The KE Report

Sitka Gold - 2024 Drill Results Summary: Expanding The Blackjack Deposit, 2 New Zones Drilled

Mike Burke, Director and VP of Corporate Development at Sitka Gold (TSX.V:SIG - OTCQB:SITKF - FRE:1RF) joins me to recap the 2024 drill results at the R.C. Gold Project in the Yukon. The focus of the over 9,000 meter drill program was focused on expanding the Blackjack deposit and testing the Rhosgobel and Pukelman intrusions. 
 
We also look ahead the Company’s overall exploration strategy for 2025. With a funded 30,000-meter drill program and more targets to drill, Sitka aims to further expand their mineralized zones and uncover new high-grade resources.
 
If you have any follow up questions for Mike please email me at Fleck@kereport.com. 
 
Click here visit the Sitka Gold website to learn more about the Company.

Sean Brodrick – Good Setups In Gold, Silver, And Uranium Stocks - Opportunities Amidst The Coming Volatility In 2025

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins me to look at the constructive setup that he sees in gold, silver, and uranium producers and near-term producers, as well as the investing themes he believes will do well in 2025 on the back of the new Trump administration economic and trade policies.
 
We start off discussing the opportunities in gold and silver equities based on the continued higher underlying metals prices contrasted against low investor sentiment in the PM equities.   We discuss the potential for Q4 earnings numbers that will be released in about a month to be a potential catalyst to get more momentum going forward in the sector.  With regards to the uranium stocks, we discuss a number of supply constraints coming out of U308 production globally, and that the US producers look to be one of the bright spots.  We also review the development-stage projects with a pathway towards production up in the Athabasca Basin of Canada as another area of focus.
 
With regards to the US equities, he sees the themes of deregulation playing into the hands of the financial sector and the oil, natural gas, and energy sectors. However, he is concerned with the potential volatility that the plan for too many tariffs and potential trade wars with other countries may create as this year unfolds.
 
Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends
 
Click here to learn more about Resource Trader

Vizsla Silver - Updated Resource Estimate At Panuco

Mike Konnert, President and CEO of Vizsla Silver (TSX.V:VZLA - NYSE:VZLA) joins me to discuss the updated mineral resource estimate at the Panuco Project. 
 
Mike discusses the significant upgrade in measured and indicated (“M&I”) ounces—a pivotal step toward production, marking it as the fourth substantial resource update in four years. He elaborates on the improved grades and the continuity of veins, particularly the Copala vein, which is the high-grade and high-margin mining plan backbone. Mike also touches on other promising veins like La Luisa and outlines the Company's exploration strategies, including a 10,000 meter drilling campaign and possible new discoveries. 
 
In addition, updates on the ongoing test mining and bulk sample program are provided, emphasizing the approach to de-risking the project and preparing for a transition to production. We conclude with insights into Vizsla's strong financial position, with over $120 million Canadian and key catalysts for 2025
 
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.

Silver Tiger Metals – 2024 Milestones, Resource Update and PFS For El Tigre Open Pit - 2025 Focus Shifting Exploration Deeper, Building Towards Underground Mining PEA

Glenn Jessome, President and CEO of Silver Tiger Metals (TSX.V:SLVR – OTCQX:SLVTF), joins me to recap the key milestones from 2024, and to look ahead to all the work initiatives and company and sector catalysts on tap for 2025, at the El Tigre Silver-Gold Project in Mexico.
 
We start off with a brief review the key takeaways from the updated Resource Estimate and Pre-Feasibility Study (PFS) on the open-pit that were released to the market in 2024 as key company milestones. There has been a lot of drilling done to move categories from inferred into indicated, as well as metallurgical testing, preliminary engineering work, permitting, and social licensing.
  
Then we shift gears into the deeper drilling, from underground, that commenced at the end of last year and will be continuing into the first half of this year; testing the high-grade silver veins, sulphide zones, and shale areas, continuing to mass up underground resources.  The strategy is then compile that data with other ongoing derisking work into the  Preliminary Economic Assessment (PEA) out on the underground mining second phase out in the first half of 2025. There is going to be a steady stream of newsflow emanating from the Company over the next few months with regards to both exploration and development.
 
We also expand the conversation to touch upon the political change in administrations in Mexico in October and what it means for the mining sector.  As underground and open-pit permits start getting granted in Mexico in the first half of 2025, Glenn points out that this permitting visibility will be a very meaningful catalyst for Mexican mining projects across the board to get rerated significantly higher. Glenn is also getting financial term-sheets in place to hit the ground running, once they receive their permit, and they can get the open-pit mine constructed and producing roughly 18 months after getting the green light to move ahead.   
 
If you have any follow up questions for Glenn about Silver Tiger, then please email me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Silver Metals at the time of this recording.
 
