As the text below (that I copied from the uploaders description box) you can see that this prequel cost less than $5000 to produce.
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www.thehuntforgollum.com - Official Site
Independent Online Cinema presents an unofficial and free high-concept Lord of the Rings prequel made for under $5,000. The film remains true to the style of Peter Jackson's films and the world of J.R.R. Tolkien telling how Aragorn tracked down Gollum between The Hobbit & The Fellowship of the Ring.
The film achieved over 1 million views in the first week of release in May 2009. (Dailymotion) and wide press acclaim for it's high production values on a microbudget.
This Youtube version is slightly extended with 1 scene added back in.