The KE Report

Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us to discuss his investing outlook across multiple resource and general equity sectors in the current macroeconomic and geopolitical environment. He shares how he is managing his portfolio as it relates to gold, silver, PM stocks, copper and copper stocks, critical minerals stocks, space stocks, and defense stocks.
 
The conversation kicks off around the strong recovery move higher in the precious metals sector, breaking up through overhead resistance and changing the tone and sentiment in the sector.  
Sean shares his outlook on what fundamentals are driving gold, silver, and the PM stocks up so suddenly.
He is cautious that short-term economic data could trigger a retracement back lower, but also shares the reasons why he believes this move in the precious metals complex could have legs for the some time.
He has been constructive on the upcoming Q2 earnings which has paid off over the last couple weeks, where producer margins, revenues, and free cash flows were still very robust.
Sean is still mostly animated by revenue-generating gold and silver producers, and cautions investors to be weary of the temptation of many pre-revenue juniors to use this bounce to raise money, diluting current shareholders as they issue more shares.
 
Next we dove into the incredible technical strength this year in copper as an energy metals, but contrasted that against the more tame response overall by the copper stocks.
Sean provided some compelling stats for copper demand across many sectors, and contrasted that against the supply deficit from copper miners as an opportunity for investors to pay close attention to.
 
With regards to the critical minerals stocks, we have seen a solid bounce over the last couple weeks, in tandem with the other metals, pondering if this is all part of a huge metals melt-up move.
Sean points out the geopolitical factors and supply chain constraints that are underpinning the continued interest and attractive fundamental backdrop across a range of critical minerals.
We also discuss the significance of the US government continuing to directly support the development of key critical minerals projects and domestic processing.
 
Wrapping up, we touch upon the blast up higher in broad US equities markets from last week and into early this week. 
While there are many areas of the markets doing well and providing opportunity, Sean has remained more animated by the recent rebound in the space economy stocks, as well as the traditional and next generation defense stocks.
 
 
Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends
.
Click here to learn more about Resource Trader
 
  
 
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.
 
 

In today’s Daily Editorial, we welcome back Dave Erfle, founder and editor of The Junior Miner Junky, to analyze the recent dramatic surge in precious metals and mining stocks.
Mining Stocks Outperform Metals: Dave Breaks down the explosive 20%+ moves in precious metals ETFs ($GDX, $GDXJ,$SIL) and explains why mining equities are leveraging gold and silver’s underlying price movement.
Technical Breakouts & Key Resistance: Discover the chart patterns driving this rally, including bullish falling wedge breakouts, critical 18-week moving averages, and the significance of technical daily gaps.
Macro Drivers & Inflation Outlook: Hear how weak employment data, lingering inflation, and stagflationary risks are setting up a favorable long-term environment for gold and silver.
Disciplined Buying Strategies: Learn practical portfolio management advice on buying in tranches, avoiding FOMO, and capitalizing on market volatility without chasing overextended rallies.
 
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.com/
 
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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 or investment product. Investing in equities, commodities, really everything 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.

In this Company Update, I chat with Charles Funk, President and CEO of Heliostar Metals (TSX.V: HSTR | OTCQX: HSTXF | FRA: RGG1). Charles shares key takeaways from the company's Q2 financial and operating results, outlining how Heliostar continues to drive growth and execute on its operational roadmap across its core assets.
Key discussion points:
Q2 Financial and Production Performance: An overview of record gold and silver production alongside revenue growth and cash generation during the quarter.
Cost Controls vs. Industry Inflation: Insights into cash costs and all-in sustaining costs (AISC), comparing Heliostar's performance against broader gold sector peers.
Silver Production and Revenue Lag: An overview of the increase in silver production and how timing shifts in smelter payment terms impact sales realization.
Balance Sheet Strength and Capital Allocation: A look at the company's $43M cash position, debt-free capital structure, and reinvestment into growth opportunities.
Development Assets and Growth Roadmap: Updates on key exploration and development targets, including the timeline for the Ana Paula feasibility study and future mine expansions.
 
Please email me at Fleck@kereport.com with any follow up questions for the team at Heliostar Metals. 
 
Click here to visit the Heliostar Metals website to learn more about the Company - https://www.heliostarmetals.com/
 
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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 or investment product. Investing in equities, commodities, really everything 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.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in 3 junior gold and copper exploration stocks, that have put out compelling news in the recent past and that have key alpha growth catalysts on tap in the medium-term.
 
The companies we discussed in the interview are:
 
BCM Resources Corporation (TSXV: B) – On August 6th the Company announced that diamond drill hole TK20, currently in progress, has encountered over 550 m of strongly mineralized porphyry and intercalated skarn mineralization at its 100% controlled Thompson Knolls project, Utah. Hole TK20 is a vertical drill hole collared 208 m northeast of discovery hole TK8 that intercepted 510 ft (155.4 m) of mineralized skarn grading 0.66% Cu, 0.12 gpt Au, and 7.4 gpt Ag (please refer to a Company news release dated May 24, 2023 for more information). Drilling of TK20, currently at a depth of 4,062 ft (1,238.4 m), is ongoing in mineralized rock. 
 
