Sign up to save your podcasts
Or
Share The KE Report
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
The KE Report episodes
- Arizona Gold & Silver - Best Drill Hole to Date at Philadelphia Project
In this KE Report company update, we sit down with Mike Stark, President & CEO of Arizona Gold & Silver (TSX-V: AZS - OTCQB: AZASF) to discuss the company’s strongest drill results yet from the Philadelphia Project in Arizona.
Released on September 17th, the latest hole returned 9.05 g/t gold and 34 g/t silver over 20 meters from 320 meters downhole - the highest-grade and thickest mineralization intercepted on the project to date.
Key discussion points include:
- Geological significance of the new intercept and the Perry Vein system.
- How deeper drilling is confirming the Red Hill area as a potential heat source.
- Current step-out drilling (holes 157–159) and expanded permitting to expand exploration area by 200 acres and 16 new drill pads.
- Funding position with ~$2M recently raised, supporting drilling through 2026.
- Exploration upside, including the underexplored southern strike extension and broader property package (only 3% of 3,300 acres tested).
- Longer-term plans for new targets, including potential greenfield drilling and work at the Sycamore Canyon Project.
Click here to visit the Arizona Gold & Silver website.
For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/Shad’s resource market commentary: https://excelsiorprosperity.substack.com/Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.14 min - Geological significance of the new intercept and the Perry Vein system.
- Joel Elconin - Pre-Market: Market Melt Up Continues While Rate Cuts Are Moved Forward
In today’s pre-market daily editorial, we’re joined by Joel Elconin, co-host of the PreMarket Prep Show. Click the link in the show notes to listen to Joel and his team for daily market conversations, as well as a link to the Stock Trader Network.
This week’s discussion centers around the Fed’s latest rate cut and updated dot plot, projecting two more cuts this year and one in 2026. Despite shifting policy, markets continue to grind higher toward all-time highs.
Joel shares his perspective on:
- The Fed’s decision and why markets keep shrugging off “bad” news.
- The historical trend: markets rising after Fed cuts near highs.
- Whether today’s rally is still concentrated in big tech or broadening across small caps, biotechs, gold, silver, and other sectors.
- Key catalysts ahead: quad witching, Jewish holiday rotation, jobs and inflation data.
- Why hedging remains limited even with volatility upticks.
- A closer look at Intel (INTC) following U.S. government backing and Nvidia’s $5B stake.
Joel also outlines his simple but disciplined approach to market levels, why he’s not placing resistance targets, and what could derail this momentum heading into Q4.
Stocks discussed:
- Intel (INTC)
- Nvidia (NVDA)
- Broader small-cap (IWM), biotech, and precious metals trends
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.16 min - The Fed’s decision and why markets keep shrugging off “bad” news.
- Luca Mining - Review Of Q2 Operations and Financials, Further Debt Repayment, Ongoing Met Work, and Exploration Update
Dan Barnholden, CEO of Luca Mining (TSX.V:LUCA – OTCQX:LUCMF – FSE:TSGA), joins us to review their Q2 operations and key financial metrics, the further debt repayment, ongoing metallurgical work, 4 separate exploration programs, and provides insights on key upcoming catalysts across both of Luca’s producing assets – the Tahuehueto and Campo Morado mines, located in the prolific Sierra Madre mineralized belt in Mexico.
Second Quarter Highlights
- Gold equivalent production totaled 17,861 ounces in Q2 2025, up 28% compared to Q2 2024, and 39,154 ounces in H1 2025, supported by continued ramp-up at Tahuehueto, strong base metals output, and strong plant availability at Campo Morado.
- Tahuehueto advanced operationally, maintaining over 90% plant utilization in the quarter while increasing tonnes milled by 104% year over year to 72,396, underscoring continued ramp-up progress and plant reliability.
- Throughput momentum continued as well in the quarter, with a 65% increase in consolidated tonnes milled to 253,717; Campo Morado milled 181,320 tonnes (+54%), an average of 2,133 tonnes per day, while Tahuehueto more than doubled output, averaging 905 tonnes per day in the quarter, compared to the same period in the prior year.
- Gold production reached 6,622 ounces, up 55% from Q2 2024, supported by stable recoveries at Tahuehueto and steady plant operations despite lower mined grades.
- Campo Morado set a new benchmark with 98.7% grinding availability, its highest of the year, and delivered 11,106 gold-equivalent ounces—supported by stronger zinc and copper grades.
