The KE Report

By KE ReportBusiness Investing

The KE Report episodes

January 14District Metals - 2026 Uranium Advancement Plans After Sweden’s Moratorium Lift: Drilling, PEA, EIS
In this company update, Garrett Ainsworth, President and CEO of District Metals (TSX-V: DMX | OTCQX: DMXCF), outlines the company's aggressive 2026 exploration and development plans in Sweden.
Following the official lifting of the uranium exploration and mining moratorium on January 1, 2026, District Metals has transitioned from a "soft start" to full-scale advancement of its world-class portfolio. The company is now focused on the rapid de-risking of its flagship Viken Project and systematic testing of high-priority targets across its extensive Alum Shale and basement-hosted uranium properties.
Key Discussion Points:
Viken Project Advancement: The flagship project has commenced a Preliminary Economic Assessment (PEA) targeted for completion in Q2 2026. This study is being led by P&E Mining Consultants and Mets Engineering Group to leverage their specialized expertise in Alum Shale metallurgy.
Economic Impact Study: The company has retained BDO Canada to quantify regional tax revenues and job creation potential. This is a strategic move to secure the "social license" required for long-term project development.
2026 Drilling Campaign: A 5,000 to 7,000-meter program is planned, beginning in the northern woodlands and moving south toward Viken. The campaign will test 24 MobileMT conductive anomalies identified during 2025 geophysical surveys.
District-Scale Strategy: Controlling nearly 150,000 hectares of Alum Shale properties, District plans to move directly into grid drilling if initial "scout" holes confirm thick mineralization, aiming to rapidly define new resources.
Financial Position: The company enters the year with approximately C$9 million in cash and a 2026 work budget of C$5 to $6 million, remaining well-funded through potential warrant and option exercises.

If you have any follow up questions for Garrett please email me at [email protected].
Click here to visit the District Metals website to learn more about the Company - https://www.districtmetals.com/
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For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned
17 min
January 14Erik Wetterling – Record High Gold And Silver Prices Are Making The New Junior Producers And Advanced Developers Shine
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the opportunities he sees in some of the new smaller PM producers ramping up growing revenues at time of record margins and extremely high underlying metals prices. Additionally, he is seeing compelling value in some of the gold and silver developers expediting their process through the 2nd leg of the Lassonde Curve, on the pathway to construction and production in the next couple years.

We review the continued strange dichotomy between surging precious metals prices and the lagging reactions in many junior gold and silver stocks over the last couple years. Then we look ahead to why we may see more capital start rotating down into the PM junior stocks that are actively pursuing revenue growth as this year unfolds.

We start off discussing just how much more profitable even the small producers are today compared to what the mid-tier producers with much larger production profiles could have achieved in cashflows 6-8 years back.
This current environment has taken what would be considered small tier 3 projects and mines and now turned them into cash cows for companies. By generating substantial revenues, instead of purely diluting through market financings, these junior companies can then fund further growth and development of their other projects.
Erik points to new producers ramping up production like Talisker Resources, Blue Lagoon, and Kuya Silver as companies that are garnering attention on relatively small production profiles, because of just how profitable spot PM prices are for generating new revenues.
We highlighted some of the junior resource companies that we’ve reviewed in prior discussions that blazed this similar path over the last couple of years like Integra Resources, Heliostar Metals, Discovery Silver, and Magna Mining. These companies have been solid case studies of this business pivot, through transforming their business models by going from developers to junior producers, and then they were positively rewarded by the marketplace.

With regards to the junior developers, he sees opportunities in the companies that are expediting their move through the 2nd leg of the Lassonde Curve.
He mentions Amex Exploration, which is working towards trial mining a large bulk sample over the next year, to then fund going into toll-mining process for the first 4-5 years; before eventually building a larger plant and operations on site in a multi-phased mining approach. This is a way to self-fund at least a big part of their future growth through much lower initial capex moves into production.
Scottie Resources is also taking a very similar approach and already has completed their bulk sample at the end of last year, bringing in non-dilutive capital and learning a lot through that real world trial mining process to apply to future economic studies and the move towards Direct Ship Ore production.

* In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.

Click here to visit Erik’s site – The Hedgeless Horseman

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.
17 min
January 13Snowline Gold - 2026 Outlook: Development, Drilling & District Scale Potential
In this KE Report company update, we’re joined by Scott Berdahl, CEO & Director of Snowline Gold (TSX:SGD - OTCQB:SNWGF), to discuss the company’s transition from an exploration success story to a rapidly advancing development-stage company as it looks ahead to 2026.
Key Topics Discussed:
2025 recap and milestones - 30,000 meters drilled, PEA completion, awards, leadership growth, and a 240% share price increase

Pre-Feasibility Study progress - engineering, environmental, metallurgical, and technical work feeding into the PFS

Permitting strategy in the Yukon - advancing project description and early-stage permitting activities

Upcoming drill results - ~14,000 meters still pending from Valley and multiple regional targets

Exploration upside beyond Valley - Gracie, Aurelius, Jupiter, and other reduced intrusion-related gold targets in the Tombstone Gold Belt.

