The KE Report

I’m joined by Scott Berdahl, CEO of Snowline Gold (TSX.V:SGD - OTCQB:SNWGF), for an update on the company’s recent drill results and broader exploration progress across the Yukon. Key discussion points: Jupiter Target (Einarson Project): Strike length extended by ~550m, bringing mineralized trend to ~1.9 km and open along strike. Highlight intercept: 6.8 g/t gold over 9m. Strategy mirrors Valley’s early success with large step-outs to quickly test scale before infill. Next steps: blend of selective infill, deeper tests, and additional step-outs to north and south. Valley Deposit (Rogue Project): Current resource: 7.9 Moz Indicated + 0.9 Moz Inferred. New mineralized zone discovered east of the proposed pit, with visible gold. Recent holes confirm continued growth at the margins, including intercepts beyond the current pit shell. Engineering and environmental baseline work advancing alongside drilling. Regional Exploration: Seven additional targets drilled at Rogue in 2025 (Cujo, Ramsey, Aurelius, JP, Gracie, Duke, Charlotte) totaling over 6,000m. Two holes completed at Neptune (Einarson Project); assays pending. Strategic goal: identify another Valley-scale system while continuing to expand Valley. Snowline is executing on a dual-track strategy - advancing Valley toward development while systematically testing district-scale opportunities. The combination of strong Valley resource growth and Jupiter’s step-out success highlights the potential for multiple large discoveries across the company’s portfolio.   If you have any follow up questions for Scott please email me at Fleck@kereport.com.   Click here to visit the Snowline Gold website to read over the recent news and 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.

I’m joined by Jim McDonald, President & CEO of Kootenay Silver (TSX-V: KTN - OTCQX: KOOYF), for an update on the company’s progress at the Columba Project in Mexico. This conversation covers: Maiden Resource Estimate - 54M oz silver at 284 g/t, supported by 53,000m of drilling across 214 holes. Key Veins Driving Growth - D-Vein alone holds ~60% of the ounces; additional ounces at Lupe, B, and F veins. 50,000m Drill Program Underway - Funded by a recent $20M financing, with two rigs turning and results expected regularly over the next 8–10 months. Expansion Strategy - Step-outs around existing zones (all open along strike and depth), plus deeper drilling and new target testing. Next Steps - Potential to grow toward 100M oz, followed by a resource update and possible PEA. If you have any follow up questions for Jim please email us at Fleck@kereport.com or Shad@kereport.com.    Click here to visit the Kootenay Silver website to read over the corporate presentation and recent news   ---------------- 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.

Jordan Roy-Byrne, Editor of The Daily Gold and author on precious metals, shares his insights on navigating the current gold market. He discusses gold's potential targets around $3,900–$3,950 and warns of a possible 20–25% correction in mining stocks. Roy-Byrne emphasizes the importance of pre-planned strategies for buyers and holders, detailing his rules for trimming positions. He also compares gold and silver allocations, advocating for higher silver despite its increased risk. Finally, he highlights the need to assess the fundamentals of stocks that appear stagnant.

Dan O’Flaherty, CEO of Versamet Royalties (TSX.V: VMET), joins me to provide an update on the recent acquisition of both a silver stream and net smelter royalty on cash-flowing producing assets from Appian Capital.  We also take a deeper dive into the value proposition embedded in their portfolio of streams and royalties, and the triple-pronged approach to growth for this newer royalty company, that just listed publicly back in May of this year. Dan previously led Maverix Metals, which sold to Triple Flag in 2023, and now he’s building Versamet to fill the gap between junior royalty players and the multi‑billion‑dollar majors.   Key Highlights from Our Discussion:   Closed an agreement on September 24th for the acquisition of two long-life, high-quality, producing assets from Appian Capital Advisory; with immediate cash flow for an up-front cash consideration of $125 million. Rosh Pinah Zinc - a 90% silver stream an operating underground mine in Namibia with over 55 years of mining history and a long history of resource additions and significant exploration potential Santa Rita - a 2.75% net smelter return royalty (NSR) on a top tier nickel sulphide mine located in Bahia state, Brazil, currently producing from an open pit. The Stream and NSR Royalty are expected to contribute approximately 5,000 gold equivalent ounces ("GEOs") in 2026 using analyst consensus metal prices. Cash‑flow focus: From ~10,000 GEOs in 2025 to ~20,000 GEOs by 2026, translating to over $70M in annual revenue targeted for next year, using consensus gold prices, and even higher than that at current spot prices. Balance sheet strength: Paid off initial debt out of robust revenues, before adding this recent debt on the back of these 2 acquisitions; with a roadmap to paying that back down in an accelerated fashion from quarterly cashflows. Rapid portfolio growth: Over US$400M in acquisitions since 2022, growing Versamet’s market cap to over CAD$800 million. We review how several key strategic stakeholders got into partnership with Versamet including: B2Gold (33%), Sandstorm (25%), and Equinox Gold (13%) as cornerstone shareholders, providing technical strength and deal flow. Investors today can get an early mover advantage before more institutional investors and passive fund investments have entered the story. Triple-pronged approach to growth: (1) Near‑term organic growth from within their existing portfolio of royalties and streams, (2) future accretive acquisitions, and (3) the coming U.S. listing for more liquidity, a broader investor base, and the potential inclusion in funds and ETFs.     If you have any questions for Dan regarding Versamet Royalties, then please email those in to me at Shad@kereport.com.   Click here to follow the latest news from Versamet Royalties

