The KE Report

This week’s Weekend Show dives into the blistering rallies across gold and silver. First, Richard “Doc” Postma lays out why he still thinks we’re in the early innings of a secular bull despite extreme readings on the charts. Then Jeff Christian explains the mechanics behind silver’s breakout - what’s real, what’s hype, and what it means for investors as speculative flows collide with shifting macro risks.
Segment 1 & 2 - Richard Postma, a.k.a. “Doc,” a longtime technical analyst and market commentator, who shares why he believes the gold and silver bull market is still in its early innings - highlighting record highs, strong technical momentum, supply deficits, and undervalued producers - while also noting his portfolio strategy across miners and his growing interest in oil and gas opportunities.
Segment 3 and 4 - Jeff Christian, Managing Partner at CPM Group, explains that the sharp rallies in silver (back over $50) and gold (near $4,300) are being driven primarily by speculative/momentum buying amid rising political risks - rather than a “silver squeeze” - with temporary London tightness and a reversed NY-London arbitrage contributing at the margins. He adds that central-bank buying has cooled, CoT positioning isn’t extreme, refineries are backed up converting investor bars, and while prices look overheated short term, longer-term support comes from a fraught global political and economic backdrop.
Click here to visit the CPM Group website to learn more about the firm.
 
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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.

In this week’s Daily Editorial, Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of Marc to Market, returns to break down a whirlwind end to the week: a sharp pullback in rare earth and precious metals equities, renewed US-China friction, and fresh jitters around US regional banks. He also shares practical portfolio tactics for navigating vertical moves and volatility shocks.
What we cover
Metals selloff after spike highs: Why rare earth and gold/silver equities gave back gains into week’s end, and how sentiment, rate-cut odds, and “deal optimism” around US-China fed profit-taking.
Strategic reality check on rare earths: Regardless of near-term politics, the US/EU/Japan must rebuild REE processing capacity - an industrial project measured in years, not quarters.
Regional banks back in the headlines: What Zions and Western Alliance signal about CRE stress, the refinancing wall into year-end, and why KRE can bounce even while the group remains in a broader drawdown.
Dollar & rates link: Marc’s framework for the USD tracking US yields lower if the Fed continues cutting, plus how “dollar-block” FX (CAD/AUD/NZD) and safe havens (CHF) fit into the macro picture.
Click here to visit Marc’s site - Marc To Market. 
 
 
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For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ 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, we speak with Simon Dyakowski, President and CEO of Aztec Minerals (TSX-V:AZT - OTCQB:AZZTF), following the company’s largest financing to date - a $10 million bought deal, with no warrants attached.
Simon outlines how this strong institutional financing positions Aztec to expand and de-risk its flagship Tombstone Project in Arizona while advancing toward an initial resource estimate in early 2026.
Key Discussion Highlights:
Largest financing in company history: $10M raised via upsized bought deal, with significant institutional participation and no warrants.
Exploration momentum: Current Tombstone drill program expanded from 5,000m to 7,500m; 12 holes pending assays with more drilling underway.
Resource pathway: Targeting an initial resource estimate in Q1 next year, followed by metallurgical studies..
Cervantes Project (Mexico): Optionality asset with high-grade gold-silver-copper targets; further fieldwork planned pending market and policy clarity.
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.

In this KE Report Company Update, Tara Christie, President & CEO of Banyan Gold (TSX.V:BYN - OTCQB:BYAGF), discusses the newly announced $31.4M strategic financing and provides updates on the expanded 40,000m+ drill program at the AurMac Gold Project in the Yukon.
Key Highlights:
$31.4M Strategic Financing: Led by a private Peruvian mining group with a proven M&A record. Includes $23M flow-through and $8M hard dollars - no warrants or board rights.
Strong Treasury: Cash position to exceed $40M, funding exploration and technical work through 2026 and supporting a Preliminary Economic Assessment (PEA) planned for fall 2026.
AurMac Drill Program: Nearly 36,000m drilled (165 holes) of the planned 40,000m; only 26 holes released so far. Focus on expanding higher-grade zones encompassing the 5M+ ounces >1 g/t Au that will anchor mine design.
Hyland Project: New resource update coming soon for Banyan’s secondary Yukon asset. Modest 2026 drilling planned to test new targets and support potential JV or partnership opportunities.
If you have any follow up questions for Tara please email me at Fleck@kereport.com. 
Click here to visit the Banyan Gold 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.

