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The KE Report episodes
- Goldgroup Mining - Merger With Gold Resource Corporation: Project Overview, Multiple Producing Mines & Development Assets
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 - [email protected] & [email protected].
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.17 min - Magna Mining – TSX Uplisting Process, 2026 Production Guidance and Mineral Reserves At McCreedy West, High-Grade Results At Levack’s R2 Zone
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 [email protected].
- 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.
27 min - Sierra Madre Gold and Silver – Equipment Purchases at La Guitarra Accelerate Production Expansion, Exploration Strategy Across All Projects
Alex Langer, President and CEO of Sierra Madre Gold And Silver (TSXV: SM) (OTCQX: SMDRF), joins me to provide an equipment purchase and installation update on the progress of the planned two-stage expansion at its La Guitarra silver-gold mine complex. We also get a brief operations update on the 3 producing mines: La Guitarra, Coloso, and Nazareno mines in Mexico.
Beyond the production growth, we also focus on the substantial exploration programs planned for the 2nd half of this year, both at the La Guitarra complex and at the property coming into the company from the ongoing acquisition of the Del Toro Silver Mine in the Chalchihuites District in Mexico from First Majestic Silver Corp.
The first stage of the expansion at the La Guitarra plant will increase production rates from the current 500 tonnes per day ("tpd") to 750 tpd to 800 tpd of processing capacity; with a goal to get that completed by June or July of this summer. Processing plant and tailings handling upgrades and equipment purchases for the planned production expansion are underway. Once the first stage of the expansion is completed, the planned second phase would increase processing capacity to a range of 1,200 tpd to 1,500 tpd by Q3 2027.
- The current crushing circuit consists of a primary jaw crusher, a two-tier vibrating screen plant and a 3-foot short head cone crusher. The installation of a new 3-foot standard head crusher is expected to expand crushing capacity to 750 tpd to 800 tpd.
- Options are now being evaluated for the construction of a second crushed ore storage bin for additional backup storage capacity.
- Earthworks for the foundations of the 750 tpd to 800 tpd thickener are nearly complete. This thickener will allow a portion of the tailings to be deposited as paste fill in old stopes, thus extending the life of the existing tailings impoundment. It will also allow for the construction of a filter circuit to produce dry stackable tailings.
- A used 11x12.5 ball mill has been purchased and is in the process of being refurbished. The mill's capacity is a nominal 600 tpd at a -3/8 inch feed size and, when used in combination with one of the two existing +200 tpd mills, is expected to expand processing capacity to the 750 tpd to 800 tpd objective.
- The Company has acquired two new scoop trams, one used scoop and is in the process of rebuilding two existing scoops. These purchases and rebuilds will allow the Company to dedicate one 3-cubic metre scoop to the newly reopened Nazareno mine and allow for production improvements in both the Guitarra and Coloso mines.
- The Company has purchased four haulage trucks and a second front end loader.
The balance of the discussion is on the exploration campaign for the second half of this year across both the La Guitarra property and Del Toro property. Alex points out that having their own assay lab should allow the company to quickly react to incoming assays at La Guitarra, going from 20 holes, to 40 holes, and then eventually 80 holes. At Del Toro, the envisioned plan is to drill about 30,000 meters, which is an even larger program than at La Guitarra.
When pressed about what metals price environment the company would need to see to turn on the mines at Del Toro quicker, in tandem with the exploration, Alex mentioned that as was the case with La Guitarra, First Majestic has done an exceptional job in keeping permits current and maintaining the mine and plant in an operations-ready state. As a result, if a decision was made, after the acquisition is completed in late April, then it is possible that a mine restart could begin in around a year’s time.
If you have any questions for Alex regarding Sierra Madre Gold and Silver, then please email them to me at either [email protected].
- In full disclosure, Shad is a shareholder of Sierra Madre Gold and Silver and may choose to buy or sell shares at any time.
Click here to follow along with the latest news from Sierra Madre Gold & Silver
For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
21 min - Kingsmen Resources – 15,000 Meter Drill Program This Year At Las Coloradas and Almoloya Projects
Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) joins me for a visual overview of the company exploration initiatives at their 2 silver and gold projects, Las Coloradas and Almoloya, located in the Parral District, in Chihuahua, Mexico.
>> To view the VIDEO version of this interview click below:
https://youtu.be/GFGX6VW7thIWe start off with Scott sharing some of the background on how this company came together over the last few years, where he consolidated 15 mining concessions around the prior-producing Las Coloradas Mine to form their flagship Las Coloradas Project, and ensure that their land package has district-scale size potential. After a few years of work consolidating the land, sampling and mapping, and reviewing historical data from Asarco, the Company drilled its maiden 3,000-meter reconnaissance drill program in 2025; with 12 holes that encountered broad intercepts and contained pockets of high-grade silver and gold mineralization for follow-up drilling. There are also a few compelling regional targets that will be drilled this year.
