The KE Report

By KE ReportBusiness Investing

The KE Report episodes

August 20, 2025Inflection Resources - Exploration Partnership Update with AngloGold Ashanti: Trangie Drill Results
We’re joined by Alistair Waddell, President & CEO of Inflection Resources (CSE:AUCU - OTCQB: AUCUF), to discuss the latest drill results from the Trangie Project in New South Wales, Australia. This project is one of four being advanced under Inflection’s exploration agreement with AngloGold Ashanti, alongside the Duck Creek, Crooked Creek, and Nyngan projects.
Key discussion points include:
Recent drill intercepts at Trangie confirming porphyry-style gold mineralization and the systematic follow-up program.
The staged earn-in structure with AngloGold Ashanti, including funding commitments and technical collaboration.
Ongoing drill programs at Crooked Creek and Nyngan, plus upcoming work across satellite targets.
The acquisition of a copper-gold project portfolio from Newmont in the Northern Territory and New South Wales, and how these assets fit into Inflection’s strategy.
The benefits of being partner-funded, including exploration budgets, technical expertise, and reduced shareholder dilution.

If you have any follow up questions for Alistair please email us at [email protected] and [email protected].
Click here to visit the Inflection Resources website to learn more about the Company.
17 min
August 20, 2025Homeland Uranium - Uranium/Vanadium Exploration In Colorado: 2 Projects, Drilling Next Month, Historic Near-Surface Resource
In this company update, I introduce Homeland Uranium (TSX.V:HLU - OTCQB:HLUCF - FSE:D3U), a newly listed U.S.-focused uranium–vanadium explorer. President & CEO Roger Lemaitre (uranium executive with past roles at Cameco and UEX) walks us through the company’s portfolio, strategy, and near-term catalysts.
Key Discussion Points:
Colorado Plateau Projects - 100%-owned Coyote Basin (flagship) and Red Wash properties in Colorado.
Historic Resource & Potential - Past work by Western Mining (1970s) outlined significant mineralization; Homeland’s summer fieldwork confirmed 14 km of uranium strike potential.
Upcoming Drill Program - Fully funded, 50–70 holes planned starting in September, targeting near-surface, open-pittable uranium with vanadium credits.
Growth Strategy - $12M cash in the treasury, well-structured share base, and strong backers including Sprott and Rick Rule.
Team Expertise - Veteran uranium team with a track record of discoveries, development, and M&A success.
For follow-up questions, contact Cory at [email protected]

Click here to visit the Homeland Uranium website to learn more about the Company.
21 min
August 20, 2025 Stillwater Critical Minerals – A Visual Geologic And Exploration Update At Stillwater West – Management Roundtable
In this exclusive video roundtable with management, we have 4 officers of Stillwater Critical Minerals (TSX.V: PGE – OTCQB: PGEZF), review the evolving geological understanding, key exploration initiatives, and value proposition at the Stillwater West Ni-PGE-Cu-Co + Au project in Montana. Michael Rowley, President & CEO, Dr. Danie Grobler, Vice President of Exploration, Albie Brits, Senior Geologist, and Justin Modroo, Project Geophysicist, all provide different layers of input to this roundtable discussion.

Mike outlines that their Stillwater West Project is a very large polymetallic resource with a substantial copper inventory and the largest nickel project in an active U.S. mining district, in addition to palladium, platinum, rhodium, chromium, cobalt, and gold; plus as yet unquantified amounts of ruthenium and iridium. Overall, Stillwater West is uniquely positioned to become a primary source of nine commodities now listed as critical, given their location immediately adjacent to Sibanye-Stillwater’s operating mine complex in Montana.

Albie shares an overview of the structural controls of the geological environment that hosts the mineralization, and why their exploration initiatives will have high-confidence through this understanding of the parameters and character of the mineralized trend. This understanding ties into the approach taken to exploring and understanding it as a Bushveld analog, and how their five “Platreef-style” (or contact-type) Ni-Cu-Co-PGE+Au deposits may tie together in a larger sense.

Danie then gets into the different data sets being utilized for the testing of multiple large-scale magmatic sulphide targets generated from a property-wide MobileMTm magneto-telluric (“MMT”) geophysical survey that were completed in late 2024. Data from the 2024 MMT survey was processed and incorporated into the Company’s 3D geological model of the lower Stillwater Igneous Complex to prioritize targets with a focus on expanding current mid-grade and high-grade mineral resources. He also shares how there are several mineralized events in the sulphides bringing in pockets of higher-grade polymetallic zones within the overall bulk tonnage type of deposit.