In this pre-market Daily Editorial, we welcome back Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network. Joel takes a step back from the recent surge in gold and silver to focus on the broader U.S. equity markets - where rising volatility and falling yields are hinting at a potential shift beneath the surface.
Key Discussion Points:
Rising VIX and market nerves - The VIX has climbed above 20, signaling growing unease even as indexes remain flat. Joel explains why this feels more like a “nervous market” than the start of a full correction.
Rates are dropping - good or bad? - With the 10-year Treasury near yearly lows, Joel questions whether falling yields reflect optimism or an early warning of slower growth ahead.
Sector rotation themes - Momentum in the Magnificent Seven is fading, while small-caps (IWM) and biotech (XBI) show strength. Joel outlines where money may be rotating and how interest rate sensitivity is driving trades.
Earnings season tone - Early results from banks and airlines show mixed signals. Joel highlights how upcoming mega-cap tech earnings will be key to gauging market sentiment and valuations.
AI and spending boom - Massive corporate investment in AI continues to prop up GDP numbers, but Joel questions sustainability - suggesting investors look instead at infrastructure and data-center beneficiaries.
Opportunities abroad and in lagging sectors - From European ETFs (EFA) to housing and biotech, Joel identifies areas that may offer better entry points as U.S. markets consolidate.
Joel also shares how he’s navigating this environment - why he sees the market as “nervous, not broken,” and what signals would confirm a deeper shift in sentiment.
 
Click here to visit Joel’s PreMarket Prep website: https://www.premarketprep.com/
Click here to visit the Stock Trader Network: https://www.stocktradernetwork.com/
 
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For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ 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.

Terry Harbort, President and CEO of Talisker Resources (TSX: TSK) (OTCQX:TSKFF), joins me to review the October 9th news announcing the second gold sale from September production from the Mustang Mine, at their 100% owned Bralorne Gold Project in British Columbia. The Company has been consistently trucking over the first development ore from the Mustang Mine to Nicola Mining’s Craigmont Mill located in Merritt, British Columbia, and is now starting to truck over the higher-grade vein material as well as ramping up the tonnes per day to the mill.
 
In September, Talisker produced 862 ounces of gold from the Mustang Mine following on from the 707 ounces of gold sold in August for a total of 1,569 for the quarter ended September 30th. Production was sourced mostly from in-vein development from the 1090, 1105 and 1120 levels and production stoping from the stopes between the 1060 and 1075 levels. Planned production in the fourth quarter 2025 will be sourced from stopes between the 1075 and 1090 and the 1090 and 1020 levels.
 
Terry reviews their operations team’s accelerated development of the Lower Mustang decline which will allow access to the 1045 and 1030 levels below currently accessible areas. To date, 115 metres of development has been completed with 95 metres remaining to reach the 1045 level along the Alhambra and BK veins, increasing future mine output, gold production, and revenues.
 
In addition to having increased the amount of ore mined from 250-300 tpd, there is a current initiative to expand that up to 500 tpd and look to beginning upgrading the ore on site using ore-sorting technology.  This ore-sorting would all for shipping higher-grade material, with less associated waste, and would make it even more economical to be shipped to Nicola Mining’s Craigmont mill, which is currently at capacity processing Talisker’s ore.  Then further out the plan is to increase mining from more areas including from the Olympus Mine to the southeast of the Mustang Mine, and increase operations to 750-1,000 tpd, also utilizing other nearby processing centers with spare capacity. An economic study is slated for later this year that will explore some of these concepts in more detail. Wrapping up we discuss the key milestones and news on tap for the balance of this year.
 
 
If you have any follow up questions for Terry then please email me at Shad@kereport.com.
 
