The KE Report

In this episode, we welcome back Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc joins us to unpack the heavy impact of current geopolitical tensions on global markets, specifically focusing on the escalating conflict in Iran. We dive deep into how war is currently the primary fundamental driving market behavior, overshadowing even major domestic data like US GDP revisions. 

Key Discussion Points:

The Energy Inflation Formula: For every 10% increase in the price of oil, the PCE deflator typically sees a 0.2% boost. We discuss the massive 54% spike in WTI contracts over the last month and what that means for your wallet at the pump.

Central Bank Pivot or Pause: Before the conflict, markets were pricing in multiple Fed rate cuts; now, the odds of a cut before the midterms have vanished, with some even anticipating potential hikes.

The Dollar as a Safety Net: Why the US Dollar remains a "safe haven" during global unrest, fueled by market positioning adjustments and the liquidation of higher-risk assets like Mexican bonds.

The Myth of Stagflation: Marc challenges the current stagflation narrative by comparing today’s energy dependency to the 1970s, suggesting that while growth is slowing, we aren't seeing a repeat of the double-digit misery of the past.

Global Interest Rate Swings: A look at how the Eurozone and UK have shifted from expecting rate cuts to bracing for hikes as inflation expectations become unanchored.

 

Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.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.

Stefan Sklepowicz, CEO of Kirkland Lake Discoveries (TSXV: KLDC) (OTCID: KLKLF), joins us for a company introduction and exploration update on their ongoing 25,000 meter drill program across their 400-km2 exploration portfolio in the Kirkland Lake region of Ontario's Abitibi Greenstone Belt; one of the most prolific mining districts in the world. The Company's properties span key fault zones, geophysical anomalies, and volcanic-sedimentary contacts within the Blake River Group, a highly prospective assemblage known to host both gold and polymetallic massive-sulphide deposits.

 

With exploration permits now in place, KLDC is positioned to advance a strong pipeline of drill-ready targets at KL South, KL East and KL West, supported by multiple anomalous soil trends, historical mineral showings, and structurally controlled intersections.

 

Building on exciting drill results from Summer 2025, KLDC has initiated a 25,000m drill program following up on drill-ready targets at both the KL West site and the newly acquired the Mirado Gold Project at KL South. The team combines strong technical experience with a focus on smart, efficient exploration designed to deliver results.

 

12,000 meters have already been drilled at KL West, where only 1,000 meters of assays have been returned back thus far, from the Wolverine Bend target, with the balance of meters drilled still at the assay lab and expected back in the near future.  One of the drills from KL West is being moved down to KL South to put in about 7,000 meters of drilling around the historic Mirado Gold Mine, where there is already a known historic 440,000 ounce gold resource in place.   The system is open in all directions and at depth under historic drilling, so the company will be doing some confirmation holes and some step-out or deeper holes to expand the mineralized footprint.

 

We discuss the financial health of the company, where this drill program is fully funded, the key strategic shareholders, and the industry experience and background of the management team and board of directors. The company is also expecting the US shares to list on the OTCQB in the very near future.

 

If you have any questions for Stefan about Kirkland Lake Discoveries then please email them into us at [email protected] or [email protected].

 

Click here to follow the latest news from Kirkland Lake Discoveries

 

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.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the key takeaways he got from attending the recent PDAC conference in terms of attendance, investor sentiment, reaction to company newsflow before and during the event, and conversations with other investors and management teams.

 

In addition, he reviews the value proposition that has his attention in the corporate news and strategies from 3 advanced gold and silver developers looking to go into the 2nd wave of the Lassonde Curve on the pathway to production in the next 1-2 years

 

  >> The companies we discussed in the interview are:

 

Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) – On March 10, 2026, the Company announced that the Environmental Council (COEMA) for the state of Pará has issued the Licença Prévia ("LP") for the Full Mining License at Cuiú Cuiú Gold District, Brazil.

 

Sonoro Gold Corp. (TSXV: SGO) (OTCQB: SMOFF) (FRA: 23SP) – On Feb. 28, 2026 the Company announced the results of an independent updated Mineral Resource Estimate (“MRE”) and updated Preliminary Economic Assessment (“PEA”) on the Company’s Cerro Caliche gold project located in Sonora State, Mexico. The PEA demonstrates the potential viability for a ten-year life of mine (“LOM”), open pit, heap leach mining operation with an initial one-year ramp up production rate of 12,000 tonnes per day (“tpd”) and an increase to 16,000 tpd for the remaining LOM.

