The KE Report

In this KE Report Daily Editorial (Friday, January 16), we’re joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market website. Marc breaks down the biggest macro drivers shaping markets early in 2026 - spanning U.S. policy uncertainty, central bank crosscurrents, global capital flows, and energy geopolitics.

Key discussion points include:

Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/

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In this KE Report company update, we welcome back Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX-V: GMG | OTCQX: GMGMF), to address a wide range of listener-submitted questions following the company’s EPA approval for THERMAL-XR®.

Craig provides clear updates on GMG’s battery development progress, including ongoing optimization work, fast-charging performance, and realistic energy density expectations as the technology moves toward larger-scale cells and eventual commercial testing.

The conversation also dives into Super G graphene testing with battery industry participants, the final steps toward shipping THERMAL-XR® into the U.S., and the massive market opportunities across air conditioning, data centers, and industrial cooling.

Craig closes with an overview of GMG’s key priorities for 2026, including scaling production, expanding into North America, and converting technical validation into meaningful commercial sales.

Please keep the questions coming! Email me at [email protected].

Click here to visit the GMG website to learn more about the Company. 

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James Anderson, Chairman & CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me to highlight their recently closed transformational acquisition of the Bolanitos Gold-Silver Mine from Endeavour Silver, and how this augments the current production profile of the company, as well as synergies with processing and improving efficiencies.

Bolanitos is the Company's fifth producing precious metals mine in Mexico. Located adjacent to Guanajuato Silver's San Ignacio mine, the 1,600 tonnes per day Bolanitos flotation plant is currently under-utilized and has significant capacity for increased throughput and production. Bolanitos is a gold mine and silver mine which will further enhance the Company's position as a growing precious metals producer in Mexico. In total, the Company will operate three primary silver mines (Topia, Valenciana, and El Cubo) and two primary gold mines (Bolanitos and San Ignacio).

Guanajuato Silver has acquired Bolanitos for total consideration of up to US$50 million (the "Transaction"), consisting of (i) upfront consideration of US$40 million which was paid on closing and was comprised of US$30 million in cash and US$10 million of Guanajuato Silver common at a deemed price of US$0.2709413 (Cdn$0.3815) per share. and (ii) contingent consideration of US$10 million ((ii) In addition to the Upfront Consideration, Guanajuato Silver will make two contingent payments to Endeavour, each being US$5 million, upon achieving production of two million ounces of silver-equivalent and four million ounces of silver-equivalent, respectively. Each Contingent Payment will be satisfied 50% in cash and 50% in Guanajuato Shares.

We discussed how the incorporation of the San Ignacio Mine into the Bolanitos Mines Complex is expected to rapidly generate improved economics and expanded mine life. Mineralized material mined at San Ignacio will now be transported to the nearby 1,600 tonnes per day Bolanitos flotation plant; as Bolanitos and San Ignacio are contiguous to one another, this is expected to dramatically reduce transportation costs and increase utilization at the Bolanitos mill. This has allowed the Company to put the Cata processing plant on care and maintenance, with the goal to have over 85% utilization at the Bolanitos and El Cubo plants in 2026.

Another aspect of this deal also includes the acquisition of the historic Cebada mine, which is located contiguous and to the north of the Company’s Valenciana Mines Complex (VMC). The Company intends to reactivate Cebada, which is currently on care and maintenance, as an important exploration and development project. This led to us highlighting the other historically producing mines in the portfolio like Pinguico and El Horco, that will have an exploration and development work on tap in 2026, focusing on the future growth of the Company.  The plan is for 44,000 meters of exploration drilling to be completed across all projects this year.

If you have any follow up questions for James on Guanajuato Silver, then please email them into me at [email protected].

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.

In this Company Update, Alain Lambert, CEO of Prismo Metals (CSE: PRIZ | OTCQB: PMOMF | FSE: 7KU), discusses the transition into the drilling phase at the Silver King project and the increase in ownership of the company’s copper asset, Hot Breccia.

