The KE Report

In this company update, Kiran Patanker, President and CEO of Maple Gold Mines (TSX-V: MGM - OTCQB: MGMLF - FSE: M3G) joins us to recap Maple Gold’s recently completed and fully released 12,000‑meter drill program at the Douay Project in Quebec. This was an upsized campaign, from 10,000 to 12,000 meters, targeting growth beyond the current 3Moz gold resource.
Key discussion points:
Strategy & Goals: Expanding and upgrading the Douay resource through down‑plunge extensions and targeted step‑outs in zones like Nika and 531.
Standout Results: • Nika Zone - 2.1 g/t Au over 108m, including multiple high‑grade intercepts. • 531 Zone - 15m @ 4.9 g/t Au, 11.4m @ 3.7 g/t Au, and more significant depth extensions.
Efficient Execution: Delivered at ~$300/m all‑in cost vs. $400 budgeted, covering six zones across 21 holes.
Next Steps: Upcoming updated Mineral Resource Estimate, plans for follow‑up drilling in high‑grade zones, and advancing exploration across the 500 km² land package.
Maple Gold aims to grow its 3Moz resource toward 5Moz by combining open‑pit optimization with new bulk‑tonnage underground potential.
 
Please email me your follow up questions for Kiran. My email address is Fleck@kereport.com. 
Click here to visit the Maple Gold Mines website to learn more about the Company.

In this KE Report company update, I’m joined by Garrett Ainsworth, President & CEO of District Metals (TSX.V:DMX - OTCQB:DMXCF - Nasdaq First North: DMXSE SDB), for a deep dive into the company’s ongoing and upcoming work across its uranium portfolio in Sweden.
Key topics covered:
Share price momentum: District’s stock has moved sharply higher since May with strong volume, driven by improving uranium market sentiment, ongoing project work, and potential inclusion in the Global X Uranium ETF (URA).
Flagship Viken Project: Recent mobile MT survey results are mapping depth and thickness of the Alum Shale formation with unprecedented clarity - critical groundwork for selecting the best target area for an upcoming PEA.
Broader exploration portfolio: Updates on radiometric and magnetic surveys at Ardnasvarre, Säckjärn, and Nianfors, each hosting historic uranium mineralization with strong grades.
Uranium moratorium progress: Sweden’s legislative process to lift the moratorium remains on track, with potential government votes expected in Q4 2025, positioning District to move quickly once approvals are in place.
Near-term catalysts: Multiple data releases expected in coming months, including survey results, drill assays from Tomtebo, and updates on Sweden’s legislative timeline.
Garrett also shares how District is preparing to prioritize its projects, balance work on high-grade prospects, and potentially partner on non-core assets - all while staying ready to advance Viken as soon as policy changes allow.
 
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.

In this interview, we introduce Tero Kosonen, Chairman & CEO of FinEx Metals (TSX.V:FINX), a newly listed exploration company with five projects in northern Finland, highlighted by the Ruoppa Project. FinEx is part of the NewQuest group, known for backing discovery‑driven exploration companies like Headwater Gold and Inflection Resources.
Key discussion points:
Strategic land position: Ruoppa lies just 17 km from Agnico Eagle’s Kittilä Mine and near Rupert Resources’ high‑grade Ikkari discovery.
Exploration progress: Four years of groundwork including geophysics, trenching (highlight grab sample of 95.1 g/t Au), and top‑of‑bedrock drilling.
Upcoming catalysts: A fully permitted maiden drill program starting in days (12-14 holes, ~2,500m) with results expected by mid‑September to early October.
Strong team & infrastructure: Led by experienced Finnish geologists with excellent government relationships and support, operating in a region with roads, power, and year‑round access.
Portfolio beyond gold: Additional permitted projects include nickel‑PGM‑cobalt targets in eastern Lapland with potential for partnerships.
FinEx is well‑funded (~C$4M treasury) and positioned in one of the world’s most prospective yet underexplored belts. Investors are watching closely for early drill results that could signal a new discovery.
If you have any follow up questions for Tero please email us. Fleck@kereport.com and Shad@kereport.com. 
Click here to visit the FinEx Metals website to learn more about the Company.