Justin highlights the deeper holes (over 2,000 feet deep) being drilled at the both Iron Mountain and Chrome Mountain in this year’s program, and how the exploration team will be utilizing downhole borehole EM to look for the footwall basal sulphide mineralization and look for off-hole anomalies that may become future targets for follow-up drilling.

1,500 meters and 4 holed have been drilled thus far in this year’s program, where there are thousand of meters of drilling planned focused on those higher-grade targets. After drill is completed, there will be an update to the resources that will include both 2023’s drilling and 2025’s drilling. Then this updated resource will be combined with other #development studies to move towards a Preliminary Economic Assessment in 2026.

If you have any questions for the team at Stillwater Critical Minerals, then please email them into me at [email protected].

Click here to follow the latest news from Stillwater Critical Minerals
28 min
August 19, 2025West Red Lake Gold Mines – Operational and Exploration Update At The Madsen Mine, Along With A Review Of The Rowan Project PEA
Gwen Preston, VP of Communication at West Red Lake Gold Mines (TSX.V:WRLG – OTCQB:WRLGF), joins us for a wide-ranging discussion on various operational and exploration updates around their 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada. We also review the key metrics and takeaways from the Rowan Project Preliminary Economic Assessment (PEA).

In July 2025, three gold pours were made at Madsen, producing a total of 3,800 ounces of gold. Of that, 3,595 ounces were sold at an average price of US$3,320 per oz, which generated CND $16.4 million in revenue. In July the Madsen mine operations team completed sill development and mining in eight (8) areas spread across McVeigh, South Austin, and Austin. Mined material carried an average grade of 8.9 grams per tonne gold.

Gwen outlines that the Company currently has a dual focus during the Madsen Mine ramp-up for the balance of 2025.
Achieving targeted ramp-up gold ounce production.
Instituting new operational efficiencies.

These objectives will be reached by continuing to adding new equipment and haul trucks, developing more underground access to high-priority mining areas and stopes, and getting the first phase of Madsen Shaft rehabilitation operational. Additionally, their operations team is working to get the Cemented Rock Fill (CRF) Project in place to convert waste rock into cement to be filled into historic underground voids, which are ideal repositories for this waste rock. Once those objects have been achieved, then the Company will feel confident in declaring commercial production; with an internal target to reach this by year-end.

Next, we discussed the exploration strategy moving forward for expanding high-confidence ounces in the South Austin Zone of Madsen, which have seen some bonanza-grade intercepts from drilling throughout this year:

SOUTH AUSTIN ZONE EXPLORATION HIGHLIGHTS:
Hole MM24D-08-4447-069 - Intersected 6 meters (m) @ 114.26 g/t gold (Au), from 122.0m to 132.6m, Including 0.7m @ 1,609.26 g/t Au, from 130.5m to 131.2m, within a broader high-grade interval of 4.25m @ 282.00 g/t Au
Hole MM25D-12-4669-011 - Intersected 5m @ 52.86 g/t Au, from 25.0m to 29.5m, Including 1m @ 213.62 g/t Au, from 26.5m to 27.5m
Hole MM25D-12-4669-024 - Intersected 7m @ 48.97 g/t Au, from 5.3m to 24.0m, Including 2m @ 428.83 g/t Au, from 20.5m to 22.5m
Hole MM25D-08-4380-011 -Intersected 1m @ 61.51 g/t Au, from 11.0m to 23.1m, Including 1m @ 725.00 g/t Au, from 12m to 13m,
Hole MM25D-11-4420-024 Intersected 6.9m @ 36.85 g/t Au, from 79.1m to 86.0m

In addition to growing the known areas, there will also be a renewed focus on making new discoveries and following up on the promising earlier-stage drill targets tested in last year’s program like the high-grade shoot at Upper 8, the MJ/Wedge area, North Venus, and North Shore. Gwen also highlights how the Fork Deposit will get some more drilling to further define the higher-grade zone and move it up the matrix of areas to potentially come into the mine sequencing in the medium-term.

Wrapping up we reviewed NI 43-101 PEA prepared on June 30th, 2025, for a toll milling mine operation at its 100%-owned Rowan project in the Red Lake Gold District of northwestern Ontario, Canada.

