The KE Report

 
Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF) joins me to answer listener questions and provide insights into the company’s growth strategy, revenue potential, and commercialization efforts of the G® Lubricant and THERMAL-XR.
 
GMG recently announced a $5 million bought deal financing, and Craig explains how these funds will be allocated to expand production, grow sales teams, and pursue an uplisting to a major U.S. exchange. While production capacity can scale significantly, the company is prioritizing sales and market penetration before making major capacity expansions.
 
A key focus is on G Lubricants and Thermal XR, two of the company’s three divisions. Craig shares details on current sales efforts, distributor partnerships, and ongoing trials with major corporations, including a successful energy savings case study with a Singapore bank in collaboration with Cushman & Wakefield. 
 
GMG is also exploring multiple revenue channels, including direct-to-consumer sales, distributor partnerships, and collaborations with OEMs and large industrial players. Craig discusses how G® Lubricant is gaining traction in the trucking industry, where fuel efficiency improvements could drive significant demand. He also provides updates on EPA approvals, new product launches for individual usage, and how GMG is positioning itself as a leader in graphene-enhanced solutions.
 
Looking ahead, GMG is balancing commercial sales growth with R&D advancements, ensuring the company can rapidly scale production and maintain high profit margins. Craig outlines the expected revenue drivers for 2025 and beyond, how the company is working with major corporations in a wide range of industries, and when investors can expect to see meaningful revenue impact.
 
Please keep the questions coming! Email me at Fleck@kereport.com.
 
Click here to visit the GMG website to learn more about the Company.

David Stein, President & CEO, joins me for a big-picture overview of the company’s ongoing production ramp-up at the Bethania Project in Peru and exploration progress at the Silver Kings Project in Ontario.
 
Production at Bethania is steadily increasing, with a target of 350 tons per day this year. David provides insights into the step-by-step strategy, including how toll milling is enabling operations now and how the company plans to transition to its own plant to support future expansion. He also discusses how the company is positioning for long-term growth, with the potential to expand the mine and develop a larger silver district in Peru.
 
With silver prices currently above $34 per ounce, Kuya Silver is very leveraged to the price, with 80% of its revenue tied directly to silver. David explains how higher silver prices could accelerate cash flow, support expansion, and drive a revaluation of the company’s stock price.
 
On the exploration front, Kuya Silver is advancing the Silver Kings Project in Ontario, where recent drill results from January announced more high grade results. David shares what’s next for this project and when investors can expect further results from the latest drilling campaign.
 
We also touch on the company’s $2.5 million financing, how these funds will be used to accelerate the production ramp-up, and what investors should expect in terms of upcoming news flow, including production updates and quarterly reporting.
 
If you have any follow up questions for David please email me at Fleck@kereport.com.  
 
Click here to visit the Kuya Silver website.

 
Mike Larson, Editor in Chief at MoneyShow, joins us to break down the latest market trends, rising volatility, and where investors should be positioning for the months ahead.
 
Since our last conversation in January, the market landscape has shifted dramatically. Stocks have swung from optimism to uncertainty, fueled by policy changes, trade concerns, and valuation resets in high-growth sectors. AI stocks, which soared earlier this year, have taken a hit, cryptos have stumbled, and the broader markets have seen heightened two-way volatility. Mike unpacks what’s driving these moves, from shifting policy narratives to investor sentiment extremes.
 
With all this uncertainty, gold has been the clear standout, now over $3,000 an ounce. Mike explains why gold has outperformed, how international markets are showing strength, and whether this signals a generational shift in global investing trends. While Western investors have been slow to embrace gold equities, there are signs that broader participation is increasing.
 
We also dive into the gold vs. Bitcoin debate, looking at how digital assets have behaved during recent market turmoil. While Bitcoin has moved more in line with tech stocks, gold has maintained its traditional role as a safe-haven asset. Mike weighs in on whether this trend will continue and what it could mean for both asset classes.
 
Click here to find out about the upcoming MoneyShow conferences. 
 

Terry Harbort, President and CEO of Talisker Resources (TSX: TSK) (OTCQX:TSKFF), joins me for a comprehensive update on the confidence in the mineral resources, ongoing exploration and development work, and the near-term pathway towards moving into gold production at the Mustang Mine, located on their Bralorne Gold Project in British Columbia.
 
Terry outlines the mineral inventory that their team has delineated after 150,000 meters of exploration drilling, and then an additional 15,000 meters drill last year to upgrade categories and confidence in the resource estimate and model.   We review that main area of focus for the development declines and work up until this point in time has been in the unmined area, between the historically mined Bralorne  and King mines, now referred to as the Mustang Mine.  In addition to being amenable to toll mining at nearby processing centers with spare capacity, there have been studies underway looking at upgrading the ore on site using ore-sorting technology, so that higher-grade material, with less associated waste would make it more economical to be shipped to additional processing centers.
 
