The KE Report

In this KE Report Company Update, we’re joined by Terry Lynch, CEO of Power Nickel Mines (TSX.V:PNPN - OTC:PNPNF - FRA:1VV), to discuss the company’s aggressive and fully funded 100,000-meter drill program at the polymetallic NISK Project in Quebec. 
 
Key Highlights from the Interview:
Exploration Strategy: A six-rig program focused on expanding the Lion Zone at depth, exploring new polymetallic targets, and connecting a 5+ km corridor between Lion and NISK East.
Resource Growth Path: Early-stage modeling efforts are enabling analysts and investors to build their own interpretations of scale, while metallurgical studies are underway to confirm high recovery rates.
Financing & Market Volatility: Terry explains the timing behind the capital raise, recent market headwinds triggered by tariff fears, and how investor sentiment impacted the stock despite strong news flow.
Name Change Rationale: Rebranding from Power Nickel to Power Metallic better reflects the polymetallic nature of the discovery, which includes high grades of copper, nickel, PGEs, gold, and silver.
Click here to visit the Power Metallic website for more information on the company.
📬 Send in your questions - we’ll follow up with Terry as more drill results come in. Fleck@kereport.com and Shad@kereport.com 

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us for a longer-format discussion on and the macro and micro themes that are continuing to create volatility in the general equities, bonds, and commodities market, and how he has been using these moves to both prune winning positions and plant new positions in the gold, silver, copper, rare earths, and uranium stocks.
 
We start off reviewing the cooling of the extreme market volatility we witnessed a little over a month ago, where general US equities have rebounded strongly, but instead of being concentrated into just mega-cap tech, capital has broadened out into other sectors like consumer staples, real estate, and industrials. Nick reiterated his stance that these factors are not demonstrating an economy going immediately into a recession or depression, and neither are the improving GDP metrics, so he is anticipating a reflationary trade for the second half of this year.   When the pause comes off the tariffs in July they will be less extreme than many initially envisioned, but this will still cause an uptick in inflation and be a net positive for the commodities sector.
 
Nick remains bullish on gold, silver, and copper for fundamental reasons as well as recent pricing strength momentum.   In addition to solid portfolio positions in ETFs like (GDXJ) and (SLVR), or playing domestic copper and base metals production through Freeport-McMoRan Inc. (NYSE: FCX); he was also active last year and early this year putting capital to work in junior exploration companies like Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF), Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF), and Quartz Mountain Resources Ltd. (TSXV:QZM)(OTC PINK:QZMRF).
 
We the weave in other commodities, such as how he is playing rare earths recycling through a position in CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF), or investing in junior uranium stocks using the ETF (URNJ) or positions in Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU) and Denison Mines Corp. (TSX: DML) (NYSE American: DNN).   This leads to a deeper dive into the overall demand drivers for nuclear power, small modular reactor stocks, uranium supply constraints as the utility contracting picks up the pace, and how that should continue to benefit uranium equities. 
 
Click here to follow Nick’s analysis and publications over at Digest Publishing

In this KE Report company update, we welcome back Cameron Tymstra, President and CEO of Targa Exploration (CSE:TEX - OTCQB:TRGEF - FRA:V6Y), to discuss the company’s evolving gold exploration strategy in the James Bay region of Quebec.
 
Targa is gearing up for its first drill program at the Opinaca Gold Project with a larger financing, share consolidation, and airborne geophysics planned to refine high-priority targets.
 
Key discussion points include:
– Why Targa cancelled a smaller $500k raise in favor of a $2.6 million financing, supported by strong investor interest– How proceeds will fund airborne geophysics and a ~3,000m maiden drill program targeting a 7-km gold anomaly– Details on the 5-for-1 share consolidation and rationale behind the capital structure reset– Comparables and context: proximity to Newmont’s former Eleonore Mine and Patriot Battery Metals’ Corvette project – Cost estimates for drilling and expectations around permitting and pad selection before the planned August/September drill mobilization– Potential for future portfolio expansion into additional gold assets
 
The Opinaca project presents a greenfield opportunity in a region with very limited historical exploration. 
 
Visit the Targa Exploration website for more details.
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In this company update, I’m joined by Mike Konnert, President and CEO of Vizsla Silver (NYSE:VZLA - TSX:VZLA), to discuss two major developments: the resumption of field work at the Panuco Project and the strategic acquisition of the Santa Fe claim package, which includes a currently producing silver-gold mine.
 