We’re joined by Garrett Ainsworth, President & CEO of District Metals (TSX-V: DMX - OTCQB: DMXCF - Nasdaq First North: DMXSE SDB), to discuss the latest results from airborne Mobile MT surveys at the Viken Property in Sweden, one of the largest uranium deposits in the world. Garrett explains how these surveys confirmed the known Viken deposit and identified nine new high-priority target areas - with three of them showing even stronger geophysical signatures than Viken itself. Key discussion points include: How Mobile MT surveys validate the Viken deposit through a one-to-one correlation with historic drilling. Nine new target zones discovered, with 6 emerging as the most prospective. Shallow, near-surface potential - many targets appear at ~100m depth or less. Scalability of the alum shale system, where limited drilling could quickly define significant tonnage. Exploration and news flow ahead, including further survey results from other Swedish projects. Garrett also shares perspective on Sweden’s pending uranium moratorium lift, expected in late 2025, which would unlock the path to drilling and advancing these discoveries.   ---------------------- 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.

In this daily editorial, we welcome back Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network. Joel and Corey dive into the recent pullback in U.S. equity markets, led by weakness in tech stocks, and whether this signals: A healthy correction or the start of a larger pullback The Fed’s latest rate cut, the dot plot, and implications for inflation and future monetary policy Sector extremes - from stretched valuations in nuclear/quantum tech names like Oklo (OKLO), to undervalued plays in Chinese equities such as Alibaba (BABA) Signs of excessive speculation in small-cap momentum names and what this means for traders vs. long-term investors Where defensive money is moving - gold, utilities, staples, and biotech Practical advice for investors on risk management, profit-taking, and strategy based on investment cycle Joel also shares his perspective on why this market remains “orderly” despite euphoria in certain sectors, and why corrections are essential to a sustainable bull run. Click here to visit Joel’s PreMarket Prep website Click here to visit the Stock Trader Network - Use code PMPSTN for a 10% discount -------------------- 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.

John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joined me to discuss their new chair of the board, Marie Inkster, as well as the bench strength of the rest of the board and management team, their key strategic shareholders, an exploration update on the Phase 5 drill program, and the development pathway towards a construction decision at their wholly-owned Diablillos property in Salta Province, Argentina.   John highlights how the appointment of Marie Inkster marks another key inflection point as a company to take them into the next phase of growth. Ms. Inkster will take over as Chair of the Company's board of directors, replacing Robert Bruggeman, who will continue to serve as a director.   Ms. Inkster is a very highly accomplished mining executive and corporate director with more than 25 years of international experience spanning corporate leadership, finance, governance and capital markets. From 2018 to 2021, she served as President & CEO of Lundin Mining Corporation, after nearly a decade as its Chief Financial Officer. She currently serves on the boards of Cameco Corp. and Foran Mining Corp., and has also held board roles with global mining leaders including Vale S.A. and Lucara Diamond Corp.   John then spent some time reviewing the various disciplines and expertise of their board of directors and management team, and why this addition of Marie really rounds out the various skillsets needed to advance from an exploration company into a full-fledged development company.  We also highlighted the strength of having strategic partnerships like Central Puerto,  the largest utility company in Argentina, as well as senior mining companies like Kinross and Teck Resources, so share ideas with.   With three drill rigs now active across the broader Diablillos land package, the ongoing 20,000 meter Phase 5 drill program, and the potential to add a fourth rig in the future, the Company is entering another exciting new phase of exploration growth and is testing new targets. In addition, the Company is doing all the derisking work programs in parallel with exploration for their ongoing Definitive Feasibility Study due out in early 2026, which will be followed by a PEA on the heap-leach economics, and another updated to the mineral resource once all the Phase V data is incorporated into that study.     If you have any follow up questions for John regarding at AbraSilver, then please email us at Fleck@kereport.com or Shad@kereport.com.   In full disclosure, Shad is a shareholder of AbraSilver at the time of this recording.   Click here to visit the AbraSilver website and read over the most recent news releases.

