The KE Report

In this KE Report Daily Editorial, we chat with Craig Hemke, Founder and Editor of TF Metals Report, about the strong rebound in metals and markets following news of the U.S. government reopening and growing investor optimism.
Key Discussion Highlights:
Front-running Next Year’s QE: Markets are already pricing in renewed monetary stimulus and yield curve control.
Calm Market Window: A rare “clean week” with no major data or options expirations supports short-term strength.
Record Gold ETF Demand: $37B in North American inflows shows investors are returning to gold exposure.
Money Rotation: A small shift from overvalued tech giants could send metals soaring.
Silver Upgraded: Added to the U.S. critical minerals list, boosting long-term visibility.
Seasonal Setup: Typical December–February rally window could mark the next major upswing.
Click here to visit Craig’s website - TF Metals Report
 
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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. 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 KE Report Daily Editorial, we’re joined by TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot, to break down the broad market rebound following the U.S. government shutdown and where traders should look for confirmation of lasting strength.
Key Discussion Highlights:
Liquidity Rebound: Government reopening releases cash back into markets, fueling “risk-on” buying.
Technical Confirmation Needed: TG expects retests of key supports before declaring a true reversal.
Chart Setup Tips: Watch the 8 EMA, 21 EMA, and hourly 50 SMA for uptrend confirmation.
Metals Cooling Off: Gold, silver, and miners may need time to consolidate after sharp rallies.
Crypto Strength: Ethereum, Bitcoin, Solana, and BMNR showing early institutional accumulation.
Stocks in Focus: TG highlights A FRM, SKLT, GRAB, Tesla, and Robinhood as setups with potential.
Click here to visit TG’s site - Profit Pilot - https://www.profit-pilot.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. 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 KE Report Company Introduction, host Corey Fleck chats with Sean Kearney, CEO of UberDoc, a private healthcare tech company preparing to go public on the Canadian Securities Exchange under the symbol UBDR. Founded by Dr. Paula Muto, UberDoc connects patients directly with specialists.
Key Discussion Highlights:
Fast, Direct Access: Patients instantly book board-certified specialists with upfront pricing - virtual or in-person.
Empowering Doctors: 5,000+ specialists benefit from instant payments and reduced admin costs.
Revenue Model: Subscription and per-visit fees (20–50%), plus government and employer programs.
Market Potential: Targeting a $1T U.S. physician services market with rapid growth prospects.
AI Integration: Tools for patient guidance, cost comparison, and physician marketing efficiency.
Competitive Edge: Specialist-first, transparent, nationwide platform - unlike telehealth-only models.
Going Public: Trading expected soon on the CSE under ticker UBDR.
Click here to visit the UberDoc website to learn more about the technology 
 
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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. 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.

Chris Temple, Editor and Publisher of the National Investor, joins us live at the New Orleans Investment Conference to delve into US policy around critical minerals, and to help us separate the signal from the noise from all the focus in bills and executive orders on copper, uranium, rare earths, antimony, tungsten, lithium, and other strategic metals. We’ve seen a lot of volatility in many of the related resource stocks, and so we dive into a nuanced longer-form conversation about the investing angle in these various sectors.
 
We start off discussing the mixed bag coming from US policy around the extraction, processing, and refinement of critical minerals and energy metals from this administration compared to prior administrations.   On one hand we’ve seen positive funding measures and compressed permitting timelines emerge with initiatives like Fast-41, or the strategic position in MP Materials, or the approval of the Ambler Road for Trilogy Metals.  On the other hand, Chris argues that this is far too little, too late, and that it will take a much larger concerted effort and far more funds to really move the needle on domestic supplies of critical minerals and strategic metals.
 
 We get into the challenges around processing and refinement, being much larger problems that most policy makers realize, and without a quick fix.   The question arises of how much can get realistically get done to help the extractive industries over the next 3 years, or potentially only 1 more year, depending on how mid-term elections turn out.   Chris also points out that many of these initial support bills and executive orders are encouraging, but most will need follow up support and follow through policies to assist, and it remains unclear if we’ll see that pan out in the medium to longer-term.
 