Mike Larson, Editor-in-Chief at Money Show, joins us to recap insights from the recent MoneyShow Conference in Las Vegas and tie them into today’s market trends.
In this interview:
A remarkable rebound in global markets after April’s volatility
Strong interest in commodities and metals beyond gold - silver, copper, platinum, palladium
Why retail investors are more informed and active than ever
How a shift away from the traditional 60/40 portfolio is fueling interest in hard assets
Thoughts on meme-stock resurgence, crypto adoption, and why oil is lagging
Mike also shares how investors are positioning amid tariff negotiations, global supply-chain priorities, and a broadening bull market that spans U.S. equities, international markets, and resource stocks.
Click here to find out about the upcoming MoneyShow conferences.

In this KE Report interview, I speak with Tim Clark, President & CEO of Fury Gold Mines (TSX:FURY - NYSE:FURY), and Brian Atkinson, Senior Vice President of Exploration.
Key topics covered:
Lithium discovery at Elmer East: Context on the recent results from the Quebec Precious Metals acquisition and Fury’s strategy to monetize non‑core assets while staying focused on gold.
Committee Bay Drill Program (Nunavut): A 5,000m campaign with 7-10 holes targeting new shear‑zone horizons and step‑outs from high‑grade 2021 intercepts.
Sakami Project (Quebec): Ongoing 3,000-5,000m drilling confirming historical high‑grade shoots and advancing toward a potential resource estimate.
Corporate catalysts: Agnico Eagle’s participation at Committee Bay, a strong $60M+ treasury, and a strategy designed to add value and attract partners across the portfolio.
With two active drill programs and multiple catalysts ahead, Fury is positioning itself as a best‑in‑class junior explorer in a commodities bull market.
If you have any follow up questions for Tim or Bryan please email me at Fleck@kereport.com. 
Click here to visit the Fury Gold Mines website to learn more about the Company and read over the recent news.

In this KE Report company update, we speak with Caleb Stroup, President & CEO of Headwater Gold (CSE:HWG - OTCQB:HWAUF), about a significant new development for the company.
Headwater Gold has signed a Letter of Intent (LoI) with OceanaGold to explore three Nevada projects - TJ, Jake Creek, and Hot Creek - with the potential for OceanaGold to earn up to 75% interest by spending US$65M and advancing the projects through to pre-feasibility studies.
Key topics discussed:
The structure of the OceanaGold partnership and earn‑in stages
Work already completed at TJ, Jake Creek, and Hot Creek
How this new partnership complements Headwater’s existing deal with Newmont
Headwater’s hybrid model: retaining 25% carried interest plus a royalty while operating partner‑funded projects
Near‑term plans, including drill programs and potential self‑funded exploration
This LoI highlights Headwater’s ability to secure partnerships with major producers while maintaining significant upside for shareholders.
Please email your questions for Caleb to us at Fleck@kereport.com and Shad@kereport.com. 
Click here to visit the Headwater Gold website to read over the recent news.

In this KE Report daily editorial, I’m joined by Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets. Darrell oversees the firm’s commodities trading desk and offers a unique perspective on the markets - focused on hedging, volatility, and positioning through uncertainty.
In this interview, we review key themes from Darrell’s recent presentations at the Las Vegas MoneyShow and dig into where investors are focusing in 2025.
Key topics covered:
Year‑to‑date commodities review: Precious metals and copper leading the pack; top four performers are platinum, copper, silver, and gold.
Tariffs, correlations, and drivers: Why dollar correlations are breaking down and how tariffs are reshaping physical flows in metals.
Copper staying strong: How tariffs and infrastructure demand are driving record‑high Comex copper, even while global supply remains constrained.
Energy lagging: Why crude remains range‑bound with downside risk despite low inventories, and why natural gas fundamentals look more constructive.
Rotation potential: Will investor flows broaden into lagging commodities like grains and softs in the second half of 2025 and into 2026?
Darrell also shares insights on trading volumes, hedging behavior, and how muted tariff reactions are shaping day‑to‑day market moves.
Click here to learn more about Bannockburn Capital Markets.

