The KE Report

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us for a longer-format discussion on and the macroeconomic themes and fundamental value drivers that that are presenting catalyst-driven opportunities in select gold, silver, lithium, and uranium stocks.
 
We start off reviewing how the Fed’s first rate cut in 9 months, here during the month of September, and that sticky and rising inflation has been a key tailwind for reflationary trends in US equities, cryptos, and the commodities sectors. Nick points out, once again, that real assets are moving higher in response.  Despite the melt up we’ve seen in many metals resource stocks, Nick goes on to outline where there are still opportunities in companies that have solid work programs and news catalysts on the horizon in the precious metals stocks, and that there are still many positive macro policy factors providing tailwinds to critical minerals like copper, rare earths, and antimony, and energy metals like lithium and uranium.
 
Nick highlights a few gold and silver companies that have had news catalysts driving their charts higher like recent high-grade silver equivalent results returned in the initial drill results from Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF), and the compelling market cap gulf between the earlier stage Daura Gold Corp. (TSXV: DGC) exploring adjacent on the same mineralized trend to the more richly valued Highlander Silver Corp. (TSX:HSLV) in Peru.  
 
Next, we revisited the point Nick has made in prior discussions that the lithium space presented a “buy the dip” moment a few months back, and that both the underlying metals price and the related equities have bounced and started a trajectory higher.  He also pointed to the doubling of the stock price this week in Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), on the back of media reports pertaining to the status of its previously announced $2.26 billion loan from the U.S. Department of Energy (“DOE”).
 
Shifting over to the nuclear power and uranium tailwinds from the government fiscal bills and executive orders passed the last few years have had provisions in them for accelerating the development of nuclear power infrastructure and uranium mining. Just this month we saw more comments from the US administration on creating a strategic uranium reserve and this has sent the prices of North American uranium stocks even higher, as they’ve been in a multi-month rally coming off the April sector lows. Nick highlights the prior trading opportunity he brought to listens attention a few months back in the Sprott Junior Uranium Miners ETF (URNJ) as one that has worked out nicely.
 
Nick also flagged uranium companies like Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU), enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), Uranium Energy Corp (NYSE American: UEC), North Shore Uranium Ltd. (TSXV:NSU), Denison Mines Corp (TSX: DML) (NYSE American: DNN), and Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) as different stages of uranium companies that are doing good work to advance their projects, which continue to have his attention.
 
Wrapping up Nick shares the technical innovation in the mining sector and value proposition he sees in  MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) a leading provider of digital supply chain solutions for the commodity markets.  He points out his it is valuable to banks, to traders, to exchanges, to metals producers, to exporters, to importers, to smelters to provide big data and assurances of supply chains.  This opens up a number of lucrative avenues for helping the resource sector, materials space, and manufacturing industries by leveraging this technology, and it is already attracting major partners.
 
Click here to follow Nick’s analysis and publications over at Digest Publishing
 
For more market commentary & interview summaries, subscribe to our Substacks:
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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 and hosts may own shares in companies mentioned.

Fred Bell, CEO of Elemental Altus Royalties (TSX.V:ELE) (OTCQX:ELEMF), and Dave Cole, CEO of EMX Royalty Corp (NYSE American: EMX) (TSXV: EMX), both join me to unpack the key transaction details, synergies, and growth profile emerging from the business combination of both companies into the emerging Elemental Royalty Corp.  In the new combined entity, Dave will be the CEO, and Fred will be the President and COO, with the balance of the management team and board being a solid blend of the 2 companies current teams.
 
Dave starts us off with the big-picture rationale for this merger, creating a larger royalty company of scale, graduating up to the mid-tier category, with more analyst coverage and liquidity, a better cost of capital, the financial strength from the backing of the key strategic shareholder Tether Investments, and the potential to rerate in the future to a better price to net asset value multiple more in alignment with larger royalty peers.
 
Fred then takes us through the transaction specifics of the merger, including the recent financing, share roll back, and US big board exchange listing that were all announced earlier this month, in concert with this business combination. Fred also outlines the importance of having Tether Investments as their key strategic shareholder, and they financially backstop the kinds of accretive acquisitions that they can now go after. He also explains why they made the choice to establish an institutional account to gain exposure to Tether Gold (XAUt), a tokenized asset backed 1:1 by physical gold, to diversify the Company's treasury and increase exposure to rising gold prices with enhanced liquidity and efficiency.
 
