The KE Report

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

Craig Hemke - 2025 Predictions: Gold and Gold Stocks

Craig Hemke, Editor of TF Metals Report joins us to discuss his 2025 Macrocast where he outlines the factors that will drive gold and gold stocks this year. 
 
We start with the meaning of Craig’s Macrocast title, 'Inversion Reversion', with respect to the yield curve, recession signals, and the impact on precious metals. Craig also discusses the unexpected strength in gold last year driven by central bank buying, particularly from eastern countries. Additional subjects include the challenges posed by increasing U.S. debt and deficits, the Fed's role in providing liquidity, and the intricacies of reverse repurchase agreements. 
 
On the gold stock front, Craig emphasizes the importance of careful stock picking, advising against relying solely on major indices like the GDX.
 
Click here to visit Craig’s website - TF Metals Report

TG Watkins - Technical Analysis & Trading Strategies: Market Pullback, Bitcoin Miners, Nat Gas, Uranium

TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website joins us to share his outlook for this current market pullback, as well as individual sectors like Bitcoin mining stocks, natural gas and uranium.  We delve into the persistent market weakness over the past six to seven weeks, analyze the potential for a market bounce, and touch on key economic reports like PPI and CPI. TG shares insights on managing current market positions, profit-taking strategies, and key levels in the crypto space, including Bitcoin and crypto miners. We also explore trends in nat gas and uranium, emphasizing the significance of moving averages in TG's trading strategy. We kick off with an analysis of the persistent pullback in the broad markets, touching on the daily fluctuations and the six to seven weeks of market weakness. TG explains his expectations for a potential market bounce and highlights key economic indicators like PPI and CPI that could influence market trends. We also dive into TG's strategy for managing current positions, discussing profit-taking on stocks like Tesla and using stop-loss orders effectively.  The discussion then shifts to cryptocurrencies, with a focus on Bitcoin and various crypto miners. TG shares his observations on key levels for Bitcoin and names like MSTR.  We also examine the volatile Nat Gas market, noting trends influenced by weather and key moving averages. TG outlines his cautious but optimistic stance on Nat Gas as it shows signs of potential upward movement.  Next up is the uranium sector, comparing it to the trends seen in Bitcoin and crypto miners.
 
Click here to visit TG’s site - Profit Pilot

Weekend Show - Dave Erfle & Dana Lyons - 2025 Outlook For Metals Investors, Equities and Technical Analysis

Welcome to the KE Report Weekend Show! This Weekend Show is all about investing in resource sector equities, from majors to juniors to the ETFs.
 
Looking past just the GDX or GDXJ, there are a lot of resource stocks, mostly miners but some more advanced developers as well, that are at or near all time highs. The juniors are still lagging and volumes are still relatively low. What does this mean for 2025? It’s a question we focus on a lot this weekend. 
 
We hope you all have a great weekend. If you are in Vancouver next weekend for any of the conferences please reach out and we can meet up at the conference or for a drink. 
 
Segment 1 & 2 - Dave Erfle, Editor of the Junior Miner Junky kicks off the Weekend Show outlining his outlook for resource stocks (mostly precious metals equites) for 2025. We start by discussing the current challenges and opportunities within the resource stocks, particularly the impact of Western investment demand, market corrections, and sector rotations from AI and crypto to undervalued resource stocks. Dave also talks about the importance of company catalysis in investment decisions and the potential for exciting M&A in 2025. The discussion covers themes such as constructing a personalized GDXJ-style portfolio, the expected performance of gold and silver stocks, and the broader economic factors influencing these investments.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
 
Segment 3 & 4 - Dana Lyons, Fund Manager and Editor of The Lyons Share Pro wraps up the show sharing his technical analysis of the major commodities; gold, silver, copper, il and natural gas. Dana also shares insights into the U.S. equity markets, providing both short-term and long-term outlooks based on internal models and historic trends. We also discuss interest rates, the U.S. Dollar, and Bitcoin.
Dana is extending his holiday sale at The Lyons Share Pro. For 20% off please email me at Fleck@kereport.com or Dana directly at dlyons@jlfmi.com. For all you traders it’ll be worth your time to test out his subscription service.