The company has raised capital to go after a 15,000 meter follow-up program at both their Las Coloradas Project and initial drilling at the Almoloya Gold/Silver Project.
Las Coloradas High Grade Silver Project
- Step-out and deeper drilling planned on the high-grade Soledad and Soledad II vein systems
- Approximately 700 metres of the Soledad structure remains to be tested
- Significant discovery potential in the largely undrilled (1 hole) 1.7 km Soledad II structure
- New priority drill targets emerging at Saddle and Silvia/La Plata zones
- Multiple large-scale, largely untested targets highlight district-scale discovery potential at Las Coloradas
Almoloya Gold/Silver Project
- Initial diamond drilling planned on the gold-rich Juliettas structures
- District-scale CRD and oxide potential identified at Cigarrero Mine área
- Both projects located in prolific mining districts with geological similarities to major silver-gold deposits in Mexico
Wrapping up Scott highlights the financial health of the company, the closing of the upsized bought deal financing in January, continued support from key stakeholders, the pattern of raising money at higher and higher valuations, the ability of in-the-money warrants to potentially bring in more funds. We also discuss the value in the 1% royalty on GoGold’s Los Ricos North, which if purchased back would bring in more non-dilutive capital. Scott reiterated that the future value creation will be determined with the drill bit, and the Company is cashed up well to execute on this exploration program, and will remain drilling for the balance of this year.
If you have any questions for Scott regarding Kingsmen Resources, then please email those to me at [email protected].
Click here to follow the latest news from Kingsmen 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.
32 min - EMP Metals - Scaling Lithium Production with the New Continuous Demonstration Plant
In this company update, I welcome back Paul Schubach, Chief Operating Officer of EMP Metals (CSE: EMPS - OTCQB: EMPPF), for an in-depth update on the company’s advancements in the lithium space. Operating primarily out of the high-grade Viewfield property in Saskatchewan, EMP Metals is transitioning from pilot testing to a continuous demonstration plant.
Key Discussion Points:
- The Viewfield Advantage: Paul discusses the high-concentration nature of the Viewfield resource, highlighting well tests that have reached upwards of 259 mg/L of lithium, making it a premier focus for first commercial production.
- Continuous Demo Plant Logistics: A breakdown of the $10 million USD investment into the demo facility, which is designed to run for 12 months to gather live operating data and refine engineering documents.
- Strategic Partnership with Saltworks: Insight into how EMP Metals is leveraging Saltworks’ industrial-scale technology to prove the remaining pieces of the lithium carbonate production flowsheet.
- Scalability and Economics: The transition from a 7-tonne annual demo output to a projected commercial facility producing between 1,500 and 3,000 tonnes per year, alongside the timing for updated economic reports (PFS/DFS) later in 2026.
- Portfolio Expansion: A look at the Mansur project as a secondary "hub and spoke" opportunity and the potential for future resource delineation and acquisitions.
If you have any follow up questions for Paul and the team at EMP Metals please email me at [email protected]
Click here to visit the EMP Metals website to learn more about the Company and assets.
--------------------
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.12 min - Joel Elconin - Why Value and Energy are Winning the 2026 Market
In this daily editorial, we are joined by Joel Elconin, co-host of the PreMarket Prep Show and founder of the Stock Trader Network. As the market navigates a complex period of tech underperformance and shifting investor sentiment, Joel breaks down why the "Magnificent Seven" are losing steam and where the smart money is rotating to start 2026.
Key Discussion Points:
- The Great Rotation Beneath the Surface: While major indices remain near their highs, a significant internal shift is occurring as investors move away from mega-cap tech and into value-oriented sectors that prioritize cash flow and tangible goods.
- The AI Spending Pivot: Massive capital expenditures by tech giants are no longer being rewarded by the market; instead, investors are looking for "picks and shovels" plays in hardware and infrastructure.
- Energy and Utility Resurgence: The power requirements for AI data centers are driving a new wave of interest in energy producers and traditional utilities, providing a strong floor for these sectors.
- A New Trend in Crude Oil: After years of pressure, crude oil and energy ETFs are showing technical signs of a major turn, supported by both value-seeking investors and rising industrial demand.
- Earnings Season Challenges: The "high bar" set for tech companies is leading to sell-offs even on earnings beats, as guidance fails to justify lofty valuations compared to more stable retail and staple stocks.
Click here to visit Joel’s PreMarket Prep website - https://www.premarketprep.com/
Click here to visit the Stock Trader Network - https://www.stocktradernetwork.com/
Summary of Stocks & Symbols Mentioned: S&P 500 (SPX), Microsoft (MSFT), Google (GOOGL), Amazon (AMZN), Meta (META), Walmart (WMT), Micron (MU), SanDisk, Service Now (NOW), Salesforce (CRM), Constellation Energy (CEG), John Deere (DE), Caterpillar (CAT), Exxon Mobil (XOM), Chevron (CVX), Energy Select Sector SPDR Fund (XLE), United States Oil Fund (USO), Lemonade (LMND).
