The KE Report

This week’s show connects the dots between global macro shifts and high-conviction commodity opportunities. From the Treasury’s bond market interventions and the resurgence of precious metals to the geopolitical supply crunch fueling under-the-radar oil equities, guests Mike Larson and Dan Steffens unpack where capital is rotating and how investors can position ahead of the curve. 

 

Segment 1 & 2 - Mike Larson, Editor-in-Chief at MoneyShow, discusses how the recent rebound in precious metals and copper signals a lasting turn in an ongoing bull market driven by global debt trends, Treasury bond interventions, and supply-chain pressures. He also emphasizes that the broader market remains healthy due to strong rotation into sectors like energy, financials, and industrials as tech cools off. 

Click here to find out about the upcoming MoneyShow conferences - https://www.moneyshow.com/

 

Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, breaks down current dynamics in the oil and gas sector amid global supply risks and refinery disruptions. He emphasizes compelling growth and valuation upsides across a range of energy equities, from undervalued small caps like Riley Exploration Permian, ROK Resources, and Kolibri Global Energy to larger mid-cap players like Baytex, Crescent Energy, and Devon Energy. 

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

 

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For more market commentary & interview summaries, subscribe to our Substacks:

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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.

Chris Temple, Editor and Publisher of the National Investor, joins us to review the macroeconomic trends that are moving the markets, and his outlook on gold, silver, copper, critical minerals, oil, and the related resource equities.

 

We start off discussing recent fiscal and monetary policy in the US and abroad. 

Treasury Secretary, Scott Bessent, recently intervened in the Japanese Yen, but it was largely ineffectual, as was the fiscal policy to try and control the long-end of the yield curve. Both initiatives were quickly reversed by the bond vigilantes.

New Fed head, Kevin Warsh has lost some of his political capital by failing to hike rates, as inflation has crept higher, and the tone in the market is shifting slightly from shrugging all this off, to considering the challenges ahead.

Chris outlines that while the Fed maintains it is an independent organization, there is going to be increased coordination and alliance between the US Treasury Department and theUS central bank.

 

Shifting over to commodities, we discuss the strong rally throughout the month of August in gold, silver, and precious metals equities in response to those macro forces.

Chris had warned subscribers earlier in the year that things had become overbought and gotten ahead of themselves and to fade that rally, anticipating a medium-term sector pullback.

He pointed out the corrective move in the PM sector, was then exacerbated by the war in Iran, when many felt that would be a bullish driver for gold and silver.

One positive he highlights is that now gold and silver have started to ignore the higher interest rates and war, and focus more on the sovereign debt loads of nations around the world that are running out of options, desperate to stem the selling of bonds, and likely going to try and inflate their way out of the stagflation.

 

Next we shifted over to trends within copper, and the broad basket of Critical Minerals, where Chris makes the point that one can’t paint them all with a broad brush, as some have unique fundamental or macro drivers.

With regards to copper, he outlines that beyond the AI data center build out mania, EVs, and many popular narratives, that copper is still mostly needed for basic infrastructure build out, real estate construction, and the electrification of the developing world.

Chris flags a few copper companies, preferring the opportunities in the advanced explorers and developers like Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF), Abitibi Metals Corp.(CSE: AMQ) (OTCQB: AMQFF), and Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF)

As far as the smaller niche’ critical minerals sector, he reiterates that a lot of the reality is still around Chinese export controls, and the lack of viable alternatives for supply and processing in the west.

We discuss this administration’s policy initiatives, executive orders, and funding support to help advance some domestic projects. While he concedes this is the best tailwind for extractive industries in our lifetime, he also points out that it is not nearly enough money, support, or urgency, and much of what has been announced may very well get reversed if there are sweeping changes in congress for the upcoming mid-term elections.

 

Wrapping up, we get into the ongoing war with Iran, continued chokepoint in the Strait of Hormuz, longer-term damage to infrastructure, and what it all means to the energy sector.

Chris explains what has kept the oil prices more subdued than many would have anticipated considering the supply shock hitting the world, but the highlights the very wide crack spreads between oil and refined products like diesel.

The higher prices at the gas pumps, and record diesel prices are going to pressure consumers and businesses as this year progresses, and that inflation is going to impact Fed monetary policy and interest rates in a sustained way.

