The KE Report

John Darch, Chairman and Director, and Ken MacLeod, President and CEO of Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP), both join me to review multiple milestones achieved and catalysts on tap transforming the value proposition for their flagship Cerro Caliche Gold Project, located in Sonoro State of Mexico.  

 

John and Ken both outline the transformation that Sonoro Gold has gone through over the last year, with the updated Mineral Resource Estimate, and resources and Preliminary Economic Assessment (PEA), the very large increase in their overall land package from 1,800 hectares to almost 9,000 hectares in 2 recent acquisition transactions. Thes increased land concessions build Cerro Caliche into a larger-scale gold mining project with multiple major mineralized zones stretching from the Agnico Eagle Santa Gertrudis deposit to the north down all the way to the Highlander Silver Mercedes Mine to the southeast.

 

Next we got more details and initiatives around the commencement of the 50,000 meter drill program, which just got underway earlier this week.  The focus will be on growing the resources, extending the mine-life, and exploring many of the areas across their new land concessions.

 

The company is now taking a hybrid approach, growing through exploration across their expanded project footprint, while remaining very constructive on the future development and production set to begin upon receipt of their final MIA environmental permit in Mexico.

 

Updated PEA Highlights:

Base Case Prices of $3,500/oz gold and $48/oz silver

Pre-Tax net present value discounted at 8% (“NPV8”)of $360 million

Pre-Tax Internal Rate of Return (“IRR”) of 65%

After-Tax NPV8”of $224 million

After-Tax IRR of 50%

Spot Prices of $5,186/oz gold and $88/oz silver

Pre-Tax NPV8of $846 million

Pre-Tax IRR of 121%

After-Tax NPV8”of $525 million

After-Tax IRR of 91%

Gold recovery of 72% and silver recovery of 27%

10-year LOM with 459 k ounces (“oz”) of gold equivalent (“AuEq”)

LOM annual average production of 46 k oz AuEq at 0.38 g/t AuEq

Initial CAPEX costs of $83 million, including $11 million in contingency

Sustaining capital costs of $26 million

AISC of $1,902/oz AuEq

Payback period of 1.7 years

 

If you have questions for either John or  Ken regarding Sonoro Gold, then please email those into to me at [email protected].

 

Click here to follow the latest news on Sonoro Gold

 

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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. 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 Daily Editorial, we are joined by Jeff Christian, Managing Partner at the CPM Group, for a deep dive into the shifting dynamics of the precious metals markets. As gold and silver navigate wide trading ranges, Jeff provides a strategic outlook on price action, investment demand, and the fundamental drivers shaping the rest of the year.

Key topics discussed in this episode include:

Summer Consolidation and Plateaus: A look at why gold and silver are likely to trade sideways in a volatile fashion through August before a potential breakout in late Q3.

Silver’s Outperformance: Analysis of silver’s recent move above key technical resistance levels and why it is currently leading the pack.

The Shift from Futures to ETFs: Why institutional and retail investors are moving away from the futures market in favor of ETFs due to regulatory hurdles and ease of access.

Platinum’s Multi-Year Bull Case: An overview of why the shift toward hybrid vehicles and supply constraints in South Africa could drive platinum prices higher through 2030.

Gold as the Counter-Cyclical Hedge: Understanding gold's role as the premier "risk-off" asset and how a potential cooling in equity markets could trigger the next leg up.

 

Click here to visit the CPM Group website to learn more about the firm - https://cpmgroup.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 are joined by Steve Grey, President and CEO of Fox Tungsten (TSX.V: FOXT | OTC: HPYCF). Steve discusses the company’s flagship Fox Tungsten Project, in British Columbia, which currently hosts a high-grade tungsten resource. Following a rebranding and fresh capital injection, the company is moving into a summer drilling season aimed at significantly expanding its resource base.

Key Discussion Points:

World-Class Resource Grade: Steve explains the significance of their 1% tungsten grade.

Infrastructure and Accessibility: An overview of the project’s location near 100 Mile House, featuring year-round road access and proximity to existing power lines.

Summer Drill Program: Details on the upcoming 20,000-meter drill campaign designed to double the historical drilling and fill the gaps between known mineralized zones.

Resource and Economics: A look at the company’s timeline for a resource update and Preliminary Economic Assessment (PEA) targeted for early 2027.

Management and Financial Position: Steve shares his background with Rio Tinto and Kinross Gold, alongside the company’s $15 million cash position.

 

Click here to visit the Fox Tungsten website to learn more about the company and project - https://foxtungsten.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 are joined by Caleb Stroup, President and CEO of Headwater Gold (CSE: HWG | OTCQX: HWAUF). Following a busy period of exploration, Caleb provides a comprehensive update on the company’s recent activities across its Nevada-focused gold portfolio, highlighting the start of new drill programs and the progress of strategic partnerships.

 

Key Discussion Points:

Jake Creek Drill Program: Caleb discusses the commencement of an 8 to 10 hole drill program at the Jake Creek project, a partnership with OceanaGold aimed at following up on historic high-grade intercepts.

Lodestar Project Update: An overview of the recent scout drilling results at the Lodestar project in partnership with Newmont, specifically focusing on the newly discovered Meridian alteration zone.

Upcoming IP Geophysics at Lodestar: Details on the planned Induced Polarization (IP) survey designed to further define the high-sulfide alteration zones at depth before the next phase of drilling.

Strategic Land Expansion: Caleb explains the rationale behind the recent staking of additional claims to the north of Jake Creek to capture the full extent of the prospective mineralized trends.

 

Please email your questions for Caleb to us at [email protected] and [email protected]. 

 

Click here to visit the Headwater Gold website to read over the recent news - https://headwatergold.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, I sit down with Charles Funk, President and CEO of Heliostar Metals (TSX.V: HSTR | OTCQX: HSTXF), to focus on the Q1 2026 earnings released yesterday. Charles provides a deep dive into the company's operations, record gold production, and the roadmap for its flagship Ana Paula project.

Key Discussion Points:

Record-Breaking Q1 Financials: An overview of the record gold production and mine operating earnings reported on May 12.

Growth at San Agustin and La Colorada: A breakdown of how restarting production and implementing innovative leaching techniques have driven down costs while increasing output.

The High-Grade Opportunity at Ana Paula: Discussion on the latest drill results and the management reorganization designed to fast-track this project toward becoming a major Mexican gold mine.

Strategic Acquisition of Goldstrike: Insight into how the recent Goldstrike acquisition fits into the broader portfolio and the company's dual pathway for monetizing or developing this asset.

Financial Position and Growth Outlook: A look at Heliostar's robust working capital and how the company is balancing aggressive exploration with cash preservation.

 

Please email me at [email protected] with any follow up questions for the team at Heliostar Metals. 

 

Click here to visit the Heliostar Metals website to learn more about the Company - https://www.heliostarmetals.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.