The KE Report

In this episode, we are joined by Craig Hemke, Founder and Editor of TF Metals Report, to break down one of the most volatile periods for precious metals in recent history. Craig provides a deep dive into the macroeconomic "perfect storm" currently suppressing prices. Key Discussion Points: The Triple Threat to Gold: Craig explains how the 50-55 basis point shift in the 2-to-10-year yield curve, a rallying U.S. Dollar, and the massive 58-metric ton gold liquidation by Turkey have converged to drive prices lower. Central Bank Liquidity Concerns: An analysis of why sovereigns like Turkey are swapping gold for dollars to prop up local currencies and how this deviates from the decade-long trend of central bank accumulation. The "Peak Lunacy" in Rates: Why Craig believes the market has it wrong regarding future rate hikes, citing the unsustainable cost of refinancing $12 trillion in U.S. Treasuries at higher interest rates. The Disconnect in Mining Equities: A look at the severe margin compression facing producers as energy costs rise while metal prices fall, and why Q1 earnings might still surprise the market. Silver’s Technical Outlook: Evaluating the breakdown of the "one universal chart" and whether Silver is headed back toward its 200-day moving average or poised for a triple-digit recovery.   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.  

In this episode, we are joined by Derek Iwanaka, CEO of Prince Silver (CSE:PRNC - OTCQB:PRNCF - FRA:T130), for a comprehensive update on the company’s flagship Prince Silver Project in Nevada. Following an upsized 9,000-meter drill program and a successful private placement, Derek discusses the significance of recent high-grade intercepts and the company’s strategic outlook for 2026. Key highlights: High-Grade Drill Results: Derek breaks down the standout results from the first 15 holes, highlighted by an intercept of 7.6 meters at 230 g/t silver and nearly 11% manganese.  Exploration Upside and Scale: With 12 out of 15 holes hitting mineralization, the project currently shows a 1.5 to 2-kilometer strike length. Derek details plans for step-out drilling to the north, south, and west to test the ultimate boundaries of the system. Strategic Manganese Component: As the U.S. looks to secure domestic supplies of critical minerals, Prince Silver’s significant manganese content offers unique strategic value. Derek explains the company's ongoing dialogue with the U.S. government regarding potential funding through critical mineral initiatives. Metallurgical Synergy: The team is currently conducting metallurgical testing to optimize the recovery of silver from manganese-rich ore, leveraging proven processes used by peer companies in similar carbonate replacement deposits (CRD). Regional Consolidation: Beyond the current drill program, Prince Silver is evaluating further acquisitions within the historic Pioche District to consolidate high-potential ground that hasn't seen modern exploration since the 1970s.   Please email me with any follow up questions for Derek - Fleck@kereport.com  Click here to visit the Prince Silver website to learn more about the projects and team.     ------------------------------ 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.

Brien Lundin, editor of the Gold Newsletter and mining specialist, sees recent gold and silver sell-offs as volatility-driven buying windows. Dan Steffens, energy research president, explains how Middle East tensions and Strait of Hormuz risks are creating a real oil and LNG supply shock. They compare precious metals snapbacks to tightening physical energy markets and highlight sectors and names positioned for the moves.

Shawn Campbell, CFO managing Dakota Gold’s finances and capital plans. Jack Henris, President and COO leading operations and exploration at Richmond Hill and Maitland. They discuss recent high-grade drill results at Richmond Hill. They cover the 2026 drill campaign, trade-off studies for early high-grade access, metallurgical testing, permitting on private land, and timing of key catalysts for 2026.

Dan Rodriguez, Co-founder and CEO of Mercado Minerals, leads silver exploration in Mexico. He outlines a 3,000m, 25‑hole drill campaign at Copalito. Historical drilling and new vein discoveries are being integrated. High‑resolution LiDAR and drone magnetics are guiding targets. Initial assay batches are expected within 8–12 weeks.

Jon Gilligan, President and CEO of Liberty Gold, leads the company from explorer to developer while steering asset sales and Black Pine development. He discusses recent divestments of Gage and Goldstrike. He outlines the updated Black Pine resource, FAST-41 acceptance, state‑federal permitting alignment, engineering progress, and timelines toward a feasibility study and construction decision.

Dana Lyons, fund manager and editor of The Lyons Share Pro, brings model-driven technical analysis to metals and markets. He pinpoints critical support lines for gold and silver. He contrasts miners’ recent strength with downside risks. He highlights copper’s orderly action and discusses broader market corrective signals and why cash management matters now.

Dave Cole, CEO of Elemental Royalty Corp, leads a global royalty platform after merging Elemental Altus and EMX. He reviews record 2025 revenues and merger-driven scale. Conversation covers the novel dividend option paid in tether-backed gold tokens, a tour of their diversified ~300-asset portfolio, and 2026 guidance with ambitious growth and cash-flow targets.

Bryan Atkinson, SVP of Exploration, explains drill results and plans to fill the Gap Zone for resource continuity. Tim Clark, President and CEO, outlines the push toward a PFS/FS in 12–18 months and the pathway to production. They discuss Phase 1 highlights, Phase 2 infill and step-outs, and upcoming Committee Bay drilling.

Erik Wetterling, founder of The Hedgeless Horseman and metals market analyst, discusses the March panic that crushed valuations across gold, silver, and copper stocks. He explains using volatility to value-shuffle into mispriced explorers and developers. He highlights big valuation disconnects versus project NPVs and pinpoints silver, copper, and validated gold juniors as the most compelling opportunities.