The KE Report

In this KE Report company update, we speak with Colin Padget, President & CEO of Founders Metals (TSX.V: FDR - OTC: FDMIF - Frankfurt: 9DL0), about the latest developments from the company’s 60,000-meter drill program at the Antino Gold Project in Suriname. We focus on: High-grade results at depth - including 18m of 6.14 g/t gold from 450m and confirmation of continuity in the Upper Antino zone. Open-pit to underground potential - how the deeper drilling supports long-term underground mining scenarios. Pipeline of new targets - progress at Maria Geralda, Van Gogh, Da Vinci, Parbo, and Lawa, and how auger/trenching work is defining future drill-ready zones. District-scale potential - three parallel mineralized trends and the possibility of multiple “Upper Antino-type” discoveries. Program status - ~40,000 meters completed, with ~20,000 meters to go before year-end. Colin also shares insights on how the company in balancing exploration drilling vs. resource definition.   If you have any follow up questions or topic you would like Colin to address please email me at Fleck@kereport.com.  Click here to visit the Founders Metals 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 may own shares in companies mentioned.

Brad Rourke, CEO of Scottie Resources (TSX.V:SCOT – OTCQB:SCTSF), joins me to review a number of key ongoing initiatives and newsflow including the best ever drill hole assay returned to kick off the largest ever drill program, further derisking work building towards an upcoming Preliminary Economic Assessment (PEA), a bulk sample in progress, and an ore sorting study underway at the Scottie Gold Mine Project; located in the Golden Triangle of British Columbia.   We start off reviewing the initial high-grade drill results returned from the ongoing planned 25,000-30,000 meters exploration program at the Blueberry Contact Zone.   Highlights: Blueberry Contact drillhole SR24-364 intersected 30.1 grams per tonne (g/t) gold over 23.65 metres (m), including 83.3 g/t gold over 4.4 m at the Fifi vein. Blueberry Contact drillhole SR24-362 intersected 9.18 g/t gold over 21.00 m and 5.19 g/t gold over 6.00 m at the Blueberry vein zone. Blueberry Contact drillhole SR24-360 intersected 23.1 g/t gold over 2.00 m at the Fifi vein zone. 3 of the 5 reported holes have discreet intercepts of greater than 5 g/t gold in the siltstone host rock, including 29.8 g/t gold over 1.05 m in SR25-364.   Brad highlights that 4 diamond drill rigs have been turned across the property at the high-priority Blueberry Contact Zone, around the past-producing Scottie Gold Mine, including at the Wolf Zone discovered last season, and at the C & D veins. Brad points out that about 14,000 meters has been drilled thus far, and that a big percentage of the will be focused on upgrading the resources from inferred to indicated categories as well as targeting resource growth 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.  The company then plans to springboard over the Pre-Feasibility Study and head straight into work streams for a Feasibility Study (FS) with actual cost estimates and more detailed economics as the next major economic study to be undertaken.   Next we touched on the ongoing 10,000-tonne surface bulk sampling program where they have been blasting and mucking mineralized material from the road-accessable outcropping Bend Vein located on the north end of the Scottie Gold Mine Project.  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.  Ocean Partners recently participated in a financing for the company this summer, and has expressed interest in the offtake of this material in a development scenario.   Wrapping up we discussed the ongoing Phase 2 ore-sorting study underway, that will be a more advanced Feasibility Study level test of upgrading the ore, with the strategy to reduce the amount of waste rock before shipping.  Ore sorting could significantly enhance the efficiencies of the overall DSO strategy, and those results are due out in Q4.     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

Gold and silver have broken out to new cycle highs after a 5-month consolidation. Craig Hemke, founder and editor of the TF Metals Report, joins me to map the pattern driving the move, where it could go next, and how equity inflows and central-bank dynamics are reshaping the precious metals landscape. Key Topics Breakout mechanics & roadmap: Four repeated cycles over the last ~2 years … 3–4 months of sideways consolidation followed by 15-20% surges. With the latest breakout confirmed in late August, Craig outlines upside scenarios into Q4. Miners vs. metals: Why strong metal prices plus widening margins can still mean more catch-up ahead for producers and developers; how valuation frameworks (P/E, price/book) may evolve if capital rotates into the sector. ETF flows & breadth: Rising inflows into GDX/GDXJ as broad participation improves across large caps and juniors; how equity strength and metal strength reinforce each other. Macro drivers: Slowing U.S. data, rate-cut expectations into the upcoming Fed meeting, and the prospect of yield-curve management; how global de-dollarization and central-bank buying since 2022 continue to underpin gold demand. Then vs. now: Lessons from the 2009–2011 bull market compared to today’s debt math, policy backdrop, and global currency dynamics. Positioning mindset: Why “buy-the-dip” may persist in a structurally supportive backdrop, and what traders should watch as liquidity returns post-summer. Click here to visit Craig’s website - TF Metals Report   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 may own shares in companies mentioned.