Chris highlights discrepancies in policy and reality, like Rio Tinto’s Resolution Mine in Arizona is on the Fast-41 list, but still has huge hurtles to overcome on a state and local stakeholder level to be able to move forward.  He also highlights that the Teck-Glencore JV at NorthMet in Minnesota, which is a world-class critical minerals project that has been stalled by multiple operators and government bodies and lobbyist groups for all of this century.  He also highlights the government investment into Lithium Americas Thacker Pass Project as potentially misguided use of funds that will be far more capital intensive than other options would have been. Chris reminds listeners that with all those projects, if they do ever get fully approved, they would still be many years from producing more of these critical minerals.
 
Chris reiterates that his top commodity sector for investing is still uranium due to all the tailwinds for nuclear energy.   He is also far more comfortable investing in traditional energy with oil and nat gas companies, than even some of the critical minerals for the longer-term, as we are far further from phasing out fossil fuels that people were led to believe in years past, and there are still opportunities in the energy stocks.
 
Click here to follow along with Chris at the National Investor website.
 
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.

A double-header Weekend Show recorded at and around one of the busiest New Orleans Investment Conferences in a decade: first, Jordan Roy-Byrne outlines why stock picking needs to be the focus, not obsessing over macro calls. Then Dana Lyons maps the near-term, range-bound setup across metals, energy, equities, bonds, and crypto.
 
Segment 1 & 2 - Kicking off this Weekend Show is Jordan Roy-Byrne, CMT, MFTA, Editor of The Daily Gold. He urges investors to de-emphasize macro timing and focus on deep company analysis - favoring undervalued developers/producers with low NPV and cash-flow multiples and clear production growth - arguing the sector is under-owned, quality miners can attract capital even in a general-market pullback, silver has explosive upside on a breakout, and that jurisdiction/share structure matter less at later stages while M&A or strategic shifts demand swift reevaluation.
Click here to visit Jordan’s site, The Daily Gold
 
Segment 3 & 4 - Wrapping up the show is Dana Lyons, fund manager and editor of The Lyons Share Pro, who provides a detailed technical outlook across multiple markets - discussing gold’s ongoing consolidation around $4,000, support levels in gold stocks and silver, continued weakness in oil, emerging caution signals in equities, resilience in biotechs, a downward bias in bond yields, and key support levels for Bitcoin and Ethereum.
Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services
 
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!
 
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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. 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 may own shares in companies mentioned.

Dr. Robert Quartermain, Co-Chairman, Director and CEO of Dakota Gold (NYSE American: DC), joined us for an update, live from the New Orleans Investment Conference, on their Richmond Hill Project and Maitland Gold Project.  Both projects are located in the historic Homestake District of South Dakota, near existing mining infrastructure.  
 
The company is advancing its Richmond Hill project toward eventual surface heap leach gold operation as soon as 2029, with ongoing exploration, metallurgical tests, and working towards feasibility stage economics.   The company is also expanding the surface oxide mineralization and  high-grade gold mineralization at depth discovered thus far at the Maitland Gold Project toward an initial resource estimate.
 
Bob was previously the Executive Chairman of Pretium Resources Inc., which he founded in October 2010. Prior to Pretium, he was President and Chief Executive Officer of Silver Standard Resources Inc. (now SSR Mining Inc.) for 25 years from 1985-2010. Not only does he have a wealth of experience in developing and constructing producing mines, but he has assembled a solid management team and board filled with industry veterans that have worked in either the Homestake Mine, before it closed down, or the currently producing nearby Wharf Mine, operated by Coeur Mining.
 
Richmond Hill is one of the largest undeveloped oxide gold resources in the United States being advanced by a junior mining company, with over 6 million ounces of gold and over 60 million ounces of silver moving along the pathway of development into heap leach production as soon as 2029. Principle Projects on Private Land which equates to a positive attribute for efficient permitting with State and County organizations.
 
Dakota Gold released an Initial Assessment with Cash Flow (IACF) on July 7th, which is similar in nature to a Canadian PEA study.  This economic study was based on a 30,000 ton per day crushing circuit, and furthers the project towards ultimate production.
 