PJX Resources Inc. (TSX.V: PJX) (OTC: PJXRF) – On July 23, 2026 the Company announced the close of the second tranche of their non-brokered private placement for gross proceeds of $6.3 million. This financing will allow PJX to focus on two priority discovery opportunities for critical metals and gold in an established Canadian mining district. An initial 4,000 m drill program has commenced to test for a potential Sullivan-style Sedimentary Exhalative (Sedex) critical-metals discovery on the Dewdney Trail Property. At the Zinger Property, prospecting, mapping and surface sampling for gold are underway at the Gar target in advance of receiving permits to drill a potential Reduced Intrusion Related Gold System (RIRGS) for the first time.
 
Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF) – On Aug. 10, the Company reported assay results that confirm the expansion of the Golden Gate Zone to the Northeast by 320 meters of the previously known gold mineralization on its 100% owned Golddigger Property Golden Triangle, British Columbia. The Golden Gate Zone remains open laterally and at depth.
 
Dr. Quinton Hennigh, Advisor to Goliath and Strategic Investor commented: “When I spoke with the Company prior to this drill season, they made it abundantly clear that a considerable number of the planned drill holes would test extensions of various lode systems at the Surebet Discovery. Given that there remains exceptional opportunity to grow the systems high-grade gold footprint, I was delighted to hear this. We are now seeing the impact of this strategic decision. Drill hole GD-26-420 encountered a 6.51 g/t AuEq over 5.73 meters across the Golden Gate lode in a position 320 meters northeast of its previous limit. I believe we will continue to see many further drill extensions over the course of the rest of the 2026 and the Surebet Discovery is only going to keep on growing with every drill program.”
 
Mr. Roger Rosmus, Founder & CEO of Goliath states: “Our team is performing like a well-oiled machine. The goal of this 2026 drilling campaign is expansion and the directional drilling being utilized is paying off with the step outs being successful. The 320-meter step out of Golden Gate to the northeast is one example and nice surprise along the way. It is worth noting the amount of visible gold to the naked eye in the drill holes since we started drilling the Surebet discovery is unique, as well high-grade gold systems are not known to have such large footprints. After over 400+ drill holes have been completed to date the system remains open laterally and at depth. Grass roots high-grade gold systems tend to get challenging to grow them. But Surebet discovery is the opposite, we are challenging the geology and having no problems growing the system with aggressive step outs. The cadence of drill holes getting to the lab for assays is ideal, and we hope to have plenty more assay results throughout the rest of the year and into 2027.”
 
Click here to follow Erik’s analysis over at The Hedgeless Horseman website
 
* In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and they may also be site sponsors of The Hedgeless Horseman website at the time of this recording.
 
 
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.
 
 

Maura Kolb, President of Dryden Gold Corp (TSX.V: DRY) (OTCQX: DRYGF), joins us for a comprehensive exploration update at numerous areas of focus across their Dryden Gold District, in Northwestern Ontario, Canada.  We touch upon some of the recent news releases returning more high-grade and disseminated gold drill results at the Elora-Jubilee and Big Master along new parallel trends, the upcoming drilling at Mud Lake, a new land acquisition expanding the Gold Rock Camp trend, and various teams working on more ground truthing and surface exploration on the Hyndman and Sherridon regional targets.
 
We start off discussing how this year’s expanded 45,000-meter drill program is continuing to build up the high-grade results from last year’s drill program, confirming the thesis around the 3 geological deformation faults and folds at the Elora-Jubilee and Big Master trends at the Gold Rock Camp. There are now up to 15 parallel structures that have been delineated along this trend, and more recent results showing the geological model getting more refined.
 
On July 29th the Company announced recent drill results that confirm the discovery of two new gold-bearing structures at Gold Rock. A new high-grade mineralized structure between Elora and the Big Master gold systems, which was intercepted at 250-500 meters true depth being dubbed "Elora 2". Like the multiple mineralized hanging wall structures, this new structure has no surface expression. The mineralization is comparable to the brecciated quartz veining found at Big Master. The consistency of the structural setting and mineralization, along strike and at depth, supports the interpretation that this represents a significant mineralized corridor and not merely another hanging wall structure. A second structure was discovered in a single drill hole at the historic Paymaster target. Deeper down-plunge testing is about to commence with a second drill rig will be deployed to continue to fully define the structural controls and high-grade gold footprint at Gold Rock.
 
