The KE Report

Matt Filgate, President and CEO of GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF), joins us for a comprehensive introduction to this Wisconsin-focused exploration company advancing copper and gold projects across the Penokean Volcanic Belt-one of North America's most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada's Walker Lane, which is subject to a binding term sheet for a proposed staged earn-in and joint venture with Barrick.

 

In Wisconsin, GreenLight's portfolio includes the flagship Bend copper-gold VMS Project in Taylor County, Wisconsin; along with the Lobo and Lobo East massive sulfide targets, and Reef high-grade gold project. Matt shares that their management team and board has deep roots in the state, and GreenLight is building a modern minerals company for Wisconsin, committed to responsible exploration, transparent engagement, and creating durable local opportunities as it helps supply the critical metals that power the energy transition.  

 

The focus at the flagship Bend project is following up on last year’s 2,000 meters of drilling, and utilizing data from the 18,000 meters of historic drilling by other operators, to guide a larger 17,000 meter follow up program. The ongoing Phase 2 Drill Program at Bend is for the initial 7,000 meters of that larger program, further delineating the VMS-style mineralization down-dip and along strike to the east of the main deposit area. The Company will also drill 2,000 meters into the Lobo and Lobo East target area later this drill season.

 

Next we shifted over to the Nevada asset, where on May 7, 2026, GreenLight Metals announced that it has signed a binding term sheet with a wholly owned subsidiary of Barrick Mining Corporation, for a proposed staged earn-in and joint venture at the Kalium Canyon gold project in Esmeralda County, Nevada.  Matt outlined the terms and different thresholds of this proposed earn-in process for Barrick, which if executed on, would give GreenLight a 20% fully-carried interest all the way through a Pre-Feasibility Study.  Additionally, this transaction brings in periodic stage-gate payments into the company treasury, while allowing Barrick’s exploration team to focus on delineating the mineralization.

 

Matt highlights the strong company treasury at present, the background and experience of the management team, and the potential rerating of the company valuation should their exploration program at Bend have success in growing the mineralized footprint to a level where a resource estimate can be released next year, putting it on par with other important US-based VMS copper-gold systems.

 

If you have any questions for Matt regarding GreenLight Metals, then please email those in to us at [email protected] or [email protected].

 

Click here to follow the latest news from GreenLight Metals

 

 

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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.

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) joins us for a visual look and “boots-on-the-ground” site visit to the core shack for the ongoing and fully-funded 15,000 meter drill program starting at Las Coloradas, and then later in the year transitioning over to Almoloya.  Both silver and gold projects are located in the Parral District, in Chihuahua, Mexico.

 

To view the video on-site with Scott over at YouTube click the link below:

https://youtu.be/vWfgi5dN4CQ

 

 

We start off with Scott walking us visually through the core shack and he shows us some of the new drill core coming in for logging, splitting, and then prepping to send out to the assay labs. 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 DBD Target.  As the program evolves, then other regional targets like Saddle, Silvia, Leona, and La Plata areas will be tested.

 

 

 Las Coloradas High-Grade Silver Project

 

Step-out and deeper drilling planned on the high-grade Soledad and Soledad II vein systems, following up around the Mine and DBD zones

Approximately 700 metres of the Soledad structure remains to be tested

New priority regional drill targets emerging at Saddle, Silvia, Leona, and La Plata zones

Multiple large-scale, largely untested targets highlight district-scale discovery potential at Las Coloradas

 

Almoloya Gold/Silver Project

 

Initial diamond drilling planned on the gold-rich Juliettas structures

District-scale CRD and oxide potential identified at Cigarrero Mine área

 

Wrapping up Scott highlights the financial health of the company, after their closing of the upsized bought deal financing in January, and the continued support from their key stakeholders. Scott reiterated that the future value creation will be determined with the drill bit, and that they will have plenty of exploration news on tap for the balance of 2026.

 

 

If you have any questions for Scott regarding Kingsmen Resources, then please email those in to us at [email protected] or [email protected].

 

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 Daily Editorial, we sit down with Dave Erfle, founder and editor of the Junior Miner Junky, to unpack the current divergence in the commodities sector. While copper continues its powerful breakout, the precious metals sector has lulled many investors to sleep despite remarkable corporate health and macro tailwinds.

Key Discussion Points:

Precious Metals Range-Bound Trading: An overview of gold ($4,500/oz) and silver price action relative to their 50-day and 200-day moving averages, and why a technical decision point is rapidly approaching.

Stagflationary Economic Drivers: How the latest downwardly revised US GDP data (1.6%) and rising PCE inflation (3.3%) are providing a fundamentally supportive backdrop for hard assets.

Unprecedented Corporate Health: A look at the record-breaking Q1 earnings and strong balance sheets of producers like Newmont, contrasting their historically low valuations against an overextended broader stock market.

The Speculative Frenzy Absence: Why the lack of a sector-wide bubble in junior equities and multi-year low open interest indicate that the precious metals sector remains completely overlooked.

Copper vs. Gold Rotations: Analysis of the strong volume and capital flowing into critical minerals and copper compared to the summer doldrums gripping gold and silver.

