The KE Report

Fred Bell, CEO of Elemental Altus Royalties (TSX.V:ELE) (OTCQX:ELEMF), joins me to unpack the transformative news announced on June 12th, where Tether Investments has just positioned as their largest strategic shareholder and cornerstone investor.  We discuss what this deal means for the precious metals and royalty sector where a crypto company can deploy such large sums of capital, and more importantly what it means for future deal flow and acquisitions for Elemental Altus Royalties.
 
Tether completed the acquisition of 78,421,780 common shares of Elemental Altus from La Mancha Investments S.a.r.l. at a price of C$1.55 per share, representing approximately 31.9% of the issued and outstanding common shares. When combined with the 4,360,511 shares already owned by Tether, Tether will now own an aggregate of 82,782,291 common shares, representing approximately 33.7% of the issued and outstanding shares in the Company.
 
Tether has further announced that it has entered into an option agreement with AlphaStream Limited and its wholly-owned subsidiary Alpha 1 SPV Limited pursuant to which Alpha 1 granted Tether the option to acquire, subject to certain conditions, an aggregate of 34,444,580 common shares owned by Alpha 1. On exercise of this option, Tether would own 117,226,871 common shares, representing approximately 47.7% of the issued and outstanding common shares.
 
We also touched on the news out on June 24th where Gleason & Sons LLC announced it had acquired nearly one million common shares of Elemental Altus Royalties via ongoing open market purchases. The rationale from Stefan Gleason was that the Company has paid off all debt, booked its most profitable quarter ever in Q1, and streamlined its governance structure.
 
Fred and I discussed the rationale behind Tether positioning both dollars and gold in their 2 stablecoins, and that Elemental Altus was them positioning using their Teather Investments vehicle for longer-term appreciation, and that they were very keen on the lower risks and high revenue per employee ratio of royalty companies for acquiring more exposure to future gold equivalent ounces of production.  The mandate that they reiterated to the management team of Element Altus Royalties was to keep growing the business in a responsible and efficient manner.
 
We spent the balance of the discussion talking about what this means for future deal flow and acquisitions.  Fred highlighted the size and scale of potential future deals with their already strong balance sheet, cash on hand and free cashflow generation on tap for this year, and their revolving credit facility, giving them upwards of $80 million in funding for deals moving forward; before Tether even got involved.
 
 
If you have any follow up questions for Fred regarding Elemental Altus Royalties, then please email them to me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Elemental Altus Royalties at the time of this recording, and may choose to buy or sell shares at any time.
 
Click here to view recent news on the Elemental Altus Royalties website

The commodity bull market is alive across multiple fronts—from explosive moves in silver and platinum to broad-based strength in equities. Dana Lyons shares what his trading models are flashing now, while Brien Lundin makes the case that we’re still early in this precious metals bull market.
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Segment 1 & 2 - Dana Lyons, fund manager and editor of The Lyons Share Pro, returns to share why his models remain bullish on U.S. equities, with the S&P and Nasdaq approaching all-time highs and strong market breadth supporting the rally. He also dives into key commodity setups, noting oil remains weak below its multi-year range, while silver’s breakout above $35 appears constructive. Dana is positioned in silver ETFs (SLV, SIL, and SILJ) and sees potential in copper equities like COPX and COPJ, though he remains cautious on platinum after its sharp surge. He highlights growing strength in international and emerging markets as the U.S. dollar breaks down, and favors Bitcoin over Ethereum for further gains in the crypto space.
Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services. 
 
Segment 3 & 4 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, joins us to explain why the current gold bull market is the most powerful and unique in over two decades. He attributes the strength to unprecedented central bank buying, which has led to shallow corrections and delayed but now accelerating interest in silver, mining stocks, and junior explorers. Brien also discusses how the broader commodity reflation trade, driven by global demand for raw materials, is lifting copper and platinum, and highlights compelling investment opportunities in undervalued developers and copper explorers amid a tightening M&A and financing environment.
Click here to learn more about the New Orleans Investment Conference on November 2-5.

Trey Wasser, CEO and Director of Dryden Gold Corp (TSX.V: DRY) (OTCQB: DRYGF), joins me for a special video overview of the 4 key focus areas for this year’s exploration program, across their Dryden Gold District land package in Northwestern Ontario.  We start off with a big-picture geological framework for the property, then vector in on the 3 key deformation events in the Gold Rock Camp, but then also discuss the different geological settings found in the Sherridon and Hyndman areas.
 