We expanded the conversation to review the potential for similar look-alike types of deposits to exist along the multi-kilometer Gold Rock mineralized trend, in a “string-of-pearls” thesis.  On July 16th, the Company announced having received the permits to drill the Mud Lake area to test extension targets identified through its 2025 drill program and geological mapping. Surface samples collected on a high-grade shear zone similar to Elora, where a significant fold in the mineralized structure occurs, assayed 93.00 g/t gold. There is also another new area of interest that could be a look-alike zone to the Southwest of the Elora-Jubilee system along this large trend in the Gold Rock Camp.
 
On July 6th the Company announced that is has entered into an option agreement to acquire 100% ownership of 123 tenured mineral claims known as the Lost Lake Property from Orebot Inc, an arm’s length party. Lost Lake is strategically located in the historic Gold Rock Mining Camp and is surrounded by the Company’s existing claims.
 
We touch upon the initial groundwork and drilling at the Hyndman regional area, with a lot of follow up work underway based on the exploration results released back on April 21st.   Maura reiterated the importance of the large soil sampling and channel sampling programs across their district-scale land package, and how it will inform follow up targeting, when used in concert with geophysical surveys.
 
Click here to follow the latest news from Dryden Gold
 
Click the video below highlighting the evolving geological understanding at Gold Rock:
https://youtu.be/Yp3sVlvUVmI
 
 
If you have any questions for Maura, Trey, or the team at Dryden Gold, then please email them into us at Fleck@kereport.com or  Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Dryden Gold at the time of this recording, and may choose to buy or sell shares at any time.
 
 
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.
 
 

In this Daily Editorial, we explore the critical minerals sector with Howard Klein (Founder & Partner) and Matt Fernley (Partner) at RK Equity, hosts of the Rock Stock YouTube channel. Following a choppy period for commodities, the critical minerals sector is showing signs of a rebound. This discussion covers recent White House policy announcements, billion-dollar funding initiatives, and the long-term investment landscape across key battery and defense metals.
Key Discussion Points:
Critical Mineral Rebound & Market Inflection: Examines how recent liquidations cleared leverage across lithium, rare earths, and base metals, setting up a potential rebound driven by tightening supply and demand dynamics.
US Government Capital Injections: Reviews recent federal funding announcements, including over $2 billion in new commitments toward domestic supply chains, defense applications, and workforce education.
The "Missing Middle" in Processing & Infrastructure: Explores the key processing and cathode manufacturing bottlenecks that remain a central challenge for Western supply chains.
Investment Strategies in a Supercycle: Outlines how investors can evaluate project quality, balance risks across domestic versus foreign jurisdictions, and identify long-term structural opportunities.
 
Stock Symbols Mentioned:
MP Materials (MP)
Albemarle (ALB)
Ivanhoe Mines (IVN)
The Metals Company (TMC)
Lithium Argentina (LAAC)
 
Click the following links to keep up to speed with Howard and Matt: 
RK Equity website - https://rkequity.com/ 
Rock Stock YouTube channel - https://www.youtube.com/watch?v=UchoS9EZvak 
Howard Klein on X @LithiumIonBull - https://x.com/LithiumIonBull
Matt Fernley on X  @matt_fernley - https://x.com/matt_fernley 
 
------------------------
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 or investment product. Investing in equities, commodities, really everything 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.

In this Company Update, we are joined by Simon Dyakowski, President and CEO of Aztec Minerals (TSX-V: AZT, OTCQB: AZZTF), to review recent high-grade drill results from the new North Extension Zone at the Tombstone Project in Arizona.
North Extension Zone Drilling Success: Simon details the initial drill results from the newly acquired North Extension Zone, highlighting significant high-grade gold-equivalent intercepts and what this means for project expansion.
Pending Lab Assays & Exploration Pace: Learn about the 11 completed drill holes currently pending laboratory results, covering an extensive potential strike extension.
Gold-Silver Mineralization Mix: An overview of the property-wide commodity distribution, balancing high-leverage gold targets with strong silver potential across various zones.
Upcoming Catalysts & Maiden Resource Estimate: Insight into the timeline for the upcoming Maiden Resource Estimate (MRE) expected in early Q4, along with updates on ongoing metallurgical testing and extended drilling plans.
 
Please email me any questions you have for Simon. My email address is Fleck@kereport.com. 
 
Click here to visit the Aztec Minerals website - https://aztecminerals.com/
 
----------------------
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 or investment product. Investing in equities, commodities, really everything 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.

In this Company Update, Wendall Zerb, Chairman and CEO of Red Canyon Resources (CSE: REDC / OTCQB: REDRF), joins us to discuss the latest exploration developments across the company's mineral portfolio.
Osiris Drilling & Expansion: An update on the 2,100-meter drilling program completed at the Camp target and plans to expand the land package around the Osiris Project.
High-Priority Targets: A look into upcoming drill plans for the Nautilus Prime and EV targets, including key geophysical signatures and geological potential.
Portfolio Pipeline: Insights into ongoing exploration work across secondary assets, including the Kendal project in British Columbia and Scraper Springs in Nevada.
Capital Position & Partnership Strategy: An overview of the company's current treasury, institutional backing, and perspective on potential strategic joint-venture partnerships.
 
