Crescat's Live Market Call - February 13th, 2026 Commentary

In this Live Market Call, Kevin Smith, CIO, examines rising absolute return dispersion, historical S&P 500 maximum drawdowns, and the surge in AI-related debt issuance. The episode also features exploration mining updates led by Dr. Quinton Hennigh, including developments from Eloro Resources, Alpha Exploration, and Novo Resources, highlighting progress across Crescat’s portfolio and the broader precious metals opportunity. 0:00 Introduction 2:02 Kevin Smith Macro 34:31 Quinton Hennigh, PhD, Introduction 36:42 BCM Resources Update 38:15 Eloro Resources Update 40:13 Harvest Gold Update 46:27 Alpha Exploration Update 48:05 Kingfisher Metals Update 51:56 Snowline Gold Update 55:12 Eskay Mining Update 56:09 Novo Resources Update 57:32 Osisko Update 59:58 Newfound Gold Update 1:02:30 Conclusion Find us Online: Website: www.crescat.net Crescat Twitter: @crescat_capital Kevin Smith, CIO, Twitter: @crescatkevin LinkedIn: Crescat Capital Important Disclosures: https://www.crescat.net/due-diligence...