Joel Elconin - Markets Continue To Correct, Earnings Season Kicks Off, Oil & Nat Gas Breaking Out

Joel Elconin, Co-Host of the PreMarket Prep Show joins us to share his outlook on the now 1 month long market correction. Joel makes the comment that the highs from December could not be touched again for a while. 
 
We delve into the recent choppy market actions, highlighting the drop in broad averages since December and the mixed reactions to economic indicators such as the strong job numbers and sticky/rising inflation. He discusses the implications of limited rate cuts and the potential for long-term stable interest rates. 
 
We cover recent earnings results from Walgreens and Delta Airlines, and the potential re-emergence of value stocks. 
 
Commentary on commodities such as crude oil, natural gas, and metals rounds out the discussion, offering insights into their roles as hedges against market volatility. Finally, Joel emphasizes cautious trading strategies and the significance of upcoming earnings reports and guidance as January is historically the time when companies downgrade guidance.
 
Click here to visit Joel’s PreMarket Prep website.

Marc Chandler - Jobs Data Impresses, Rate Cut Expectations Crashing, USD, Yields & Commodities All Outperforming

Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of Marc To Market to discuss today’s strong US jobs data, rate cut expectations falling and the broad strength in the Dollar and commodities. 
 
We delve into how the unexpectedly strong jobs report impacts the Fed’s rate cut expectations, including the potential delay of cuts to the second half of the year. We also touch on the strength and dominance of the U.S. dollar, and rising yields globally. Marc provides his insights on the higher commodity prices amidst a higher U.S. dollar and yields. We conclude with discussions on projections for the upcoming economic data, more on Fed's actions, and the broader implications for the U.S. and global economies through 2025.
 
Click here to visit Marc’s site - Marc To Market.

Jay Martin – The Key Benefits Of Attending The Vancouver Resource Investment Conference January 19-20

Jay Martin, CEO, Cambridge House & Host of the Vancouver Resource Investment Conference, joins us to break down the key benefits of resource investors that will be attending VRIC from January 19-20, 2025 at the Vancouver Convention Centre West.  
 
Jay describes the 3 general major themes of the key note addresses and panels:   Geopolitics, Macroeconomics, and Capital Allocations To The Resource Companies.
 
There will be a number of workshops, panels, and lectures on stage from 85 different economic and geopolitical thought leaders, as well as fund managers and company executives.  Additionally there will be around 250 companies, mostly focused on gold, silver, copper, and uranium exhibiting on the conference floor, for investors to engage directly with management teams and better understand their unique value propositions.
 
Both Cory and I will be attending the VRIC event once again, so shoot us an email if you are going to attend or just find us walking around the conference floor or attending the discussions.
 
This is Your Chance to Get Ahead! Don't miss out on the opportunity to learn, connect, and invest smarter. Seats are filling up fast—secure your spot now and make sure you're on the winning side of the commodities boom!https://cambridgehouse.com/vancouver-resource-investment-conference
 
https://www.eventbrite.com/e/vancouver-resource-investment-conference-2025-tickets-877548389857
 

Goliath Resources – Multiple High-Grade Gold Assays Returned From The Surebet And Bonanza Zones

Roger Rosmus, Founder, CEO, & Director of Goliath Resources (TSX.V: GOT) (OTCQB: GOTRF), joins me to review the latest batch of 5 more high-grade gold assay results returned from the Surebet and Bonanza Zones at the Surebet Discovery in the Golden Triangle of British Columbia.  
 
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 meters) to 341,000 m2 (835 x 685 x 612 x 410 meters) that remains wide open.
 