If you have any follow up questions for Wendell please me at Fleck@kereport.com. 
 
Click here to visit the Red Canyon website - https://www.redcanyonresources.com 
 
-------------------------------
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 or investment product. Investing in equities, commodities, really everything 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.

Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSX.V: SCZ) (NASDAQ: SCZM) (FSE: 1SZ), joins us for a review of the Q2 2026 production and operational results across their portfolio of 4 producing silver-zinc mines and ore feed sourcing business in Bolivia and Mexico. We also review a few of the key growth initiatives that the company has slated for 2026 across multiple projects.
 
Q2 2026 Production Highlights
 
Primary Production Metrics:
 
Silver: 1,573,100 ounces
Zinc: 23,240 tonnes
Lead: 3,165 tonnes
Copper: 337 tonnes
 
Supplemental Production Metrics:
 
Silver Equivalent Production: 2,814,489 silver equivalent ounces
Zinc Equivalent Production: 59,680 zinc equivalent tonnes
 
Consolidated silver production increased 17% to 1,573,100 ounces in Q2 2026 from 1,341,499 ounces in Q1 2026, with quarter-over-quarter increases at all five operations. Lead production increased 18% to 3,165 tonnes and copper production increased 9% to 337 tonnes. Compared with Q2 2025, consolidated silver production increased 11%, and zinc production increased 10%, on 9% higher consolidated tonnes milled.
 
The improvement was driven primarily by higher processed volumes, with consolidated tonnes milled increasing 7% to 521,956 tonnes, together with higher silver head grades at Bolivar and Porco and a marked improvement in silver recovery at Zimapan.
 
At Bolivar silver production increased 32% quarter-over-quarter to 343,522 ounces, driven by ongoing recovery efforts in the areas affected by the localized flooding event that occurred in May 2025. San Lucas processed 22% more ore than in the prior quarter. Consolidated zinc production increased 7% to 23,240 tonnes, driven principally by higher throughput, which more than offset lower zinc grades at Bolivar and Porco. Porco delivered higher silver and zinc production, driven by stronger silver grades and improved metal recoveries, while Caballo Blanco continued to make steady, meaningful contributions.
 
At Zimapan, operations rebounded from the temporary constraints experienced during the first quarter, including limited ventilation in the higher-grade zones at Level 960 due to a contractor delay in completing the ventilation Robbins incline shaft, as well as repeated power interruptions caused by the local service provider’s maintenance of the power grid. As a result, metal recoveries improved across all four payable metals.
 
Next we transitioned to future growth, where the operations team is advancing their silver-dominant Soracaya mine towards development and near-term production. There is already a decline ramp into this project with initial stope access in 2 areas, and the plan once the permit is received in Q3 is to get this mine into initial ramp-up production by Q4 of 2026.
 
Wrapping up, we discussed the potential for future accretive acquisitions in the Americas.  The board and management team are open to a currently producing mine or development-stage underground mining assets, but only if the acquisition would be accretive for shareholders and if their team can unlock value in these acquired assets.
 
 
If you have any follow up questions for Arturo regarding Santacruz Silver, then please email those to us at Fleck@kereport.com or Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Santacruz Silver 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 Santacruz Silver
 
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.
 
 

As financial markets navigate shifting macroeconomic signals, this episode brings together Brien Lundin and Marc Chandler to analyze the forces driving current precious metals price action and major bond market interventions. Together, they break down the recent rebound across precious and base metals, assess changing Federal Reserve rate expectations, and clarify the broader implications of global currency dynamics and central bank interventions. 
 
Segment 1 & 2 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, kicks off the show to discuss the strong rebound and underlying drivers in precious metals. He highlights how market perceptions of Federal Reserve rate policy are shifting in favor of metals, discusses the strong upside potential and valuation disconnects in both major and junior mining equities, and notes that copper is well-positioned for continued strength driven by demand from data centers and the AI sector. 
Click here to learn more about the New Orleans Investment Conference on October 28-31. - https://neworleansconference.com/korelin/
 
Segment 3 & 4 - Marc Chandler, Chief Market Strategist at Bannockburn Capital Markets and editor of the Marc to Market website, joins us to discuss key developments in global currency, interest rate, and commodity markets. Marc shares insights on central bank interventions involving the Japanese Yen and US Dollar, the impact of recent US labor data on Federal Reserve policy expectations, the driving forces behind gold's price movements, and upcoming economic catalysts like the US CPI report. 
Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/
 
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!
 
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 or investment product. Investing in equities, commodities, really everything 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.