Key Topics Covered:
– Santa Fe Acquisition: Mike explains how the deal was forged through long-standing relationships with a private Mexican mining family. The acquisition adds a producing mine, a mill, and significant exploration upside adjacent to the Panuco Project, strengthening Vizsla’s district-scale production vision.
 
– Panuco Project Field Work Resumes: Following a temporary pause, test mining and exploration drilling are back underway. Mike outlines the rapid progress at the Copala test mine and the company's strategy to build out multiple centers of production across the district.
 
– Exploration Outlook for 2025: With six rigs active and a rolling 10,000-meter drill program, Vizsla is targeting growth both near the current resource and across new high-potential zones like Animas, Colorado, and Santa Enrique. The company is also integrating new EM and geophysical data to refine drill targets.
 
– Feasibility Study & Project Financing: The upcoming feasibility study is expected to align closely with the strong economics from the PEA. Vizsla currently holds US$100M in the treasury and has advanced project finance discussions. The company aims to be fully funded and permitted to begin construction, targeting production by late 2027.
 
– Industry Positioning and M&A Trends: Mike highlights recent silver sector M&A deals (like MAG Silver and Pan American), reinforcing that Mexico remains a highly desirable jurisdiction. He sees Vizsla as well-positioned for a major re-rating as the company continues to de-risk and build scale.
 
If you have any follow up questions for Mike please email me at Fleck@kereport.com. 
 
Click here to visit the Vizsla website to learn more about the Company.
 

Simon Dyakowski, President and CEO of Aztec Minerals, outlines the company’s growth strategy at the Tombstone Gold-Silver Project following a successful $3.6M financing and land expansion.
 
In this KE Report interview, Simon Dyakowski provides a detailed update on:
The oversubscribed $3.6 million private placement, closed in just three weeks without a broker.
Strategic land staking at Tombstone, expanding the land package by ~46%, and the rationale behind targeting newly available unpatented claims.
The difference between patented and unpatented mining claims, and what this means for exploration and surface rights.
Updates on Aztec’s JV ownership increase to 78.7%, giving them stronger control of the Tombstone district.
Plans for a fully funded 5,000-meter drill program, focused on shallow high-grade targets and deeper CRD zones, with work expected to start in the next month.
Early-stage preparations for work at the Cervantes Project in Sonora, Mexico.
This is a comprehensive look at how Aztec is strategically consolidating its position in Arizona while advancing exploration in both the U.S. and Mexico.
 
Please email me any questions you have for Simon. My email address is Fleck@kereport.com. 
 
Click here to visit the Aztec Minerals website. 

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins us to outline why he is not convinced in the Wall Street narrative that the worst parts of the tariff implications are behind us, based on macroeconomic data he is following including the weakness in the US long bond, US dollar, and business guidance through year end.  He is only holding the highest conviction sectors like gold, precious metals stocks, dividend paying mid-tier oil and gas stocks, and utility stocks, in this continued environment of uncertainty.
 
 We start off discuss the continued challenges to trade barriers, issues with the US deficit and increased debt loads, and international buyers still scaling out of US markets to repatriate funds into their own domestic stock markets.  Sean has been bullish European defense stocks, South American fintech and water stocks, and even Canadian stocks, although he’s not yet transitioned to buying Japanese stocks at this point.  He is not convinced that large US tech stocks are in the same kind of safe upward trajectory that they have been for years and believe AI and other foreign platforms may be a threat to some domestic large-cap tech stocks.
 
With regards to the commodities sector, Sean is constructive that this recent pullback in gold has been a buying opportunity and is still bullish both gold and silver stocks in the medium-term.   He is also is getting interested in accumulating the better run intermediated oil and natural gas stocks that pay good dividends and may be the acquisition targets of the larger energy companies.  He likes nat gas power as a bridge energy for big data companies and AI, and still sees value in the utility stocks. This leads into a discussion on why he’s still bullish in the longer-term for copper and copper equities, but doesn’t feel it is as imminent or urgent to get positioned.
 
Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends
 
Click here to learn more about Resource Trader

Dave Erfle, Founder and Editor of Junior Miner Junky, joins us to discuss the powerful shift now unfolding across the junior mining sector. After years of capital scarcity, junior exploration companies, even those with sub-$10M market caps, are suddenly raising millions in oversubscribed financings. What's driving the turnaround?
 