Chris remains animated by the energy stocks and is holding on to them in his portfolio.

 

  

Click here to follow along with Chris at the National Investor 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 and hosts may own shares in companies mentioned.

Scott Emerson, President and CEO of  Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) (FSE: TUY), joins me for another exploration update where the company reported on August 20th assay results from two additional diamond drill holes, LC-26-014 and LC-26-015, at the Company's 100%-held Las Coloradas silver project in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico.

 

Drilling has now intersected the Mine zone mineralization across a minimum strike length of 106 meters, in three drill fences spaced 50 meters apart, to a vertical depth of 155 meters. The mineralization is open at depth and along strike, and includes:

 

LC-26-014 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-007, intersecting the mineralized system 90 metres down-dip of historic workings:

1.40 meters @ 433 g/t Ag Eq (239 g/t Ag) from 190.0 – 191.4m (drilled core length; true width not yet determined), including 787 g/t Ag Eq (435 g/t Ag) over 0.75m (190.4 – 191.5m)

LC-26-015 — an aggressive step-out drilled to a planned 100-metre undercut beneath LC-25-006, intersecting the mineralized system 96 metres down-dip of historic workings:

1.70 meters @ 185 g/t Ag Eq (139 g/t Ag) from 201.65 - 203.35m (drilled core length; true width not yet determined), including 438 g/t Ag Eq (336 g/t Ag) over 0.68m (202.17 – 202.85m)

 

We go on to discuss some of the key exploration targets at Las Coloradas, based on the various data sets from mapping, sampling, historic data, and surveys flown that their team has compiled in the prioritized targets for this season.  The initial follow-up drilling has been testing deeper and stepping out around the historic Mine Target and drilling continued along trend at the DBD Target and then further along trend at Aguilar.

 

Additionally, other regional targets like Leona, Saddle, Silvia, and La Plata areas will be tested, to look at tying together the mineralization from the larger system. Then later this year the company will transition over to drilling a number of targets at their Almoloya Project. 

 

If you have any questions for Scott regarding Kingsmen Resources, then please email those in at Shad@kereport.com.

 

 

Click here to follow the latest news from Kingsmen 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.

In this Company Update, we speak with Katie MacKenzie, Vice President of Corporate Development at Founders Metals Inc. (TSX-V: FDR | OTCQX: FDMIF | FRA: 9DL0). Katie provides an in-depth breakdown of the ongoing 70,000-meter exploration campaign at the flagship Antino Gold Project, recent high-grade drill results across multiple target areas, and the consolidation of 100% ownership alongside strategic investment from Gold Fields.

Consolidating 100% Project Ownership: Key details behind acquiring full, royalty-free control over the Antino Gold Project and strengthening ties with local partners.

Gold Fields Increases Strategic Stake: What the increased 19.9% equity position signals regarding long-term confidence in the asset and team.

High-Grade Expansion at Upper Antino & Antino West: How recent deep and step-out drilling is confirming mineralization well below previous boundaries.

Unlocking Scale Across Antino North & Northeast: Insights into new target discoveries and parallel structural corridors across the property package.

 

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 - https://www.fdrmetals.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.

In this Company Update, we sit down with David Stein, President and CEO of Kuya Silver (CSE: KUYA | OTCQB: KUYAF | FRA: 6MR1), to break down the company’s Q2 financial results and operational progress at the Bethania Mine. David outlines where capital is being deployed as mine ramp-up continues, how revenue from concentrate sales is beginning to offset development costs, and what investors can expect in the second half of the year across both mine development and exploration drilling.

Key discussion topics include:

Q2 Financial Overview: An inside look at how operating expenses and mine development costs aligned with expectations during the ongoing Bethania ramp-up.

Revenue vs. Concentrate Inventory: Understanding the dynamics behind Q2 revenue figures and how the timing of concentrate sales impacts quarter-over-quarter comparisons.

Treasury Strength and H2 Budgeting: How Kuya Silver plans to deploy its cash position between underground mine development and exploration drilling.

Timeline to Free Cash Flow: A discussion on the projected timeline for achieving positive cash flow and the long-term potential for expansion at Bethania.

 

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

Click here to visit the Kuya Silver website – https://kuyasilver.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.