The KE Report

Jack Henris, President and COO, and Shawn Campbell, CFO of Dakota Gold (NYSE American: DC), both join me for a visual overview of the key 2025 initiatives achieved, and look ahead to the key exploration and development workstreams for 2026 that will feed into updated economics on their Richmond Hill Oxide Heap Leach Gold Project.  We also outline the long-term optionality of their Maitland Gold Project, which will also being receiving some exploration work and maiden resource this year.  Both projects are located in the historic Homestake District of South Dakota, near existing mining infrastructure.

 

Richmond Hill is one of the largest undeveloped oxide gold resources in the United States being advanced by a junior mining company, with over 6 million ounces of gold and over 60 million ounces of silver moving along the pathway of development into heap leach production as soon as 2029. Principle Projects are on Private Land which equates to a positive attribute for efficient permitting with State and County organizations.

 

The 2026 Richmond Hill drill campaign includes a total of 15,481 meters (50,790 feet) of drilling in 109 holes.

 

Infill drilling will convert inferred to measured and indicated resources for the initial 10 year mine plan area, expansion drilling will focus on the north Project area, and condemnation drilling will test areas for infrastructure suitability to ensure optimal site design for the Feasibility Study.

All drilling required for the purpose of the Feasibility Study is expected to be completed by Q3 2026.

 

 

The Company will complete a Pre-Feasibility Study for Richmond Hill in the second half of 2026.

 

With the resource expansion drilling in the north intersecting significantly higher grades than resource cutoff.

This resource drilling will be complimented with an extensive metallurgical test program, so that the Company will undertake a PFS with a focus on the first ten years of mining.

This work will allow the Company to report reserves in 2026 and will inform the Feasibility Study to be completed in the first half of 2027.

 

The Company will launch a 2026 Maitland drill campaign of 5,578 meters (18,300 feet) in 44 holes.

 

The goal of this infill drilling, when combined with historic drill results, will be to define a maiden resource for the Tertiary-aged Unionville gold Zone.

 

 

Jack and Shawn highlight how these robust gold and silver resources, advantageous site infrastructure, and robust project economics, point to a future low-cost, long-life mining operation that can deliver high margins and generate meaningful revenues.

 

We review how the higher-grade mineralization that is being delineated through drilling in the northeast corner may accelerate the economics and shorten the payback period outlined in the SK 1300 Initial Assessment with Cash Flow from last year.

We look at how higher underlying metals prices affect the economic sensitivities of this project in a major way.

We review the potential for a rerating in valuation metrics when looked at through the lens of peer gold developer comparisons.

 

Click here to follow the latest news from Dakota Gold

 

If you have any questions for Jack or Shawn regarding Dakota Gold, then please email those in to me at [email protected].

 

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

 

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.

On this Thursday, January 22nd daily editorial, we are joined by Rick Bensignor, President of Bensignor Investment Strategies and author of the globally recognized institutional newsletter, Supposedly Irrelevant Factors. Known for his behavioral finance expertise and technical precision, Rick joins the show to break down one of the most aggressive “risk-on” environments seen in years.

Key Discussion Points:

The Risk-On Reality: Why 10 major risk assets are currently signaling economic growth and persistent inflationary pressures.

Technical Market Structure: An analysis of the S&P 500 using Ichimoku Cloud charts and why the $SPX remains on track for a target of 7,470.

The Great Rotation: Why the "Mag 7" trade (XLK, XLY, XLC) is tired and how capital is flowing into Materials (XLB), Energy (XLE), and Industrials (XLI).

Precious Metals Parabolic Move: Rick discusses trimming his GDX and SLV positions after a "gift from God" rally and the potential for a silver short squeeze among major banks.

Energy and Base Metals: The bottoming process in Natural Gas and the breakout in “white metals” like Platinum and Palladium.

 

Stocks & Symbols Mentioned: S&P 500 (SPX), SPY, GDX, SLV, GLD, XLK, XLY, XLC, XLB, XLE, XLI, XLP, XLU.

 

Click here to visit the In The Know Trader website - https://intheknowtrader.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 error, 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 episode, we are joined by the newly appointed President of Valkea Resources (TSX-V: OZ, OTCQB: OZBKF, FRA: S600), Thomas Credland, alongside Executive Chairman Chris Donaldson. The conversation provides an inside look at the management transition, the company’s exploration philosophy for 2026, and the untapped potential within their Finnish portfolio.

Key discussion points include:

Strategic Management Transition: Executive Chairman Chris Donaldson explains the significance of Thomas Credland’s appointment and his personal financial commitment to the company.

Early-Stage Exploration Philosophy: Thomas Credland draws parallels between the early days of Rupert Resources and the current setup at Valkea, emphasizing the search for deposits of scale.

Portfolio-Wide Systematic Approach: An overview of why the company is moving beyond just the Paana project to evaluate its full five-property portfolio in the Lapland Greenstone Belt.

The Importance of "Base of Till" Drilling: Why the team is prioritizing low-cost, high-impact till sampling to build a pipeline of 20-30 high-conviction targets.

Any follow up questions for Chris 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.

Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us to look at how chaos in geopolitics and global macroeconomics is continuing to fuel a commodities supercycle. We discuss his 2026 outlook and some of his portfolio strategies in gold, silver, copper, uranium, oil, and rare earth stocks.  

 

We start off noting the continued strength in gold and silver due to an extended interest rate cycle, the next phase of the war cycle, and a market and global backdrop more reminiscent to the 1970s.

 

He discusses why gold has remained well-bid, making a series of new all-time highs from last year into this year, and doesn’t see that larger trend changing, even if and when we do see periodic corrections.

