The KE Report

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY), joins me for an introduction to this newly formed junior exploration company focused on silver and gold discoveries across the Parral District, in Chihuahua, Mexico.
 
We start off with Scott sharing some of the background on how this company came together, where he consolidated 15 mining concessions around the prior-producing Las Coloradas Mine to form their flagship Las Coloradas Project, and ensure that their land package has district-scale size potential.  After a few years of work consolidating the land, sampling and mapping, and reviewing historical data from Asarco, the Company is now engaged in a 3,000 meter drill program, with 6 priority holes along the strike of the old mine, and upwards of 11-14 holes in total, that may also test beneath the water table.
 
Next we discussed the secondary Almoloya Gold-Silver Project, that has about 3 times the land position as Las Coloradas, and also involved consolidating several large concessions, including the prior-producing Cigarrero Mine.   The mineralization is considered prospective for CRD types of polymetallic deposits, with the potential for near-surface oxide precious metals mineralization.
 
Wrapping up I had Scott share his background in the industry, highlight a few of the key members of the management team and board of directors, key stakeholders, and the financial health of this new exploration company.   The company is cashed up to execute on this exploration program, and drilling is underway.
 
 
If you have any questions for Scott regarding Kingsmen Resources, then please email those in to me at Shad@kereport.com.
 
Click here to follow the latest news from Kingsmen Resources

Mark Brennan,  Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review the Q2 2025 operations and 20,000 meter expansionary exploration program at the producing Minera Don Nicolas gold mine in Argentina, and the value proposition key upcoming development catalysts at the Lagoa Salgada VMS Project in Portugal and the Mont Sorcier Iron-Vanadium project in Quebec.
 
 Q2 2025 M.D.N. Operating Highlights:
 
Gold Equivalent Ounce ("GEO") Production of 11,437 GEO for the 2nd Quarter 2025
Underground Development has commenced and production set to ramp up in H2/2025
Expanded crushing and agglomeration capacity should expand tonnages to the leach pads and improve recoveries at the Heap Leach operation
2025 Production Guidance of 55,000 - 60,000 GEO remains in place, production weighted to H2 2025 as underground ramps up
20,000m Exploration Program underway at MDN targeting potential significant resource growth opportunities
 
Mark and I review their Minera Don Nicolas producing gold project in Argentina, and the record heap leach gold equivalent ounce production for the quarter. We discuss the positive impact that the newly installed secondary crusher has brought to production starting at the tail-end of Q2, but then will continue to be impactful on a move-forward basis in Q3 and beyond, with the quantity of ore being placed on the pad having increased.
 
The production profile will also keep growing in Q3 with the underground mining having now commenced.  With higher gold prices, the CIL plant continued to process lower-grade stockpiles and is planned to continue processing low grade stockpiles through Q2/25, after which it will be blended with new high-grade material from the underground mining operations, and this will increase the average grade throughput at the mill.
 
Another area of future growth will be the 20,000 meter drill program that is exploring the open pit resources, as well as identifying for more satellite open-pits at surface.   Having gone underground, there is also now the potential for underground exploration work to begin targeting new areas of mineralization or further defining existing areas of mineralization.
 
 
Next we unpacked the growing value proposition at the Lagoa Salgada VMS Project  in Portugal, with a Post-tax NPV of US$147 million and a 39% IRR in the current Feasibility Study. This Project adds both substantial precious metals resources along with critical minerals exposure (42 % Gold & Silver, 24% zinc, 14% copper, and 5% tin) to the future production profile.  We also discuss the 2 areas that will be addressed in the resubmission of their Environmental Impact Assessment (EIA) where approval is expected after upcoming political elections, and there will be an optimized Feasibility Study released in Q3, a construction decision by year end or early next year.  Construction is targeted for Q2 of 2026, with first production slated for H2 2027.*
 
We wrap up discussing the underappreciated value and ongoing derisking work that is moving towards a Bankable Feasibility Study in Q1 of 2026 at the Mont Sorcier Iron-Vanadium in Quebec. Recent metallurgical test work, has reaffirmed the potential to produce high-grade and high-purity iron concentrate grading in excess of 67% iron with silica and alumina content below 2.3%.
 