---------------------
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.16 min - Labrador Gold - JV With Nemo Resources To Explore The Watson Project, Northwest Ontario
In this special video company update, I am joined by Roger Moss, President and CEO of Labrador Gold (TSX.V:LAB - OTCQX:NKOSF - FSE:2N6), and Ryan Weston, Vice President of Exploration. The team provides a deep dive into their recent strategic joint venture with Nemo Resources, focusing on the newly formed private entity, Elementary Minerals, and its flagship Watson Project in Northwestern Ontario.
Key Discussion Points:- The Strategic Joint Venture: Roger Moss explains the formation of Elementary Minerals and the partnership with Nemo Resources. Labrador Gold holds an 80% interest in this new venture, combining technical expertise to explore the highly prospective Fort Hope Greenstone Belt.
- The Watson Project Opportunity: Ryan Weston outlines the geological significance of the project, located in the Uchi Domain—the same belt that hosts the legendary Red Lake and Pickle Lake camps. The project covers 127,000 hectares with no underlying royalties.
- Overcoming Geographical Hurdles: The team discusses why this area has remained under-explored. Despite the success of neighboring belts, the Watson Project has been hidden by cover, but new geophysical tools and techniques developed in the Ring of Fire are now being applied to unlock its potential.
- Exploration Roadmap for 2026/2027: The company is fast-tracking work with a significant airborne EM survey planned for this winter, followed by soil sampling in the summer. The goal is to define high-priority drill targets for a maiden drilling program by early 2027.
- Infrastructure and the Ring of Fire Road: A major catalyst for the project is the proposed Ring of Fire supply road, which is slated to pass directly through the property. This development is expected to significantly lower future exploration and operational costs.
Please email me with any questions for Roger or Ian. My email address is [email protected].
Click here to visit the Labrador Gold website to learn more about the Company - https://labradorgold.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.21 min - Metalla Royalty & Streaming - Record 2025 Revenues & 2026 Growth Pipeline
In this episode of the KE Report, we sit down with Brett Heath, President and CEO of Metalla Royalty & Streaming (NYSE American: MTA | TSX-V: MTA), to discuss the company's financial performance and its growth roadmap for the coming years. Following the announcement of record annual revenues in 2026, a nearly 100% increase over the previous year, Brett provides a deep dive into the assets driving this growth and what investors can expect as the portfolio continues to mature.
Key Discussion Points:
- Record Financial Results: Brett breaks down the nearly $12 million in revenue generated in 2025, explaining how a combination of higher metal prices and increased production from core assets like Tocantinzinho and Endeavor doubled the company's top line.
- The 2026 Production Outlook: A look ahead at the guidance scheduled for release on March 26, including the anticipated impact of two new mines, Amalgamated Kirkland and La Parrilla, slated to reach production later this year.
- The Royalty Margin Advantage: An exploration of why royalty companies are uniquely positioned to outperform mining equities in 2026. Brett explains how Metalla captures the full benefit of expanded reserves and increased production without exposure to the rising inflationary costs facing traditional operators.
- Portfolio Catalysts and Asset Expansion: Updates on major organic growth milestones, including the 65% reserve increase at the Wharf mine and significant development progress at large-scale copper projects like Copper World and Taca Taca.
- Strategic Growth and M&A: Insights into the current acquisition landscape, the use of Metalla’s $75 million credit facility, and the potential for corporate-level transactions to further scale the business.
Please email me with any other questions you have for Brett - [email protected].
Click here to visit the Metalla Royalty & Streaming website to learn more about the Company and portfolio of royalty and stream assets.
---------------
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.
21 min - Guanajuato Silver – Top 50 Awards On The TSX Venture and OTCQX Exchanges, Comprehensive Exploration Update On The 75,000 Meter Drill Program
James Anderson, Chairman & CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me to celebrate the recognition of their team receiving awards for both the Top 50 TSX Venture and OTCQX stock exchanges for their Company performance last year. We then spend the balance of the discussion outlining the key initiatives for their ongoing 75,000 meter drill program at each mine area, for a comprehensive exploration update across their portfolio of projects.
Guanajuato Silver produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, the San Ignacio mine, and their recently closed transformational acquisition of the Bolanitos Gold-Silver Mine from Endeavour Silver. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. In addition to these 5 producing mines, the Company also has 3 past-producing exploration and development projects in their portfolio at the El Horcon Mine, Pinguico Mine, and Cebada Mine.