Capital strength and budget outlook - $105 million treasury supporting development and exploration through 2026

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

Click here to visit the Snowline Gold website to read over the recent news and learn more about the Company - https://snowlinegold.com/

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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.
12 min
January 12TG Watkins - Trading the Trump Trend and Parabolic Precious Metals
In this daily editorial, TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot, analyzes the explosive start to 2026. As political headlines from the Trump administration drive massive sector rotations, TG discusses how his technical process identifies institutional "footprints" beneath the noise.

From the sudden reversal in homebuilders to the vertical moves in silver and gold, we explore how to manage risk in parabolic markets. TG also provides a preview of his "State of the Markets" presentation (happening tomorrow, January 13th), where he will dive deeper into the recovery of small caps, the potential bottoming in cannabis and crypto, and the technical indicators signaling a shift away from Mega-Cap Tech.

Key discussion points:
Bullish Small Caps & Broad Market Rotation: TG highlights a healthy shift away from mega-cap tech into small caps (IWM), mid-caps (MDY), and equal-weight indexes (RSP). This is fueled by a "sweet spot" of low unemployment and an increasingly dovish Fed.
Homebuilder Resilience: Despite restrictive housing policy headlines, homebuilders (XHB/NAIL) showed strong institutional "footprints" and technical reversals, signaling that the lower interest rate environment is the primary driver for the sector.
Precious Metals Velocity: Silver has entered a parabolic phase, skyrocketing from $50 to over $80 in a month. TG cautions that while the trend is intact on the hourly 50 SMA, the vertical move lacks technical support levels, increasing the risk of a sharp reversal.
Crypto & Cannabis Bottoming: TG sees "percolating" strength and a double-bottom pattern forming in Bitcoin and Ethereum, alongside renewed interest in the cannabis sector following recent reclassifications.

Click here to visit TG’s site - Profit Pilot - https://www.profit-pilot.com/

Click here to visit TG’s X profile to learn more about his State Of The Markets presentation tomorrow!

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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.
22 min
January 12Aztec Minerals - 2025 Drilling Success, Resource Potential & 2026 Growth Plans
In this KE Report company update, Simon Dyakowski, President & CEO of Aztec Minerals (TSX.V:AZT | OTCQB:AZZTF), joins me to recap a standout 2025 and outline what’s shaping up to be a very active 2026. The discussion centers on continued drilling success at the Tombstone Project in Arizona, early-stage upside at Cervantes in Mexico, and the path toward a potential maiden resource.
Key discussion points include:
Strong 2025 Drill Results at Tombstone - Record gold and silver intercepts, validation of the geological model, and expansion of drilling beyond the main pit area.
Ongoing & Expanded 2026 Drilling - Multiple rigs active, more than 20 holes pending assays, and steady near-term news flow expected.
Maiden Resource Potential - Management discusses timing for an initial resource estimate as a starting point for long-term growth.
Gold vs. Silver Zonation - Gold-rich zones to the north and increasingly silver-dominant mineralization to the south and west.
CRD Upside & Deep Drilling - High-risk, high-reward deep drilling targeting potential CRD-style mineralization beneath the main zone.
Cervantes Project in Mexico - Follow-up on recent fieldwork and optionality for future drilling at the gold-copper porphyry project.
Financial Strength - Nearly $9 million in cash supports aggressive exploration plans across both core assets.

Please email me any questions you have for Simon. My email address is [email protected].