- Tahuehueto contributed 6,755 gold-equivalent ounces, a 44% increase year over year, and silver production rose 108% to 71,441 ounces, highlighting rising output from higher-grade zones.
- Zinc, copper, and lead production rose 74%, 66%, and 49%, respectively, on a consolidated basis, benefiting from improved head grades, higher throughput, and processing efficiency across both sites.
- Consolidated revenues more than doubled year-over-year to US$36.78 million driven by higher production volumes and improved realized prices across most metals, and delivered record revenue of US$75.4 million for the first half of the year..
- Cash provided by operating activities totaled $12.61 million in Q2 2025, a substantial increase from $739,000 in Q2 2024, primarily driven by a 102% increase in revenues supported by higher gold-equivalent production (+28%) and improved realized prices. Strong throughput growth at both operations, particularly a 104% increase in tonnes milled at Tahuehueto and 98.7% grinding availability at Campo Morado, contributed to enhanced cash generation.
- Adjusted net earnings totaled $3.26 million in Q2 2025, a step in the right direction from a near break-even result in Q2 2024. The turnaround reflects improved operational profitability, stronger metal sales, and disciplined cost management, offsetting non-cash and non-recurring items that impacted the reported net loss.
- Positive adjusted EBITDA of US$5.8 million in Q2 2025 (Q2 2024 – positive adjusted EBITDA of $4,166), with US$18.2 million generated in the first half of the year; supported by increased sales across gold, zinc, and copper, as well as improved operating margins.
- For the year ahead, the Company anticipates producing between 85,000 and 100,000 gold equivalent ounces with payable ounces ranging between 65,000 and 80,000. The Company expects to generate between US$30 million and US$40 million in free cash flow before working capital adjustments for the year, reflecting the strength of its core mining operations.
Dan goes on to highlight both the underground drilling and surface drilling going on at Campo Morado and Tahuehueto, with essentially 4 exploration programs, and the first meaningful drilling in over a decade. In addition to targeting new high-grade gold and silver areas, there is a concerted effort to expand mineralization and extend the mine life for both projects. The company is also engaged in ongoing metallurgical testing to improve recovery rates for their 5 metals, and 3 concentrates.
If you have any question for Dan regarding Luca Mining, then please email those into us at [email protected] or [email protected].
- In full disclosure Shad is a shareholder of Luca Mining 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 Luca 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/
16 min - Jeff Christian - Gold and Silver Outlook: Correction Or Higher Prices?
In this daily editorial, we welcome back Jeff Christian, Managing Partner at CPM Group, for his monthly update on the precious metals sector. With gold and silver recently breaking out to multi-year highs, Jeff provides valuable context on the market drivers, technical considerations, and the broader macroeconomic environment.
Discussion Highlights:
- Gold outlook: After breaking above $3,700, Jeff shares why near-term pullbacks are possible but believes the upside potential toward $3,800-$4,000 remains strong into late 2024 and early 2025.
- Pullbacks vs. peaks: How a 10-20% correction could unfold, and why robust investor demand likely supports prices well above prior record levels.
- Interest rates & gold: Why the traditional “higher rates = bad for gold” narrative doesn’t hold up under data.
- Equities & gold: How gold can act as a diversifier, even while equity markets remain elevated.
- Silver outlook: Support above $40, with potential to reach $44-$48 in Q4 and possibly $50 in 2025 as investor selling abates and new buyers enter the market.
- Longer-term view: Gold and silver prices could extend gains into 2026-27, with risks and uncertainty continuing to drive investment flows.
Click here to visit the CPM Group website to learn more about the firm.
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.23 min - Gold outlook: After breaking above $3,700, Jeff shares why near-term pullbacks are possible but believes the upside potential toward $3,800-$4,000 remains strong into late 2024 and early 2025.
- Rua Gold - Emerging Gold Exploration Company With 2 District Scale Projects In New Zealand
Rob Eckford, CEO of Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC), joins me to introduce the value proposition and current work programs at their 2 district-scale gold exploration projects in New Zealand.
Rob starts off by highlighting that their team, that has developed, constructed, and run mines in Burkina Faso and Colombia, but then decided to focus on New Zealand a handful of years ago; eventually leading to the company going from private to publicly listed in 2024. They’ve consolidated the land over 2 large land packages prospective for high-grade gold on both the North Island and South Island.