We shift over to the remaining work there to be completed, a rough idea of the sustaining capital that will be needed to put the Mustang Mine into production imminently and start ramping up the throughput from 100 tonnes per day (tpd) in the next couple months, to 175 tpd after that, and then up to 250 tpd by year-end.  Moving into next year it is anticipated that throughput can rise up to 500 tpd and then eventually 750 tpd in the years thereafter.  That will involve pulling in material from the unmined areas between the historic Bralorne and Pioneer mines as a second eventual area of focus.
 
Wrapping up we discuss the health of their treasury, the strength of the management and operational teams, and the key milestones and news on tap for the balance of this year.
 
If you have any follow up questions for Terry then please email me at Shad@kereport.com.
 
Click here to follow the latest news from Talisker Resources

Dave Erfle, Editor of the Junior Miner Junky joins us for an in-depth discussion on the state of precious metals stocks, portfolio management strategies, and key market trends.
 
Dave shares his perspective on why certain stocks continue to break out while others lag behind. While some companies are soaring to new highs, many investors are left wondering what to do with the stocks that just can’t seem to gain traction. We discuss whether it makes sense to rotate capital out of underperformers and into momentum plays or if patience is the better strategy in this market cycle.
 
He explains how portfolio strategy should be approached on a case-by-case basis, factoring in share structures, dilution risks, and technical setups. With GDX and GDXJ breaking out to multi-year highs, Dave highlights key resistance levels and what they signal for the broader rally.
 
The conversation also touches on copper and base metals, where Dave sees selective opportunities despite the sector not moving in sync with gold and silver. He breaks down the importance of market cap analysis, how to compare companies relative to their peers, and whether smaller-cap stocks will eventually catch up in valuations.
 
Mergers and acquisitions have been surprisingly quiet following major industry conferences, raising questions about when deal-making might accelerate. Dave shares his take on what could trigger more consolidation in the mining space.
 
We also dive into potential market pullbacks, what signals to watch for, and how investors can position themselves accordingly. With gold and mining stocks in overbought territory on some timeframes, Dave outlines different scenarios, including whether a correction would play out through price declines or simply a period of sideways consolidation.
 
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter. 
 

Colin Padgett, President & CEO of Founders Metals (TSX.V: FDR - OTC: FDMIF), provides a key update on the company’s latest drill results, revealing a significant new gold discovery at the Van Gogh target. With a 60,000-meter drill program underway, he explains what this means for investors and the next steps in the company’s aggressive exploration strategy. See map posted below for an overview of where the past drilling and targets are located on the Project. 
 
The discussion focuses on recent preliminary drill results from the Van Gogh target. In two news releases (February 20 and March 17), the initial data indicates high-grade gold over substantial widths, such as 20 meters yielding over 7 g/t gold and 72 meters yielding 2.29 g/t. Colin elaborates on the significant breakthrough at Van Gogh, detailing the journey from geophysical anomalies and lidar data to the discovery confirmed by channel sampling and subsequent drilling. 
 
The conversation also covers future drilling plans, indicating a strategic focus on fresh rock zones and structural trends. Additionally, Colin discusses another emerging gold trend on the property and plans to explore new targets like Maria Geralda. He provides an overview of ongoing and upcoming drilling activities at various targets within the Antino Property, emphasizing the importance of new discoveries in adding shareholder value.
 
If you have any follow up questions or topic you would like Colin to address please email me at Fleck@kereport.com. 
 
Click here to visit the Founders Metals website. 
 
Click here to listen to the prior interview outlining the full 60,000 meter drill program. 
 

Craig Hemke, Founder and Editor of TF Metals Report, joins us to discuss gold’s breakout above $3,000, silver’s continued strength, and the growing momentum in mining stocks. We explore the U.S. government’s potential revaluation of its gold reserves as a means to fund a strategic Bitcoin reserve, analyzing how this move could impact monetary policy, market stability, and the broader financial system.
 
Craig also breaks down the unusual pricing dislocations in gold and silver markets, highlighting the unprecedented movement of physical metal between vaults and across international borders. As mining stocks respond to record-breaking margins, we examine what this means for investors and whether the sector is finally seeing sustained institutional interest.
 
The discussion wraps up with a look at the Federal Reserve’s upcoming policy decisions, the shifting global economic landscape, and how geopolitical tensions are influencing precious metals. Craig shares his insights on where gold and silver prices could be headed next and whether this rally has staying power.
 