Click here to visit the Aztec Minerals website - https://aztecminerals.com/

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For more market commentary & interview summaries, subscribe to our Substacks:
https://kereport.substack.com/
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.
15 min
January 10Weekend Show - Peter Boockvar & Brien Lundin - Geopolitics to Metals Mania: Venezuela, Critical Minerals, and the New Commodity Playbook
This Weekend Show connects the week’s biggest geopolitical catalyst - U.S. military action tied to Venezuela’s oil - and what it could mean for commodities and markets in 2026. Peter Boockvar lays out a contrarian oil thesis built on depressed prices, positioning, and shale maturity, while Brien Lundin explains why silver’s surge looks structurally different this time - driven by physical tightness and industrial buyers forced to compete with investors, all against a backdrop of critical-minerals policy momentum.
Segment 1 & 2 - Peter Boockvar, Chief Investment Officer at Bleakley Financial Group and editor of The Boock Report, who weighs in on geopolitics, arguing the U.S. action in Venezuela doesn’t change his bullish long-term outlook for oil, and discusses why depressed energy, agriculture, and select commodities could play catch-up amid tightening supply, shifting sentiment, critical minerals policy, evolving AI investment dynamics, and the growing importance of long-term interest rates in 2026.
Click here to follow Peter at The Boock Report - https://peterboockvar.substack.com/
Segment 3 & 4 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, to discuss the historic surge and volatility in silver driven by physical supply constraints and investment demand, plus his outlook on gold, copper, lithium and uranium as the broader commodity bull market gains momentum. We discuss the equities for each commodity sector as well.
Click here to learn more about the Gold Newsletter. - https://goldnewsletter.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. 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 may own shares in companies mentioned.
51 min
January 09 Banyan Gold - Drill Results: Continuing To Define The High Grade Areas At The Powerline & Airstrip Deposits
In this company update, I’m joined by Tara Christie, President & CEO of Banyan Gold (TSX.V:BYN - OTCQB:BYAGF), to break down the latest drill results from the Powerline and Airstrip deposits at the AurMac Project in Yukon.
Tara walks us through why these eight newly reported drill holes are technically significant, how they validate Banyan’s evolving geological model, and what they reveal about ongoing high-grade continuity, expansion targets, and future resource growth.

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

Click here to visit the Banyan Gold website - https://banyangold.com/

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For more market commentary & interview summaries, subscribe to our Substacks:
https://kereport.substack.com/
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.
9 min
January 09Sean Brodrick – 2026 Portfolio Strategies In Silver, Gold, Copper, Uranium, Oil, Antimony, and Next Generation Defense Stocks In Drones, Rockets, and Robots
Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins me to look at the continuation of a number of investing megatrends that did well in 2025 and are on track to keep outperforming in 2026. We discuss strategies for portfolio management and some of his portfolio trades in gold, silver, copper, uranium, oil, antimony, and nexgen defense stocks in drones, rockets, robots, AI, and quantum computing.

We start off noting the strong end to last year technically with regards to where gold and silver closed up 2025, and how they started off this year with even higher levels, but more volatility in both directions and have pulled back some here in the mid-week.
In the larger silver stocks Sean got repositioned a couple of months back in both Pan American Silver and Hecla Mining in 2 of his respective publications and portfolios.
He discusses some of the reasons why investors have not been pushing the silver stocks to higher valuations, that would be more in line with their increasing margins, revenues, or project economics. Sean believes that many investors are waiting for a more substantial pullback in the silver price to buy that dip and get positioned into future silver sector weakness.
We review the significance of this coming earnings season, for both silver and gold stocks, and how the record revenues will become too hard for generalist investors to ignore.
Sean makes the case for both gold and silver running much higher in the year to come, but does believe that we likely need a short or medium-term consolidation first, before building the energy to bring in the next wave of investing capital to push the sector into the next breakout move higher.
We talk about the strength of the physical markets over the paper markets, and how this is underpinning the higher prices and creating more traction at overbought levels than many short-term traders were expecting.

From there we broaden out the discussion to the whole commodity complex, which Sean believes will stay in momentum overall, and that these higher metals prices have the attention of manufacturers and fabricators that need a consistent supply of silver, or copper, or nickel, or other critical minerals.
It is possible that we may see some manufacturers and industry conglomerates come down and actually acquire silver or copper mines while they remain at such attractive valuations relative to the underlying metals prices, just to guarantee supply to their businesses.
He points to the strength in copper and copper stocks recently and he is very constructive on the longer-term fundamentals for this commodity

Next, we get into the resurgence of nuclear power and strength in the uranium stocks over the last month coming into the new year, and why he remains bullish for the medium to longer term that this sector has much further to rerate higher.
He underscores the big triple digit gains that he and his subscribers realized in Energy Fuels (NYSE: UUUU) this year. His interest is getting piqued in this sector once again, because after the large corrective move that the uranium stocks went through at the end of last year, they are now starting to demonstrate relative strength again over the last couple weeks.

Sean believes this commodities super-cycle will even begin to drag the lagging traditional energy sector and oil and gas stocks higher later in the year. We then contrast that potential for higher prices with some of the weakness seen in parts of the energy complex, after the recent geopolitical uncertainties developing after the US moved in on Venezuela, removing President Maduro over this last weekend, and seizing a few ships full of oil and desiring to get more US companies extracting that heavy oil.

The discussion on geopolitical developments then shifter over to the big budget spending allocated to building and acquiring next generation defense in the US and Europe and around the globe.
Sean highlighted Skywater Technology (NASDAQ: SKYT), as a recent winning position for he and his subscribers, in a fairly short amount of time, due to the increased focus on the defense sector.
He also flagged the integration of AI and quantum computing into both defense and the civilian sectors for drones and robotics to spur a “robot revolution” in 2026 and moving forward.
We also point out that if governments and manufacturers want to build out all this next generation defense in drones, hypersonic rockets, rockets into space, and focus on the future potential through robotics, then it is going to take substantially higher amounts of many commodities including copper, silver, nickel, antimony, geranium, and select rare earths.

Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends
.
Click here to learn more about Resource Trader

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

The KE Report: https://kereport.substack.com/
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
26 min
January 08Joel Elconin – Key Investing Themes In US Equity Markets For 2026
Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network joins me to outline the key investing themes in US equity markets for 2026. We discuss the upcoming macroeconomic data that matters, and circle around to a number of market sectors, getting his outlook on whether we’ll see a continuation or a reversal in the prevailing trends.

Key discussion points include:
2025 Market Recap & Broadening Participation – A look at index performance, the shift away from mega-cap dominance, and a broadening out in other sectors from biotech to small caps in the Russell 2000.
Macroeconomic Data On Tap – Joel points to jobs data coming out this Friday, inflation data next week, the upcoming supreme court decision regarding tariffs, and in just a few weeks the kick off of Q4 earnings season.
Dovish Fed Policy Is Anticipated In Mid-2026 - Joel notes that so far the TLT longer-duration treasuries are not reacting, but typically monetary policy only really affects the short-duration rates. Lower rates should help small caps and be a boon to the financial sector.
A Technical Outlook on the S&P 500 and Nasdaq Indexes – Joel shares the technical levels he is watching on a shorter-term basis for support and resistance; but notes that with markets still up in uncharted waters, that there are no easily identifiable resistance levels.
Government Defense Budget and New Guidelines Created Volatility In The Defense Stocks – Joel highlights how all the new restrictions from the government with regards to management and company incentives sent defense stock reeling lower, but the announcement of $1.5 Trillion in a military spending package sent them right back higher again.
Rotation Trade Into Low P/E and Value Stocks Is The Big Theme at present – There is capital that has rotated out of the Mag 7 leadership and into a broader range of value stocks like Berkshire Hathaway, auto manufacturers like Ford and GM, home builders, healthcare stocks, and consumer staples. Geopolitics are also playing a factor of investors seeking safer brands and investing names.

Click here to visit Joel’s PreMarket Prep website

Click here to visit the Stock Trader Network

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.
18 min
January 08 Nick Hodge – A Stew Of Different Factors Fueling The Ongoing Commodities Supercycle In Silver, Gold, Uranium, Copper, and Lithium
Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Underground Alpha, joins me for our monthly longer-format discussion on the stew of different macroeconomic factors, continuing to fuel the commodities supercycle in silver, gold, uranium, copper, lithium, and opportunities in their related resource stocks.

We start off discussing record closing prices at the end of last year on the monthly, quarterly, and annual charts for silver, gold, platinum, copper, and overall strength in many other industrial and critical minerals.

It has been challenging for investors to keep track of all the different new developments when one considers the inclusion of even more metals on the official critical minerals list, the Chinese export controls on silver that started in January in addition to all the export controls on other commodities, the recent US intervention in Venezuela for access to heavy crude oil, the upcoming appointment of the new Fed chair that will be more dovish, the upcoming supreme court decision around the legality of tariffs, the arbitrage in many metals between the physical price and paper price on various exchanges, and all of the ongoing macroeconomic factors on inflation, debt, GDP growth, and fiscal policies that were already in place before all these new factors arose.

With regards to the precious metals, Nick states that we are clearly in the middle of a solid bull market, where investors should adopt a “buy the dip” mentality, similar to what we’ve seen for well over a decade in the general us equities in the S&P 500 or Nasdaq. We review the how the valuations of PM producers and developers have not kept up with surging metals prices, and how they are undervalued on many metrics. We discuss the slow adoption and participation from generalists and institutions into the gold and silver stocks, but that it is gradually starting to happen, and should further accelerate after we see Q4 earnings season reported, starting in a few weeks. He underscores the large pools of money still sitting in other sectors or on the sidelines that have the potential to rotate into this sector as valuation metrics become to compelling to ignore. Nick states that if 2024 was the year for gold, and 2025 was the year for silver, then 2026 will be the year for precious metals stocks.

Next, we shifted over to the growing investing theme around energy coming into this year and how that plays into the need for more commodities like uranium, oil, natural gas, copper, and lithium. We really cover a lot of ground here in this portion of discussion, spending a good deal of time laying out the fundamental investing thesis for nuclear power and supply/demand imbalances for more uranium. We then expand the conversation into some of the drivers that have pushed copper to all-time highs again over the last few weeks, and some of the Cu companies on Nick’s radar. Wrapping up we get into why he has been highlighting lithium and Li stocks over the last few months as a key contrarian commodity play tying into the growth in energy storage, and why he believes that trend will continue for the balance of this year.

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.
41 min

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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…