Honey Badger Silver acquires the massive Prairie Creek deposit in a transformational move aiming to realize the Hunt Brothers vision for this 400 million ounce AgEq project.
400 Million Ounce Silver (AgEQ) Acquisition
March 30, 2026
Honey Badger Silver ($TUF.V) is acquiring in Canada, for a ridiculously low price of $10M CAD cash + $2M in stock, one of the largest silver undeveloped/partially developed property in the world.
This giant deposit has 400 million ounces of silver (AgEq), a full feasibility study, mining permits and agreements in place with the local communities who want this mine to be built as quickly as possible.
Why are the acquisition costs so low?
Chad Williams, the Honey Badger CEO, was able to negotiate it from the Resource Capital Fund (RCF) which was closing and liquidating its last holding! He was very aggressive: $2 million CAD non-refundable cash, no conditions, quick closing.
In a world where silver companies most often trade at $1, $2 or even $3 for silver in the ground, the purchase cost is only $0.03! Unbeatable!
TUF's transformation is timed perfectly
Chad Williams is quite a legend in our industry. Among other things, he founded Red Cloud, and also created Mine d’Or Orbec which he sold. He currently serves on the board of NewFound Gold Corp and Gelum Resources.
This mining entrepreneur created this silver vehicle 5 years ago to profit massively from what he saw as the coming huge bull market in the white metal.
This company builder, now, has the goods to deliver spectacular results in this silver bull market.
Post financing, the capitalization will be around 40 million dollars. This is still very cheap for a fully permitted Northwest territories property. With its other holdings, Honey Badger Silver will control approximately 550 million ounces of silver equivalent ounces at an in- the-ground price of 7.2 cents.
The Prairie Creek Deposit located in the Nahanni National park stayed too long in the wrong hands (Norzinc then Canadian Zinc) with the high silver prices. It is now coming back to its original destination.
The timing is perfect: we are in a high silver and zinc price environment, coupled with an improved First Nation and the territorial and national Government support for mining projects.
As you know, the Hunt Brothers were Texas oil billionaires who became widely known for their attempt to corner the global silver market.
They acquired the Prairie Creek property in the mid-1960s and undertook an ambitious development program. They financed and constructed extensive underground workings, as well as a mill, processing plant, and the necessary access road and supporting infrastructure.
Their total investment reached approximately $60 - 65 million in 1980s dollars. By 1982, the mine was 90 - 95% complete and only a few months away from entering production.
At that time, Prairie Creek was essentially designed as a silver mine, aligned with their broader strategy to profit from rising silver prices.
The Project hosts a historic resource estimate of 9.8 million tonnes of Measured & Indicated Resources, grading 139 g/t Ag, 9.7% Zn and 8.8% Pb for a total of 240 million ounces of AgEq at a silver equivalent grade of 766 g/t plus 6.4 million tonnes of Inferred Resources grading 150 g/t Ag, 12.9% Zn, and 6.7% Pb, hosting 167 million ounces of AgEq at a silver equivalent grade of 813 g/t.
44 years after the Hunt Brothers developed the Prairie Creek Deposit, Chad Williams, thanks to historically high silver price, aims to make the Hunt Brother's dream come true. If he does, shareholders should profit handsomely.
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