We welcome back Mike Konnert, President & CEO of Vizsla Silver (TSX: VZLA, NYSE: VZLA), to discuss the company’s latest milestone: a US$200 million project financing package with Macquarie to fund development of the Panuco Project in Mexico. This deal is a key step toward making Vizsla Silver one of the world’s largest single-asset primary silver producers. Mike outlines: Details of the Macquarie financing and why it’s one of the cleanest project finance deals in the silver sector. Updated capital position – nearly half a billion US dollars in liquidity. Development milestones ahead, including the feasibility study (expected later this year) and permitting. How the test mine and early development work are expediting timelines toward production. Ongoing exploration at multiple high-potential targets across the Panuco district and new properties like Santa Fe and Santa Enrique. If you have any follow up questions for Mike please email me at Fleck@kereport.com. Click here to visit the Vizsla 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 may own shares in companies mentioned

We’re joined by Luke Alexander, President & CEO of Newcore Gold (TSX.V:NCAU - OTCQX:NCAUF), to discuss the latest results from the company’s ongoing 35,000m drill program at the Enchi Gold Project in Ghana. With recent highlights including 184 g/t gold over 1m and 3.1 g/t over 13m at the Kojina Hill target, the company is balancing resource expansion drilling with advancing toward a PFS. Key Topics Covered: Drill results at Kojina Hill, including one of the highest-grade intercepts to date and the potential for future resource inclusion. The importance of deeper drilling to test high-grade feeder zones at the Sewum and Boin deposits. Funding position and upcoming warrant exercises that could add ~$13M to the treasury. Strategy for converting resources from Inferred to Indicated while growing beyond the current 1.71Moz resource base. Outlook for an updated resource estimate and upcoming PFS as catalysts. If you have any follow up questions for Luke please email me at Fleck@kereport.com. Click here to visit the Newcore Gold 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 may own shares in companies mentioned.

Gold surges, juniors revalue, and traders eye sector rotations – insights from Axel Merk (Merk Investments) and Dana Lyons (Lyons Share Pro).   This weekend’s KE Report show dives deep into the accelerating precious metals bull market and broad market setups. In the first half, Axel Merk breaks down gold’s breakout, the financing wave in juniors, and what signals to watch for a market top. In the second half, Dana Lyons shares model-driven strategies across equities, tech, small caps, bonds, and crypto, plus his take on how to trade stretched metals markets. Segment 1 & 2 - Axel Merk, President & CIO of Merk Investments and manager of the ASA fund, joins to unpack gold’s breakout after a five-month consolidation, the rare risk-off mix of falling bonds and rising gold, and how Fed-cut expectations, stronger miner margins, and improving junior financing/M&A could keep the move running. He also flags what would signal a top—overpaying deals, loosening discipline, and valuation models chasing higher gold assumptions. Click here to learn more about Merk Investments Segment 3 & 4 - Dana Lyons, fund manager and editor of Lyons Share Pro, joins to discuss why his risk models remain broadly bullish since late April while advocating short-term “digestion,” highlighting rotation among high-RS sectors (tech consolidating; utilities/staples and miners in focus), small-cap and dividend setups, standout international plays (notably China), sideways bonds, overbought but intact trends in gold/silver, strength in platinum and copper miners, constructive uranium consolidation, and buy-the-dip levels in Bitcoin/Ethereum. He outlines taking profits into strength and redeploying on support as the seasonally weak Sept–early Oct window plays out. Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services. To take advantage of Dana’s extended sale please email either dlyons@jlfmi.com or Fleck@kereport.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. 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 may own shares in companies mentioned.  

Mark Brennan, Founder and CEO of Cerrado Gold Inc., dives into the financials and operations of the company. He discusses the impressive Q2 2025 performance, with record heap leach production and strategic underground developments at Minera Don Nicolas. The expansionary exploration program is set to uncover significant resource growth. Brennan also highlights the promising Lagoa Salgada and Mont Sorcier projects, emphasizing their potential value and the integration of critical minerals for maximizing profit.

Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of Marc to Market, dives into the latest U.S. jobs data, revealing signs of labor market weakness since the pandemic. He discusses how the Federal Reserve is navigating the tricky balance of weak jobs and persistent inflation, and speculates on upcoming rate cuts. The conversation also touches on the potential for a U.S. dollar rebound and examines global economic challenges, including Canada’s shaky data and political tensions in Europe.

David Stein, President & CEO of Kuya Silver, shares insights on the company’s recent success in raising over $9 million, the strongest financial boost since 2020. He discusses ambitious plans to accelerate mining development at the Bethania Project in Peru, aiming for a production ramp-up to 100 tons per day. With $1.5 million earmarked for exploration, Stein highlights the potential for resource growth, aiming to uncover significant silver deposits. Recent improvements in output and strategic drilling operations further showcase the promising future ahead.

Brian Leni, founder and editor of Junior Stock Review, dives into the thriving market for gold and silver while also spotlighting copper and nickel as contrarian investments. He discusses why the bull market is already in full swing, identifying valuable opportunities among developers who are underpriced compared to NAV. Leni shares specific stock picks and highlights the importance of strategic risk management and discipline in profit-taking. His focus on 'boring' developers reveals how they can deliver impressive returns in the resource sector.