The KE Report
The KE Report provides exclusive interviews with private money managers and sub $10 billion market cap stocks. Interviews are published daily to help investors navigate the markets.
Listen on:
Episodes
Tuesday Jan 20, 2026
Tuesday Jan 20, 2026
In this company update, we reconnect with Alistair Waddell, President & CEO of Inflection Resources (CSE:AUCU - OTCQB:AUCUF), to break down the company’s latest exploration results from Australia. The discussion centers on a new high-grade gold discovery at the Trangie Project, which is being advanced in partnership with AngloGold Ashanti, along with updates on several 100%-owned exploration targets that are moving toward drill testing.
Key topics covered include:
New High-Grade Gold Discovery at Trangie - A first-pass drill hole into a blind target intersected nearly 8 g/t gold over 3 meters.
Skarn Mineralization & Porphyry Upside - Discussion of the skarn-style gold mineralization and its significance as a potential vector toward larger porphyry systems, which remain the company’s primary exploration focus.
Large-Scale Air-core Drilling Program - An 83-hole air-core program is starting, acting as a broad geochemical survey to systematically vector toward priority targets across the ~15 km² project area.
100% Owned Projects & Upcoming Drill Plans - Updates on several fully owned copper-gold targets outside the joint venture, offering additional upside through low-cost air core drilling and potential future partnerships.
Funding, Budgets & Partner Support - AngloGold Ashanti continues to fully fund exploration at Trangie, while Inflection Resources maintains flexibility to advance its owned assets independently.
If you have any follow up questions for Alistair please email us at Fleck@kereport.com and Shad@kereport.com.
Click here to visit the Inflection Resources website to learn more about the Company - https://inflectionresources.com/
--------------------
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 or investment product. Investing in equities, commodities, really everything 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 ho
Tuesday Jan 20, 2026
Tuesday Jan 20, 2026
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that caught his attention in the news from 1 advanced developer expediting the move into production, along with 2 earlier-stage gold and copper exploration companies; both going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.
>> The companies we discussed in the interview are:
Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) – On Jan. 19, 2026, Montage announced that rapid construction progress continues to be made at its Koné project, in Côte d’Ivoire; where the first gold pour through the oxide circuit is now anticipated, ahead of schedule in late Q4-2026.
Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) – On January 19, 2026 Inflection provided an update on drilling completed in New South Wales, Australia under the Exploration Agreement with AngloGold Ashanti Australia Ltd. High-grade gold was intersected in a new standalone target area within the Trangie district. Drill hole TRNDH032 returned 3.0 metres grading 7.72 g/t gold from skarn-style alteration. 83 air-core drill holes are planned to commence on the Trangie project in February to follow-up on the recent intercept in hole TRNDH032 and earlier porphyry gold-copper mineralisation intersected in hole TRNDH023; and
K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) – On January 19, 2026) K2 Gold announced its plan to commence drilling at the Company's Si2 Project, located near Tonopah, Nevada, on or about January 21, 2026. The drill program will test a series of high-priority structural and geochemical targets generated through comprehensive geological studies completed in 2025, along with recently acquired geophysical information, including fluid-inclusion analysis, alteration mineralogy, age dating, an integrated structural interpretation, and IP survey. These studies collectively indicate that Si2 represents the upper levels of a large, intact low-sulphidation epithermal system, and the drill program is fully funded and will consist of up to 2000 metres over 4-6 drill holes.
* 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
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.
Monday Jan 19, 2026
Monday Jan 19, 2026
Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins us for a review of Q4 and full-year 2025 operations, production, and financial metrics from its Segilola Gold mine, and the Company’s ongoing exploration and development programs across Nigeria, Senegal and Cote D’Ivoire.