 

Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB: GPPRF) – On March 02, 2026 they announced entering into a Project Development Funding Agreement with the U.S. International Development Finance Corporation (“DFC”), the development finance institution of the United States Government. Under the Agreement, DFC will provide up to US$5 million in milestone-based project development funding to support defined project development activities for the Quiulacocha Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering the possibility of providing up to US$300 million in long term direct loan financing to support construction of the Project.

 

 

* In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.

 

Click here to follow Erik’s analysis over at The Hedgeless Horseman 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.

George Ogilvie, President and CEO of Arizona Sonoran Copper (TSX:ASCU – OTCQX:ASCUF), joins us to unpack the key news from March 02, 2026 that Hudbay Minerals Inc. (TSX, NYSE: HBM) and Arizona Sonoran Copper Company announced that they have entered into a definitive agreement pursuant to which Hudbay has agreed to acquire all of the issued and outstanding common shares of ASCU, not already owned by Hudbay, for consideration of 0.242 of a common share of Hudbay per common share of ASCU.

 

The offer implies a value of C$9.35 per ASCU share based on Hudbay's closing share price on the Toronto Stock Exchange (“TSX”) on February 27, 2026, and represents a premium of 30% to ASCU’s closing share price on February 27, 2026. The offer implies a premium of 36% based on Hudbay’s and ASCU’s 20-day volume-weighted-average share prices ("VWAP") on the TSX for the period ending February 27, 2026. The Transaction will result in Hudbay owning a 100% interest in ASCU’s Cactus project.

 

Key Takeaways:

 

Establishes a major copper hub in southern Arizona with the addition of the Cactus project to Hudbay’s existing Arizona business, including the Copper World project 

Strategically positions Hudbay to become a leading supplier of domestic U.S. refined copper with Copper World and Cactus both expected to be significant producers of copper cathode

Provides a clear pathway to scale Hudbay’s annual copper production from ~125,000 tonnes today to more than 250,000 tonnes by 2030 with Copper World and other near term optimization projects, and potential to grow to more than 350,000 tonnes with Cactus 

Significant operational efficiencies and regional synergies are expected with the staged development of Copper World and Cactus

Accretive to Hudbay's shareholders on a net asset value per share basis and on a reserves and resources per share basis with the addition of a high-quality asset in a core jurisdiction, positioning Hudbay’s next phase of growth once Copper World is in production

Compelling premium for Arizona Sonoran shareholders with continued participation in the long‑term value of the Cactus project through ownership in Hudbay and immediate exposure to Hudbay’s diversified operating platform, significant free cash flow generation, and industry-leading organic growth pipeline. *

 

 

If you have any follow up questions for George about Arizona Sonoran, then please email us at [email protected]  or [email protected].

 

In full disclosure, Shad has a position in Arizona Sonoran Copper at the time of this recording and may chose to buy or sell shares at any time.

 

Click here to visit the Arizona Sonoran website to read over all the recent news.

 

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 Mike Larson, Editor-in-Chief at MoneyShow, to navigate a complex market landscape defined by geopolitical tension and shifting investor sentiment. Following the recent MoneyShow conference in Las Vegas, Mike breaks down the massive volatility in energy markets and why the "boring" sectors are suddenly becoming the stars of the show.

Key Discussion Highlights:

The Geopolitical Risk Premium in Oil: A deep dive into the impact of the conflict in the Middle East, the effective blockade of the Strait of Hormuz, and why crude prices hit the $120 mark before retreating.

The Strategic Petroleum Reserve (SPR) Response: Analyzing the IEA and G7’s "supply bazooka" and whether releasing 400 million barrels is enough to stabilize global markets long-term.

Sector Rotation and the Value Resurgence: Why the $XLE (Energy), $XLU (Utilities), and $XLF (Financials) are seeing increased interest as investors rotate out of growth and into value.

Inflation and the Federal Reserve’s Dilemma: How rising energy costs are complicating the inflation narrative, potentially pushing back expected rate cuts for 2026.

The Outlook for Precious Metals: Why Gold and Silver remain in a "chop" phase despite the global chaos and when we might expect the next leg up in the bull market.

 

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