The KE Report

As geopolitical tensions in the Middle East muddy the economic waters, market veterans Rick Bensignor and Dana Lyons dive deep into the technical "cracks" forming beneath the surface of the major indices. This week’s discussion centers on a critical transition: moving away from overextended growth and the "Magnificent 7" toward defensive positioning, tactical cash reserves, and the long-term structural bull case for energy and select mining stocks.

Segment 1 & 2 - In this podcast segment, Rick Bensignor, President of Bensignor Investment Strategies, discusses his tactical approach to the current "choppy" markets and why he has been raising cash in anticipation of a potential correction. He analyzes technical signals for the S&P 500, the implications of rising 10-year Treasury yields, and provides his outlook on the energy, precious metals, and cryptocurrency sectors.

Click here to visit the In The Know Trader website - https://intheknowtrader.com/

 

Segment 3 & 4 - In this interview, Dana Lyons, a fund manager and editor of Lyons Share Pro, discusses current market volatility and his use of inverse ETFs to hedge against near-term risks in broad indexes. He also provides technical outlooks on various sectors, including a bullish long-term view on energy stocks and a cautious perspective on the precious metals complex.

Click here to visit the Lyons Share Pro website and learn more about Dana’s investment services - https://lyonssharepro.com/

 

If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!

 

For more market commentary & interview summaries, subscribe to our Substacks:

The KE Report: https://kereport.substack.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.

Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnican on X) and publisher of Goldfinger Capital on YouTube and Substack, joins us for another wide-ranging discussion on the shifting sector sentiment, the technical outlook on gold, silver, copper, the fundamental valuations in producers and developers, thoughts on recent merger and acquisition deals, and the value propositions in 3 exploration stocks.

 

We start off unpacking the seasonality of the metals and mining stock prices from tax loss selling season, into the year-end Santa Claus rally, the blistering Q1 run higher in January, the post-VRIC correction and peak in investor sentiment late in that month, the February chop, and the PDAC curse and further corrective moves down in March.

 

Robert fields a few of our questions on how he is viewing the changes in valuations to the gold and silver stocks from last year into this year, and even from January peaks to recent corrective moves. 

We opine what aspects are important with regards to contrast in PM producers margin expansion versus their more recent share price corrections

Robert highlights a few P/NAV considerations for producers and developers, that have changed over the last year

The discussion then shifts to why we aren’t witnessing a bigger string of M&A transactions and why the valuations aren’t higher?

The conversation on gold stocks ranges from valuations in large producers like Newmont and Agnico Eagle down to quality developers like Banyan Gold (TSXV:BYN)(OTCQB:BYAGF) and best-in-class advanced explorers like Snowline Gold Corp. (TSX:SGD)(OTCQB:SNWGF).

We also dissect the nuance around ounce-in-the-ground valuations, and the other criteria that can affect market perceptions, using the Fresnillo takeover of Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) as a case study.

 

Next we dive into the copper market, and how this is where we are actually seeing more merger and acquisition deals.

Robert highlights the recent takeover of Arizona Sonoran Copper Company Inc. (TSX: ASCU; OTCQX: ASCUF) Cactus Project at all-time highs by Hudbay Minerals Inc. (TSX, NYSE: HBM) as the more ideal type of acquisition that we’d like to see more of in this space.

We also note the Eldorado Gold acquisition of Foran Mining, and the Faraday Copper acquisition of BHP’s San Manuel Project as 2 other recent copper M&A deals.

He also highlights the lack of quality tier-1 gold and silver development projects, and that this may be why more of the senior gold producers are focused on getting strategic positions into copper assets.

 

With regards to the explorers, Robert is focused on exciting mineral belts that may host a string of new discoveries in US states like Idaho, Nevada, and Arizona or Canadian provinces like British Columbia or the Yukon.

Robert highlights 3 explorers with compelling news catalysts on tap that have his attention this year in Kingfisher Metals Corp. (TSXV:KFR) OTCQB:KGFMF), StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF), and Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF)

 

Wrapping up, Robert provides some best practices regarding navigating the trading volatility, when raise cash in one’s portfolio, when to considering trimming or selling, and how to rotate funds based on fundamental or technical factors.

 

Follow Robert’s analysis on Substack

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https://ceo.ca/@goldfinger

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Click here to follow Robert on X/Twitter

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https://www.youtube.com/@GoldfingerCapital/videos

 

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 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: 

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.

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.