Prismo Metals is entering 2026 with high-grade exploration success and improved project control. Following a flurry of activity in late 2025, the company has confirmed high-priority targets at Silver King through sample assay and Induced Polarization (IP) results. Simultaneously, Prismo has cleared the path for systematic development at Hot Breccia by upping its ownership to 95%.

Click here to visit the Prismo Metals website 

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Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us for a comprehensive review of all the 2026 catalysts on tap at the La Plata Copper-Silver-PGM Project in Colorado, along with the Keno Silver Project and their portfolio of gold alluvial royalty claims in the Yukon.

We start off taking a deeper dive into the value proposition of coming updated Resource Estimate due out in Q1 this year at their flagship La Plata Copper-Silver Project, near Durango, Colorado. Scott outlines that around 4,500 additional meters drilled have not yet been added into the existing 1.21-billion-pound copper and 17.6-million-ounce silver inferred mineral resource, and that the upcoming resource update will also add in resource values from gold, platinum, and palladium for the first time; which have not previously been included. 

We also reviewed the growing interest in other critical minerals on the project like tellurium, vanadium, scandium, gallium, lanthanum, and yttrium and if this may entice more interest from the US government in providing support for fast-tracking the development of this project.

The Company is in the planning phase at this point to determine this year’s exploration plan for both expanding known mineralization, and also testing a few more of the 10-15 other potential porphyry target across their land package.   This district-scale exploration would be of interest to their strategic partners at Newmont Corporation, that has maintained their 9.5% strategic equity investment in Metallic Minerals due to their interest in the prospectivity for both copper and precious metals at the La Plata Project.

Next we shifted over to the Keno Silver project, where more drilling was completed last year, and there are plans to gear up more drilling again in this 2026 exploration season. Scott also highlights how the big rise in silver prices may actually expand mineralized inventory at this Project, which hosts a defined 18.16 million ounces of silver equivalent (inferred), over 4 deposits (Formo, Fox, Caribou and Homestake). The board is currently evaluating the exploration program for Keno Silver in the 2026 season.

Wrapping up, we discussed the gold and silver royalty portfolio across their alluvial mining claims in the Yukon Territory, Canada. Now in its third consecutive year of gold production, Metallic Minerals expects record royalty revenues in 2025 from its Australia Creek and nearby Dominion Creek properties. Both areas lie within the heart of the historic Klondike Goldfields, which have produced more than 20 million ounces of gold since the legendary 1898 gold rush.

The Company also holds substantial alluvial claims in the Keno Hill silver district, overlapping its high-grade Keno Silver Project, where over 16,000 ounces of alluvial gold were produced from 2015 to 2021. Exploration programs launched in September at both Australia Creek and South Keno included drilling and geophysical surveys to define new zones of recoverable native gold and silver and to advance future royalty-based production and add in new operating partners this year from these large-scale alluvial systems.

If you have any follow up questions for Scott on Metallic Minerals, then please email us at [email protected]  or [email protected].

Click here to follow the latest news from Metallic 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 KE Report daily editorial, we’re joined by Dana Lyons, fund manager and editor of the Lyons Share Pro, for a wide-ranging discussion on how to trade extreme momentum while managing risk in today’s broad-based bull market.

With silver up over 30% in just the first weeks of the year and nearly doubling in price since late November, Dana breaks down how technical traders assess parabolic moves - and why having a disciplined, objective system is essential when emotions run high.

The conversation expands well beyond precious metals, covering leadership shifts across equity markets, sector rotation, international strength, and why some popular trades may be losing momentum.

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

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

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, Stephen Soock, VP of Investor Relations and Development at Heliostar Metals (TSX-V: HSTR | OTCQX: HSTXF), details the company's 2026 Production guidance and its path to 500,000 ounces of gold production by 2030.

Interview Highlights:

Please email me at [email protected] 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/

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Investment disclaimer:

In this KE Report company update, we’re joined by Luke Alexander, President & CEO of Newcore Gold, to discuss recent high-grade drill results and what’s ahead in 2026.

