Where the Smart Money Is Going Before the IPO |
April 14, 2026 Dear Reader, |
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I spent spring break in Mexico with my family. Everyone had a great time.
The kids snorkeled with sea turtles and sting rays, fed iguanas at the resort, had monkeys on their heads, and ate too much ice cream. The wife bathed in the sun. And I checked sailfish off the list of fish I haven’t caught. That is the fruit of the labor.
From there, I went right back to the labor and headed directly to the CEM Scottsdale Capital Event. It's a speed-dating event for early-stage companies and speculative inventors. But I had already consummated relationships with several of the companies there for myself and subscribers. In alphabetical order…
Aldebaran Resources (TSX-V: ALDE)(OTC: ADBRF) was there. It has a globally significant copper-gold porphyry resource in Argentina. It trades near C$3.00 as it heads toward a resource update this year and feasibility study next year. It is also spinning out a couple assets, including one with a three million ounce gold-equivalent resource, into a new company called Centauri, in which existing shareholders will receive shares. Speaking of existing shareholders, I am one, having financed it at C$0.30 back in 2020 and added shares along the way. How many times does 30 go into 300?
Blue Jay Gold was there. It’s currently private and just raised ~C$19 million at C$0.80, ahead of an IPO that will likely be at higher prices. The company just delivered a maiden resource at its 100%-owned Steller Gold Project in Yukon, outlining ~400,000 oz AuEq indicated and ~449,000 oz AuEq inferred at strong grades. We financed it last fall at C$0.60, and have warrants to boot. |
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Even with all of the volatility introduced by the war, a bear market isn’t yet guaranteed. |
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Growth is slowed and inflation is reigniting, so the key will be to watch and see if this is short term or something more persistent.
Regardless, the best course of action is to build a portfolio capable of withstanding the kind of environment that encourages these conditions. |
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Daura Gold (TSX-V: DGC)(OTC: DGCOF) was there. It continues to execute on a two-asset strategy, with momentum building at both Antonella in Peru and Cerro Bayo in Argentina. At Antonella, recent sampling returned standout grades including 55.83 g/t gold and 220 g/t silver, as well as multiple high-grade results from both the main zone and newly identified Antonella North veins, confirming a growing mineralized footprint. This mineralization is a continuation of the trend from its nextdoor neighbor, Highlander Silver, which trades at a C$1.8 billion market cap versus Daura’s C$28 million. More urgently, Daura is also drilling at Cerro Bayo, where it recently completed 14 holes across 10 targets. It must have liked what it saw, because it’s drilling three step-back holes already. Results are due out in a couple weeks. Daura trades at C$0.36. We financed it early last year in Private Placement Intel at C$0.06 with a full warrant at C$0.10. How many times
does six go into 36?
GreenLight Metals (TSX-V: GRL)(OTC: GRLMF) was there. We financed it privately as low as C$0.30 with warrants at C$0.45. It’s now listed and traded above C$0.50 last month. GreenLight entered 2026 with momentum building at its Bend Project in Wisconsin, where the company has now secured all key permits and is in the middle of an expanded drill program. The company received approvals from both the Wisconsin DNR and U.S. Forest Service, allowing for up to 7,000 meters of drilling, with two rigs mobilizing to site. This program will follow up on a highly successful Phase 1 campaign, which delivered strong copper-gold results including 34.25 meters at 3.74% CuEq and demonstrated both grade and continuity within the system. As my labor of love continues, I will have boots on the ground there later this month.
Revival Gold (TSX-V: RVG)(OTC: RVLGF) was there. We’ve financed it a few times going back to 2017, most recently at C$0.35 with warrants at C$0.45 as it trades over C$0.90. Revival continues to advance Mercur (Utah) towards near-term production, drilling consistently confirmed broad, shallow, heap-leachable oxide mineralization, including intervals like 1.0 g/t over 30.5m and 0.74 g/t over 38.1m. More importantly, step-out drilling is extending mineralization beyond the current resource footprint, pointing to expansion upside ahead of the PFS. Rick Rule discussed the company this past weekend on BNN, saying, “I’m a fairly large shareholder of Revival. I think this company is worth a substantial premium to its current share price. And I suspect that as they continue to derisk the projects, particularly the Mercur deposit in Utah, that either the market will take the share price of Revival up, or some other developer active in the Western United States will take the
company over.”
We’ll be consummating a new relationship in the next few weeks before other investors have a chance to date it. Details here. |
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Call it like you see it,
Nick Hodge
Editor, Resource Stock Digest |
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Nick specializes in private placements and speculations in early stage ventures, and has raised tens of millions of dollars of investment capital for resource, energy, cannabis, and medical technology companies. Read his full article archive here. Follow Nick on X @nickchodge. |
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