IACF Highlights:
 
Richmond Hill is one of the largest development stage oxide gold resources in the United States: M&I plan identifies 168.3 million tonnes at a grade of 0.566 grams per tonne gold (“g/t Au”) for a total of 2.6 million ounces produced over a 17-year life of mine. MI&I plan identifies 273.7 million tonnes at a grade of 0.530 g/t Au for a total of 3.9 million ounces produced over a 28-year life of mine.
Strong Economics: At a base case gold price of $2,350 per ounce, the project has an after tax NPV5% of $1.6 billion and IRR of 55% for the M&I plan, and $2.1 billion and 59% respectively for the MI&I plan. At recent metal prices of $3,350 the NPV5%’s increase to $2.9 billion and IRR of 99% and $3.7 billion and 107%, respectively.
Low-Cost: Initial Capital of $384 million, including $53 million contingency, with life of mine All-in Sustaining Costs (“AISC”) averaging $1,047 for M&I plan and $1,050 for MI&I plan.
Feasibility Underway: Building on the robust IACF, work has commenced on the Feasibility Study planned for completion in early 2027, construction in 2028 and production targeted for 2029.
 
There are currently two drill rigs turning at Richmond Hill. In 2025, the Company expects to drill ~90,000 feet (27,500 meters) using a combination of Reverse Circulation and Core drilling. The primary focus of the program is to collect metallurgical samples for the Feasibility Study, infill, and expansion resource drilling in the Northeast corner of the Project area. This area is expected to be mined at the beginning of the mine plan and is higher-grade than the overall deposit.
 
At the Maitland Gold Project the Company is currently assessing the exploration data collected to date from the JB Gold Zone and the Unionville Zone with the intent of outlining an initial inferred gold resource. The work is expected to be completed in the fall of 2025. To date the JB Gold Zone has encountered a number of high-grade intersections which average 10.76 g/t Au over 4.0 meters.
 
 
If you have any questions for Bob Quartermain regarding Dakota Gold, then please email those in to us at Fleck@kereport.com or Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Dakota Gold 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 Dakota Gold
 
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 KE Report Daily Editorial, we’re joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of Marc to Market, to discuss the recent U.S. market correction, Fed policy, and the impact of the government shutdown.
Key Discussion Highlights:
Market pullback: Tech leads the selloff as the S&P 500 drops from 6,900 to ~6,600; Chandler flags three late-October gap-ups as a sign of rally exhaustion.
Fed policy shift: Powell’s cautious tone dims hopes for a December cut. Marc expects deeper Fed easing in 2025 versus other central banks.
Shutdown impact: Economic drag near 0.3% of GDP if the shutdown lasts past mid-November; disruptions hit flights and public aid programs.
Dollar bounce: DXY testing its 200-day average - Chandler calls it a short-term rebound within a longer-term downtrend.
Alt data signals: Trucking, rail, and shipping volumes show clear slowdown despite AI-driven strength in headline GDP.
Global divergence: BoC and BoE may still cut; Japan faces pressure to hike despite weak GDP.
Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.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. 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 KE Report company update, I speak with Simon Dyakowski, President and CEO of Aztec Minerals Ltd. (TSX-V:AZT - OTCQB:AZZTF), following the release of record drill results from the Tombstone Project in Arizona.
 
Hole 17 returned 8.16 g/t gold and 49.6 g/t silver over 36.5 meters, including 4.6 meters of 59.6 g/t gold and 158 g/t silver - the best intercept yet at the project.
Key Discussion Highlights:
Record Hole 17: Drilled in the NE Contention Zone, confirming high-grade mineralization linked to historic workings.
Expanding Footprint: Over 80 holes now drilled; strong oxide gold-silver zone continues to grow east and north.
Upcoming Resource: Company preparing for an initial resource in 2025 once pending assays are in.
New Targets: Holes 18–20 testing untested western zones with potential parallel dykes.
CRD Drilling Restarting: Core rig mobilizing mid-November to test deeper carbonate replacement potential.
Busy News Flow: ~30 holes pending; steady updates expected through early 2026.
Please email me any questions you have for Simon. My email address is Fleck@kereport.com. 
Click here to visit the Aztec Minerals website
 
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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. 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.

Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQX: SCZMF) (FSE: 1SZ), joins me unpack the decision to uplist onto the Nasdaq exchange in the US, and to delve into the details of Q3 2025 operational results across their portfolio of producing mines.
 