 
If you have questions for Mark regarding Cerrado Gold, then please email those to me at Shad@kereport.com.
 
* In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time.
 
Click here to see the latest news from Cerrado Gold.

In this KE Report Company Introduction, I speak with Bob Archer, President and CEO of Pinnacle Silver and Gold (TSX.V: PINN | OTC: PSGCF | Frankfurt: P9J), as the company shifts its primary focus to Mexico with the El Potrero Project, following a strategic option agreement signed in February 2025.
 
Key Highlights from the Interview
Strategic Shift to Mexico and Restarting Production
Pinnacle Silver and Gold transitioned from its Canadian-focused past to pursue high-grade, near-term production opportunities in Mexico.
The flagship El Potrero Project, located in the Topia district of Durango, is a past-producing asset, comprising multiple high-grade underground gold-silver mines.
The company is using a cash-flow-first model - similar to Bob’s prior success at Great Panther - aiming for production before establishing a large resource.
Early Sampling Results
Surface and underground channel sampling from the central “Pino Cuata” zone delivered grades as high as 85 g/t gold and 520 g/t silver (individual sample)
Production-First Strategy and Flexible Option Deal
Structured to earn 50% upon entering production, with the path to 90% and potentially 100% ownership.
Targeting small-scale, high-margin production (~100 TPD), reducing permitting complexity and capital needs.
Existing mill infrastructure and underground access greatly accelerate timelines and reduce costs.
Well-Rounded Team with Strong Local Ties
CEO Bob Archer brings 45+ years of experience, including founding Great Panther and multiple mine restarts in Mexico.
Key technical advisors include metallurgical engineer David Salari, global geologist Colin Jones, and a Mexican technical team with local experience and community engagement.
Strong Start to 2025 and Fully Subscribed Financing
Recently closed a $1.3M financing, enabling mapping, LIDAR surveys, and potentially underground drilling as early as September.
Pinnacle is also evaluating additional acquisition opportunities to replicate the Great Panther playbook.
Red Lake Projects Remain in the Portfolio
Two 100%-owned assets in Ontario (including the historic Argosy Mine) are on the back burner but remain part of the long-term growth pipeline.
Please email me with any follow up questions you have for Bob - Fleck@kereport.com.
Click here to visit the Pinnacle Silver and Gold website to learn more about the company and read over the recent news.

This week’s KE Report Weekend Show dives deep into a market environment where nearly everything seems to be climbing higher. In Part 1, Rick Bensignor breaks down why tech and industrials are powering this melt‑up while retail traders outsmart institutions. In Part 2, Dan Steffens highlights overlooked energy opportunities despite oil’s quiet range and natural gas volatility.
 
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!
 
Also check out our Substack where we email you summaries of Daily Editorials and the Weekend Show! Click here to check it out.
 
Segment 1 & 2 - Rick Bensignor, President of Bensignor Investment Strategies and publisher of the In The Know Trader reports, kicks off the show to discuss a market environment defined by broad melt‑ups but driven mainly by tech and industrials, while noting opportunities emerging in beaten‑down healthcare, select metals like gold and silver despite near‑term pullbacks, cautious stances on oil and bonds, and long‑term upside potential in uranium and even Bitcoin as institutional adoption grows.
Click here to visit the In The Know Trader website.
 
Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, joined the show to discuss why oil has been stuck in a tight $65–$69 range despite low inventories, how tariff fears and muted demand are weighing on prices, and why U.S. production may soon decline. He also highlighted natural gas volatility, rising LNG demand, and featured Canadian producer Whitecap Resources as a strong dividend‑paying growth story poised to benefit from future energy market tightness.
Click here to visit the Energy Prospectus Group website for more energy market and stock analysis. If you want Dan’s report on Whitecap you can email him at energyprospectus@gmail.com.
 
 

Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins me for a review of Q2 2025 operations and production metrics from its Segilola Gold mine, located in Nigeria, and for the Company’s ongoing exploration and development programs in Nigeria, Senegal and Cote D’Ivoire.
 