Rowan PEA Highlights:
High-Grade Efficient Mine: Underground mine via long hole retreat method, delivering an average diluted head grade of 8.0 grams per tonne (“g/t”) gold (“Au”), accentuated by 10.4 g/t Au average grade in Year 1.
Notable Production: 35,230 oz. average annual Au production over the 5-year mine life from an average mining rate of 385 tonnes per day (“tpd”).
Strong Value: $125.3M post-tax Net Present Value (“NPV”) at US$2,500 per oz Au. Post-tax NPV rises to $239M at US$3,250 per oz Au.
Low Costs and Strong Returns: US$1,408/oz all-in sustaining cost (“AISC”) and 41.9% post-tax internal rate of return (“IRR”), underscoring the viability of the Company’s second potential mine in the region. IRR increases to 81.7% at a US$3,250/oz gold price.
Modest Initial Capital: Multiple mills in the area with excess capacity create the opportunity to develop Rowan as a toll milling operation with initial capital of just over $70 million.
High Confidence Inventory: PEA mine design includes 63% of mined tonnes and 72% of mined ounces from the Indicated category – provides solid base for transition into prefeasibility study (“PFS”) level assessment.

If you have any follow up questions for Gwen or the team over at West Red Lake Gold, then please email us at either [email protected] or [email protected].
In full disclosure, Shad is shareholder of West Red Lake Gold Mines 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 West Red Lake Gold Mines
30 min
August 19, 2025InPlay Oil - Transformational Acquisition, Q2 Outperformance, and Growth Strategy
We welcome back Doug Bartole, President & CEO of InPlay Oil (TSX:IPO - OTCQX:IPOOF), to discuss the company’s transformational acquisition of assets in the Pembina area of Alberta from Obsidian Energy, closed earlier this year.
This deal more than doubled production and positioned InPlay as a much larger, more efficient operator. With Q2 results now in, Doug walks us through how the new assets are performing, what it means for free cash flow, and how the company plans to balance debt reduction, dividends, and future growth.
Key topics include:
Overview of the $305M Pembina acquisition and its impact on production (Q2 reported +20,000 BOE/d).
Q2 highlights: stronger-than-expected funds flow, reduced debt, and well outperformance.
Debt reduction strategy and sensitivity to oil price scenarios ($60–$90 WTI).
Synergies from the new assets and Cardium drilling economics with 10-15 years of tier-one inventory.
Long-term growth potential through disciplined M&A and drilling, with the goal of scaling to 40-60,000 BOE/d.
The role of new strategic shareholder Delek Group (32.7% ownership) and the advantages it brings.
If you have follow-up questions for Doug or specific topics you’d like us to cover in future updates, email us - [email protected] or [email protected].

Click here to visit the InPlay Oil website to learn more about the Company.
https://www.inplayoil.com/
23 min
August 18, 2025Craig Hemke - Precious Metals Outlook Ahead of Jackson Hole
Craig Hemke, founder and editor of the TF Metals Report, joins us for his regular Monday discussion to recap the latest in the gold and silver markets and preview what’s ahead this week.
Key Topics Covered:
Jackson Hole Preview: Jerome Powell’s upcoming speech on Friday is expected to set the tone for gold, the U.S. dollar, and broader markets heading into September.
Fed Policy & Rate Cuts: Market expectations remain high for a September cut, but will Powell hint at more aggressive easing?
Gold & Dollar Correlation: Why the recent sideways action could give way to the next breakout move depending on Fed signals.
Central Bank Demand & Bull Market Longevity: How sustained buying continues to underpin gold’s strength, limiting major sell-offs.
Gold Stocks & ETFs: With producers showing strong balance sheets what does that mean for investors?
Craig also shares insights on the revaluation of gold miners - from majors to juniors - and what could fuel the next leg higher in this ongoing bull market.

Click here to visit Craig’s website - TF Metals Report
https://www.tfmetalsreport.com/
24 min
August 18, 2025Norsemont Mining - Growth Strategy AT The Choquelimpie Gold-Silver-Copper Project in Chile: Exploration and Potential Near Term Production
In this company introduction, I welcome Marc Levy, Chairman & CEO of Northmont Mining, for a first in-depth discussion on the company’s flagship Choquelimpie Gold-Silver-Copper Project in Chile.
Northmont is advancing a past-producing mine with existing infrastructure, including a mill, power, water, and extensive historic drilling. The project already hosts over 2.7Moz gold equivalent in resources (2.18Moz Indicated + 557koz inferred), with immediate potential to expand.
Key discussion points:
Financing & Strategic Investors - Recent oversubscribed financing, including participation from Rob McEwen and other notable industry names.
Three-Phase Growth Plan - Advancing stockpile production, expanding the high-grade oxide resource, and testing a large copper porphyry target.
Drill Program Launch - $3.5M allocated to near-term drilling: shallow oxide holes, deeper step-outs on high-grade zones, and initial porphyry testing.
Timeline to Production - Pathway to restart operations within ~2 years, supported by existing infrastructure and ongoing permitting.
Team Strength - Backed by a proven leadership group with multiple successful mining exits and Chilean mine-build experience.
Near-term catalysts include final financing close, drill program commencement, and steady news flow from exploration, metallurgy, and engineering.