On October 28th, the Company announced that it has applied to list its common shares on the Nasdaq Capital Market (NASDAQ); as a significant milestone in Santacruz's growth strategy. We discussed how a big board US listing will increase transparency and liquidity to an expanded American shareholder base, and he explains the rationale for going with the NASDAQ over the NYSE.  In connection with the proposed listing, the Company will seek shareholder approval at the upcoming AGSM for, among other things, a consolidation of its common shares to meet Nasdaq's initial listing requirements, which include a minimum bid price of US$4 per share. 
 
We discussed that the share consolidation is for a positive reason and for listing requirements, which is much different than when cash-starved juniors typically roll back their shares to initiate further series of dilutive financings.  Santacruz Silver paid off their loan to Glencore in September, and is generating record revenues at current metals prices; so they are in a totally different financial position than a pre-revenue junior resource stock. Their motivation for the share consolidation is merely to meet the NASDAQ listing requirements.
 
We also get into a comprehensive review of all producing operations, as well as discussing future growth through exploration around current mines, development of Soracaya, and the potential for accretive acquisitions. Santacruz Silver operates 1 mine in Mexico, and 5 mines, 3 mills, and an ore feed-sourcing and metals trading business in Bolivia, as an emerging mid-tier silver and base metals producer.
On November 3rd, Santacruz Silver reported its Q3 2025 production results from its Bolívar mine, Porco mine, Caballo Blanco Group of mines and the San Lucas Group (which includes the Reserva Mina) and the San Lucas feed sourcing business, all located in Bolivia, and the Zimapan mine located in Mexico.
 
Q3 2025 Production Highlights:
Silver Equivalent Production: 3,424,817 silver equivalent ounces
Silver Production: 1,241,929 ounces
Zinc Production: 21,581 tonnes
Lead Production: 2,603 tonnes
Copper Production: 331 tonnes
 
During Q3 2025, Santacruz maintained steady consolidated production, supported by strong operational performance from Caballo Blanco and San Lucas, which helped offset the lower silver production at the Bolívar mine. This third quarter captured the largest impacts of the water inflow event that first occurred at the Bolívar Mine in May 2025. Since then, their operations team has been actively working on strengthening the pumping system at Bolívar, with the fourth line commissioned in September and the installation of a fifth submersible line underway, which together will increase total pumping capacity to 340 liters per second (l/s). These improvements are facilitating the gradual dewatering and recovery of the affected zones in the Bolívar mine.  The Company expects production from the high-grade Pomabamba and Nané areas at Bolívar to resume in February 2026 and ramp up steadily through the remainder of the year.
 
In Mexico, Zimapán continued to deliver stable production, reflecting consistent plant throughput and recoveries. we discussed the higher-grade 960 Level at the Zimapan Mine starting to contribute, and how this will continue growing in the Q3 and Q4 production profile from Zimapan for the balance of this year and for many years into the future.
 
If you have any follow up questions for Arturo regarding Santacruz Silver, then please email those to me 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.

In this KE Report Company Update, Garrett Ainsworth, President and CEO of District Metals (TSX-V:DMX - OTCQB:DMXCF - Nasdaq First North:DMXSE SDB), joins us to discuss the historic repeal of Sweden’s uranium exploration and mining moratorium - a transformative move opening major opportunities across the company’s Swedish portfolio.
Key Discussion Highlights:
Moratorium Repealed: Sweden officially ends its uranium ban, with new laws effective January 1, 2026.
Major Boost for District Metals: The change allows full advancement of uranium-rich projects, including Viken and the portfolio of uranium projects.
Next Steps: 2026 plans include drilling key targets, a PEA on Viken, and expanded field programs.
Well-Funded: C$9M in cash plus C$2.7M in potential warrant proceeds.
Strategic Optionality: Open to partnerships on non-core assets while advancing Viken 100%.
Sector Momentum: Strong industry interest as new players move into Sweden’s uranium sector.
If you have any follow up questions for Garrett please email me at Fleck@kereport.com. 
 
Click here to visit the District Metals website to learn more about the Company
 
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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. 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.