After outlining the D1, D2, and D3 structural trends in the Gold Rock Camp, Trey takes us through what has been learned from combining this new understanding with a number of past and more recent drill holes along both the Big Master and Elora Gold trends.  Some of the most recent drill core has been seen carrying visible gold and returned high-grade assays from around the Elora-Jubilee target, as well as news announced earlier this month from the historical Laurentian Mine Target and the Pearl Target (formerly known as the Intersection Target). This drilling all along the Elora Gold System has shown an improving understanding of the multiple stacked shear zones and veins structures along this trend, and is part of the on-going 15,000 meter drill program underway, but there are other regional targets that will be tested
 
Next we shifted up to the Mud Lake target area, and how these same 3 geological deformation faults and folds are present here as well, further along the Gold Rock Camp trend.  Trey goes on to highlight that there is a periodicity to this system where there are even more targets to the Northeast and Southwest along this 20km strike length that demonstrate similar geological properties that are being mapped, sampled, and advanced towards targeting for future drill programs.
 
Wrapping up we discuss the 3rd area of focus at Sherridon; where detailed mapping from 2024 has exposed multiple drill ready targets and it’s unique geological setting that is different than the Gold rock Camp.  Then we pivoted over to the 4th area of focus at the Hyndman regional target, and how its geological setting is different than the other areas, but also presents compelling drill targets from all the early field exploration campaigns.  These areas will all see more exploration testing through the balance of this year.
 
 
If you have any questions for Trey regarding Dryden Gold, then please email me at Shad@kereport.com.
 
In full disclosure, Shad is a shareholder of Dryden Gold at the time of this recording.
 
Click here to follow the latest news from Dryden Gold

In this company update, I’m joined by Tara Christie, President and CEO of Banyan Gold (TSX.V:BY - OTCQB:BYAGF), to discuss the June 25th drill results from the Airstrip Deposit at the AurMac Gold Project in Yukon.
After focusing much of the recent drill work at the Powerline Deposit, Banyan is revisiting Airstrip - the original discovery zone - with near-surface, high-grade results. Highlights include:
38 meters of 3.8 g/t gold,
16 meters of 9.32 g/t gold, and
28 meters of 1.3 g/t gold starting just 10 meters from surface.
Tara explains how recent metallurgical testing (90–93% recoveries) supports a future mill-based operation, making Airstrip more economically viable than initially assessed. The company is now actively stepping out to the north, east, and west, tracing a felsic dyke contact zone believed to be linked to higher grades.
 
Key topics covered:
The evolving role of the Airstrip Deposit in the overall resource model.
How real-time data modeling is optimizing drill targeting.
Drilling strategy adjustments with over 18,000 meters completed out of a planned 30,000+ meter program.
Exploration potential at depth and between Powerline and Airstrip, including follow-up of geophysical targets.
Timeline and approach to news flow as results from Powerline and other areas continue to come in.
Read the full news release (June 25th): https://banyangold.com/
If you have any follow up questions for Tara please email me at Fleck@kereport.com.

Mike Burke, Director and VP of Corporate Development, returns to provide an exploration update from the ongoing 30,000-meter drill program at the RC Gold Project in the Yukon’s Tombstone Gold Belt.
Key Theme: Sitka hits 211m of 1.13 g/t Au, including 73m of 2.04 g/t Au, at the Blackjack Deposit – the first hole of its summer drill program.
 
Discussion Highlights:
Summer Drill Results Begin: Hole 77 delivers strong results from the Blackjack Zone, validating expansion potential with broad and higher-grade intercepts.
3-Zone Strategy: Sitka is advancing drilling across Blackjack, Saddle, and Eiger zones - 15,000m allocated - plus targeting Rhosgobel with 10,000m.
Deep Expansion Potential: Winter Hole 76 extended deeper into mineralization; Sitka is building out an underground model to complement near-surface ounces.
Early Assay Progress: Over 10,000m drilled across 23 holes - completed ahead of schedule and under budget. Company has the flexibility and cash to expand beyond 30,000m.
Rhosgobel Discovery: First three holes in this year’s program show visible gold, following last year’s 119m of 1.05 g/t Au in first-ever diamond drilling at this target.
Lab Turnaround & Yukon Activity: Assay delays are building as multiple companies ramp up big programs, but Sitka uses visible gold to guide ongoing drilling.
 
If you have any follow up questions for Mike please email me at Fleck@kereport.com. 
Click here visit the Sitka Gold website to learn more about the Company.

