Honey Badger Silver (OTCMKTS:HBEIF) stock closed with double digit rally in Thursday’s trading session. Here is why.
On Thursday, HBEIF stock soared 18.55% to close at $0.0574 with more than 363k shares, compared to its average volume of 104k shares. The stock has moved within a range of $0.0410 – 0.0577 after opening the trade at $0.0410.
Message from the Chairman
Chairman of Honey Badger Silver (OTCMKTS:HBEIF), Chad Williams has provided an update about the latest activities of the company, intended for value generation and transitioning into a high-growth silver company. Their management team and Board have been strengthened, with value accretive silver assets being included in their portfolio. As of now, the new team owns and controls over 15% equity in Honey Badger, and is dedicated towards their goal of creating a top-tier entity with maximum exposure to silver.
Mr. Williams emphasizes they are looking to aggregate three categories of silver assets to form a unique kind of silver company. While they focus on acquiring silver resources in the ground, they will also continue to incorporate value to our high-grade silver assets. For the latter, they have already accumulated large-scale holdings in major historic silver camps such as Plata in the Yukon. The final step is to create organically or acquire silver royalties and/or streams.
Honey Badger is soon going to become an investment vehicle, which could be envisioned as an alternative to a silver ETF. Even if the value of company shares (like a silver commodity ETF) goes up and down with the price of silver, the management and Board will work to seek accretive silver growth opportunities and add value to existing silver assets, using their expertise in mining.
“Our vision for Honey Badger involves aggregating three categories of silver assets that will create a unique type of silver company”, said Chad Williams. “We will seek to acquire silver resources in the ground; we will also continue to add value to our high-grade silver assets – an asset type in which we have already accumulated large-scale holdings in major historic silver camps such as Plata in the Yukon discussed below; and we will look to create organically or acquire silver royalties and/or streams. We anticipate exciting news on the horizon as we strive to generate value in a diversified silver asset portfolio.”
HBEIF stock is trading above the 20-Day and 50-Day Moving averages of $0.0506 and $0.0512 respectively. However, the stock is trading below the 200-Day moving average of $0.0794. The stock is down 12% over the past week.