Click here to follow the latest news from Talisker Resources
 
For more market commentary & interview summaries, subscribe to our Substacks:
https://kereport.substack.com/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 Brien Lundin, Editor of Gold Newsletter and host of the New Orleans Investment Conference (Nov. 2–5), to discuss the powerful rally across precious metals and the historic wave of financings sweeping through the junior mining sector.
Key Discussion Highlights:
Unprecedented capital inflows: Gold nearing $4,300/oz and silver topping $53/oz have triggered a flood of financings - many without warrants, rapidly upsized, and often the largest in company histories.
Institutional money returns: Deep-pocketed generalist and hedge fund investors are pouring in, marking a seismic shift for the mining industry.
What companies will do with the cash: With exploration budgets surging, Brien expects both inefficiency and discovery - some waste, but also new mines and mid-tier producers emerging.
Valuation catch-up coming: Feasibility studies using $2,000–$2,500 gold are now badly outdated; developers could see massive re-ratings as markets recalibrate to current prices.
Exploration strategy: How to approach pre-discovery and early-stage drill stories, and why management quality, technical depth, and early hints still matter most in a hot market.
Stocks mentioned: Aftermath Silver (AAG.V / AAGFF), Blackrock Silver (BRC.V / BKRRF), Delta Resources (DLTA.V), Contango Ore (CTGO), Collective Mining (CNL.TO), Prospector Metals (PPP.V).
Click here to learn more about the New Orleans Investment Conference on November 2-5. 
 
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For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ 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, Jon Deluce, President and CEO of Abitibi Metals (CSE:AMQ - OTC:AMQFF - Frankfurt:4KG), provides an update on the B26 Copper-Gold Deposit in Quebec’s Abitibi region, where the company is delivering some of its strongest results to date.
Key Highlights:
High-Grade Drill Results: Latest intercept of 4.46% CuEq over 21.1m (up to ~6% CuEq with gold and silver credits) has driven the expansion of the Phase 3 program to 20,000m with three active rigs.
Resource Growth: The 2024 resource stands at 18Mt averaging ~2% CuEq, with modeling showing potential to rise to ~2.7% CuEq at higher metal prices.
Expansion Focus: About 80% of drilling targets extensions beyond the resource, including 500m step-outs, aiming to outline a 30+Mt deposit comparable to the historic Selbaie Mine nearby.
Funding & Strategy: Fully funded through Q1 2027 with $14M in cash; advancing toward 80% ownership of B26 via a PEA and final equity top-up with SOQUEM (Investissement Québec).
Regional Upside/Exploration: 100%-owned Beschefer Gold Project, 7 km away, features strong historical results (best result of roughly 56g/t over 5.5 meters) with drill permits expected soon.
Next Steps: Continued drill results, a potential strategic investment, and updates on expansion plans into 2026.
If you have any follow up questions for Jon please email me at Fleck@kereport.com.
Click here to visit the Abitibi Metals 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.

Gwen Preston, VP of Communication at West Red Lake Gold Mines (TSX.V:WRLG – OTCQB:WRLGF), joins us and fields a wide array of questions and detailed discussion with updates on underground operations, capital allocation projects, and exploration updates during the ongoing ramp-up towards commercial production at their 100% owned Madsen Mine.  Madsen is located in the Red Lake Gold District of Northwestern Ontario, Canada.   We also review the upcoming exploration strategy nearby at their secondary PEA-stage Rowan Project.
 
In Q3 the Madsen Mine produced 35,700 tonnes of ore at an average grade of 5.4 grams per tonne gold. The mill poured 7,055 ounces of gold. Note that mined and poured ounces do not align because of factors including month end timings and gold in circuit. Those ounces were sold at an average price of US$3,456 per ounce for gross proceeds of CAD$33 million.
 
This compares to 5,260 ounces of gold poured in Q2 for gross proceeds of CAD$24 million and 496 ounces of gold in Q1 for gross proceeds of CAD$2.1 million. Q3 gold production represented a 34% increase over Q2 gold production, a rate that positions Madsen to reach targeted output levels early in 2026.
 
Mined ore tonnage is increasing month over month, within the variability of mine ramp up. Increasing daily mined tonnage is the primary ramp-up factor at Madsen, so the Company is pleased to report ore tonnage rising consistently.
 