Segilola Q2 Highlights
 
Q2 gold poured of 22,784 ounces ("oz")
Gold sales in Q2 2025 of 25,900 oz at an average realized price of US$3,187 resulting in revenue of $82.5 million
Gold produced from 238,425 tonnes milled at an average grade of 3.12 grammes per tonne ("g/t") of gold and process plant recovery at 93.1%
Mine production of 242,461 tonnes at an average grade of 3.02g/t of gold for 23,573 oz
Ore stockpile decreased by 307 oz to 41,092 oz of gold at an average grade of 0.84g/t of gold
 
FY 2025 Outlook and Catalysts
 
FY 2025 production guidance range maintained at 85,000 to 95,000 oz of gold
FY 2025 All-in Sustaining Cost ("AISC") guidance range maintained at $800 to $1,000 per ounce.
Drilling programs across all the Company's exploration portfolio
 
Segilola: continuation of ongoing underground drilling program
 
Nigeria regional targets: continuation of scout drilling programs on identified near-mine and regional targets
 
Senegal  at the Douta Project:
 
Completion of drilling program at Baraka 3 prospect targeted to be incorporated into the Douta Preliminary Feasibility Study mine plan
Completion of further Reverse Circulation ("RC") drilling targeting additional oxide resources
Following completion of Douta Project drilling programs, preparation of Updated Mineral Resource Estimate and Pre-Feasibility Study ("PFS") at the Douta Project
 
Côte d'Ivoire: Exploration being advanced on the Guitry, Marahui and Boundiali licenses, with further drilling to occur on Guitry and drilling to commence on Marahui where drill targets have been delineated.
During May and June 2025, Thor completed an initial 3,000 metre ("m") reverse circulation ("RC") drilling program at Guitry and has received initial assay results from the program. The objective of the program was to gain a better understanding of both the geometry and geological controls on gold mineralisation based on a new interpretation of the historic drilling results obtained by Endeavour Mining, the historical owner of the asset.
The assay results received to date from this drilling program include the following highlights:
Drillhole GURC25-208 - 14m at 2.59 grammes per tonne ("g/t") of gold ("Au") from surface
Drillhole GURC25-209 - 4m at 6.87 g/tAu from 38m
Drillhole GURC25-212 - 5m at 7.48 g/tAu from 5m
Drillhole GURC25-214 - 10m at 10.36g/t Au from 57m
Drillhole GURC25-216 - 7m at 3.93 g/tAu from 7m
Drillhole GURC25-219 - 3m at 14.50 g/tAu from 82m
Drillhole GURC25-221 - 13m at 3.46/t Au from 114m
Drillhole GURC25-227 - 7m at 7.71 g/tAu from 77m
Drillhole GURC25-228 - 5m at 12.65 g/tAu from 69m
Drillhole GURC25-229 - 17m at 2.16 g/tAu from surface
Further exploration at the Krakouadiokro Prospect will include both infill and step-out drilling.
 
Dividend
 
The Group will maintain the dividend policy announced on April 8, 2025, with the second quarterly dividend payment scheduled for August 15, 2025.
Dividends for the quarter will be paid at an amount of C$0.0125 per share.
 
 
If you have any questions for Segun regarding Thor Explorations, then please email them into me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview.
 
Click here to follow the latest news from Thor Explorations

In this KE Report company update, I speak with Chris Donaldson, President & CEO of Valkea Resources (TSX.V:OZ - OTCQB:OZBKF - FSE:S600), to outline the next phase of exploration at the company’s flagship Paana Project in the Central Lapland Greenstone Belt of Finland.
 
Key Highlights:
Valkea recently raised C$4.1M (anchored by Michael Gentile) and is fully funded for its next drill campaign.
A 2,000-3,000 m drill program is set to begin mid‑August, focusing on the Koivu Zone at the Aarnivalkea West target - testing extensions both along strike and at depth.
Step‑outs of 50-100 m around discovery holes and broader step‑outs across a 1.3 km anomaly aim to define scale and continuity.
Ongoing base‑of‑till drilling and target generation planned for other zones on the Panna property, plus early work at other projects.
Valkea remains open to JV opportunities on non‑core assets while advancing its two main projects.
With significant activity from majors and explorers in this region, Valkea’s upcoming drill program is designed to define the size and potential of a promising discovery. Results are expected to begin arriving six to seven weeks after drilling commences.
 