The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t. The exploration team currently has 3 drills turning across the project, and anticipates an update to the Resource Estimate by year end.
The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, Wharekirauponga; north of their Waihi gold mine. After obtaining a permit later this year, drilling will commence across the Glamorgan Project.
Rob shares his background and the pedigree and experience of the management team and board of directors, and wraps us up with the capital share structure, key strategic investors, and financial strength of the Company to execute on its next initiatives.
If you have any questions for Rob regarding Rua Gold, then please email them into me at [email protected].
Click here to follow the latest news from Rua Gold
24 min - TriStar Gold - Advancing the 2.5Moz Castelo de Sonhos Project in Brazil: Permitting Update
In this KE Report company update, I speak with Nick Appleyard, President & CEO of Tristar Gold (TSX-V: TSG - OTCQB: TSGZF). We revisit TriStar’s flagship Castelo de Sonhos (CDS) gold project in Brazil, which hosts a 2.5 million-ounce resource (1.8Moz Indicated + 0.7Moz Inferred) and a completed Pre-Feasibility Study.
Nick provides an update on:
- Permitting progress: The status of the environmental license, the recent civil public action, and strong support from the State of Pará.
- Next steps: Advancing toward the construction permit within 12 months, positioning CDS as a shovel-ready project.
- Economics: Updated project economics at higher gold prices.
- Valuation disconnect: Why market cap lags asset value and how resolving the permitting challenge could unlock $100M+ in shareholder value.
- Strategic options: Financing outlook, potential partnerships, and how TriStar is managing cash reserves (~US$5M) to advance the project.
Click here to visit the TriStar Gold website to learn more about the Company and Project.
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.11 min - Permitting progress: The status of the environmental license, the recent civil public action, and strong support from the State of Pará.
- Dave Erfle - Beaver Creek Recap: Juniors in a Bull Market & M&A Momentum
In this Pre-Market Daily Editorial, we welcome back Dave Erfle, Founder and Editor of Junior Miner Junky. Fresh off the Beaver Creek Precious Metals Summit, Dave shares his key takeaways from over 20 company meetings and his perspective on the sector’s strong bullish momentum.
Discussion highlights:
- Why sentiment has shifted with juniors now in a full-blown bull market.
- The growing importance of U.S. big board listings (NYSE/AMEX/NASDAQ) for attracting both retail and institutional investors.
- Signs of an imminent correction after six straight weeks of gains in GDX/GDXJ - and how Dave is preparing to deploy cash.
- Ongoing M&A activity, from mega-mergers (Teck + Anglo American) to billion-dollar private deals, and what this means for mid-tiers and developers.
- Where Dave still sees potential 3–10x upside opportunities - and the risks tied to chasing them.
Dave also weighs in on investor sentiment, whispers from behind-the-scenes meetings, and the long-term outlook for gold miners relative to rising gold price floors.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
-----------
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.19 min - Why sentiment has shifted with juniors now in a full-blown bull market.
- Erik Wetterling – Key Takeaways From The PM Summit In Beaver Creek, and Reaction To The Merger Of First Nordic Metals With Mawson Finland
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review his key takeaways from the Precious Metals Summit in Beaver Creek, and the best opportunities he sees presenting themselves in the resource sector. Additionally, we get to hear Erik’s reaction to the news that broke this Monday reporting on the merger of First Nordic Metals with Mawson Finland, to produce a larger Scandinavian exploration and development vehicle.
Coming into the PM Summit in Beaver Creek, gold, silver, and the precious metals stocks were continuing to make new highs, giving a much improved sentiment to the conference as the bull market raged on. We also got into the nuances of how one may need to adjust company valuations in a dynamic way based on how their newsflow compliments or is at odds with the underlying macro conditions and gold and silver price action.
Erik points out that many of the PM producers and developers, that looked grossly undervalued a year ago and seemed to be ignoring the surging metals prices, are now finally up multiple-fold. Even the optionality “beta” plays, with sunk costs and banked success via ounces in the ground, have continued to rerate higher at this point; making them less attractive from his vantage point. In contrast, many of the exploration stocks have only started to move recently, and some explorers or early-stage discovery stocks haven’t even moved that much in contrast to the rest of the sector. Erik remains more encouraged by these “alpha” plays, that have clear catalysts on the horizons from their ongoing work programs.