We also dive into updates on their key cornerstone royalty partner projects: Timok, Laverton, Karlawinda, and Caserones. the organic development growth still on tap in their portfolio of royalties, the future upside of the continued royalty generation strategy, and a look ahead to future larger acquisitions than were possible for both companies up until the creation of this new combined vehicle.
 
If you have any follow up questions for Dave or Fred regarding the merger of Elemental Altus Royalties with EMX Royalty, into the new Elemental Royalty Corp, then please email them to me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of both Elemental Altus Royalties and EMX Royalty Corp at the time of this recording, and may choose to buy or sell shares at any time.
 
Click here to learn more about the Elemental Altus and EMX Royalty merger
 
Click here to view recent news on Elemental Altus Royalties
 
Click here to view recent news on EMX Royalty

In this KE Report Daily Editorial (Sept. 24), we welcome back Dana Lyons, fund manager and editor of Lyons Share Pro. Dana shares how his proprietary models continue to signal bullish conditions despite some red flags in sentiment and seasonality.
Discussion Highlights:
Market Outlook: U.S. equities still trend higher, with Dana’s models staying net long despite extended rallies.
Risk Management: How Dana trims profits and manages position sizing when sectors hit stretched levels.
Sector Rotation: Fresh strength emerging in technology, uranium, China, and now the energy sector (ETFs: XLE, FXN, PSCE).
Precious Metals: Gold, silver, and miners (GDX, GDXJ, SILJ) remain strong, with equities still catching up to metals prices.
Uranium Equities: Breakouts in URA, URNM, and NUKZ suggest more upside after consolidations.
Alpha Generation: Why experience and disciplined models matter most in extended bull markets.
Mentioned ETFs & Tickers: XLE, FXN, PSCE, URA, URNM, NUKZ, GDX, GDXJ, SILJ, GLD
 
Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services. 
 
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For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
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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 and hosts may own shares in companies mentioned.

We welcome back Simon Dyakowski, President & CEO of Aztec Minerals (TSX.V:AZT - OTCQB:AZZTF), to discuss the latest drill results from the Tombstone Project in Arizona, released September 23rd.
Key Highlights:
Five new RC holes drilled at the Contention Main Pit Zone, all step-outs to test the system’s growth.
Hole 6 standout result: 3m @ 2,150 g/t silver equivalent within 28.9m @ 250 g/t silver eq., starting at 76m depth.
Hole 5 highlight: 4.6m @ 590 g/t silver eq. within a broader 47m @ 85 g/t silver eq.
Holes 7 & 8 confirm potential to extend mineralization westward and at depth.
Drill program expanded from 5,000m to 7,500m.
Upcoming results: step-outs to the south (near last year’s 7,000 g/t silver eq. hit), plus CRD target testing at depth.
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 company update, we speak with Wendell Zerb, Chairman and CEO of Red Canyon Resources (CSE: REDC - OTCQB: REDRF), about two major developments:
Strategic Financing: Closed an oversubscribed +$2.3M financing (charity flow-through). Teck Resources (TSX: TECK.A & TECK.B | NYSE: TECK) participated, acquiring a 9.9% stake in Red Canyon.
Kendal Project Drilling: A 2,500m drill program (5–8 holes) is underway at the Kendal Ridge target in British Columbia. The focus is on defining potential porphyry copper centers within a kilometer-scale alteration system.
Exploration Approach: Wendell explains how geoscience works - geology, alteration studies, geophysics, and sampling - has built the case for drilling this high-priority target.
Pipeline Projects: Updates on the Inzana copper-gold project in BC (advancing toward drilling in 2026) and the Scraper Springs project in Nevada, potential partner interest.
 
For more information, visit Red Canyon Resources 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.

We’re joined by Dave Erfle, founder and editor of Junior Miner Junky, to break down the ongoing strength in precious metals. Gold is holding above $3,800/oz and silver over $44/oz, with mining stocks - both large and small - continuing to outperform.
Discussion highlights:
Gold & Silver surge - strongest impulse move in 20 years, targets of $3,850–$4,000
Mining stocks outperforming - GDX, TSX Venture, and juniors still have room to catch up
Valuations - many development companies remain cheap on an “ounces in the ground” basis
Producers vs. juniors - Newmont (NEM) cash flows exploding, but early-stage juniors still offer big upside
Strategy - balancing short-term trading vs. long-term holding in a runaway bull market
Stocks mentioned:
GDX (VanEck Gold Miners ETF)
NEM (Newmont Corporation)
 
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter. 
 