Dave explains how the breakout in GDX/GDXJ earlier this year is fueling a rotation into earlier-stage juniors, with smart money moving down the food chain. The TSX Venture is showing technical strength, silver juniors are outperforming, and M&A activity is picking up across the silver space.
 
We discuss:
The surge in financings across micro-cap juniors
Capital rotation from producers to exploration plays
The silver catch-up trade and gold:silver ratio compression
What to look for in development-stage funding (and what to avoid)
Jurisdictions gaining favor - is Mexico back?
Dave also shares when he takes profits, how he spots takeover targets, and why quality still matters, even in the high-risk junior phase.
 
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter. 

John Miniotis, President and CEO and David O’Connor, Chief Geologist of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), join us to review one of the first drill assays returned from the ongoing Phase V exploration program, returning the best gold intercept to date at their wholly-owned Diablillos property in Salta Province, Argentina.  Due to the timing this hole will still make it into the updated Resource Estimate due out in mid-year in July.
 
These standout intercepts come from step-out hole # DDH 25-024, which encountered exceptional gold and silver mineralization just beyond the previously defined eastern margin of the conceptual Oculto open pit, in what has been dubbed the Oculto East area. These results underscore the strong potential for continued growth of high-grade mineralization east of Oculto, making this a high-priority exploration target for follow-up drilling in the ongoing Phase V drill program.   
 
Highlights include of DDH 25-024 include:
 
31.0 metres (“m”) grading 10.0 g/t gold and 16 g/t silver, including 6.0 m at 41.9 g/t gold and 22 g/t silver
 
Additionally, the same hole returned a separate interval of 13.0 m grading 307 g/t silver from 216 m depth and within the conceptual open pit, including 8.0 m at 446 g/t silver in the upper silver-enriched zone
 
With three drill rigs now active across the broader Diablillos land package, and the potential to add a fourth rig in the future, the Company is entering another exciting new phase of exploration growth. In addition, the Company is doing all the derisking work programs in parallel with exploration for their ongoing Definitive Feasibility Study due out in early 2026.
 
 
If you have any follow up questions for John or Dave regarding at AbraSilver, then please email us at Fleck@kereport.com or Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of AbraSilver at the time of this recording.
 
Click here to visit the AbraSilver website and read over the most recent news releases.

In this episode, I’m introducing G2 Goldfields (TSX.V:GTWO - OTCQX:GUYGF), a gold exploration company rapidly gaining attention following a major high-grade gold discovery and continued growth at its flagship Oko Gold Project in Guyana.
 
Joining me is Dan Noone, CEO of G2 Goldfields, who walks us through the company’s resource, expansion plans, and ongoing exploration success.
 
Key Highlights from the Interview:
Oko Gold Project now hosts 3.1Moz at ~3g/t, with multiple deposits along a 2.5km strike - anchored by the high-grade Oko Main Zone and expanding into the Ghanie Zone.
A new high-grade discovery (“New Oko”) 9km north of the existing resource is delivering thick, near-surface mineralization, rapidly becoming the top priority with 4 rigs turning.
Strategic exploration is ongoing across a district-scale 85,000-acre land package, including the historic Peters Mine.
The company is well-funded with ~C$30M in the treasury and a drill cost of ~US$200/meter.
Discussion around potential timing of a PEA, while management remains focused on discovery and resource growth.
Institutional interest, with AngloGold Ashanti now holding a 15% stake and insiders controlling 25%.
Please email me with any questions you have for Dan. My email address is Fleck@kereport.com. 
 
Click here to visit the G2 Goldfields website.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the key investing themes and takeaways from the 2 TopShelf Partners conferences we attended last week:  the Commodities Global Expo 2025 in Fort Lauderdale, Florida; and then the Natural Resource Stocks Expo 2025 in Atlanta, Georgia.   Erik also highlights 11 different companies that caught his attention at the event either as portfolio positions, or new companies that he is doing more due diligence on.   This is a wide-ranging conversation that gets into gold, silver, copper, nickel, and critical minerals resource investing.
 
The companies discussed in the interview are: First Nordic Metals Corp. (TSX.V: FNM, OTCQB: FNMCF, Stockholm: FNMC SDB, Frankfurt: HEG0), Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP), Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G), Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8), West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF), Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF), Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV), U.S. Gold Corp. (Nasdaq: USAU), Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92), Fairchild Gold Corp. (TSXV: FAIR), and Cerrado Gold Inc. (TSX.V: CERT) (OTCQX: CRDOF).
 
 
* In full disclosure, some 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