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 macroeconomic themes and fundamental value drivers that that are presenting catalyst-driven opportunities in select gold, silver, lithium, and uranium stocks.   We start off reviewing how the Fed’s first rate cut in 9 months, here during the month of September, and that sticky and rising inflation has been a key tailwind for reflationary trends in US equities, cryptos, and the commodities sectors. Nick points out, once again, that real assets are moving higher in response.  Despite the melt up we’ve seen in many metals resource stocks, Nick goes on to outline where there are still opportunities in companies that have solid work programs and news catalysts on the horizon in the precious metals stocks, and that there are still many positive macro policy factors providing tailwinds to critical minerals like copper, rare earths, and antimony, and energy metals like lithium and uranium.   Nick highlights a few gold and silver companies that have had news catalysts driving their charts higher like recent high-grade silver equivalent results returned in the initial drill results from Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF), and the compelling market cap gulf between the earlier stage Daura Gold Corp. (TSXV: DGC) exploring adjacent on the same mineralized trend to the more richly valued Highlander Silver Corp. (TSX:HSLV) in Peru.     Next, we revisited the point Nick has made in prior discussions that the lithium space presented a “buy the dip” moment a few months back, and that both the underlying metals price and the related equities have bounced and started a trajectory higher.  He also pointed to the doubling of the stock price this week in Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), on the back of media reports pertaining to the status of its previously announced $2.26 billion loan from the U.S. Department of Energy (“DOE”).   Shifting over to the nuclear power and uranium tailwinds from the government fiscal bills and executive orders passed the last few years have had provisions in them for accelerating the development of nuclear power infrastructure and uranium mining. Just this month we saw more comments from the US administration on creating a strategic uranium reserve and this has sent the prices of North American uranium stocks even higher, as they’ve been in a multi-month rally coming off the April sector lows. Nick highlights the prior trading opportunity he brought to listens attention a few months back in the Sprott Junior Uranium Miners ETF (URNJ) as one that has worked out nicely.   Nick also flagged uranium companies like Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU), enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), Uranium Energy Corp (NYSE American: UEC), North Shore Uranium Ltd. (TSXV:NSU), Denison Mines Corp (TSX: DML) (NYSE American: DNN), and Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) as different stages of uranium companies that are doing good work to advance their projects, which continue to have his attention.   Wrapping up Nick shares the technical innovation in the mining sector and value proposition he sees in  MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) a leading provider of digital supply chain solutions for the commodity markets.  He points out his it is valuable to banks, to traders, to exchanges, to metals producers, to exporters, to importers, to smelters to provide big data and assurances of supply chains.  This opens up a number of lucrative avenues for helping the resource sector, materials space, and manufacturing industries by leveraging this technology, and it is already attracting major partners.   Click here to follow Nick’s analysis and publications over at Digest Publishing   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.

Fred Bell, CEO of Elemental Altus Royalties (TSX.V:ELE) (OTCQX:ELEMF), and Dave Cole, CEO of EMX Royalty Corp (NYSE American: EMX) (TSXV: EMX), both join me to unpack the key transaction details, synergies, and growth profile emerging from the business combination of both companies into the emerging Elemental Royalty Corp.  In the new combined entity, Dave will be the CEO, and Fred will be the President and COO, with the balance of the management team and board being a solid blend of the 2 companies current teams.   Dave starts us off with the big-picture rationale for this merger, creating a larger royalty company of scale, graduating up to the mid-tier category, with more analyst coverage and liquidity, a better cost of capital, the financial strength from the backing of the key strategic shareholder Tether Investments, and the potential to rerate in the future to a better price to net asset value multiple more in alignment with larger royalty peers.   Fred then takes us through the transaction specifics of the merger, including the recent financing, share roll back, and US big board exchange listing that were all announced earlier this month, in concert with this business combination. Fred also outlines the importance of having Tether Investments as their key strategic shareholder, and they financially backstop the kinds of accretive acquisitions that they can now go after. He also explains why they made the choice to establish an institutional account to gain exposure to Tether Gold (XAUt), a tokenized asset backed 1:1 by physical gold, to diversify the Company's treasury and increase exposure to rising gold prices with enhanced liquidity and efficiency.   We also dive into updates on their key cornerstone royalty partner projects: Timok, Laverton, Karlawinda, and Caserones. the organic development growth still on tap in their portfolio of royalties, the future upside of the continued royalty generation strategy, and a look ahead to future larger acquisitions than were possible for both companies up until the creation of this new combined vehicle.   If you have any follow up questions for Dave or Fred regarding the merger of Elemental Altus Royalties with EMX Royalty, into the new Elemental Royalty Corp, then please email them to me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of both Elemental Altus Royalties and EMX Royalty Corp at the time of this recording, and may choose to buy or sell shares at any time.   Click here to learn more about the Elemental Altus and EMX Royalty merger   Click here to view recent news on Elemental Altus Royalties   Click here to view recent news on EMX Royalty

In this KE Report Daily Editorial (Sept. 24), we welcome back Dana Lyons, fund manager and editor of Lyons Share Pro. Dana shares how his proprietary models continue to signal bullish conditions despite some red flags in sentiment and seasonality. Discussion Highlights: Market Outlook: U.S. equities still trend higher, with Dana’s models staying net long despite extended rallies. Risk Management: How Dana trims profits and manages position sizing when sectors hit stretched levels. Sector Rotation: Fresh strength emerging in technology, uranium, China, and now the energy sector (ETFs: XLE, FXN, PSCE). Precious Metals: Gold, silver, and miners (GDX, GDXJ, SILJ) remain strong, with equities still catching up to metals prices. Uranium Equities: Breakouts in URA, URNM, and NUKZ suggest more upside after consolidations. Alpha Generation: Why experience and disciplined models matter most in extended bull markets. Mentioned ETFs & Tickers: XLE, FXN, PSCE, URA, URNM, NUKZ, GDX, GDXJ, SILJ, GLD   Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services.    ----------------- 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.