 Mined waste development is also progressing as planned, as crews drive access to new areas for drilling and mining. Importantly, as of mid-September mined waste is now being stored largely underground. The underground waste rock storage program is a key de-bottlenecking effort recently in effect and is directly supporting the mine’s ability to move ore tonnes. In the second half of September the mine moved over 1,000 tonnes of ore per day on several days, including a record day moving 1,400 tonnes. This new ability to store all waste rock underground, which has shifted trucking capacity away from waste haulage to ore haulage, bodes well for production.
 
Gwen outlines that the Company currently has a few more areas of focus to execute on over the next few months before declaring commercial production; including:
Upgrades to shaft and hoist to improve efficiencies in ore throughput to mill, and lower costs
More underground development work to increase throughput in the mill
Delivery and utilization of rolling stock equipment that were ordered a while ago and should be arriving to site soon
 
At this point commercial production is targeted for Q1 2026. Gwen reiterates that when the management team and board have the confidence to announce everything is working as it should at the mine and mill at close to targeted levels, that the move into commercial production should also mean the Company is comfortably generating revenues at that point.
 
Next, we discussed the exploration strategy at both the nearby Rowan Project and the blue sky potential in many areas around Madsen.  Gwen points to drill results announced October 9th that were drilled from the 12 Level in the Madsen Mine at approximately 600 meters (“m”) depth and demonstrate the potential for discovery of additional high-grade lenses of gold mineralization in the main Austin Zone very similar to those that have already been delineated in the South Austin zone during 2025. This Lower Austin Zone will continue to be a key focus of drilling for the remainder of 2025.
Hole MM25D-12-4860-004 Intersected 7.75m @ 139.45 g/t Au, from 37.00m to 44.75m, Including 0.6m @ 17.49 g/t Au, from 37.55m to 38.15m, Also including 2m @ 532.25 g/t Au, from 39.15m to 41.15m. 
Hole MM25D-12-4860-005 Intersected 8.7m @ 74.70 g/t Au, from 37.1m to 45.8m, Including 3m @ 134.58 g/t Au, from 37.1m to 40.1m, Also including 4.9m @ 49.73 g/t Au, from 40.9m to 45.8m.
Hole MM25D-12-4860-002 Intersected 7.45m @ 18.31 g/t Au, from 39.65m to 47.10m, Including 0.5m @ 254.49 g/t Au, from 39.65m to 40.15m.
 
 
If you have any follow up questions for Gwen or the team over at West Red Lake Gold, then please email us at either Fleck@kereport.com  or Shad@kereport.com.
 
In full disclosure, Shad is shareholder of West Red Lake Gold Mines 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 West Red Lake Gold Mines
 
 
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, we’re joined by Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF), for a detailed discussion on the company’s recent developments - from patent milestones to global product rollout plans and revenue growth strategies.
Key Discussion Highlights:
Thermal XR Patent Approval (Australia): Craig explains the significance of GMG’s newly granted patent for its Thermal-XR® graphene coating, which improves corrosion resistance and heat transfer in heat exchangers. This 20-year patent provides strong IP protection and is expected to pave the way for similar approvals in the U.S., Europe, and other regions.
Expanding Global Reach: The company has launched its first multi-language, palletized product line for distributors, featuring G® Lubricant and Thermal XR®. With labeling in 16 languages, GMG is now positioned to sell across key international markets through an expanding distributor network.
Go-to-Market Strategy: Craig outlines how GMG is focusing on scalable distribution - moving from bulk industrial customers to retail-ready formats that can reach global partners in the automotive, HVAC, and industrial maintenance sectors. These smaller, ready-to-ship packs will enable more consistent sales growth and global availability.
Revenue Outlook: While fiscal 2025 revenue dipped slightly due to lumpy project sales, Craig emphasizes that upcoming palletized product distribution should drive more repeatable, diversified revenue streams.
 
Upcoming Catalysts:
Pending EPA approval for Thermal XR® in the U.S.
Distributor rollout and initial palletized product orders
Updates on Super-G and battery development progress
Please keep the questions coming! Email me at Fleck@kereport.com.
Click here to visit the GMG 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.