The KE Report

Forum Energy Metals – Next Batch Of 2024 Drill Results Released Stepping Out And Expanding the Mineralized Footprint At The Tatiggaq Deposit

Dr. Rebecca Hunter, VP of Exploration at Forum Energy Metals (TSX.V:FMC – OTCQB:FDCFF), joins me to unpack the next batch of 8 more drill holes released from the 2024 exploration program to the market on January 13th, stepping out from the Tatiggaq deposit on their 100% owned Aberdeen Uranium Project in Nunavut, Canada. This compliments and expands the prior release of 11 holes drilled into the Tatiggaq Main and Tatiggaq West areas in last year’s drill program.  We also review the upcoming holes still to release from last year’s exploration program from highly prospective regional targets, like Qavvik, Ned, Ayra, and Loki.  There are still 11 of the 30 holes from the 2024 exploration program yet to release to the market.
 
Rebecca outlines that these eight drill holes for the Tatiggaq anomaly were designed to test sub-parallel structures within the Tatiggaq gravity anomaly at significant step out intervals, demonstrating the large- scale potential of the project with the identification of a potential new zone 300 meters north of the Main Tatiggaq deposit.  Drillhole TAT24-021 intersected 0.79% U3O8 over 0.1 m in a strong alteration zone with significant geochemical pathfinder elements at a depth of 221 meters.  This mineralized structure is along the D-Fault, where the Tatiggaq Main and West are along the C-Fault. She points out that there are even further potential sub-parallel structures of interest at the E-Fault and A-Fault. 
 
Next, we discuss how the 2 prior year’s drill results will likely be combined with relogging of historic drill holes completed by Cameco working towards the delineation of a Maiden Resource Estimate at Tatiggaq in the future. This mineralization in the basement hosted rock is similar in nature to the 133 million pound Kiggavik uranium project held by Orano/Denison/UEC, located about five kilometers to the west of the Tatiggaq deposit.
 
We wrap up discussing some of the other regional targets like the basement-hosted Qavvik deposit, where a couple of holes were drilled last year, expanding the knowledge around this areas that also received around 2 dozen historic holes by Cameco.  Those results are still pending release. Additionally, there are drill holes still to release from the Ned, Ayra, and Loki targets, with the goal of testing and exploring for the higher-grade unconformity style of deposits; similar to what is found in the Athabasca Basin.
 
If you have any follow up questions for Rebecca or the team at Forum Energy Metals, then please email them into me at Shad@kereport.com.
 
Click here to follow along with the most recent news from Forum Energy Metals

Graphene Manufacturing Group - Answering Your Questions On Battery Advancements, SuperG, THERMAL-XR, and Graphene Production

Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF) joins me to answer a wide range of questions all sent to me by you, our listeners! Please keep the questions coming by emailing me at Fleck@kereport.com. 
 
Craig discusses the testing and market integration of the Company's SuperG product for lithium-ion batteries, offering insights into its economic production and expected benefits on battery performance and longevity. 
 
Additionally, we cover the progress and potential of the THERMAL-XR product, which includes application on various materials and the ongoing EPA testing in the U.S. 
 
We also explore the scalability of GMG's graphene production and the company's active collaborations with multiple large companies. 
 
Finally, Craig offers insights into future news and developments expected from GMG, including updates on battery tests, lubricant data, and potential patent advancements.
 
Click here to visit the GMG website to learn more about the Company.

Dryden Gold – 2024 Recap and Looking Ahead To 2025 Work Initiatives At The Elora, Big Master, Mud Lake, Mosher Bay, Sherridon, And Hyndman Areas

Trey Wasser, CEO and Director of Dryden Gold Corp (TSX.V: DRY) (OTC: DRYGF), joins me to recap the key milestones and results from 2024, and to look ahead to the work initiatives at the Elora, Big Master, Mud Lake, and Mosher Bay Areas of the Gold Rock Camp, plus ongoing work programs at both the Sherridon, and Hyndman areas across their Dryden Gold District, in Northwestern Ontario, Canada.  
 