 

Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.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 Daily Editorial, we welcome Craig Hemke, founder and editor of the TF Metals Report, to dissect a highly volatile session across the commodities landscape. Amid shifting headlines out of the Middle East and a see-saw reaction in traditional stock indices, Craig breaks down why hard assets are reacting inversely to standard war-narrative headlines and what it means for macro-investors moving forward.

Key Discussion Points

Geopolitical Headlines vs. Market Reality: Why the reopening of tensions in Iran initially triggered a pullback in precious metals, and why theater often drives early-morning price action over baseline fundamentals.

The Copper and Silver Correlation: An analysis of Copper’s push toward new all-time highs and how this powerful industrial demand component is acting as a safety net to keep Silver well above its key technical baselines.

Fiat Currency Dilution & Global M2 Money Supply: How a 17% explosion in global M2 money supply over the last two years forces a structural re-pricing of hard assets across the board.

Historic Lows in Commitment of Traders (COT) Open Interest: A look into why futures market open interest is sitting at 20-year lows during a commodities boom, and what happens when institutional money inevitably rushes back in.

Navigating Liquid Air Pockets and Volatility: Why thin market liquidity is causing staggering single-day moves in Silver and Gold, and how investors can brace for near-term technical decisions around the 50-day and 200-day moving averages.

 

Click here to visit Craig’s website - TF Metals Report - https://www.tfmetalsreport.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.

Shawn Howarth, President and CEO of Excellon Resources (TSXV:EXN) (OTC:EXNRF)(FRA:E4X2), joins us to outline all the development work building towards mill pre-commissioning and trial mining ramp up into production over the next few quarters at their flagship Mallay silver-lead-zinc mine, located in the Cerro de Pasco area of Peru. We then review the value proposition and optionality across their other 3 projects: Tres Cerros, Kilgore, and Silver City. 

 

Mallay Development Highlights:

 

Mill ready for pre-commissioning. All critical refurbishment and wet commissioning milestones completed; bulk-sample campaign targeted for June 2026.

~15,000 tonnes stockpiled from Isguiz vein and Footwall Zone. Surface stockpile provides representative feed for the pre-commissioning bulk-sample campaign.

Infill drilling informing updated restart planning. Results from the ~2,500-metre program are being integrated into the geological model; the Company expects to have an updated restart plan and schedule in early Q3/26.

Drilling underway to test mineralized extensions: Two rigs active at site targeting extensions of the Isguiz system at depth, the Pierina gold target and Mallay Deeps — a downhole electromagnetics ("DHEM") exploration target; a third rig is expected at Shafra in June.

Operational team strengthened. New Operations Manager appointed at Mallay; technical capacity expanded in the resource modelling, mine planning, and contract management areas.

Dewatering of the 400-ramp advanced. Rehabilitation of the 400-ramp is now underway, providing access to Isguiz below the 4090 level.

 

The work completed over the last several months, includes finishing the mill refurbishment, assay lab upgrades, completion of the initial infill drill program and the expansion to three drill rigs.   This positions the Company to begin testing the process plant in a measured way. Shawn outlines that their operations team is treating June as a bulk-sample exercise, which is designed to validate metallurgy, grades, recoveries, and concentrate quality.   There will then be a steady commissioning of the mill via underground mining and surface stockpiles for the second half of the year, ramping up towards nameplate capacity at 600 tpd by year end.

 

There is also an systematic exploration program underway with the goal of further resource definition and expansion testing extensions of the Isguiz system at depth, the Pierina gold target, and the exploring along the broader Shafra Zone.  With current silver prices materially above the US$30/oz assumptions used in their February 2026 Mineral Resource Estimate, they believe there are footwall areas and expansion areas that can convert into economic ore and then come into the future mine plan.

 

In 2025, Excellon secured an off-take agreements with Glencore for their lead and zinc concentrates, Shawn outlined that their internal studies project a run-rate of 600 tonnes per day of production, producing approximately 2-2.5 million silver equivalent ounces per year, and with a target All-In Sustaining Cost (AISC) of US$17 per AgEq ounce.  They are also open to eventual expansion of the plant once more mineral resource growth and data comes back in from all the drilling underway and on tap for the for the foreseeable future.

 

The Tres Cerros Project is a highly prospective gold-silver exploration project approximately five kilometers northwest of the Mallay Mine. The project’s prime area of interest is a 2.5 kilometer by 500 meter corridor of gold-silver mineralization and coincident IP/resistivity anomalies, indicative of a bulk tonnage, high sulfidation epithermal system.  Numerous historical grab samples were taken across the 2.5 kilometer fault, which are being analyzed to determine further follow-up exploration work.

 

Kilgore, is an advanced gold project in Idaho with over 1 million ounces of gold delineated in all categories, and the Company is considering bringing in a JV partner to assist with moving this project forward in exploration and further derisking.

 

Silver City, a high-grade epithermal silver district in Saxony, Germany, with a long history of almost 800 years of silver production.  Shawn has stated publicly that they are looking at spinning out this asset into a new European-focused silver exploration vehicle. There was just $2million raised in the private holding company for data compilation and for presenting the market with a more defined value proposition and drill program.

 

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.