Crescat’s Live Market Call

Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

In this Tavi Costa solo episode, he discusses key macroeconomic trends, particularly the inflationary impact of labor strikes and rising fiscal spending, which is largely non-growth-oriented. Crescat emphasizes the potential for heightened inflation due to increased global money supply and constrained commodity supplies, particularly in mining and agriculture. Silver is highlighted as a promising investment, as we believe demand is expected to rise due to supply shortages and shifting market dynamics. 0:00 Introduction2:22 Tavi Costa Macro32:17 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

Key topics discussed include the rising S&P 500 price-to-book ratio, the growing divide between cheap value stocks and overvalued growth stocks, total known ETF gold holdings, and gold reaching record highs. Additionally, the video addresses the tech sector's overweight position in the S&P 500 and provides updates on the latest mining and exploration news. 0:00 Introduction 1:57 Kevin Smith Macro 17:34 Tavi Costa Macro 42:49 Quinton Hennigh Introduction 1:19:19 Goliath Resources Update 1:21:58 Rackla Metals Update 1:25:25 Novo Resources Update 1:29:35 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

0:00 Introduction1:55 Kevin Smith Macro18:22 Tavi Costa Macro40:11 Quinton Hennigh Introduction1:04:14 Snowline Gold Update1:13:46 Goliath Resources Update1:15:09 Brixton Metals Update1:25:26 Hannan Metals Update1:28:07 Core Assets Update1:30:53 Altamira Gold Update1:33:55 Juggernaut Exploration Update1:34:54 Maronan Metals Update1:36:22 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

0:00 Introduction2:06 Kevin Smith Macro10:26 Tavi Costa Macro38:20 Quinton Hennigh Introduction56:43 Snowline Gold Update1:20:19 Goliath Resources Update1:25:18 Sitka Gold Update1:28:04 Brixton Metals Update1:33:07 Juggernaut Exploration Update1:34:02 Nevada King Update1:36:16 Puma Exploration Update1:37:08 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

Discussed the anticipated market shift from large-cap growth to small-cap value stocks and highlighted significant declines in semiconductor stocks. The call also included updates on mining projects, particularly positive drilling results at a few junior explorers, indicating promising mineral intrusions. 0:00 Introduction2:03 Kevin Smith Macro13:47 Tavi Costa Macro38:57 Goliath Resources Update57:16 Sitka Gold Update1:06:02 Rackla Metals Update1:07:24 Tectonic Metals Update1:13:32 Fathom Nickel Update1:15:59 Red Pine Exploration Update1:17:32 Nevada King Update1:22:18 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

0:00 Introduction 1:52 Kevin Smith Macro 10:34 Tavi Costa Macro 42:37 Quinton Hennigh Introduction 1:09:52 Mogotes Metals Update 1:15:28 PJX Resources Update 1:16:19 Intrepid Metals Update 1:21:22 Barksdale Resources Update 1:22:21 BCM Resources Update 1:25:39 Goliath Resources Update 1:26:22 Kingfisher Metals Update 1:27:30 Eskay Mining Update 1:28:47 Newfound Gold Corp Update 1:32:14 Lion One Metals Update 1:34:01 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/

0:00 Introduction2:22 Kevin Smith Macro18:44 Tavi Costa Macro40:48 Quinton Hennigh Introduction48:00 Victoria Gold Corp 1:10:24 Sitka Gold Update1:21:13 Lion One Metals Update1:25:20 Nevada King Update1:27:23 ConclusionFind us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin Tavi Costa, Macro Strategist, Twitter: @tavicosta LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence/disclosures/