Click here to follow the latest news from Silver Tiger Metals

Snowline Gold - 2024 Highlights

Scott Berdahl, CEO of Snowline Gold (TSX.V:SGD - OTCQB:SNWGF) joins me to recap the highlights from 2024. 
 
Scott outlines Snowline's initial mineral resource estimate at the Valley Deposit, with over 7 million ounces in indicated and inferred categories. The discussion also includes operational achievements, such as completing over 35,000 meters of drilling, and receiving an environmental stewardship award. Scott further addresses the importance of community involvement, especially in the Yukon. Financial strength and institutional ownership are also discussed, with Snowline ending 2024 with over C$42 million in the treasury. 
 
Looking ahead to this year, plans include an updated resource estimate and continued drilling.
 
If you have any follow up questions for Scott please email me at Fleck@kereport.com.
 
Click here to visit the Snowline Gold website to read over the recent news and learn more about the Company.

Weekend Show - Rick Bensignor & Mike Larson - Investment Themes & Trends That Will Dominate 2025

 
Welcome to the first KE Report Weekend Show of 2025! We kick off this year with a couple generalists outlining the key themes they see for 2025. 
 
We hope you all had a great holiday season, merry Christmas and happy New Year. 
 
Segment 1 & 2 - Rick Bensignor, President of Bensignor Investment Strategies kicks off the first Weekend Show of 2025 reflecting on 2024's market trends, notably the dominance of the MAG 7 stocks, and discusses key investment themes and strategies for 2025. Topics include sector rotation, the potential for higher interest rates and the Dollar, and the implications for stocks, bonds, currencies, and commodities.
Click here to visit the In The Know Trader website.
Segment 3 & 4 - Mike Larson, Editor in Chief at MoneyShow, wraps up the first Weekend Show of 2025 discussing themes and predictions for 2025. The discussion covers key topics, including a recap of 2024 market performance, Fed monetary policy, central bank strategies, global stock trends, cryptocurrency trends, and the potential impact of political policies under the Trump administration. The conversation also delves into sector-specific expectations, particularly precious metals, financials, and commodities
Click here to find out about the upcoming MoneyShow conferences. 
 

Joel Elconin - So Many Unknowns For 2025: Tech, AI, Commodities, Crypto

Joel Elconin, Co-Host of the PreMarket Prep Show joins us at the start of the year to discuss market trends, sector performances, and predictions for 2025.
 
Joel revisits the lack of a Santa Claus rally and discusses the market's strong performance in 2024. We analyze the start of 2025, holiday impacts, and movements in Apple and Tesla. 
 
We then shift to interest rates, global economic outlooks, and uncertainties regarding Trump’s policies, especially in the healthcare sector. We also touch upon commodities, AI's impact on various markets, and cryptocurrencies. 
 
The next major driver Joel is watching is the upcoming earnings season. Joel also discusses investor sentiment, global market dynamics, and long-term interest rate stability.
 
Click here to visit Joel’s PreMarket Prep website.

Chris Temple – Let’s Do The Math! - US & China Economies, Investing In Nat Gas, Uranium, Gold

Chris Temple, Editor and Publisher of the National Investor, joins us to kick off 2025 with a longer-format discussion on the macroeconomic realities for the US and Chinese economies moving into this year. We also get the rationale behind his favorite 2025 commodity sector investments in natural gas, uranium, and gold, and what he looks for in their related resource stocks. 
 
We start off having Chris unpack his theme for this year of “Let’s do the math,” for cutting through the rhetoric to the realities with regards to national budget spending to keep stimulating economies, global trade, taxes, manufacturing, and mineral extraction domestically and internationally. He touches upon a number of initiatives that the new Trump administration will need to consider to navigate the challenging setup with stickier inflation and even stagflation, the impact of tariffs, and the degree to which any country can actually compete with China with regards to processing and manufacturing of goods.
 
Then we shift over to the commodities, where he is less animated by critical minerals and base metals in the year to come, or even oil, but is most bullish on natural gas, uranium, and gold, and select resource stocks.   With nat gas, we delve into the export capacity of LNG for both the US and Canada, and the large spread in prices in Europe and Asia presenting opportunities.  Shifting to uranium, the many tailwinds behind nuclear energy and demand are contrasted against limited uranium mine supply creating a the best market dynamics in any commodity Chris can name at present. He points to the strength of US producers like Uranium Energy Corp (UEC) that will continue to expand operations and have good leverage to rising prices, but also highlights how there is good risk/reward value propositions in some of the uranium exploration and development stocks. Rounding things out he lays out the pros and cons to look for when separating out quality companies from the large pool of gold stocks.  Christ still sees some intriguing rerating opportunities for the right kinds of gold stocks if they meet specific investing criteria.
 
Click here to follow along with Chris at the National Investor website.

