The KE Report

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Underground Alpha, joins us for our monthly longer-format discussion on macroeconomic factors moving the markets, turning up the summer heat in resource stocks coming into August. He also shares portfolio management strategies in select gold, silver, copper, rare earths, and uranium stocks.

 

We start off reviewing some shifts in macroeconomics movers:

 

A reduction in strength in US Dollar, with the dollar index moving back below 100

Recent rolling over of interest rates, which had previously been rising based on anticipated hawking Fed policy from Warsh’s prior meetings and statements

Improving US economic data on some fronts may have the Fed in a more neutral position

A desensitization of geopolitics around the US/Iran negotiations and the supposed reopening of the Strait of Hormuz.

US treasury financial intervention to support Japan, staving off their potential need to liquidate US treasuries, or any rapid unwind of the carry trade.

Capex investments in AI data-center build-outs are ongoing.   

 

The conversation then transitioned from macroeconomics into recent uplift in gold, silver, and precious metals stocks. Nick is less animated by PM seasonality trends coming out of the Summer Doldrums, pointing to the changes in the US dollar and interest rates as the key factors that have led to this recent sector bounce.

He mentioned that this lull in the summer doldrums in both sentiment and weak price action was a common theme from the recent Rule symposium; and conceded that in the later summer, once more investors are back from vacations and more focused on the markets again, that this may bring in more trading volumes and participation.

We highlighted the wave of sector news on tap from now into September conference season. All this coming news can provide fundamental catalysts, from compelling Q2 earnings results in PM producers, to key upcoming milestones and studies for developers, and then all the summer drill programs. 

Nick highlighted PM stocks moving on recent news like Revival Gold Inc. (TSXV: RVG) (OTCQX: RVLGF), Hannan Metals Limited (TSXV: HAN) (OTC: HANNF), San Lorenzo Gold Corp. (TSXV: SLG) (OTCQB: SNLGF), and Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG).

He pointed out that the market is still not rewarding exploration news that shows some geological “smoke” but didn’t hit “fire,” mentioning his portfolio position in Quartz Mountain Resources Ltd. (TSXV:QZM)(OTCQX:QZMRF)

There are some companies with he remains animated by for all the coming assay results from ongoing drill programs like Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)

 

Next we switch over to the continued strength in copper, making new all-time highs again this week.  While we note the strong demand fundamentals, and supply constraints, Nick explains that the influx of copper into the US, and pricing arbitrage compared to London or Shanghai exchanges, may be due to investors positioning in front of potential tariff announcements on copper from the  Trump administration.

 

Copper stocks we discuss are Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF), Hudbay Minerals Inc. (TSX: HBM) (NYSE: HBM), and Ero Copper Corp. (TSX: ERO, NYSE: ERO).

 

When reviewing where Nick is seeing the most government focus in the commodities sector, he highlights it is clearly in the Critical Minerals.  While multiple sectors from uranium, to lithium, to heavy rare earths have been sold down lately, the supply chain chokepoints outside of China remain, and the fundamentals for these strategic metals continuing to improve.

 

Nick highlights the ongoing direct investment and policy initiatives into the rare earths processors, separators, recyclers, noting prior government investments into Trilogy Metals Inc. (NYSE American: TMQ) (TSX: TMQ), Lithium Americas Corp. (TSX: LAC) (NYSE: LAC),  MP Materials (NYSE: MP), and USA Rare Earth, Inc. (Nasdaq: USAR).

He flags the recent $725 million financing commitment from the Department of War, U.S. Office of Strategic Capital, for Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) which was approved to support infrastructure and capacity to process rare earth elements and other critical materials domestically.

CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) is company he remains animated by for similar reasons, due to their exposure to recycling material to extract and produce rare earth magnets and strategic materials.  He believes this could attract government interest like is has in the aforementioned companies.

 

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.

In today's Daily Editorial, we are joined by Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network. Joel breaks down the relentless momentum across major stock indices as market averages hit new record territory. We explore whether technical price action supports a continued rally or if tech sector laggards signal caution ahead.

Key Discussion Points:

Market Momentum & Technical Support: How recent breakouts past historic resistance levels are establishing new technical foundations for the broad market.

Intra-Sector Tech Rotation: Why profit-taking in high-flying chipmakers and hyperscalers is feeding capital into other index components rather than triggering broad selloffs.

CapEx Spend vs. Earnings Justification: How big tech giants are attempting to validate massive AI capital expenditure and what that means for supplier supply chains.

The Post-IPO Life Cycle of SpaceX: Key technical levels, lockup expiration dynamics, and how institutional accumulation typically plays out following initial public offerings.

