The KE Report

In this Company Update, I welcome back Mike Konnert, President and CEO of Vizsla Silver Corp. (NYSE: VZLA | TSX: VZLA), to provide an in-depth operational update on the flagship Panuco silver-gold project in Sinaloa, Mexico. Mike discusses the tangible steps taken to position the project for long-term operational success, outlining site security collaborations, major pre-construction engineering contracts, key executive hires, and the roadmap toward bringing this primary silver assets into commercial production.

Discussion highlights:

Site Security Framework and Return Timeline: Insight into the standards required to resume on-site activities by late 2026.

Production Horizon and Permitting Milestones: An updated operational outlook toward initial silver production.

Major Engineering and Procurement Awards: The significance of partnering with M3 for EPCM delivery and FLSmidth for primary mill equipment packages to enhance capital cost certainty.

Strategic Additions to Executive Leadership: How recent management appointments across Mexican operations, government affairs, and underground mine development strengthen execution capacity.

Underground Development and Exploration Upside: Near-term objectives to re-enter the underground workings at Copala, conduct high-grade conversion drilling, and resume exploration across a district where less than 5% of known veins have been drill-tested.

Treasury vs Development Costs: Cash reserve exceeding $400 million to provide full construction funding.

 

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

 

Click here to visit the Vizsla website to learn more about the Company - https://vizslasilvercorp.com/

 

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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.

In this Daily Editorial, Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets, joins the show to provide a comprehensive trading desk perspective on the macro drivers across the resource complex. With broad commodity indices sustaining multi-year highs, Darrell breaks down the distinction between paper price volatility and persistent physical market tightness, the structural headwinds facing base metals, and why commodities continue to show resilience in the face of ongoing central bank tightening.

Long-Term Commodity Supercycle Durability: Why multi-year index highs and historical cycles suggest the broader bull market in real assets still has substantial runway ahead despite short-term fluctuations.

Physical Crude Realities and Steep Backwardation: How physical cash market pricing, refined product constraints, and longer-dated futures curves diverge from headline-driven daily swings in oil.

Energy Equities and Free Cash Flow Profiles: An examination of whether recent pullbacks in major energy equities signal underlying commodity weakness or healthy consolidation following strong performance.

Structural Copper Shortages and Extended Lead Times: What 15-year mine development cycles and tightening physical supply mean for the future of copper pricing, regional warehouse flows, and mining sector M&A.

Precious Metals Positioning: Key support levels and macro catalysts dictating gold's current consolidation phase, along with silver’s divergence as an industrial co-product.

Monetary Policy, Deglobalization, and Supply Securitization: How the broad commodity complex is decoupling from conventional interest rate correlations as global supply chain realignment accelerates.

 

Click here to learn more about Bannockburn Capital Markets  - https://www.bannockburnglobal.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.

Drew Clark, President and CEO of Summit Royalties Ltd. (TSX.V: SUM) (OTCQX: SUMMF), joins us for a comprehensive update on their portfolio of assets, that now includes: 48 royalties and streams, anchored with four producing assets, two assets expected to enter construction in 2026 which are targeted to begin production in 2027, and 42 additional royalties expected to add additional cash flow growth and optionality for years to come.

 

Drew starts off taking us through the growth on tap for 2026 and beyond at their 4 producing royalties and streams.

 

Madsen – 1% NSR Royalty focused on gold and operated by West Red Lake Gold Mines in Ontario, Canada

Bomboré – 50% Silver Stream; operated by Orezone in Burkina Faso

Zancudo – 0.5% NSR Royalty; operated by Denarius Metals in Colombia

Keysbrook – 2% minerals royalty on a producing mineral sands mine in Western Australia

 

 

Next we reviewed 3 of their key development royalties:

 

Copperstone project - 4% gold stream on Mining Americas Inc.'s (formerly Minera Alamos Inc.) in Arizona. This provides exposure to a fully permitted Arizona gold development project where Mining Americas recently announced a positive Pre-Feasibility Study (“PFS”) and a formal construction decision. Based on the PFS results and current estimates, project construction is expected to take approximately one year, with initial production of 46,000 oz of gold per year anticipated by mid-2027.