Emerita Resources – More Metallurgical Testing Shows Enhanced Gold Recoveries At La Romanera, Exploration Update At El Cura, and Development Update At The IBW Project

David Gower, CEO and Chairman of Emerita Resources (TSX.V: EMO – OTC: EMOTF), joins me to provide an update on the continued metallurgical testing beyond even the Phase 2, showing enhanced gold recoveries at La Romanera, along with an exploration and development update at El Cura and other derisking work being conducted to advance the polymetallic Iberian West Project (IBW), located in southern Spain.
 
We start by discussing the ongoing metallurgical work completed in the Phase 2 testing at the IBW Project, mostly at the Zinc-Copper-Lead-Silver-Gold La Infanta and Romanera deposits. David shares how their approach has optimizing metal recoveries at both areas using separate copper, lead, and zinc concentrates; but also a new 2 phase system really improves the gold recoveries, which would impact future payables in production scenario at La Romanera which has a higher gold credit.  The company is also still exploring the viability of a 4th arsenopyrite concentrate circuit at Romanera to capture even higher gold values and payable arsenic credit that would report to this concentrate, but the previously mentioned 2-phase process doesn’t require this.   
 
Next we pivoted over to the exploration and development potential at El Cura , which was not part of the Phase 1 or Phase 2 metallurgical study, but is going through it’s own testing at present.  There has also been a continued focus on exploration drilling and expanding the mineralized area so that this 3rd deposit it can be included in the coming updated resource estimate due out in late Q1.  David walks us through how each of these 3 deposit areas plays into the larger development strategy where the earlier stage mining at La Infanta can now drift through El Cura on the way to the development of La Romanera, bringing in El Cura as a future economic driver much earlier in the mining sequence now.  This will be highlighted in a PFS due out later in 2025.
 
We wrap up noting the ongoing exploration work at the earlier-stage Nuevo Tintillo Project, and got an update on where things are in the courts, with 3 months until the sentencing portion of the legal proceedings in their initiative to be awarded the high-grade polymetallic Aznalcóllar Project.
 
If you have any follow up questions for David regarding Emerita Resources, then email those in to me at  Shad@kereport.com.
 
Click here to follow the latest news from Emerita Resources

Mako Mining – Unpacking The Strategy To Acquire The Moss Mine in Arizona, Adding Another Producing Asset To Its Portfolio

Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins me to review the key transaction news out today on December 31st,  where the Company announced entering into of a non-binding letter of intent to acquire 100% of the issued and outstanding common shares of EG Acquisition LLC ("EGA"), a recently created private corporation controlled by Mako's controlling shareholder, Wexford Capital LP, established solely to acquire the Moss gold mine located in the historic Oatman District in Arizona.
 
EGA completed the acquisition of the Moss gold mine on December 31st, 2024 through its acquisition of 100% of the common shares of Golden Vertex Corp. ("GVC") which holds direct ownership of the Moss gold mine. Each of EGA and GVC will become wholly owned subsidiaries of Mako as a result of the Proposed Transaction. The purchase price for the Proposed Transaction is expected to be in the range of US$ 4.9 million up to US$ 6.4 million if certain royalties are extinguished, all payable in cash. The Proposed Transaction is expected to close by February 2025.
 
We review the Company strategy behind this acquisition, which will allow Mako to add another producing asset located in a top tier jurisdiction of Arizona, funded solely out of cash flow generated from the last quarter of Mako's current mining operations. Akiba points out that the Moss mine has been producing gold throughout the Bankruptcy Process through its beneficiation facilities, and that mining was temporarily suspended at the beginning of the Bankruptcy Process.   Mako Mining plans to restart mining operations upon completion of the Proposed Transaction, once it has had an opportunity to optimize the mine plan and debottleneck the crushing plant. This is expected to be achieved within a few months of closing of the Proposed Transaction.
 
Next, we focused on the economic efficiencies with the elimination of over US$ 60 million of existing liabilities associated with the mine,  the removal of the silver stream, and also discussed the status and 2 paths forward for the remaining royalties in place. Additionally, the base purchase price of US$ 4.9 million, can be further reduced by US$ 1.5 million through the release of certain collateral.   Akiba reiterates that this acquisition is a testament to the knowledge base of their management team, the distressed investing expertise of the controlling shareholder Wexford, and the powerful platform Mako has built to continue making accretive acquisitions.
 
Wrapping up Akiba highlights that the when the Moss Mine has been debottlenecked and is producing at the grade and rate they believe is possible that it could almost double their current production profile. Mako currently operates the high-grade San Albino Mine in northern Nicaragua and owns the Eagle Mountain project in Guyana. Akiba points out that with a producing mine in the United States that this should expand their future options for funding the development of the Eagle Mountain project. Over the last quarter, even after an extensive drill program at both properties, the cash and gold in sales receivables balance in Mako has increased by over US$ 6 million to nearly US$ 13 million at year end.
 
Click here to follow the latest news out of Mako Mining.