Any follow up questions for Chris can be emailed to me directly at Fleck@kereport.com. 
Click here to visit the Valkea Resources website to learn more about the Company.

In this in‑depth company update, I speak with Craig Nichol, Founder & CEO of Graphene Manufacturing Group (TSX.V:GMG - OTCQX:GMGMF), to address your recent questions and unpack the latest news across GMG’s product lines and R&D initiatives.
 
Topics we cover in detail:
G® Lubricant:
July 4th news release – progress on sales channels, palletization, and global distribution plans
Regulatory approvals underway in Europe and the U.S. (EPA and REACH)
Feedback from large truck fleets and the timeline for scaling with distributors
Revenue targets and steps toward positive cash flow
THERMAL-XR®:
Launch plans for the new TXR kit, designed for easy adoption and energy savings
Similar palletization and distribution strategies as G Lubricant
Battery Division:
Australian patent granted on GMG and University of Queensland’s aluminum‑ion battery
Collaboration agreement with UQ and government support to accelerate R&D
Partnership with BIC in the U.S. to produce and test cells ahead of scaling up
What milestones investors should watch for next
Craig also shares candid insight on regulatory hurdles, distributor onboarding, and what it will take to turn today’s strong gross margins into meaningful, near‑term cash flow.
Have questions for the next interview? Email: fleck@kereport.com
 
Click here to visit the GMG website to learn more about the Company.

Joel Elconin, co‑host of the Pre‑Market Prep show and founder of the Stock Trader Network, joins us to break down the almost‑everything bull market pushing indices to record highs.
Key topics covered:
Leadership driving the rally: Big tech names like Microsoft, Nvidia, Google, Meta, and Broadcom leading markets to fresh highs, with value names like Berkshire and JPMorgan also participating.
Earnings season takeaways: Why some companies get punished despite beating estimates, cautious guidance trends, and how tariffs are factoring into outlooks.
Retail investor dynamics: The resurgence of meme‑style moves, retail’s influence in small caps, and how institutions are adapting.
Opportunities ahead: Joel’s perspective on small caps, sector rotation, and what to watch as July closes out with key reports from Apple, Amazon, and other tech giants.
 
Click here to visit Joel’s PreMarket Prep website.
Click here to visit the Stock Trader Network.

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 macro and micro themes that are continuing to push the US general equities, cryptocurrencies, and commodities markets ever higher, in an “Everything is awesome,” melt-up higher.  Nick shares how he has been positioned early in these trends with rare earths, copper, uranium, and critical minerals stocks.
 
We start off reviewing how the US fiscal policy is leading to a weaker US dollar, which has been a key tailwind to US equities, cryptos, and the commodities sectors.  We review the impacts of the back-to-back Biden and Trump administration policies that both increased the US debt and deficits, with the passage of large fiscal policy bills, that have acted as an additional tailwind to the critical minerals and energy metals side of the mining sector.   Both the Inflation Reduction Act and the Big Beautiful Bill respectively, had provisions in them for accelerating the development of nuclear power infrastructure and uranium mining, a focus on critical minerals like lithium, rare earths, and copper, and how this is bringing in new investors waking up to how the commodities space is really the building blocks of many other sectors in our economy and daily life.
 
This leads into a more in-depth discussion on the rare earth sector in particular, where Nick notes the recent Department of Defense investment into MP Materials Corp. (NYSE: MP) as a key stakeholder, but also providing them a floor on their Neodymium products, and agreeing to be a buyer future magnet production.   Then, shortly thereafter, Apple Inc. (NASDAQ: AAPL) made a $500M investment into MP Materials to accelerate and help fund the future development of a permanent magnet recycling plant in Texas.   Nick points to CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF), as another company poised to start recycling permanent magnets, also in Texas. Additionally, he highlights the heavy rare earth production capacity increasing from Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU), as another way to participate in the tailwinds pushing the rare earth stocks higher.
 