Q4 and Full Year 2025 Segilola Highlights
Q4 gold poured of 23,719 ounces ("oz")
FY 2025 gold poured totaled 91,910oz
Gold produced from 242,182 tonnes milled at an average grade of 3.31 grammes per tonne ("g/t") of gold ("Au") and process plant recovery of 94.8%
Gold sales in Q4 2025 of 25,830oz at an average realized price of US$4,189 resulting in record quarterly revenue of US$108 million
Q4 record cash balance of US$137 million
Q4 bullion inventory of 3,188oz (unaudited)
Q4 Dividend
In addition to the standard Q4 Dividend of C$0.0125 per share, the Company will pay an additional bonus dividend payment of C$0.015 per share. The total dividend payable for Q4 will be C$0.0275 per share
FY 2026 Outlook and Catalysts
FY 2026 production guidance range set at 75,000 to 85,000 oz of gold
FY 2026 All-in Sustaining Cost ("AISC") guidance range set at US$1,000 to US$1,200 per ounce
Douta Preliminary Feasibility Study expected on 26 January 2026
Extensive drilling programs across all the Company's exploration portfolio, with 5 rigs turning at Segilola, 3 rigs turning at Douta, and 2 rigs turning in Ivory Coast
Ongoing Exploration Programs in all 3 jurisdictions:
Segilola - underground drilling program is ongoing, and there is the continuation of scout drilling programs on identified targets across Nigeria
Senegal – expanded Douta license, additional RC drilling targeting additional oxide resources
Cote D'Ivoire - Guitry and Boundiali licenses, continuation of geochemical work programs and initial drill program on identified targets. Marahui Project mapping and rock sampling progressed with early-stage drill targets in focus for 2026.
If you have any questions for Segun regarding Thor Explorations, then please email them into us at Fleck@kereport.com or Shad@kereport.com
In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview and may choose to buy or sell shares at any time.
Click here to follow the latest news from Thor Explorations
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.
Monday Jan 19, 2026
Monday Jan 19, 2026
In this KE Report company update, we’re joined by Eric Roth, President & CEO of Capella Minerals (TSX-V: CMIL - OTCQB: CMILF), to discuss a newly signed earn-in agreement on the Solana IOCG Project in southern Spain.
Capella has the option to earn up to 75% ownership through a phased exploration and development strategy. This marks a strategic expansion beyond the company’s core Scandinavian focus, while maintaining exposure to high-potential copper-gold systems.
Eric walks us through what attracted Capella to this underexplored historic mining district, outlines the exploration strategy, and explains how Solana fits into a broader, multi-project pipeline that includes active drilling in Finland and upcoming programs in Norway.
If you have any follow up questions for Eric please email me at Fleck@kereport.com.
Click here to visit the Capella Minerals website to learn more about the Company.
------------------
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.
Saturday Jan 17, 2026
Saturday Jan 17, 2026
This Weekend Show pairs a “big-tent” market roadmap with a boots-on-the-ground metals deep dive. Mike Larson previews what investors can expect at The MoneyShow Las Vegas (Feb 23–25) and the themes gaining traction in 2026 - from AI-adjacent winners to income plays in a choppy tape. Then Dave Erfle tackles the silver surge head-on, arguing this spike is structurally different (supply-driven, not purely speculative) while explaining the disconnect: why silver equities aren’t currently delivering the leverage many investors expected.
Segment 1 & 2 - Mike Larson, editor-in-chief of MoneyShow, joins the KE Report to preview the upcoming MoneyShow Las Vegas conference and discuss its broad, generalist focus, key 2026 investment themes, and how investors can best navigate education, networking, and market volatility across asset classes including AI, metals, income strategies, and macro trends.
Click here to find out about the upcoming MoneyShow conferences - https://www.moneyshow.com/
Segment 3 & 4 - We’re joined by Dave Erfle, founder and editor of Junior Miner Junky, to discuss why silver’s explosive rally is fundamentally different from past spikes - driven by critical industrial demand, ongoing supply deficits, and global physical market dynamics - along with what any correction could mean for physical metal versus equities and where he’s finding opportunity across gold, silver stocks, and copper.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.com/
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!
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 or investment product. Investing in equities, commodities, really everything 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.
Friday Jan 16, 2026
Friday Jan 16, 2026
In this KE Report Daily Editorial (Friday, January 16), we’re joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Marc to Market website. Marc breaks down the biggest macro drivers shaping markets early in 2026 - spanning U.S. policy uncertainty, central bank crosscurrents, global capital flows, and energy geopolitics.
Key discussion points include:
Supreme Court, Tariffs, and Market Risks - Marc outlines why investors are closely watching the Supreme Court’s pending decision on tariffs tied to emergency powers, what different outcomes could mean for stocks and the U.S. dollar, and why tariffs are unlikely to disappear regardless of the ruling.
