1. If you want to make outsized returns in the junior mining sector, you only need to look for two things: catastrophic mispricing and the quiet accumulation of smart money.
   Right now, Honey Badger Silver (TSX-V: TUF) is flashing bright green on both metrics.

Let’s put that into perspective:

The Resource: Flagship project w/ 400 Mozs AgEq at ~800 g/t AgEq high-grade with Government and First Nations support. You are looking at a 400 million Silver Equivalent (AgEq) ounce orebody. They just bought ounces in the ground for roughly $0.03 an ounce.

20 year mine life: silver production forecast of 2,400k Oz/year, per 2021 PEA. Assumes a margin of $60/oz (current silver price of $80/oz and all-in cost of $20/oz), gross margin on Silver alone = $144MM USD per year. Add in 100MM lbs of Zinc (spot zinc price of $1.6/lb minus $0.6.lb of all-in cost, net margin of $1/lb), that’s over $250MM USD of EBITDA per year without any consideration of Lead (annual forecast production of 100 - 120 MM lbs as well). Estimated annual EBITDA could be $300 - $450MM+ USD/year.

The Sunk Cost: This isn’t a raw piece of moose pasture. This is an advanced asset with winter roads, First Nations Impact and Benefit Agreements (IBAs) already signed, and $5.7 million in reclamation bonds included. In today’s dollars, there is easily $200 million worth of historical capital expenditure and engineering already poured into this ground.

2. Follow the Money: Massive Insider & Sprott Support
   You can ignore press releases, but you can never ignore the tape. The people closest to this company are buying with both hands.
   Just yesterday (May 14), legendary billionaire resource investor Eric Sprott dropped a massive vote of confidence. Through his holding company, he stepped into the open market and bought 8,500,500 shares at an average price of $0.72, handing over $6.12 million.
   This wasn’t a minor portfolio adjustment. This acquisition pushed Sprott’s holdings past the 10% threshold (he now owns 10.1% on a partially diluted basis, holding nearly 12.8 million shares and 3.3 million warrants, plus 5 million subscription receipts). When a guy like Sprott takes a high-conviction, long-term position of this size, it’s a signal you cannot afford to ignore.
   And it’s not just Sprott. The insiders are eating their own cooking:

Chad Williams, Chairman bought from open market 100,000 shares at 0.63 and again 80,000 shares at 0.8043.

In the $11.5 million financing that closed in April 2026 to fund the PC Silver acquisition, insiders and company advisors swallowed up $1.16 million (over 10% of the total amount placed).

Prior to that, in the January 2026 financing, insiders stepped up with another $0.5 million.

Zero insider sale in 2026, despite the crazy rally so far.

Management and legendary backers are front-running the retail crowd because they know exactly what they are sitting on.

Full article here

https://open.substack.com/pub/investingincompoundgrowth/p/the-ultimate-silver-heist-why-honey?selection=82195b54-220c-4c39-b892-2eac52a72294&r=c8rpe&utm_medium=ios

Disclaimer: The author of this article owns shares and/or other securities of Honey Badger Silver Inc. (TSX-V: TUF) and stands to benefit from any increase in the price of the stock. Therefore, the author is highly biased. This article is for informational, educational, and entertainment purposes only and does not constitute financial, investment, or legal advice. Junior mining stocks are highly volatile and carry a significant risk of loss. Always conduct your own thorough due diligence, verify all facts independently, and consult with a licensed financial advisor before making any investment decisions.

#Silver #miningstocks #ericsprott #10bagger #fintwit