We then shifted over to the news that broke early this week on September 15th, announcing the merger of First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQX: FNMCF) (FSE: HEG0) and Mawson Finland Limited ("Mawson") (TSXV: MFL) (FSE: PM6). Erik unpacks the synergies that he sees in this transaction between the 2 companies, the value proposition of their combined projects, management teams, and board of directors, and how this may provide a better cost of capital, more liquidity, and the ability to negotiate with Agnico Eagle from more of a position of strength.
This transaction will consolidate a large and prospective gold development and exploration portfolio in Sweden and Finland, including First Nordic's Barsele Joint Venture Project and Gold Line Belt projects in northern Sweden and Oijärvi Project in northern Finland, and Mawson's Rajapalot Project and surrounding Rompas-Rajapalot Property in northern Finland.
- In full disclosure, both Erik and Shad are shareholders of First Nordic Metals.
Click here to follow Erik’s analysis over at The Hedgeless Horseman website
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 - District Metals - UAV Survey Results, Expanding Uranium Projects in Sweden, Moratorium and Stock Volatility Update
In this KE Report company update, we welcome back Garrett Ainsworth, President & CEO of District Metals (TSX-V: DMX - OTCQB: DMXCF - NASDAQ First North: DMXSE-SDB).
We cover:
- Recent UAV (drone) survey results at the Sågtjärn and Nianfors projects in Sweden, and how the data led to expanded land positions.
- Background on these projects, which host historical uranium resources, high-grade uranium boulders, and rare earth element potential.
- Exploration strategy across District’s five uranium projects, including the flagship Viken Project, one of the world’s largest undeveloped uranium deposits.
- The latest developments on Sweden’s uranium mining moratorium, the timeline for a potential repeal, and how this impacts District’s plans.
- Recent share price volatility following government announcements and investor sentiment shifts.
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.
----------------
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.15 min - Recent UAV (drone) survey results at the Sågtjärn and Nianfors projects in Sweden, and how the data led to expanded land positions.
- Jim Tassoni - Momentum Trading: Riding the Melt-Up Market & Metals, How To Not Get Stuck When Markets Turn
In this Daily Editorial, we are joined by Jim Tassoni, CEO of Armor Wealth Strategies, for his monthly trader’s perspective. Jim is a momentum trader, and in today’s conversation he shares how he’s navigating what feels like a “buy anything” market where both risk-on and risk-off assets are moving higher.
We cover:
- Momentum in equity markets - the S&P and NASDAQ hitting new all-time highs, and how Jim manages positions with tactical trims and adds.
- Trading around news events - using volatility from Fed decisions, inflation, and jobs data to adjust exposure without breaking trend.
- Sector opportunities - broadening exposure with ETFs like QQQ, RSP, and XLF; increasing interest in healthcare as a potential catch-up sector.
- Commodity momentum - strong moves in gold, silver, platinum, and steel via ETFs (GLD, SLV, GDX, PLTM, SLX), and how Jim manages entries and trims.
- Precious metals outlook - GDX breaking above its 2011 peak, silver pushing toward $50, and why Jim prefers to let momentum dictate exits rather than trying to call a top.
- Market psychology - parallels to the late-1990s “buy anything” market, and why discipline and exit levels matter in case of a downturn.
Stock & ETF Symbols Mentioned: SPY, QQQ, RSP, XLF, GDX, GLD, SLV, PLTM, SLX, UFO
Click here to visit the Armor Wealth Strategies website to keep up to date with Jim and what he’s trading.
------------
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.22 min - Momentum in equity markets - the S&P and NASDAQ hitting new all-time highs, and how Jim manages positions with tactical trims and adds.
About The KE Report
From the publisher's feed
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…
to help investors navigate the markets.
More shows like The KE Report
Macro Voices
3,057 Listeners
Sprott Money News
146 Listeners
Mining Stock Education
143 Listeners
Mining Stock Daily
98 Listeners
The Market Huddle
356 Listeners
Palisades Gold Radio
259 Listeners
Value Hive Podcast
90 Listeners
ITM Trading Podcast
72 Listeners
Wealthion - Be Financially Resilient
368 Listeners
The Jay Martin Show
70 Listeners
Thoughtful Money with Adam Taggart
412 Listeners
The Julia La Roche Show
83 Listeners
The David Lin Report
49 Listeners
Commodity Culture
23 Listeners
Monetary Matters with Jack Farley
151 Listeners