Follow up questions for Marc? Email me at [email protected]
Click here to visit the Norsemont Mining website.
19 min
August 16, 2025Weekend Show - Matt Geiger & Jeff Christian - Major Resource Deals & Precious Metals Price Trends
This weekend’s KE Report dives deep into the resource sector — from transformative North American mining deals to the investment forces driving gold, silver, and PGMs. Matt Geiger of MJG Capital breaks down the implications of headline M&A transactions and royalty sales, while Jeff Christian of CPM Group examines precious metals price drivers, demand trends, and market myths.

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!
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Segments:
Segment 1 & 2 - Matt Geiger, Managing Partner at MJG Capital, joins to discuss a series of major resource sector deals, including Minera Alamos’ acquisition of the Pan Mine and Gold Rock from Equinox, Altius Minerals selling part of its Arthur Project royalty to Franco-Nevada, and Hudbay bringing Mitsubishi in as a partner on its Copper World project in Arizona, sharing insights on valuation, permitting risk, jurisdiction diversification, and the broader implications for M&A in mining and royalty companies.
Click here to visit the MJG Capital website to learn more about Matt’s fund
Segment 3 & 4 - Jeff Christian, Managing Partner at CPM Group, discusses how heightened political and economic uncertainty is driving investment demand in gold and silver, with both metals trading near record levels despite volatility. He outlines ETF inflows, futures positioning, and moderating central bank purchases, dispels misconceptions about silver supply deficits, and shares CPM’s outlook for higher silver prices and potential pullbacks in platinum and palladium as recent speculative surges unwind.
Click here to visit the CPM Group website to learn more about the firm.
1 hr 15 min
August 15, 2025TG Watkins – Technical Trading Setups, Crypto & Cannabis Stocks, Tesla Breakout
TG Watkins, Director of Stocks at Simpler Trading and editor of the Profit Pilot service, returns to share his latest short-term trading insights. We cover:
Market Seasonality & Breadth - Why August’s expected weakness hasn’t derailed the rally and how breadth has improved post-CPI.
Sector Rotation - Where capital is flowing now, from mega-cap tech to small caps and overlooked niches.
Crypto Strength - Ethereum’s breakout, Bitcoin miners with energy advantages, and standout altcoin plays.
Cannabis Resurgence - What’s driving multi-week rallies and when to look for a pullback.
Tesla’s Resilience - Technical setup after withstanding months of negative headlines.
TG also highlights trading tactics, key support levels, and where he’s seeing the most compelling opportunities right now.

Click here to visit TG’s site - Profit Pilot
https://www.profit-pilot.com/
18 min
August 15, 2025Marc Chandler - Inflation’s Next Move, Fed Cuts, Dollar Trend & What to Watch
Inflation is rising, but the Fed’s next moves hinge more on the labor market than the latest price prints. Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market, joins us to discuss:
Inflation check: CPI roughly in line but trending higher; PPI surprised to the upside. Mark notes this likely points to a firmer core PCE later this month - but the question is persistence, not just direction.
Fed priorities: Despite hotter inflation data, Powell has linked policy to labor-market balance (unemployment rate over payroll headlines). Markets overshot on cut odds after weak jobs data; expectations have since drifted back toward the Fed’s guidance.
Cuts & QT: Baseline view is ~50 bps of easing this year, with potential messaging around slowing/ending QT as part of reducing overall restrictiveness.
Markets vs. data: Equities keep shrugging off noise (tariffs/geopolitics). Retail sales resilience underscores still-solid demand, tempering the case for aggressive cuts.
U.S. dollar: The downtrend has resumed after a brief short-covering rally. For a big-picture read, watch U.S. rates more than cross-country differentials.
Near-term catalysts: Expect a quieter macro week - flash PMIs and Jackson Hole (labor focus) ahead; the next jobs report is the true potential game-changer for September policy odds.

Click here to visit Marc’s site - Marc To Market.
17 min

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