3 of the Highlight Holes Summary:
 
GD-24-262 collared from Goldsmith Pad intercepted four separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both remain open.
Surebet Zone: 32.67 g/t AuEq or 1.05 oz/t AuEq (32.56 g/t Au and 8.92 g/t Ag) over 4.00 meters including 130.14 g/t Au or 4.18 oz/t AuEq (129.77 g/t Au and 30.25 g/t Ag) over 1.00 meter.
Bonanza Zone 1: 13.34 g/t AuEq (13.11 g/t Au and 18.97 g/t Ag) over 6.00 meters including 15.99 g/t AuEq (15.71 g/t Au and 22.71 g/t Ag) over 5.00 meters and 39.34 g/t AuEq or 1.26 oz/t AuEq (38.67 g/t Au and 54.72 g/t Ag) over 2 meters.
Bonanza Zone 2: 13.90 g/t AuEq (13.85 g/t Au and 3.59 g/t Ag) over 7.60 meters including 33.80 g/t AuEq or 1.09 oz/t AuEq (33.70 g/t Au and 8.21 g/t Ag) over 3.10 meters.
Bonanza Zone 3: 3.15 g/t AuEq (3.08 g/t Au and 5.65g/t Au) over 3.20 meters
 
GD-24-273 collared from Haymaker Pad in the most eastern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain open.
Surebet Zone: 5.97 g/t AuEq (5.46 g/t Au and 41.43 g/t Ag) over 5.15 meters including 8.77 g/t AuEq (8.06 g/t Au and 57.41 g/t Ag) over 3.45 meters.
Bonanza Zone: 4.85 g/t AuEq (4.64 g/t Au and 17.26 g/t Ag) over 8.90 meters including 6.66 g/t AuEq (6.38 g/t Au and 23.23 g/t Ag) over 5.90 meters and 32.65 g/t Au or 1.0 oz/t AuEq (31.39 g/t Au and 102.45 g/t Ag) over 1.05 meters.
 
GD-24-272 collared from Postman Pad in the most northern part of the Bonanza High-Grade Zone intercepted two separate sections of high-grade gold, silver and base metals corresponding to the Surebet and Bonanza Zones characterized by sulphide rich quartz breccia and veining; both zones remain open.
 
Surebet Zone: 4.70 g/t AuEq (1.53 g/t Au and 258.15 g/t Ag) over 4.00 meters including 6.20 g/t AuEq (2.02 g/t Au and 340.88 g/t Ag) over 3.00 meters.
Bonanza Zone: 2.22 g/t AuEq (0.8 g/t Au and 116.46 g/t Ag) over 8.00 meters including 5.64 g/t AuEq (2.03 g/t Au and 294.14 g/t Ag) over 3.00 meters.
 
Roger and I also discuss all the upcoming drill holes still set to release from the Surebet Discovery area with 10 stacked veins, the nearby Jackpot Zone, the regional Treasure Island target up in the Cambria Icefields, and then nearly 3 dozen holes that are getting relogged from prior years drill programs.
 
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

Nick Hodge – Macroeconomic Themes In 2025, Opportunities In Gold, Uranium, And Copper Stocks - More Technological Innovations In The Mining Sector

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins for a longer-format discussion on and the macroeconomic themes and geopolitics impacts on global trade and the US economy, along with investing opportunities that he sees in select gold, uranium, and copper resource stocks. We also revisit emerging trends on how technology is being implemented within the mining sector.
 
First off we get Nick’s outlook for 2025 on that broader US equity market with regards to the Trump administration anticipated policy initiatives. It’s a nuanced discussion on macroeconomics that briefly touches up on the health of the economy, and trends in the projected data around GDP, jobs, inflation, the US dollar, tariffs, tax cuts, and what sectors of the broad US equities have his attention with the emerging backdrop.
 
We then shift over the commodities space and bounce around from gold and silver fundamentals to the opportunities in precious metals stocks, then to uranium stocks, copper stocks, and eventually touch briefly upon other niche metals like nickel, rare earths, and antimony.  We talk again about the US and Canadian involvement in helping to fund certain critical minerals projects, technology that will be tracking the supply chain and emissions around extractive companies, and some of the other ways that technology is being deployed from a data mining, equipment, tailings, or processing standpoint within the mining sector.
 
Click here to follow Nick’s analysis and publications over at Digest Publishing