Fed Policy, Inflation, and Economic Data - We discuss the disconnect between rising U.S. manufacturing output and declining manufacturing jobs, the role of automation, and how tariffs have influenced inflation. Marc also shares his outlook for the U.S. economy, interest rate cuts, and the significance of rising Treasury yields.
Global Central Banks, FX, and Energy Markets - The conversation widens to global policy dynamics, including Japan’s yen volatility, capital flows into U.S. assets, and why oil prices have remained relatively stable despite ongoing geopolitical tensions and shifting trade relationships.
Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/
--------------------
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 or investment product. Investing in equities, commodities, really everything 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.
Friday Jan 16, 2026
Friday Jan 16, 2026
Key topics covered include:
Battery optimization and fast-charging performance
Energy density expectations and scaling challenges
Super G testing and battery industry engagement
Thermal XR EPA approval and U.S. rollout
2026 growth strategy and commercialization plans
In this KE Report company update, we welcome back Craig Nicol, Founder and CEO of Graphene Manufacturing Group (TSX-V: GMG | OTCQX: GMGMF), to address a wide range of listener-submitted questions following the company’s EPA approval for THERMAL-XR®.
Craig provides clear updates on GMG’s battery development progress, including ongoing optimization work, fast-charging performance, and realistic energy density expectations as the technology moves toward larger-scale cells and eventual commercial testing.
The conversation also dives into Super G graphene testing with battery industry participants, the final steps toward shipping THERMAL-XR® into the U.S., and the massive market opportunities across air conditioning, data centers, and industrial cooling.
Craig closes with an overview of GMG’s key priorities for 2026, including scaling production, expanding into North America, and converting technical validation into meaningful commercial sales.
Please keep the questions coming! Email me at Fleck@kereport.com.
Click here to visit the GMG website to learn more about the Company.
-------------
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 or investment product. Investing in equities, commodities, really everything 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.
Friday Jan 16, 2026
Friday Jan 16, 2026
James Anderson, Chairman & CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me to highlight their recently closed transformational acquisition of the Bolanitos Gold-Silver Mine from Endeavour Silver, and how this augments the current production profile of the company, as well as synergies with processing and improving efficiencies.
Bolanitos is the Company's fifth producing precious metals mine in Mexico. Located adjacent to Guanajuato Silver's San Ignacio mine, the 1,600 tonnes per day Bolanitos flotation plant is currently under-utilized and has significant capacity for increased throughput and production. Bolanitos is a gold mine and silver mine which will further enhance the Company's position as a growing precious metals producer in Mexico. In total, the Company will operate three primary silver mines (Topia, Valenciana, and El Cubo) and two primary gold mines (Bolanitos and San Ignacio).
Guanajuato Silver has acquired Bolanitos for total consideration of up to US$50 million (the "Transaction"), consisting of (i) upfront consideration of US$40 million which was paid on closing and was comprised of US$30 million in cash and US$10 million of Guanajuato Silver common at a deemed price of US$0.2709413 (Cdn$0.3815) per share. and (ii) contingent consideration of US$10 million ((ii) In addition to the Upfront Consideration, Guanajuato Silver will make two contingent payments to Endeavour, each being US$5 million, upon achieving production of two million ounces of silver-equivalent and four million ounces of silver-equivalent, respectively. Each Contingent Payment will be satisfied 50% in cash and 50% in Guanajuato Shares.
We discussed how the incorporation of the San Ignacio Mine into the Bolanitos Mines Complex is expected to rapidly generate improved economics and expanded mine life. Mineralized material mined at San Ignacio will now be transported to the nearby 1,600 tonnes per day Bolanitos flotation plant; as Bolanitos and San Ignacio are contiguous to one another, this is expected to dramatically reduce transportation costs and increase utilization at the Bolanitos mill. This has allowed the Company to put the Cata processing plant on care and maintenance, with the goal to have over 85% utilization at the Bolanitos and El Cubo plants in 2026.
Another aspect of this deal also includes the acquisition of the historic Cebada mine, which is located contiguous and to the north of the Company’s Valenciana Mines Complex (VMC). The Company intends to reactivate Cebada, which is currently on care and maintenance, as an important exploration and development project. This led to us highlighting the other historically producing mines in the portfolio like Pinguico and El Horco, that will have an exploration and development work on tap in 2026, focusing on the future growth of the Company. The plan is for 44,000 meters of exploration drilling to be completed across all projects this year.