This 75,000 meter drill program will see the exploration work on most of these projects, and we circled around to the key initiatives at each mine. Currently the drills have been turning at Topia, El Cubo, and El Horcon; with many assays at the lab to be released in the months to come.
On February 5th, the Company announced a new Mineral Resource Estimate for the Company's 100% owned Valenciana Mines Complex, where the updated inferred mineral resources increased by 630% to 20.3M AgEq Ounces ~(2.27 Mt @ 142.2 g/t Ag and 1.55 g/t Au, containing10.4 Moz Ag and 113 Koz Au). James outlined that this resource update reflects the strength and continuity of the underlying Veta Madre mineral system at Valenciana, and reinforces their confidence in the long-term viability and expanded potential of the project.
If you have any follow up questions for James on Guanajuato Silver, then please email them into me at [email protected].
- In full disclosure, Shad is a shareholder of Guanajuato Silver at the time of this recording, and may choose to buy or sell shares at any time.
Click here to follow the latest news from Guanajuato Silver
For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
20 min - 1911 Gold – True North Project PEA Metrics, Near-Mine and Regional Exploration Targets, Key Upcoming Milestones
Shaun Heinrichs, President and CEO of 1911 Gold Corp (TSXV: AUMB) (OTCQX: AUMBF), joins me to for a comprehensive visual exploration and development update for advancing their True North Project, which includes a permitted mine and mill complex located on the Company’s 100%-owned Rice Lake Gold property, spanning 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, Canada.
Shaun outlines how 1911 Gold believes its land package is a prime exploration opportunity, on a brownfield site, with the potential to develop a mining district centered on expanding resources and eventually moving back into the development of the past-producing True North complex. In addition to the permitted mine, there is a 1300 tpd permitted mill in place, which is expandable to 2250 tpd, which would have access to cheap hydroelectric power, and there is a permitted tailings area.
We unpack the key metrics from the Preliminary Economic Assessment (PEA), released to market on February 10th. Shaun also highlights that this PEA doesn’t include any of their drilling for the last 2 years, or the drilling they are doing this year, and is modeled off only a portion of the prior 2018 resource estimate. Towards the end of this year the Company will be releasing an updated Resource Estimate incorporating the last few years of drilling, and then an updated PEA incorporating that larger resource model.
The initial PEA released this month outlines a robust gold mining operation utilizing the fully built and permitted infrastructure, including shafts, underground workings, and the processing and tailings management facility. 1911 Gold has estimated the infrastructure replacement value as being in excess of $400 million. The plan targets steady-state production of 58,114 ounces per annum with a mine life of 11 years.
PEA Highlights:
- Robust Economics (After-tax): At a long-term gold price of US$3,000 per ounce (“oz”) there is a Net present value (“NPV”) (5%) of $391 million, internal rate of return (“IRR”) of 105%, and a payback period of 2.2 years
- At a constant gold price of US$4,800/oz, the NPV(5%) grows to $998 million, with no calculated IRR due to no years with a negative cash flow, and an almost immediate payback period of under 1.0 year.
- Fully Permitted, Low Capital Project: Initial capital expenditures (“Capex”) of $59.2 million, utilizing the currently built and permitted payable infrastructure. Additional Capex of $46.7 million during the first 2 years of ramp-up.
- Processing: Average diluted mill head grade of 4.32 grams per tonne gold (“g/t”, “Au”) with gold recoveries of 93.5% over the LOM.
- Cash Costs and AISC: Producing gold at a cash cost of US$1,390/oz and all in sustaining cost (“AISC”) of US$1,897/oz.
- Near-Term Production: Production due to start in the first half of 2027 with test mining and a bulk sample planned for the second half of 2026.
- Production Growth: 1911 Gold has identified excellent potential to increase production by developing recently discovered zones such as San Antonio Southeast, San Antonio West, and Shore which are adjacent to existing infrastructure and not included in the study, in addition to regional targets.
This led us into the ongoing aggressive exploration program underway at surface for shallow high-grade targets as well as at depth, at their 2 new discoveries: the San Antonio West and San Antonio Southeast. The ongoing drilling is expanding the known resources of around 1.1 million ounces of gold in all categories.
With regards to regional targets, there was a 2,200-metre (“m”) diamond drill program completed in December at the Ogama-Rockland gold deposit, located approximately 27 kilometres (“km”) southeast of the True North Gold Project. One surface drill rig was mobilized and commenced drilling on December 12, 2025, and focused on resource expansion and confirmation drilling, with a separate resource update due out from this area later this year.
If you have any questions for Shaun regarding 1911 Gold Corp, then please email them into me at [email protected].
- In full disclosure, Shad is a shareholder of 1911 Gold 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 1911 Gold Corp
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.
35 min
About The KE Report
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The KE Report provides exclusive interviews with fund managers, newsletter writers, technical and fundamental analysts along with sub $10 billion market cap stocks. Interviews are published daily…
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