We start off discussing the success the Company had in 2024 in the capital markets with a few upsized raises, funding them for their move forward work planned in early 2025, and also bringing in Centerra Gold as a key strategic shareholder. This demonstrated that there is demand for funding their project and that they have access to capital in an environment that was challenging to many other junior resource companies. 
 
Next we discussed some of the near-surface high-grade drill results in the Gold Rock Camp from the Elora Gold System and Big Master areas.  Elora saw a number of good intercepts like 8.93 g/t gold over 12.45 meters including 32.96 g/t gold over 2.73 meters in the deepest drill hole to date, or another hole with assays showing 14.10 g/t gold over 7.54 meters. Then hole KW-24-017 returned 30.72 g/t gold over 5.70 meters, including its highest-ever value of 313.00 g/t over 0.55 meters.  One of the notable Big Master intercepts was 26.11 g/t gold over 3.16 meters. Trey describes some of ongoing work and targets tested at both Big Master 1 and 2, and multiple targets that they will be testing along the Elora Gold trend once they receive the permits to move the drill pads up closer to the veins.  This vantage point for drilling will also allow the exploration team to drill much deeper holes, which is important since this whole area is very similar to the deep Red Lake mineralization geologically.
 
We then took a look at some of the other regional targets on the Gold Rock Camp land package  like Mud Lake and Mosher Bay that the team is looking forward to doing more mapping, sampling, and targeting on for 2025.   Additionally, we widened the scope to discuss 2 other key areas of exploration focus on their district-scale land package, with surveys and field work vectoring on future drill targets at both the Sherridon and Hyndman areas of the Project.
 
If you have any questions for Trey regarding Dryden Gold, then please email me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Dryden Gold at the time of this recording.
 
Click here to follow the latest news from Dryden Gold

Heliostar Metals - Overview Of The Technical Reports On The Mines And Development Projects In Mexico

Charles Funk, President and CEO of Heliostar Metals (TSX.V:HSTR - OTCQX:HSTXF - FRA: RGG1) joins me to recap the January 14th news release outlining technical reports, resource and reserve updates and Company plans to move all three (3) of the projects forward. The projects are La Colorada, San Agustin and San Antonio. 
 
Charles outlines the economic outlook, including project economics, resource estimates, capital requirements, and production guidance in general and for individual projects. He discusses the company's financial health, emphasizing cash flow generation and minimal capital expenditure for immediate gains all tied into my question regarding if the Company will need to go back to market to fund any of these plans. 
 
We also discuss the permitting landscape in Mexico, crucial for project advancement. Finally, Charles shares upcoming news milestones and provides strategic insights aimed at making Heliostar Metals a mid-tier gold producer.
 
Please email me at Fleck@kereport.com with any follow up questions for Charles. 
 
Click here to visit the Heliostar Metals website and read over the full news release we discussed.
 

Goliath Resources – Best High-Grade Gold Intercept Returned From The Surebet And Bonanza Zones Returning 34.52 g/t AuEq Over 39 Meters, Including 132.93 g/t AuEq Over 10 Meters

Roger Rosmus, Founder, CEO, & Director of Goliath Resources (TSX.V: GOT) (OTCQB: GOTRF), joins me to review the latest batch of 4 more high-grade gold assay results returned from the Surebet and Bonanza Zones at the Surebet Discovery in the Golden Triangle of British Columbia.
 
GD-24-260 intercepted the highest concentration of visible gold and its best high-grade gold drill hole to date at the Surebet Discovery from the Bonanza High-Grade Gold Zone that sits ~200 meters above the valley floor level.
Bonanza Zone: 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters.
Surebet Zone: 5.51 g/t AuEq (5.39 g/t Au and 9.82 g/t Ag) over 3.40 meters within 2.96 g/t AuEq (2.89 g/t Au and 5.46 g/t Ag) over 6.35 meters.
 
GD-24-275 intercepted two separate stacked veins of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia; both remain wide open:
Surebet Zone: 5.00 g/t AuEq (4.88 g/t Au and 9.94 g/t Ag) over 6.00 meters, including 6.67 g/t AuEq (6.60 g/t Au and 13.07 g/t Ag) over 4.42 meters.
Bonanza Zone: 12.01 g/t AuEq (11.70 g/t Au and 25.66 g/t Ag) over 11.00 meters including 16.48 g/t AuEq (16.05 g/t Au and 35.03 g/t Ag) over 8.00 meters.
 
