permitting. Leadership and Strategy: Insight into the new executive team and the group’s aggressive strategy for further M&A in Mexico.   Please email any questions you have for the team at Goldgroup - Fleck@kereport.com & Shad@kereport.com.  Click here to visit the Goldgroup Mining website - https://goldgroupmining.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.

Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQX: MGMNF), joins me for an update on the TSX uplisting process, to review the updated mineral reserves and 2026 production guidance at their producing McCreedy West copper mine, located in Sudbury, Ontario, Canada.  We also review the continued high-grade drill results across copper, nickel, platinum, palladium, gold, and silver in more recent assays returned from the ongoing exploration and development work at the Levack Mine.   McCreedy West Mineral Reserve Highlights   Probable Mineral Reserves of 987,000 tonnes at 1.59% Cu, 0.32% Ni, 0.01% Co, 1.15 g/t Pt, 1.23 g/t Pd, 0.32 g/t Au, 6.65 g/t Ag. Indicated Mineral Resources* of 5,632,000 tonnes at 1.10% Cu, 0.98% Ni, 0.03% Co, 0.82 g/t Pt, 0.92 g/t Pd, 0.23 g/t Au, 5.15 g/t Ag. Inferred Mineral Resources* of 874,000 tonnes at 1.37% Cu, 1.00% Ni, 0.02% Co, 1.26 g/t Pt, 1.24 g/t Pd, 0.26 g/t Au, 4.12 g/t Ag.     McCreedy West Production Guidance Highlights   Copper Equivalent (“CuEq”) payable production guidance of 16.0 million – 18.0 million pounds (“lbs”) CuEq from the 700 Copper Zone at McCreedy West Mine in 2026. All-In Sustaining Costs (AISC), excluding stream payments2 for 2026 are guided at US$4.20/lb CuEq – US$4.70/lb CuEq. Levack R2 Zone new assay results include:   FNX6083-W5 – Intercepted 20.3% Cu, 0.1% Ni, 10.3 g/t Pt+Pd+Au, 151.0 g/t Ag over 0.7 metres, from 1,129.4 metres down hole; And 18.8% Cu, 0.2% Ni, 11.0 g/t Pt+Pd+Au, 115.0 g/t Ag over 1.4 metres, from 1,151.6 metres down hole; And 4% Cu, 0.9% Ni, 5.4 g/t Pt+Pd+Au, 173.0 g/t Ag over 1.0 metre, from 1,157.0 metres down hole   FNX6070-W1 – Intercepted 5.7% Cu, 0.1% Ni, 28.3 g/t Pt+Pd+Au, 33.3 g/t Ag over 1.1 metres, from 1,098.6 metres down hole   Preliminary Economic Assessment (“PEA”) underway at Levack Mine in parallel with work to re-establish ore and waste hoisting capabilities during 2026, and underground development to support ongoing exploration of the R2 Footwall Zone.   Pre-Feasibility Study (“PFS”) underway at Crean Hill Mine while engineering work continues in order to facilitate dewatering of the underground workings which could commence in the second quarter of 2026.     If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording, and may choose to buy or sell shares at any time.    Click here to follow along with the news at Magna Mining   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.