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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.

We welcome back Eric Roth, President & CEO of Capella Minerals (TSX-V: CMIL - OTCQB: CMILF) for an important company update.
Earlier this summer, Capella announced a strategic joint venture earn-in agreement with Tümad Mining, a major Turkish gold producer. That deal is now finalized, setting the stage for significant exploration across Capella’s copper and gold assets in Norway and Finland.
Key Discussion Points:
Definitive JV Agreement Signed: Tümad Mining can earn up to 51% through staged exploration spending.
Year 1 Commitment: Minimum of 12,000 meters of drilling (~US$4M), split between the Hessjøgruva copper-cobalt-zinc project (Norway) and the Killero copper-gold target (Finland).
Exploration Focus:
High-grade VMS copper deposits in Norway’s Hessjøgruva district.
Untested gold-copper anomalies in Finland’s Central Lapland Greenstone Belt.
Strong News Flow Ahead: Continuous drilling programs expected to deliver steady results over the next 12 months.
Capella’s Strategy: While Tümad funds the JV exploration, Capella is advancing plans to add a new 100%-owned copper or gold project to its portfolio.
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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.

We welcome Mike Allen, President & CEO of StrikePoint Gold (TSX-V: SKP - OTCQB: STKXF), for a full introduction to the company’s flagship Hercules Gold Project in Nevada.
Key discussion points include:
Hercules Gold Project overview - a 100 km² land package in the Walker Lane Trend.
Mike’s history with the project, selling it previously for US$20M and reacquiring it for just C$250k.
Results from recent drilling: 6-for-6 successful holes, including strong intercepts confirming the new geological model.
Exploration target of ~1 million ounces of oxide gold.
Comparison to nearby projects and recent Nevada M&A transactions.
Upcoming catalysts: new permits, additional drill programs, and potential M&A opportunities.
Click here to visit the Strikepoint Gold website to learn more about the Company. 
 
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.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review why the value proposition in the exploration alpha plays are based around news catalysts and milestones, more so that higher metals prices.  For this very reason, he’s less interested in the sector sentiment turns we’ve seen in the valuations of producers and advanced developers in the higher underlying metals price environment, and more animated by the fundamental prospectivity of the explorers that haven’t moved up as much yet, but have the biggest potential for gains if they deliver on their thesis and make a discovery and define a significant future economic deposit.
 
Erik discusses some of the nuances around valuing the potential upside in gold and copper exploration companies, that have compelling drill targets, large strategic shareholders that have already vetting the projects and management teams, are in the right jurisdictions, and that have the potential for rapid upside moves if they make compelling discoveries while expanding resources.
 
  >> The companies we discussed in the interview are:
 
Red Canyon Resources Ltd. (CSE: REDC) (OTCQB: REDRF)
New Break Resources Ltd. (CSE: NBRK)
Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF)
 
* In full disclosure, some 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.
 
Click here to follow Erik’s analysis over at The Hedgeless Horseman website
 
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.

Sun Peak Metals (TSX.V:PEAK - OTCQB:SUNPF) is making a major strategic move. President & CEO Greg Davis joins us to discuss the recently announced LOI with Saudi Discovery Company and the company’s shift of focus to Saudi Arabia.
Key points:
Strategic pivot: Ethiopia’s Shire project on hold under force majeure → shifting across the Red Sea.
LOI details: Sun Peak shareholders ~60%, Saudi Discovery ~40% post-financing.
Saudi portfolio: 6 granted licenses (~340 km²) + ~700 km² pending, all on VMS trends.
Work plan: Mapping, geophysics, and drilling to start quickly with strong infrastructure in place.
Supportive regime: Favorable permitting, tax/royalty terms, and government-backed financing incentives.
Competitive edge: Early mover advantage in Saudi exploration, backed by a proven technical team with 20+ years in the Arabian Nubian Shield.
For more market commentary & interview summaries, subscribe: 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.