The conversation highlights the deepest drilling completed to date at the Enchi Gold Project in Ghana, including standout high-grade gold intercepts that support the company’s geological model and underground expansion potential.

With a 1.71 million ounce gold resource (indicated + inferred), Newcore Gold is moving forward with continued drilling (45,000 meters underway), an upcoming Pre-Feasibility Study (PFS), and a resource update - while keeping a clear focus on advancing the project toward production.

If you have any follow up questions for Luke please email me at [email protected].

Click here to visit the Newcore Gold website. 

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

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.

Bob Archer, President and CEO of Pinnacle Silver & Gold (TSX-V:PINN) (OTC: PSGCF), joins me to unpack the upcoming initial Phase 1 drill program, along with the big picture development roadmap towards near-term production in 2 years at the Company’s El Potrero Gold-Silver Project in Durango, Mexico.

The El Potrero Project contains a low-sulphidation epithermal gold-silver system that has been traced for more than 1,600 metres along strike and 500 metres in width in the northern part of the property. Pinnacle’s geological team has been conducting extensive and systematic surface and underground mapping and sampling comprising 1,196 samples in 2025.

Pinnacle recently conducted an airborne LiDAR survey across the entire 11 km2 property, from which 64 adits, 6 shafts and 51 prospecting pits were interpreted by a leading consultant in this field.  While many of these lie along the Dos de Mayo vein structure in the northern 10% of the property, confirming the trend, most of the remainder lie on the other 90% that has yet to be explored. 

This Phase 1 program will be a number of shorter 20-25meter holes piercing the walls and ceilings at approximately 6 priority targets initially, with many more targets identified.   There will also be surface drilling incorporated in tandem, once the underground drilling is well underway.   The Phase 1 exploration will focus on 2 of the 3 historic mining areas: the Dos de Mayo and Pinos Cuates initially.  In future phases of exploration the company will also explore the third historic mining area around La Dura.

Bob also outlines the vision to rapidly move from exploration, to development, with a goal to first production in about 2 years.  There are distinct advantages to having a brownfields site with underground development already in place and an existing processing plant on site, that is estimated to be capable of processing about 100 tonnes per day utilising crushing, milling, vat leach and Merrill Crowe circuits.  The plant will need new equipment, but Pinnacle has cleaned up the plant site and surrounding infrastructure and conducted a preliminary assessment of the cost to rebuild the plant and install a dry-stack tailings facility. 

The company has undergone initial metallurgical testing with three samples taken from underground at the historic Pinos Cuates mine, the central of the three main mines on the Dos de Mayo structure, and sent to SGS Durango for preliminary test work. Given that these were preliminary tests, there was no optimization, yet the results from leach tests indicated gold recoveries ranging from 92.81% to 96.79% and averaging 95.09%.  Silver recoveries were lower and more variable, due to more complex mineralogy, and ranged from 41.41% to 73.53%, averaging 54.68%.  Mineralogical studies and further optimization will be required to obtain consistently higher silver recoveries.

The Company is currently closing a C$2.52M financing to cover both the underground and surface programs through 2026.  Down the road, Pinnacle also envisions an off-take agreement that will help bring in non-dilutive capital to fund the initial capex for plant refurbishment, underground development work, extending the powerline to grid access, and for working capital.

Click here to follow the latest news from Pinnacle Gold and 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.

In this KER Market QuickTake, the first market discussion of 2026, we dive into the explosive moves across precious metals - particularly silver’s historic surge above $90 - while questioning why mining equities continue to lag far behind the metals themselves.

Despite gold reaching new all-time highs and silver delivering one of its strongest breakouts in decades, investor enthusiasm toward precious metal stocks remains surprisingly muted. Cory and Shad break down the disconnect, explore sector rotation into industrial and energy metals, and explain what could finally ignite the next leg higher for miners.

Let us know your thoughts on the KER Market QuickTakes - [email protected] and [email protected] 

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

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.