The KE Report

Weekend Show - Sean Brodrick & Josef Schachter - How To Play The Uptrend In Commodity Stocks: Gold, Silver, Copper, Uranium, Oil & Nat Gas

 
Welcome to the KE Report Weekend Show! 
 
With commodities continuing to run higher, on this weekend’s show we focus on where the best opportunities are for investors.  
 
If you enjoy the show, be sure to explore our website (kereport.com), 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!
 
Segment 1 & 2 - Sean Brodrick, editor of Wealth Megatrends and Resource Trader kicks off the show highlighting the strength in gold producers, with names like Agnico Eagle, Equinox, and Calibre delivering outsized returns and earnings leverage. He also sees opportunity in silver and copper equities catching up to commodity price moves, while remaining cautious on uranium due to geopolitical uncertainty. Sean notes growing interest in traditional energy stocks like Chevron, EQT, and Schlumberger, pointing to potential upside on any pullbacks.
Click here to learn more about Sean’s Resource Trader newsletter. 
 
Segment 3 & 4 - Josef Schachter, Founder and Editor of the Schachter Energy Report outlines his outlook for stable-to-rising natural gas prices driven by cold weather, storage deficits, and record LNG exports, while forecasting a potential $10 oil price spike due to geopolitical tensions. He highlights investor preference for shareholder returns over production growth, names top dividend-paying Canadian energy stocks, and discusses emerging M&A deals and transformative transactions like Inplay Oil's acquisition of Obsidian assets.
Click here to learn more about The Schachter Energy Report
 

Marc Chandler - Capital Outflows, Gold’s Surge, and the Growing US Risk Premium

US markets are under pressure as capital continues to exit the country. Marc Chandler sees this as the fourth major shock in recent years - after COVID, the war in Ukraine, and US-China decoupling - with a new “US shock” centered around rising tariffs and geopolitical unpredictability.
 
European investors are unwinding heavy US exposure from 2023, rotating capital into bonds or back into home markets. Meanwhile, gold’s breakout reflects a global search for safety and trend momentum, while the dollar is not benefiting from its usual safe haven role.
 
Marc believes we’re headed for a pronounced slowdown, not stagflation. The Fed may begin cutting rates mid-year but not because inflation is back at 2%, rather due to a weakening labor market. Until then, risk aversion is high, capital is sitting on the sidelines, and preservation, not growth, is the priority.
 
Click here to visit Marc’s site - Marc To Market. 

Joel Elconin - Worst Month for US Markets Since 2022, the Growing Impact of Uncertainty, and the Flight to Gold

Joel Elconin, co-host of PreMarket Prep, joins us to break down the key drivers behind the significant market weakness and why he sees the combination of deteriorating technicals, poor corporate guidance, and political volatility as a dangerous setup heading into Q2.
 
Tariffs, inconsistent messaging from the US, and a sharp drop in consumer confidence are adding pressure. International sentiment toward the US is shifting, and even travel stocks are showing strain.
 
Joel warns that “buy the dip” may no longer work in this environment. He suggests holding more cash, focusing on capital preservation. With Q1 ending, he expects institutions to de-risk rather than dress up portfolios.
 
Click here to visit Joel’s PreMarket Prep website.
 
Click here to visit the Stock Trader Network.
 
 

West Red Lake Gold Mines - Madsen Mill Restarted, Bulk Sample Is Being Processed, Connection Drift Near Complete, and Mine Restart Activities Underway

Gwen Preston, VP of Communication at West Red Lake Gold Mines (TSX.V:WRLG – OTCQB:WRLGF), joins us to review the successful mill restart being achieved and all the ongoing development work and initiatives underway, both at surface and underground; moving towards first gold production towards the end of Q2 at the Madsen Mine and Mill, in the Red Lake district of Ontario, Canada.
 
We start off reviewing that the test mining bulk sample is currently being run through the mill as an initial first step in the process of restarting production at the Madsen mine and processing center. The mill was started up on Monday March 10th after 28 months of maintained dry shutdown. The processing of this bulk sample ore is the key initiative that the company will report results on in about a month’s time.  They will review the reconciliation of what the production grade and recovery assumptions were, versus what the recovered gold and revenues end up being.
 
Next we got into all the other mine restart activities well underway with the 185 employees and over 50 contractors busy with so many different initiatives from underground definition drilling, working on completing the connection drift which is approximately 97% complete, and the camp being mostly build and now housing workers. We also looked ahead to the 2nd half of 2025, once the mine is producing gold and revenues, where there is a full slate of exploration targets for the team to go after to keep expanding resources at the Fork deposit, at North Shore, in the confederation package of rocks, and the satellite Rowan Project. There will be a lot of newsflow on tap in the weeks and months to come, as this is a very active time for the company and team at the Madsen Project.
 
 
If you have any follow up questions for the team over at West Red Lake Gold please email us at Fleck@kereport.com  or  Shad@kereport.com.
 
In full disclosure, Shad is shareholder of West Red Lake Gold Mines at the time of this recording.
 
Click here to visit the West Red Lake Gold website and read over the recent news we discussed.