Markets continue to defy expectations, and even war headlines, as the S&P 500 flirts with all-time highs and commodity prices climb. In this interview, Joel Elconin, Co-Host of the PreMarket Prep Show and Co-Founder of the Stock Trader Network, returns to share his insights into what’s driving this resilient "Goldilocks" market.
 
Key topics discussed include:
Why Joel calls this a “crazy” market: S&P rallies despite US missile strikes, geopolitical tensions, and mixed economic data.
The Fed’s indecision and macro ‘nothing-burger’: Markets appear unbothered by mild inflation, slightly higher unemployment, and a divided Fed.
Commodity breakout: Copper above $5, surging platinum, silver, and industrial metals hint at underlying growth and demand strength.
US Dollar weakness: Down over 10% YTD, fueling both equity and commodity rallies while helping exports.
Upcoming catalysts - or threats?: China, Iran, and Middle East escalation loom as the main wildcard risks.
Joel’s technical take: What the S&P cash index is telling him heading into quarter-end and what levels matter most now.
 
Click here to visit Joel’s PreMarket Prep website.
Click here to visit the Stock Trader Network.

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins us to review the macroeconomic market movers he is watching and he outlines why he is still bullish but holding off on adding to positions in gold, silver, and copper stocks, but that he has been adding to positions in dividend-paying oil stocks and rare earth stocks.
 
We start off looking at the financial macroeconomic factors coming back into focus this week and moving forward, now that some of the recent noise from geopolitics has faded back down.  He is not convinced in that the tariff implications are behind us, but believes the market is largely shrugging off the pause coming off of the reciprocal tariffs, and that it is likely that many of them just get pushed off further into the distance. He believes the large upcoming tax and spending bill in the US is going to mean more debt and deficits, which is a negative longer-term, but that the tax cuts are seen as a market boon because they will allow citizens to hang onto more of their own money, and thus those excess funds will find their way into the stocks markets.  Sean notes the continued weakness we’ve in the US long bond, US dollar, and business guidance through year end.
 
We discussed the fact that the gold price had surged higher in April, well before the geopolitical conflict even began between Iran and Israel, so there wasn’t really any war premium to come out of the PMs, despite those recent narratives being spun. Sean noted that after seeing gold channeling sideways the last couple of months at historically very high levels, that it needed to rest. In a similar sense, after Silver broke up through long-term $35 resistance, and got up to hit $37 briefly, that it made sense for it to pull back down and retest the area of the breakout, and that this is healthy overall.
 
With regards to the precious metals equities, Sean is mostly holding onto the names that he and his subscribers have purchased over the last few months, but did sell his Equinox Gold Corp.(TSX: EQX) (NYSE American: EQX) position a few weeks back to free up some funds to be able to rotate down into more gold developers and silver stocks once he believes this current pullback has bottomed.
 
Next we shifted over to the steadily climbing copper price, noting that we’ve actually seen some life in the copper junior stocks, where (COPJ) has been outperforming (COPX) or (ICOP).   While he agreed this move higher in copper and the copper equities has been positive, and based on strong fundamental drivers, he’s not that animated by investing in the copper juniors, and hasn’t traditionally fared well in them.
 
Wrapping up, Sean did mention that he has been animated accumulating the better run intermediate oil stocks that pay good dividends even at current WTI oil prices, and specifically mentioned Granite Ridge Resources, Inc. (NYSE: GRNT) as an example of the type of oil stock that has his attention.   We also discussed why he is bullish on rare earth stocks that have exposure to downstream processing and separation, and he highlighted why he likes MP Materials Corp. (NYSE: MP).
 
Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends
 
Click here to learn more about Resource Trader

In this KE Report company update, we’re joined by Chris Donaldson, President and CEO of Valkea Resources (TSX.V:OZ - OTCQB:OZBKF - FSE:S600), to discuss the $4.1 million upsized financing closed on June 25th and how it positions the company for its next exploration phase in Finland.
Originally targeting $3 million, Valkea attracted major strategic investors including:
Michael Gentile (9.9%) - Now a strategic advisor, known for supporting high-conviction resource plays
Primevest Capital Corp. (9.9%) - Led by experienced commodities investor Ryaz Shariff
Chris outlines how this capital will support a summer drill program at the Paana Project, targeting gold zones already showing strong mineralization and situated next to major players like Agnico Eagle, Rupert Resources, and B2Gold.
Interview highlights:
Breakdown of the financing structure and investor interest
Drill strategy focused on the Koivu and Honka zones with follow-up on prior hits
Plans for base-of-till drilling and potential resource expansion
Updates on JV progress with Rupert Resources and valuation potential across the Lapland portfolio
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 interview, we welcome back Colin Padget, President and CEO of Founders Metals (TSX.V: FDR - OTC: FDMIF - Frankfurt: 9DL0), to recap a major two-day news release cycle. On June 23rd, the company released a comprehensive mid-year exploration update, followed by the June 24th announcement of a new high-grade gold discovery at the Maria Geralda target.
 