Next we pivoted over to the importance of copper, and the recent move higher in prices on the back of the proposed Trump tariff on this energy metal.  Nick flags Freeport-McMoRan Inc. (NYSE: FCX) as a domestic producer that he feels has been offering investors a good accumulation period on future growing revenues. He also highlights his recent private placement into an earlier-stage prospect generator, Kincora Copper Limited (TSXV: KCC) (ASX: KCC), with exploration properties looking for copper and gold porphyries in Australia.  Nick also describes how this company has forged partnerships with AI and technology companies; a trend that he expects to see more of as the mining sector evolves and more companies look to secure their own supply chains.
 
 Rounding out the discussion on critical minerals, and providing an example of how to trim and reposition on pullbacks in winning portfolio positions, Nick discussed how he has approached trading around a core position in Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF).    This leads into a segment where Nick shares what changes he has made to how he approached managing his portfolio, and other best practices for trading and investing within the resource sector as this bull market evolves over time.
 
Click here to follow Nick’s analysis and publications over at Digest Publishing

Brad Rourke, President and CEO of Scottie Resources (TSX.V:SCOT – OTCQB:SCTSF), joins me to review a number of key takeaways from recent newsflow on the further derisking work building towards an upcoming Preliminary Economic Assessment (PEA) and the largest ever drill program exploring and expanding resources at the Scottie Gold Mine Project located in the Golden Triangle of British Columbia.
 
We start off reviewing that drilling has been underway with 3 diamond drill rigs on the property and a 4th drill rig is being added in the next week focused at targets around the past-producing Scottie Gold Mine and the adjacent, high-priority Blueberry Contact Zone-is located just 35 kilometres north of Stewart, British Columbia. Brad points out that a big percentage of the planned 25,000-30,000 meters will be focused on upgrading the resources from inferred to indicated categories as well as resource at the Blueberry Contact Zone, with a focus on the open pit and upper portions of the underground resources at both Blueberry and Scottie, and detailed testing of the siltstone side of the contact zone. We also review follow-up step-out drilling on the Wolf Zone target discovered in 2024 at the Scottie Gold Mine area.
 
Ongoing geotechnical and hydrogeology drilling will also provide data to inform mine design and assist efforts with the recent initiation of Baseline Environmental Studies. With all this exploration and fieldwork now underway, the Company remains on track to deliver a low-capex PEA based on a Direct Shipment Ore (DSO) scenario in October.  Brad reiterates that the management team and board believes this coming economics study will clearly highlight the significant, untapped value of the Scottie Gold Mine Project. 
 
Next we touched on the big news out to the market today on July 24, 2025, which announced that Scottie Resources has received all required permits from the government of British Columbia to proceed with a 10,000-tonne surface bulk sampling program. The Bulk Sample is slated to be taken from the road accessible, outcropping Bend Vein located on the north end of the Scottie Gold Mine Project, and is expected to produce 3,000 - 4,000 tonnes of mineralized rock.  This will be a nice opportunity to learn more about a number of metrics and provide a nice proof of concept, as well as generating some non-dilutive capital for the Company in the process.
 
When reviewing their direct-ship ore strategy, Brad highlighted that Scottie has one of the closest gold projects to a deep-sea shipping terminal, which based on its location is positioned in one of North America’s cheapest commercial shipping lanes to Asia. In addition to the ease of a proposed open-pit mine, which already has an existing mine permit, there is also key external infrastructure in place, such as power lines and hauling roads right to site.
 
 Wrapping up we review the importance of the recent financing announced on July 9th, for a $16.8 million non-brokered private placement financing, of which a lead order of $6 million, translating to $8.4 million in charitable flow-through funding, will be provided by Ocean Partners UK Limited.  Brad outlines that Ocean Partners, in addition to their participation in the recent financing, has entered into a binding term sheet with Scottie to provide a commercial offtake agreement 100% production for first 8 years of commercial production, and has made available a construction loan and overrun facility of USD$25 million, to advance the Scottie DSO Project towards production.
 
 
If you have any questions for Brad regarding Scottie Resources, then please email them in to me at  Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Scottie Resources 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 Scottie Resources