Matt Badiali - Critical Minerals, Permitting Plays, and Real Impact of Trump’s Executive Order

Matt Badiali, Editor of The New Energy Investor published under Mangrove Investor, joins us to assess what President Trump’s new executive order to fast-track critical mineral development in the U.S. really means for the mining sector - and where investors should be paying attention.
While the order includes aggressive timelines and a broad list of minerals, even gold, Matt believes it’s more of a political signal than a regulatory breakthrough. Without actual changes to permitting laws and processes, he argues the order won’t speed up mine development on its own. That said, it could succeed in attracting new capital to the sector, especially for U.S.-based projects and companies stuck in permitting limbo.
Matt highlights how high-profile assets like Pebble, Resolution, and projects across Minnesota and South Carolina are now back in focus as permitting plays gain momentum. But he cautions that without deeper policy reform, and funding, many of these projects could remain stalled. 
 
He also explains why a key section of the executive order, invoking the Defense Production Act to support project financing, might be the most impactful. If capital finally starts flowing from U.S. agencies into early-stage exploration or advanced development projects, it could represent a major turning point for the sector.
 
Click here to visit the Mangrove Investor website to follow along with what Matt is writing.

Brien Lundin - Surging Gold, Silver, Copper, Junior Mining Opportunities, and Portfolio Strategy

Gold above $3,000, silver over $35, and copper near all-time highs - this is the commodity bull market many investors have been waiting for. 
 
Brien Lundin, Editor of the Gold Newsletter and our host at the New Orleans Investment Conference joins us to share his outlook on the rally across precious and base metals and how it’s translating into momentum for the mining sector, especially junior stocks.
 
Brien discusses how recent tariff talk and ongoing geopolitical risk have added fuel to a move that’s already being supported by strong monetary fundamentals. Central banks continue to buy gold, and now western investors are starting to rotate into the space. With gold mining equities outperforming the metal itself, and juniors seeing increased access to capital, Brien believes the setup is in place for broader gains across the sector.
 
He also outlines how the strength in gold is expected to show up in Q1 earnings, with producers benefiting from significantly higher average prices. As generalist investors screen for performance, gold equities could be too strong to ignore.
 
We also discuss how Brien is positioning his portfolio, why he’s adding exposure to select juniors with strong resources or near-term catalysts, and his take on silver and copper stocks, which have yet to fully follow the underlying metals. He shares several company names currently on his radar and explains how he balances taking profits while staying exposed to the upside.
 
Click here to learn more about the Gold Newsletter.

Zeus North American Mining - Targeting a New Porphyry Copper Discovery at Cuddy Mountain

Dean Besserer, President and CEO of Zeus North American Mining (CSE:ZEUS - OTCQB:ZUUZF - FRA:092) joins me for a company update focused on the Cuddy Mountain Project in Idaho, located adjacent to Hercules Metals’ Leviathan porphyry discovery. After a comprehensive 2024 surface program, Zeus has now defined a compelling copper-silver-moly porphyry target, supported by geochem and a large, high-chargeability IP anomaly starting at ~100 meters depth.
 
The anomaly spans a 3x3 km footprint, potentially extending up to 5 km northeast. The company is preparing for an 8-10 hole drill program expected to begin in late summer, pending permits. Dean outlines a $2-2.5M budget for the program.
 
We also discuss regional activity from neighbors like Hercules, Scout (private, recently raised $10M USD), and NexGold, plus ongoing dialogue with major mining companies.
 
Dean notes that drilling a porphyry system offers immediate visual confirmation, setting the stage for rapid follow-up if initial holes are successful.
 
If you have any follow up questions for Dean please email me at Fleck@kereport.com. 
 
Click here to visit the Zeus North American Mining Corp.

District Metals - New Zinc-Silver Lens Discovery At Stollberg, Exploration Updates Across Sweden

Garrett Ainsworth, President and CEO of District Metals (TSX.V:DMX - OTCQB:DMXCF - Nasdaq First North: DMXSE SDB) joins me for a full update on recent exploration results from the Stollberg Project, part of the company's partnership with Boliden in Sweden. The March 26th news highlighted five drill holes totaling 2,465 meters, including a standout intercept of 11 meters grading 5.8% Zn, 1.1% Pb, and 20 g/t Ag.
 
This first-pass drill program hit wide, mineralized zones and successfully identified a new lens discovery in hole 154 - an untested area with no historical drilling. Downhole EM data has also revealed promising off-hole conductors to help vector future drilling. Additional targets remain open along strike and at depth, setting the stage for follow-up work in H2 2025.
 
We also discuss the ongoing drill program at the Tomtebo Project, where drilling is underway.
 
Looking ahead, District and Boliden plan to drill 7,000–8,000 meters across both projects this year, supported by a $3M CAD exploration budget. Additional drilling at Stollberg is planned for later this year across multiple target zones.
 
On the uranium front, Garrett provides a progress update on the Swedish uranium moratorium, which is on track for a parliamentary vote this September. Legislative changes could take effect in January 2026, but confidence in the outcome has led District to resume work on its uranium assets, starting with an updated resource for the Viken deposit in Q2 and fieldwork across the portfolio this spring and summer.
 