Drill holes GD-24-252 and GD-24-242 also incepted high-grade gold mineralization over mineable widths in the Surebet, Bonanza, and Golden Gate zones.
 
We discuss what the team is learning by continuing to expand both areas, of high-grade mineralization, the importance of the mineable average widths and grades, and that the 2024 drill program has essentially doubled the mineralized area of the Bonanza High-Grade Gold Zone from an area 180,000 m2 (720 x 612 x 410 meter triangular area) to 341,000 m2 (835 x 685 x 612 x 410 meter polygon area) that remains wide open.
 
Assays are still pending on 89 of 105 holes (85%): 50 drilled in 2024 (42 have visible and/or abundant visible gold including coarse-grained visible gold), 13 drilled into the Reduced Intrusive Dykes 2021-2023 (6 have visible and/or abundant visible gold), 14 relogged shoulders 2021 – 2023 (3 have visible and/or abundant visible gold) and 12 drilled into volcanogenic massive sulphide (VMS) style mineralization at our newly discovered Treasure Island, 40 km to the north of the Surebet system.
 
If you have any questions for Roger about Goliath Resources, then please email me at Shad@kereport.com and then we’ll get those answered or covered in a future interviews.
 
In full disclosure, Shad is a shareholder of Goliath Resources at the time of this recording.
 
Click here to follow the latest news from Goliath Resources

Jeff Christian - Gold and USD Strength, Understanding The “Silver Stock-Out”

Jeff Christian, Managing Partner at the CPM Group joins us to discuss the strength in the USD and stability of the gold and silver prices, as well as the concept of a silver stock-out. 
 
We start by analyzing the persistent rise of the US dollar since October, noting its impact—or lack thereof—on the prices of gold and silver. Contrary to popular belief that gold and silver inversely correlate with the dollar, Jeff explains that their positive performance is driven by investor demand spurred by global economic and political uncertainties. The discussion also highlights significant buying patterns by central banks and institutional investors, with insights on how these actors influence gold prices and how their behavior might evolve through 2025.
 
Shifting focus to silver, Jeff discusses its growing allure among retail investors, especially those who find gold prices too prohibitive. He also explains the concept of a 'silver deficit,' distinguishing between investment and fabrication demand, and touches upon the increasing market interest in silver coins. Additionally, the discussion sheds light on the so-called 'silver stock out'—a term recently coined to describe temporary supply tightness between the London and New York markets due to arbitrage opportunities.
 
Click here to visit the CPM Group website to learn more about the firm.

Aztec Mineral - Tombstone Drill Results: Expanding Gold Mineralization At The Contention Main Zone, 1.02 g/t AuEq over 88.1m, including 5.93 g/t AuEq over 9.2m

Simon Dyakowski, President and CEO of Aztec Minerals (TSX.V:AZT - OTCQB:AZZTF) joins me to recap the latest round of drill results from the Tombstone Project in Arizona. Reference the drill plan map below to see where the 3 drill holes are located on the Project within the Contention Main Zone.
 
We start with a recap of the 3 holes within the news release with a focus on Hole 10, which intersected a high-grade zone of 9.2 meters of 5.93 g/t gold equivalent. We also discussed hole 7 which was a 65 meter step out to the west of the Contention Main Zone and further confirmed the Company’s thesis that gold mineralization continues in that direction. 
 
Simon details the consistency of the mineralization and explains why it's not yet time to release a resource estimate. We conclude with insights into upcoming results from the Westside and South Extension areas.
 
Please email me any questions you have for Simon. My email address is Fleck@kereport.com. 
 
Click here to visit the Aztec Minerals website.

Darrell Fletcher - Commodities 2024 Recap and 2025 Outlook; Precious Metals, Base Metals, Oil, Nat Gas, Ferrous Metals

Darrell Fletcher, Managing Director Commodities at Bannockburn Capital Markets joins me to recap commodity moves in 2024 and his outlook for 2025. 
 