In this KE Report company update, we speak with Charles Funk, President and CEO of HelioStar Metals (TSX.V:HSTR - OTCQX:HSTXF - FRA: RGG1), to break down the company’s latest milestone: the restart of mining operations at the San Agustin mine in Mexico, with production expected in Q4 2025.
Key discussion points:
Receipt of key permits enabling pit expansion and leach pad height increase
CapEx of only ~$4.2M with an estimated $40–50M in cash flow from San Agustin
Steps toward stacking ore in Q4 and generating immediate production
Near‑term exploration plans: oxide drilling for mine‑life extensions and sulfide targets for long‑term upside
Clear growth trajectory - from 30-40K ounces in 2025 to 150-200K ounces/year by 2028 with minimal dilution
HelioStar’s strategy blends near‑term production with ongoing exploration upside across assets like Ana Paula and La Colorada.
 
Please email me at Fleck@kereport.com with any follow up questions for Charles. 
Click here to visit the Heliostar Metals website to learn more about the Company.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the 3 pre-discovery gold and copper exploration companies, that have large Tier 1 drill targets and the potential for rapid upside moves if they make a compelling discovery and hit with the drill bit on current programs.
 
  >> The companies we discussed in the interview are:
 
Rackla Metals Inc. (TSX-V: RAK) (OTC: RMETF) – On July 14th, 2025 Rackla Metals announced that drilling and had commenced at the BiTe zone on the Grad property NWT.  The Grad property was staked in July of 2024, and immediate prospecting defined strong gold mineralization at the base of the south facing cliff.  Further sampling in August identified significant sheeted veining hosted in the intrusive and that combined with the gold, bismuth and tellurium geochemistry made it clear that the Company had discovered a compelling Reduced Intrusion-related Gold Systems (RIRGS) occurrence that had never previously been identified or staked.
 
Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) – On July 21, 2025, Inflection Resources announced that it completed the acquisition of an 100% interest in a portfolio of copper-gold projects in the Northern Territory and New South Wales, Australia from subsidiaries of Newmont Corporation. This provides the company optionality on how to advance those properties. The main near-term value drivers will be when more assays get released from any of their four projects that JV option partner AngloGold Ashanti elected to advance to Phase II earn-in. The four Designated Projects are Duck Creek, Trangie, Crooked Creek and Nyngan.
 
Westward Gold Inc. (CSE: WG) (OTCQB: WGLIF) - On July 8, 2025, Westward Gold announced that drilling is underway at its flagship Toiyabe Hills Property in Lander County, Nevada. Over the next several months, Westward will be testing its Campfire Target Complex for the first time, with approximately 5,000 metres (~16,500 feet) of reverse-circulation (“RC”) drilling across this top-priority zone within the ~61 square-kilometer consolidated Property.
 
 
* 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

In this KE Report daily editorial (July 22), we speak with Dave Erfle, Founder and Editor of the Junior Miner Junky, to unpack what’s driving the precious metals momentum and how the sector is setting up into the back half of the year.
Key discussion points:
Gold Majors Reignite: Agnico and Newmont posting strong moves as gold attempts a breakout above $3,450.
Technical Setups: Dave compares today’s action to previous bullish consolidations and shares key resistance levels on GDX and silver.
Valuation Disconnect: Juniors with proven ounces still trading at fractions of in‑ground value despite rising margins for producers.
M&A Outlook: Who might start buying - majors or mid‑tiers - and why high‑capex projects could slow deals.
Forward-Looking Strategy: Why Dave expects $4,000 gold and $50 silver, and how investors can position for more upside.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.