Sean has recently moved his longer-term gold price target from over $6,900 up to $10,000, and is holding with a longer-term silver price target of $200.

With silver, he sees it coming along for the ride for many of the same reasons as gold, despite its separate supply/demand factors, but he notes it’s more susceptible to extreme volatility to the downside and upside.

 

With regards to precious metals equities, Sean is still bullish for the larger trends in place, and views any coming corrections as buying opportunities to add to positions.

He remains positioned across a number of quality producers and developers, specifically noting the continued and recent strength in both Centerra Gold (CGAU) and Endeavour Silver (EXK).

We review the significance of this coming earnings season,for both silver and gold stocks, and how the record revenues in Q4 will become hard for generalist investors to ignore much longer.

We also look ahead to how much better Q1 will be than Q4, and get his thoughts on why more investors are not aggressively front-running this bullish set up much more than they have been. He believes more capital inflow will come as the data becomes more obvious to a wider spectrum of investors.

 

From there we broaden out the discussion to the whole commodity complex, which Sean believes will stay in momentum overall in a continued bull market and commodities supercycle.

Despite the constant geopolitical news deluge, he is more constructive on economic progress in many nations for the year to come.

Sean believes this commodities super-cycle, over time, will begin to drag the lagging traditional energy sector and oil and gas stocks much higher later in the year.

He also points to Phillips 66 (PSX) being a winner for his subscribers, as they can benefit from the processing of heavy crude from Venezuela, unlike other gulf coast refiners that will need to make retrofit upgrades and investments to switch from processing Canadian heavy crude.

 

He points to the strength in copper and copper stocks recently and he is very constructive on the longer-term fundamentals for this commodity, and for global growth in the year to come.  

He specifically highlights Freeport (FCX) and Taseko Mines (TGB) as stocks that have done well for his subscribers.

 

Wrapping up, we get into the resurgence of nuclear power and strength in the uranium stocks over the last month coming into the new year, and why he remains bullish for the medium to longer term that this sector has much further to rerate higher.

 

He underscores the big triple digit gains that he and his subscribers realized in Energy Fuels (NYSE: UUUU) last year, and why he they got repositioned after the fall pullback at the end of last year to ride this stock back higher again.

Energy Fuels has exposure to both uranium and rare earths production and processing, so it sits in a unique position with regards to domestic supply of critical minerals, which he believes will attract more direct government support.

Sean believes that the ‘stealth rally’ we’ve seen in uranium and rare earth equities will continue as the year progresses.

 

Sean made the point, quoting Littlefinger from Game of Thrones, that “Chaos is a ladder” and that the commodities complex would continue climbing that ladder, in lieu of all the geopolitical and macroeconomics factors at work in the year to come.

 

Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends

 

Click here to learn more about Resource Trader

 

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.

[Audio section from Video on 01-21-2026]: Glenn Jessome, President & CEO of Silver Tiger Metals (TSX.V:SLVR) (OTCQX:SLVTF), joins me for a special video segment which visually unpacks the key metrics, maps, and forward-looking plan for the Preliminary Economic Assessment (PEA) for the underground mining second phase of the El Tigre Project.   We also review what the combined El Tigre Silver-Gold Project in Sonora, Mexico looks like on a valuation standpoint, when one sees the first phase surface mining stockwork zone in tandem with the underground second phase.

 

 

The bolt-on PEA is centered on the underground mining economics of the high-grade El Tigre, Sulphide, Black Shale and Seitz Kelly zones. The PEA mine design can be constructed independently of the Stockwork Zone development and is focused on the underground Mineral Resource. Prospective areas exist outside of the areas defined by the PEA and PFS with the historic “El Tigre North Mine” Mineral Resource located 700 metres to the North.

 

Highlights of the PEA , with a base case silver price of $38/oz and gold price of $3,200/oz are as follows (all figures in US dollars unless otherwise stated):

 

After-Tax net present value (“NPV”) (using a discount rate of 5%) of $304 million with an After-Tax IRR of 42.8% and Payback Period of 2.6 years (Base Case);

15-year UG mine life with 3-year historical tailings processing recovering a total of 38 million payable silver equivalent ounces (“AgEq”) or 453 thousand gold equivalent ounces (“AuEq”), consisting of 34 million silver ounces and 130 thousand gold ounces;

Total Project undiscounted after-tax cash flow of $496 million;

Initial capital costs of $83.5 million, including $10.9 million in contingency costs, over an expected 18-month build, and sustaining capital costs of $213 million over the life of mine (“LOM”);

The 2026 PEA mine plan is designed as stand-alone to the PFS, with a potential overlap of initial capital cost of $17M (e.g., grid power, offices);

Average LOM operating cash costs of $1,351/oz AuEq, and all in sustaining costs (“AISC”) of $2,019/oz AuEq or Average LOM operating cash costs of $16.05/oz AgEq, and AISC of $23.98/oz AgEq;

Average annual production of approximately 2.3 million AgEq oz or 27.8 thousand AuEq oz, consisting of 2.1 million silver ounces and 8.0 thousand gold ounces (refer to Table 10 footnotes for conversion to Eq ozs); and

PEA Study of the Southern Veins does not include the 38 million ounces AgEq contained in the Northern Veins (see details in updated Mineral Resource Estimate below).

 

We also go on to unpack all the #exploration upside still at surface, in the underground, and along the district-scale mineralized trend of a number of historic past-producing mines that will have drill programs for many years into the future.

 

If you have any follow up questions for Glenn regarding Silver Tiger Metals, then please email them into me at [email protected].

 

In full disclosure, Shad is a shareholder of Silver Tiger Metals 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 Silver Tiger Metals

 

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.