Key topics include performance analysis and future outlooks for major commodities such as natural gas, precious metals, base metals, oil, and more. Darrell highlights the impact of global factors like Chinese demand, weather volatility, inflation trends, and the geopolitical landscape on these markets. 
 
We delve into specific commodities' performance trends, including strong starts for natural gas and crude oil in 2025 and the ongoing challenges for ferrous metals. Darrell also shares insights into how upcoming U.S. administration policies and trade tariffs could influence market volatility and investor confidence as well as the strong US Dollar to start the year.
 
Click here to learn more about Bannockburn Capital Markets. 

John Rubino – 2025 Outlook On Geopolitics, US And Global Macroeconomics, Interest Rates, US Dollar, Oil, Nat Gas, Gold, And Uranium

John Rubino, [Follow John on his Substack https://rubino.substack.com/],  joins me to provide his 2025 outlook on geopolitics, both US and global macroeconomics, along with his expectations on interest rates, the US dollar, oil, natural gas, gold, and uranium.
 
We start off discussing some of the potential implications of the policies from the new incoming Trump administration, and what it means for inflation, the deficit, consumer spending, tariffs, and global trade.  John points out that we really need to wait and see what policies actually get implemented versus the many ideas that have already been floated out into the media.   We also look at how this plays into Fed policy, interest rates, the US dollar, and other global fiat currencies.
 
Next we shift over to why gold and even the commodities sector should do well, even in the face of a strong apparent US dollar index, when viewing it through the lens of decreasing real purchasing power, and the persistent affects of inflationary forces.   This leads into a discussion on energy and the rising oil and natural gas prices, and how that will affect US markets and global markets, as well as related energy stocks.  John also outlines why he remains bullish on both uranium stocks and gold and silver stocks in the year to come, even if we see an overall equities wash out at one point.   He’ll be viewing any such market sell downs as an opportunity to pick up some of the better quality resource stocks for the longer-term fundamentals he expects to unfold.
 
Click here to visit John’s Substack to keep up to date on his market and economic commentary.

Erik Wetterling – Value Proposition In Goliath Resources, Amex Exploration, And Osisko Development

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to discuss three junior gold resource companies that have released important news catalysts in early 2025, where he is attracted to their current value proposition.
 
We start off discussing the high-grade gold intercept over a wide width that Goliath Resources Ltd (TSX-V: GOT) (OTCQB: GOTRF) released to the market this morning.  In drill hole# GD-24-260 it intercepted the highest concentration of visible gold and the best high-grade gold drill hole to date at the Surebet Discovery down in the Bonanza Zone, returning 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters.
 
Next we pivot over to news released on January 9, 2025 from Amex Exploration Inc. (TSXV: AMX) (OTCQX: AMXEF) that recent drilling has continued to expand the footprint of multiple zones at its flagship Perron Project, located in northwestern Abitibi, Quebec. New exploration results were released from the Denise Zone, E2 Zone, Grey Cat Zone, Gratien Zone, and JT Zone. These high-grade intercepts, have all shown metal factors significantly above this PEA threshold, and the management team released statements indicating that these intercepts will contribute additional ounces to the mine plan.
 
Wrapping up we got Erik’s thoughts on why he is animated by the longer-term value proposition at Osisko Development Corp. (NYSE: ODV, TSXV: ODV) where on Jan. 09, 2025 they announced the appointment of David Rouleau as Vice President, Project Development. This appointment aligns with the Company's strategic focus on building an operations-driven team to advance its flagship 100%-owned Cariboo Gold Project located in central British Columbia, Canada.  Erik expands on the potential to go from their Phase 1 to Phase 2 development plans over the next few years, increasing throughput and ounces produced once a construction decision is made, and that he sees the project to be of significant size in a tier 1 jurisdiction to rerate higher over time.
 
* In full disclosure, the 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.  Additionally, Shad holds a position in both Goliath Resources and Amex Exploration at the time of this recording.
 
Click here to visit Erik’s site – The Hedgeless Horseman