Pitangu – $80/oz until 250 Koz produced – 1.5% NSR thereafter; operated by Jaguar Mining in Brazil. Development is expected to commence in 2026 with first gold production targeted in 2027

AurMac – 0.5% – 2.0% NSR Royalty Coverage; operated by Banyan Gold in the Yukon, Canada.  The upcoming PEA for AurMac could be a major rerating catalyst for Banyan and for the value of this royalty package within Summit Royalties.

 

 

The portfolio is focused mostly on gold and silver, and spans across 3 core jurisdictions – Canada, USA, and Australia.  Summit is now the fastest growing company in the precious metals royalty sector; having completed their first royalty and stream transaction in May 2025, and just went public in the 2nd half of last year. 

 

 On July 27th, the Company reported that it has entered into a credit agreement with National Bank of Canada for a revolving credit facility with an initial commitment of US$25 million. The Facility includes an accordion feature providing for up to an additional US$25 million, subject to the satisfaction or waiver of certain conditions, for total potential availability of US$50 million.

 

Summit Royalties has continued to demonstrate its ability to identify and execute accretive transactions, and intends to build on that momentum with discipline, to become the next mid-tier streaming and royalty company.  Drew outlines that they are reviewing a few key term-sheets to keep making future actionable and accretive acquisitions to increase production and cash flow growth.

 

 

Click here to follow the latest news from Summit Royalties

 

 

If you have any follow up questions for Drew about Summit Royalties, then please email them into me at Shad@kereport.com.

 

In full disclosure, Shad is a shareholder of Summit Royalties 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 Substack reports:

 

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, Wendell Zerb, Chairman and CEO of Red Canyon Resources (CSE: REDC | OTCQB: REDRF), reviews the latest exploration results across the company's portfolio, centering on the Osiris Copper-Gold Project within the Inzana Project area in Central British Columbia.

Auger Drilling: How a 31-hole auger program successfully sampled bedrock beneath glacial till to identify geochemical signatures across five distinct zones.

The Nautilus Porphyry Target: Why intersecting altered rocks and chalcopyrite-bearing quartz veins has elevated this newly evaluated area into an immediate priority for geophysics and fall drilling.

Expanding Mineralization at the Camp Target: A look at the pending assays from summer core drilling and how 313 new soil samples extended the copper footprint two kilometers northward.

Testing the High-Consequence EV Conductor: The technical rationale for testing a large, sub-vertical electromagnetic anomaly representing a compelling target for massive sulfides.

Exploration Updates at Kendal and Scraper Springs: Ongoing vectoring work, including 3D IP surveying at the Kendal project in British Columbia and 3D geophysical modeling at Scraper Springs in Nevada.

 

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

 

Click here to visit the Red Canyon website - https://www.redcanyonresources.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.

[Recorded Sep 18, 2026]  Terry Harbort, President and CEO of Talisker Resources (TSX: TSK) (OTCQX:TSKFF), joins me for a comprehensive operations, development, and exploration update a the Bralorne Gold Project, British Columbia, Canada.

We start off discussing production results at the Bralorne Mine along with the development and early-stage production from Bralorne West to augment production in H2 and moving forward.  In addition to the Mustang Mine saw development over to the key veins contribute first production in Q3, and will ramp-up more in Q4 and Q1. 

 

There has quite a bit of ongoing infill and definition drilling which led to an increased Mineral Resource Estimate, and this work will factor into the imminent PEA, set release in Q4.

 

The Company has received more encouraging  results from its final test program completed at the Saskatchewan Research Council (“SRC”), in collaboration with TOMRA Mining and Stacy Freudigmann P.Eng from Canenco Consulting Corp. The program evaluated TOMRA’s X-Ray Transmission (“XRT”) sorting technology and TOMRA’s laser sorting technology as part of the Company’s ongoing efforts to optimize the planned sorting circuit for the Bralorne Gold Project.

 

The test results demonstrated that the XRT sorter alone delivered strong performance by:

– Rejecting 57% to 67% of waste material;

– Increasing gold grades by 2.0x to 2.5x respectively; and

– Recovering 87% to 84% of total contained gold respectively.

 

 

We wrap up with the big-picture vision for the company’s future growth into multiple mines and satellite areas across their district, and with the aim to build their own mill and processing plant on site over the fullness of time. 

 

 

Click here to follow the latest news from Talisker Resources

 

 

If you have any follow up questions for Terry regarding Talisker Resources, then please email me at Shad@kereport.com.

 

In full disclosure, Shad is a shareholder of Talisker Resources 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.