If you have any follow up questions for James on Guanajuato Silver, then please email them into me at Shad@kereport.com.
In full disclosure, Shad is a shareholder of Guanajuato 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 Guanajuato 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.
Friday Jan 16, 2026
Friday Jan 16, 2026
In this Company Update, Alain Lambert, CEO of Prismo Metals (CSE: PRIZ | OTCQB: PMOMF | FSE: 7KU), discusses the transition into the drilling phase at the Silver King project and the increase in ownership of the company’s copper asset, Hot Breccia.
Prismo Metals is entering 2026 with high-grade exploration success and improved project control. Following a flurry of activity in late 2025, the company has confirmed high-priority targets at Silver King through sample assay and Induced Polarization (IP) results. Simultaneously, Prismo has cleared the path for systematic development at Hot Breccia by upping its ownership to 95%.
Key Discussion Points:
Silver Kings IP Results IP data and sampling confirm favorable geology and multiple drill-ready targets.
High-Priority Targets Black Diamond, Crown Porphyry, and Polymetallic Vein targets remain the focus.
Near-Term Drilling A fully funded 2,000-meter drill program is pending final permit approval.
Hot Breccia Ownership Increase Prismo boosts ownership to 95%, improving strategic partnership potential.
Click here to visit the Prismo Metals website
---------------
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.
Thursday Jan 15, 2026
Thursday Jan 15, 2026
Scott Petsel, President of Metallic Minerals (TSX.V:MMG – OTCQB:MMNGF), joins us for a comprehensive review of all the 2026 catalysts on tap at the La Plata Copper-Silver-PGM Project in Colorado, along with the Keno Silver Project and their portfolio of gold alluvial royalty claims in the Yukon.
We start off taking a deeper dive into the value proposition of coming updated Resource Estimate due out in Q1 this year at their flagship La Plata Copper-Silver Project, near Durango, Colorado. Scott outlines that around 4,500 additional meters drilled have not yet been added into the existing 1.21-billion-pound copper and 17.6-million-ounce silver inferred mineral resource, and that the upcoming resource update will also add in resource values from gold, platinum, and palladium for the first time; which have not previously been included.
We also reviewed the growing interest in other critical minerals on the project like tellurium, vanadium, scandium, gallium, lanthanum, and yttrium and if this may entice more interest from the US government in providing support for fast-tracking the development of this project.
The Company is in the planning phase at this point to determine this year’s exploration plan for both expanding known mineralization, and also testing a few more of the 10-15 other potential porphyry target across their land package. This district-scale exploration would be of interest to their strategic partners at Newmont Corporation, that has maintained their 9.5% strategic equity investment in Metallic Minerals due to their interest in the prospectivity for both copper and precious metals at the La Plata Project.
Next we shifted over to the Keno Silver project, where more drilling was completed last year, and there are plans to gear up more drilling again in this 2026 exploration season. Scott also highlights how the big rise in silver prices may actually expand mineralized inventory at this Project, which hosts a defined 18.16 million ounces of silver equivalent (inferred), over 4 deposits (Formo, Fox, Caribou and Homestake). The board is currently evaluating the exploration program for Keno Silver in the 2026 season.
Wrapping up, we discussed the gold and silver royalty portfolio across their alluvial mining claims in the Yukon Territory, Canada. Now in its third consecutive year of gold production, Metallic Minerals expects record royalty revenues in 2025 from its Australia Creek and nearby Dominion Creek properties. Both areas lie within the heart of the historic Klondike Goldfields, which have produced more than 20 million ounces of gold since the legendary 1898 gold rush.
The Company also holds substantial alluvial claims in the Keno Hill silver district, overlapping its high-grade Keno Silver Project, where over 16,000 ounces of alluvial gold were produced from 2015 to 2021. Exploration programs launched in September at both Australia Creek and South Keno included drilling and geophysical surveys to define new zones of recoverable native gold and silver and to advance future royalty-based production and add in new operating partners this year from these large-scale alluvial systems.
If you have any follow up questions for Scott on Metallic Minerals, then please email us at Fleck@kereport.com or Shad@kereport.com.
Click here to follow the latest news from Metallic Minerals
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.