Click here to visit Craig’s website - TF Metals Report

Tara Christie, President and CEO of Banyan Gold (TSX.V:BYN - OTCQB:BYAGF) joins me to discuss the recently announced $14.5million financing with a strategic investor, at a premium to market. The Company will use the funds to advance the AurMac Gold Project in the Yukon, that holds an over 7million oz gold (inferred) deposit. 
 
Initially focusing on the strategic investment, Tara highlights the confidence this brings from high-caliber investors and details the expected spending on project advancements. Tara also explains how the financing terms are favorable and, since it is mainly flow-through dollars, will be used to advance the project.
 
Looking ahead, Tara outlines the drilling program set to commence in April, aiming to hit high-grade targets and support infrastructure for the project's Preliminary Economic Assessment (PEA) expected in Q4.
 
The discussion also covers the company's valuation, noting that despite having over 7 million ounces of gold in the ground, Banyan's market valuation is around $70 million CAD, with around $10 million in the bank before the new investment. Tara addresses past region-specific challenges, expressing optimism about future prospects and improving sentiments.
 
If you have any follow up questions for Tara please email me at Fleck@kereport.com. 
 
Click here to visit the Banyan Gold website.
 

Welcome to The KE Report Weekend Show!
 
On this weekend’s show we focus on the continued decline in US markets, how tariff wars are impacting markets, and the outperformance of precious metals with gold now at $3,000. 
 
If you enjoy the weekend show please go back through our website (https://www.kereport.com/), Podcast (https://rebrand.ly/KER-Podcast) and YouTube Page (https://www.youtube.com/@theKEReport) to listen to all our market commentary and company interviews. Please subscribe and leave us a review.
 
Segment 1 and 2 - Peter Boockvar, Chief Investment Officer Bleakley Financial Group and Editor of The Boock Report on Substack kicks off the show with a deep dive into market weakness, the impact of U.S. tariffs on global trade, the fading AI stock rally, growing investor interest in commodities like gold and industrial metals, and the Fed’s tough position on rate cuts.
Click here to follow Peter at The Boock Report. 
 
Segment 3 & 4 - Brien Lundin, Editor of the Gold Newsletter and our host at the New Orleans Investment Conference (November 2-5 2025) joins us to discuss the growing investor momentum in gold and silver stocks as they finally respond to rising metal prices. He discusses the sector's outperformance, strong earnings, and increased interest from generalist investors shifting capital into mining equities.
Click here to learn more about the Gold Newsletter.
 
 

Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX:CXB – OTCQX:CXBMF), joins us to unpack the key takeaways and synergies of the merger with Equinox Gold (TSX: EQX) (NYSE American: EQX).
 
We start off higher level with how the operating Calibre assets in Nicaragua and Nevada in combination with the Valentine Gold Mine under construction in Newfoundland, will combine with the Equinox Gold assets in Canada, the US, Mexico, and Brazil, in particular the newly built Greenstone Mine, to form a major gold producer, with a production profile of 950,000 ounces in 2025, and a pathway to 1.2 million ounces in 2026 once the Valentine Mine has ramped up into production.
 
Next we have Ryan address the speculation from some Calibre shareholders that there would have been more value creation by staying a standalone company through the production ramp up of Valentine.  Ryan conceded that it could be that staying standalone may have provided more short-term torque as they moved into production at Valentine, but points out that they may also have then missed the opportunity to merge with Equinox, which was their desired partner that they’ve been in discussions with for many months.  Both management teams believe that both companies are quite undervalued compared to peer gold producers on a price/NAV basis, and that by combining that they can unlock the rerating higher.  
 
We also pointed to questions and concerns from some investors about the timing of this announcement and if there are some challenges with the buildout of this new mine that played into the need to merge.  Ryan dispelled the notion that there have been any challenges with the build out of Valentine, as the mine build remains on-time and on-budget, and he stated that was not the rationale for the business combination.  Instead, they truly believe that the Equinox assets can be optimized with the strengths of both teams working together to provide a bigger upside value for Calibre shareholders that stick with the pro-forma combined company, compared to any near-term gains they would have received by staying standalone.
 
Wrapping up we reviewed how elements like jurisdictional diversification, a larger production profile, a larger market capitalization, and a dual-listing on both the Canadian and US exchanges will allow larger institutions and more American investors to participate in enhanced liquidity. Ryan points out that while all those elements will play a part, that it is really more about unlocking the value in the current portfolio of projects over the next few quarters and showing the marketplace why they should be valued a better price/NAV metric, more in line with peers that have even smaller production profiles
 
If you have any questions for Ryan regarding Calibre Mining, then please email us at Fleck@kereport.com or  Shad@kereport.com.
 
In full disclosure Shad is a shareholder of Calibre Mining at the time of this recording.
 
Click here to see the Calibre Mining news section