 

Click here to visit Joel’s PreMarket Prep website - https://www.premarketprep.com/

 

Click here to visit the Stock Trader Network - https://www.stocktradernetwork.com/

 

Stocks & Symbols Mentioned: S&P 500 Index ($SPY / S&P Futures), Nasdaq-100 ($QQQ), Dow Jones Industrial Average ($DIA), Russell 2000 ($IWM), NVIDIA ($NVDA), Microsoft ($MSFT), Apple ($AAPL), Micron Technology ($MU), SanDisk ($SNDK), Western Digital ($WDC), Walmart ($WMT), Costco ($COST), Netflix ($NFLX), T-Mobile ($TMUS), Gilead Sciences ($GILD), SpaceX

 

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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 Company Update, Alex Heath makes his debut as the newly appointed Chief Executive Officer of Great Pacific Gold Corp. (TSXV: GPAC | OTCQX: GPGCF | FSE: V3H). Alex outlines his transition into the CEO role, highlighting executive continuity, strategic discipline, and the ongoing multi-target exploration program at the Wild Dog Project in Papua New Guinea.

Key Discussion Points:

Executive Leadership & Board Evolution: Alex addresses recent management shifts, explaining why the changes reflect an evolution rather than a pivot in strategy.

Corporate Background & Financial Discipline: A look into Alex’s extensive mining finance experience and how capital preservation remains a core priority.

Wild Dog Project Exploration Progress: An overview of current drilling across primary targets, including recent completion at Cassie Ridge and the shift to Magiabe

High-Grade Discovery Potential & Target System: Why testing multiple distinct targets along the trend provides significant upside potential.

Program Timelines & Lab Assays: Expected completion dates for the ongoing drill campaign alongside realistic assay turnaround expectations.

 

If you have any follow up questions for Alex please me at Fleck@kereport.com. 

 

Click here to visit the Great Pacific Gold website - https://gpacgold.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.

In this company update, Martin Turenne, President and CEO of FPX Nickel  (TSX-V: FPX - OTCQB: FPOCF), returns to discuss the inaugural 4,000-meter drill program at the Advocate Nickel Property in Newfoundland. He outlines how the exploration alliance with JOGMEC works, shares key milestones in de-risking the flagship Baptiste Nickel Project in British Columbia, and offers analysis on the shifting structural dynamics of the global nickel market.

Key Discussion Points:

Inaugural Drill Program at Advocate: Overview of the 4,000-meter maiden drill campaign targeting high-priority awaruite nickel targets in Newfoundland.

The JOGMEC Alliance: Breakdown of the strategic 60/40 exploration alliance with Japan’s JOGMEC and the long-term vision for project development.

De-Risking the Baptiste Project: Updates on the environmental assessment permitting process in British Columbia and target timelines for feasibility work.

Macro Nickel Market Dynamics: Analysis of changing supply management strategies in Indonesia, evolving cost structures, and long-term price expectations for nickel.

 

If you have any follow up questions for Martin please email me at Fleck@kereport.com.

 

Click here to visit the FPX Nickel 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 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.

Shawn Howarth, President and CEO of Excellon Resources (TSXV:EXN) (OTC:EXNRF)(FRA:E4X2), joins me to celebrate the key company milestone of first concentrate production at their flagship 100%-owned Mallay Silver-Lead-Zinc Mine, located in central Peru. He outlines all the continued development work building towards the commissioning of the mill, and the steady ramp-up into production growth over the next few quarters.  We also review the big exploration focus for infilling mineralization, testing at deeper levels of the mine that have been dewatered, and exploration at near-mine targets.

 

Highlights:

 

First Concentrate Production: Since restarting on a pre-commissioning basis on July 2, 2026, the Mallay concentrator has operated consistently, processing approximately 12,000 tonnes of material and producing concentrates containing approximately 29,200 ounces of silver, 319,000 pounds of lead and 456,000 pounds of zinc. Initial concentrate shipments are expected in August 2026 with payment to be received during the quarter.

Mill Throughput: The Company is targeting a controlled rate of approximately 400 tonnes per day during the pre-commissioning period, providing a sustained operating window for metallurgical optimization during ramp-up.

400 Ramp: The main accessway below the 4090 Level is now dewatered to the point where rehabilitation can begin. Rehabilitation of the 400 Ramp is the next step toward providing access to areas of the Mine below the 4090 Level.

Drilling Underway: Three drill rigs are active, targeting confirmation drilling at depth and near-mine exploration.  Results will be reported separately.

Mine Ramp-Up Underway:  Mine activities are advancing through 2026, prioritizing access below the 4090 Level where mineralization is expected to widen.  Updated mine planning and scheduling is underway.

 

 

We then briefly review the value proposition and optionality across their other 3 projects:  Tres Cerros, Kilgore, and Silver City.   Shawn points out there will be a lot of news to announce over the second half of this year and into early next year from exploration to operations at Mallay, the spin-out of Silver City, and exploration targeting at Tres Cerros and Kilgore.

 

Click here to follow the latest news from Excellon Resources

 

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.