If you have any follow up questions for Garrett please email me at Fleck@kereport.com. 
 
Click here to visit the District Metals website to learn more about the Company.

Thor Explorations – Strong Gold Production Margins Providing For Increased Exploration Around The Segilola Mine And The Douta Development Project

Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins me to review the optionality that being debt free with large margins from gold production is providing.  This is allowing the Company to increase exploration initiatives around the Segilola Mine, in Nigeria, as well as exploration activities at the Douta Gold Project, in Senegal.  We also discuss the ramp of exploration over at the Guitry Gold Project and exploration portfolio in Cote D’Ivoire.
 
Segun reiterated the 2025 guidance at the Segilola Mine is still on track for 85,000 – 95,000 ounces of gold production this year.  The Company anticipates very nice margins at the current $3,000 gold prices and a projected full year 2025 All-in Sustaining Cost (“AISC”) guidance of $900 to $1,000 per ounce.  We also reiterated the key company milestone in Q4 of the final and full repayment of the senior debt facility with Africa Finance Corporation (“AFC”). The Company now has no senior debt and has a net cash position in 2025.
 
The exploration team is busy with ongoing drilling around the Segilola mine, both at depth under the existing pit and also at surface delineating potential satellite pits to extend the mine life.  Any resource expansion will be very accretive as there will be no more material capex as the sunk costs have already been paid for, so this remains a key focus of the Company.
 
Transitioning over to the Douta Project, the RC drilling program last year was focused on increasing the percentage of oxide resources at the Makosa East Prospect, which runs parallel to the main Makosa mineralized trend and is ongoing. Then on March 24th, a press released announced that two discovery holes in its Douta-West license, at the Baraka 3 Prospect, returned 19 meters (m) at 2.46g/t Au from 29m depth, and 26m at 1.31 g/t Au from 21m depth.  Segun outlines that they have wanted to keep drilling this new Douta-West concession because it may be meaningful at the early part of the mining sequence, improve the payback and economics, and this will be factored into the upcoming Pre-Feasibility Study (“PFS”) and Mineral Resource Estimate, as the next major milestone for the company later this year.
 
Wrapping up we discussed the early stage exploration prospectivity and work planned later this year at their 100% interest in the Guitry Gold Project in Cote D’Ivoire. The exploration portfolio at the Guitry and Boundiali licenses will see the continuation of geochemical work programs and an initial drill program on identified targets.
 
 
If you have any questions for Segun regarding Thor Explorations, then please email them into me at Shad@kereport.com.
 
*In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview.
 
Click here to follow the latest news from Thor Explorations

First Nordic Metals – Now Listed On The Nasdaq First North Growth Market in Sweden, Diamond Drilling At The High-Priority Aida Target, Analyst Coverage, TSX Venture Top 50

Taj Singh, CEO, and Adam Cegielski, President of First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF), join me to discuss their recent listing on the Nasdaq First North Growth Market in Sweden, diamond drilling at the high-priority Aida Target at their 100% owned Paubäcken Project, other key targets for this year’s 25,000 meter exploration program at the Harpsund (Paubäcken) or Nippas (Storjuktan) targets, recent analyst coverage, and their inclusion into the TSX Venture Top 50 companies.
 
We start off having Adam outline the significance of First Nordic Metals having been listed and now trading on the Nasdaq First North Growth Market in Sweden.   This attracts more liquidity into the stock, and it will stand out as one of the few gold stocks listed in country, which historically see solid participation from Swedish investors that want to invest domestically.
 
Next we shifted over having Taj outline the key 2025 exploration target areas of focus for this year’s 25,000 meter drill program across their 100% owned projects along the Gold Line Belt. At Paubäcken, there is one drill rig that has been turning since late February at the high-priority  Aida Target where 11 holes have been drilled to date.  
 
A second drill rig is going to be added soon that may keep expanding the work at Aida, or potentially test other Paubäcken targets like Harpsen, or it could be moved over to Storjuktan to test the Nippas target.  Additionally, the Company has completed a base-of-till, top-of-bedrock drilling program on the 100%-owned Klippen Project, located in the southern extent of the Gold Line Belt, where depending on results, it may also receive some drilling this year. Adam shares a bit more about some of the new targets the team has identified from geophysics surveys and BOT drilling, and just how big of a land position they control across this prolific mineralized belt.
 
We then shift over to recent analyst coverage from both Haywood Capital and Ventum Capital with price targets at multiples higher than where the stock is trading today. On February 20th the Company announced that it has been named as a 2025 TSX Venture 50 company; which recognizes the top 50 of over 1,600 TSX Venture Exchange issuers based on market capitalization growth, share price appreciation, and trading volume growth. Taj then wraps us up describing the larger company vision and 2025 work strategy.
 
If you have any questions for Taj or Adam, regarding First Nordic Metals, then please email them to me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of First Nordic Metals at the time of this recording.
 
Click here to follow the latest news from First Nordic Metals