The KE Report

In this weekend edition, we dive deep into the forces driving the next leg of the commodity cycle. Brien Lundin joins us to discuss the "sideways consolidation" in precious metals and why copper and tungsten are suddenly stealing the spotlight. Then, Dan Steffens breaks down the structural damage to global oil supply chains, explaining why a $90+ floor is the new reality regardless of geopolitical headlines. 

Segment 1 & 2 - In this interview, Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, discusses the current sideways consolidation in precious metals and the bullish performance of copper. He explores broader market trends, highlighting opportunities in exploration-stage junior mining stocks and the strategic revaluation of resource companies through acquisitions and spin-outs.

Click here to learn more about this year’s New Orleans Investment Conference - https://neworleansconference.com/online-registration/ 

 

Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, analyzes the current volatility in the energy sector driven by the ongoing conflict in Iran and the closure of the Strait of Hormuz. He provides detailed insights into the structural damage to the global oil supply, the disconnect between stock values and oil prices, and specific growth opportunities within his top small-cap and merger-focused energy stock recommendations. 

Click here to visit the Energy Prospectus Group website for more energy market and stock analysis - http://www.energyprospectus.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.

In today’s Daily Editorial, I am joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. With significant news breaking regarding the Department of Justice and Federal Reserve leadership, Marc provides a deep dive into the shifting tectonic plates of US monetary policy and the potential for a historic revaluation of US sovereign assets.

Key Discussion Points:

The Transition to a Warsh-led Federal Reserve: Marc discusses the implications of the DOJ dropping its investigation into Jerome Powell, clearing the path for Kevin Warsh and a potential departure from the policy continuity seen over the last two decades.

Rethinking Inflation Targets and Measurements: A look at how a new Fed administration might move away from the traditional 2% target or change the primary instruments used to measure inflation, such as shifting toward trimmed-mean CPI.

The Potential Revaluation of US Gold Holdings: An intriguing analysis of the proposal to revalue the US government’s 8,400 tons of gold from its current book value of $42.22 to a market-adjacent price, potentially adding $500 billion to the US balance sheet.

A New Treasury-Federal Reserve Accord: Marc explores the possibility of a renewed formal agreement between the Treasury and the Fed to streamline fiscal and monetary coordination, potentially limiting "mission creep" like Quantitative Easing.

Global Central Bank Preview: A concise outlook on the upcoming meetings for the Fed, Bank of Canada, ECB, Bank of England, and the Bank of Japan, and why "wait and see" remains the dominant theme.

 

Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/

 

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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.

Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins me for a comprehensive review of all 4 company Projects, on an operational, developmental and exploration perspective. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua. Mako owns the Moss Mine, an open pit gold mine in northwestern Arizona, which is ramping up into commercial production. Mako now controls the permitted development-stage Mt. Hamilton Gold-Silver Project located in White Pine County, Nevada, USA. Mako also holds a 100% interest in the development-stage Eagle Mountain Project in Guyana, South America.

 

Q1 2026 San Albino Operational Highlights:

 

50,233 tonnes mined, containing 12,538 ounces ("oz") of gold ("Au") at an average grade of 7.76 grams per tonne ("g/t") Au and 12,460 oz of silver ("Ag") at 7.71 g/t Ag

53,638 tonnes milled containing 13,277 oz Au and 13,274 oz Ag grading 7.70 g/t Au and 7.70 g/t Ag

At quarter end, the stockpile was estimated at 124,350 tonnes at an average grade of 2.65 g/t Au for contained Au of 10,558 oz

 

Q1 2026 Mako Financial Highlights

Mako total gold sales of 13,721 oz Au for total revenue of $68.6 million in Q1 2026

San Albino Mine sales of 10,398 oz Au at $4,901(2) per ounce

Moss Mine sales of 3,323 oz Au at $4,912 per ounce

Delivered 274 oz Au in connection with gold stream related to the purchase of the Mt. Hamilton Project

Cash balance and trade receivables of $96.1 million as of March 31st, 2026, after a previously accrued 2025 $13.2 million annual tax payable was paid

  

We went on to review all the ongoing exploration work at San Albino, the development progress on tap for 2026 at the Moss Mine and at Mt Hamilton, and the permitting progress at Eagle Mountain.

 

If you have any further questions for Akiba regarding Mako Mining, then please email them into me at  [email protected].

 

In full disclosure, Shad is a shareholder of Mako Mining at the time of this recording and may choose to buy or sell more shares at any time.

 

Click here for a summary of the recent news out of Mako Mining.

 

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, and companies profiled may be sponsors of the KE Report.

In this Company Update, we are joined by Thomas Credland, President and CEO of Valkea Resources (TSX.V: OZ | OTCQB: OZBKF). Thomas provides an insider’s perspective on the massive shifts occurring in Finland’s mining landscape following the recent ~$3 billion consolidation of the Lapland Greenstone Belt by Agnico Eagle. Having been part of the team during the world-class Ikkari discovery at Rupert Resources, Thomas discusses what Valkea has planned to systematically explore its own expansive land package.

Key Discussion Points:

The Agnico Eagle Effect: An analysis of how the recent consolidation of Rupert Resources and Aurion Resources by Agnico Eagle validates the prospectivity of the district and creates a "slipstream" for junior explorers.

Strategic Land Positioning: Why being the second-largest landholder in the Lapland Greenstone Belt puts Valkea in a prime position as the region undergoes rapid development.

Systematic Exploration Methods: Insights into the "base of till" geochemical drilling strategy that led to the Ikkari discovery and how it is being deployed across Valkea’s high-priority targets.

Priority Targets and Catalysts: A look at the Paana and Rover properties, including the upcoming 10,000-meter diamond drilling program aimed at uncovering the next standalone deposit.

Funding and Strategic Partnerships: Thomas addresses the company’s current treasury, budget flexibility, and the philosophy behind maintaining independence versus bringing in a strategic partner.

 

Any follow up questions for Thomas can be emailed to me directly at [email protected]. 

 

Click here to visit the Valkea Resources website to learn more about the Company. - https://valkea.ca/

 

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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.

In this Daily Editorial, we are joined by Dana Lyons, Fund Manager and Editor of The Lyons Share Pro. Following a dramatic market reversal throughout April, Dana breaks down the technical signals driving the current "V-shaped" recovery and whether the internal data supports a sustained move higher.

Key topics discussed in this episode:

The Mechanics of the V-Bottom: An analysis of how extreme bearish positioning and institutional short covering served as the primary fuel for the recent price thrust.

Software’s Contrarian Setup: Why the IGV (Software ETF) is currently presenting a unique technical entry point despite diverging from traditional relative strength models.

Evaluating Market Breadth: Insights into the "under the hood" data and why increased participation from mid-caps and the Russell 2000 is critical for the next leg of the rally.

Sector Leadership and Relative Strength: Identifying the top-performing sectors, including semiconductors and international markets, that are currently leading the charge to new highs.

Outlook on Bonds and Metals: A look at the challenging short-term environment for precious metals and the current trend in Treasury yields.

Stocks and ETFs mentioned: IGV, SLV, BTC, ETH.

 

Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services - https://lyonssharepro.com/

 

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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.