Key topics discussed:
Maria Geralda Discovery: A new zone with little to no historic work, now delivering 22.5m of 11.94 g/t Au. Colin explains how this fits into the broader structural trend between Lower Antino and Van Gogh.
Follow-Up Plans at Maria Geralda: Initial three-hole drill program shows strong results, with more trenching, surface auger work, and step-back drilling planned.
Lower Antino Update: A potential bulk-tonnage zone showing consistent gold mineralization with room to grow. Colin discusses how this could enhance project economics by providing future mill feed.
Lawa and Eastside Targets: Early-stage targets like Lawa, Van Gogh, Da Vinci, and Parbo show scale potential with widespread gold-bearing structures; surface work and drilling are ongoing or planned.
Strategic Prioritization: The company is building around Upper Antino as the “center of gravity,” balancing high-grade hits with bulk-tonnage zones.
Next Catalysts: Multiple rigs active with at least 60,000 meters planned for the year. Colin outlines where drilling is currently focused and when the next assay results are expected.
If you have any follow up questions or topic you would like Colin to address please email us at Fleck@kereport.com ort Shad@kereport.com. 
Click here to visit the Founders Metals website.

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 create volatility in the general equities, bonds, and commodities market, and how he has been using these moves to position in oil, copper, nuclear, uranium, and rare earths stocks.
 
We start off reviewing themes touched upon in our prior discussion where Nick reiterated his stance that general US equity markets would rebound, and that we are not seeing macroeconomic data that is signaling a dive into an immediate recession or depression.  He outlines how there has been improved GDP estimates for Q2 over Q1 and expects that trend to continue.  We’ve seen inflation ticking up modestly on the back of stronger commodities prices and when that has been paired with the outperformance of the industrials sector, these foreshadow more economic expansion and growth on tap for later in this year, albeit, after a potential summer slowdown.  We talk how the markets so overreacted in the tariff tantrums a couple of months ago, and that despite the pause in the reciprocal tariffs coming off in 2 weeks, that the market is not being as reactionary and has had steady progress to the upside.  
 
Nick remains bullish on oil & gas, copper, nuclear, uranium, and rare earth stocks because is anticipated a continued reflationary trade across the commodities complex.  for fundamental reasons as well as recent pricing strength momentum.  He noted again playing domestic copper and base metals production through companies like Freeport-McMoRan Inc. (NYSE: FCX); he was also active last year and early this year putting capital to work in junior copper exploration companies.
 
Shifting over to all the macro tailwinds in the nuclear and uranium sector, we discuss the 4 new Trump administration executive orders on the nuclear industry, the new reactor builds announced in New York, Great Britain, the capital being raised by SMR companies including Bill Gates TerraPower, and the further announcements from large technology companies like Meta that is going to partner with Constellation to source more nuclear power to fuel their digital futures.  Nick outlines that while small modular reactor stocks like NuScale Power Corporation (NYSE: SMR), Nano Nuclear Energy Inc (NYSE: NNE), and Oklo Inc (NYSE: OKLO) have surged, that he believes it will be the companies that can supply the market with the necessary nuclear fuel, uranium, that he is most constructive on for future value appreciation. 
 
He mentioned using the sector pullback a couple of months back to add to his position in the junior uranium mining ETF (URNJ) and that he is maintaining positions in Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU) and Denison Mines Corp. (TSX: DML) (NYSE American: DNN), while researching companies like IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) and Homeland Uranium Corp. (TSXV: HLU) (OTCQB: HLUCF) as domestic North American companies that can benefit from the coming price response to the clear supply/demand imbalances in the market.
 
The discussion on Energy Fuels, also brings in their exposure to producing rare earths, and how this is still a part of the commodities sector that he remains bullish on moving forward.  Nick reminds listeners of one of the ways he has been playing rare earths recycling through a position in CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF), and how this position has been performing quite well over the last few months.
 
Click here to follow Nick’s analysis and publications over at Digest Publishing