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Abra Construction At 97% Complete – First Ore Stockpiled For January Processing
Managing Director, Tony James commented, “Record underground development in November with delivery of the first 9,000t of ore to the ROM pad along with successful plant commissioning to date puts Abra on the verge of a quick transition into production. Recruitment and other operational readiness activities are well advanced in preparation for January production”.
Figure 1 – First material being tipped into the crusher during commissioning (Photo 26 November).
Figure 2 – Crushing and screening plant commissioning (Photo 26 November).
The following link will show a short video of the Abra crusher commissioning. https://youtube.com/shorts/iSG58MiW_3o
Update on Abra Project progress
Overall progress continues as planned, with first concentrate production expected in Q1 CY2023, following ore commissioning in January 2023. Practical completion of the processing plant is now expected ahead of schedule in December 2022. The processing plant engineering, procurement and construction has reached 99% complete. Piping and electrical works have made significant progress and at the end of November were 96% and 92% complete, respectively. Mechanical items installation is almost complete at 99%.
In November, the first material was crushed and screened as part of the staged commissioning process. The crushing plant ran at design capacity and all commissioning milestones were successfully achieved. Dry commissioning also progressed in most areas of the plant including water and air services, tailings and concentrate thickening, grinding and reagents. Dry commissioning of the remaining areas will be completed in December. Water commissioning commenced in the tailings and concentrate thickening areas of the plant and the remaining areas are expected to be wet commissioned by the end of December. The remaining commissioning schedule is unchanged from the last update and is shown below in Table 1.
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Anteros Metals
Investor Insight
Anteros Metals offers investors exposure to a diversified portfolio of critical and base metal projects in Newfoundland and Labrador, advanced through a proprietary, data-driven exploration approach. By combining high-probability targeting with assets at multiple stages of development, the company reduces exploration risk, accelerates discovery timelines, and positions itself to benefit from the rising demand for metals essential to the global energy transition.
Overview
Anteros Metals (CSE:ANT) is a Canadian junior exploration company focused on discovering and advancing high-value mineral deposits across Newfoundland and Labrador. The company’s 100 percent owned portfolio spans 2,775 hectares and hosts nine commodities, including copper, cobalt, nickel, manganese, zinc, and other metals critical to clean energy technologies and industrial growth. Five of these are designated as critical minerals by the Canadian government, underscoring the strategic importance of Anteros’ asset base.
At the core of Anteros’ strategy is the use of proprietary data science techniques to integrate historical exploration records with modern geoscientific data. This approach enables the company to identify the most prospective targets before committing to extensive fieldwork, reducing costs, shortening timelines and increasing the probability of discovery. The portfolio is deliberately balanced across the exploration cycle – from early-stage prospecting at Hopedale to advanced exploration at Knob Lake – ensuring a continuous pipeline of projects that can move toward development while maintaining investor exposure to new discovery potential.
Anteros’ operations benefit from Newfoundland and Labrador’s long history of mineral production, a supportive regulatory framework and established infrastructure. The company’s focus on high-grade, infrastructure-accessible deposits provides strong economic leverage, while its experienced leadership team, with over a century of combined exploration, mining, and financial expertise, is well equipped to execute on its growth strategy. By combining technological innovation with geological expertise, Anteros Metals is positioned to deliver long-term shareholder value through discovery, development, and strategic partnerships.
Company Highlights
- Four 100 percent owned properties in Newfoundland and Labrador targeting critical and base metals including copper, cobalt, nickel, manganese, zinc and others vital to green technologies.
- Flagship Knob Lake iron-manganese project: advanced exploration stage with historical resource; strategically located near Schefferville, Québec, and adjacent to major iron ore infrastructure.
- Havens Steady VMS project: new 2025 sampling confirms the prospectivity and strike extension potential of the Main Mineralized Zone; road accessible and situated in a proven polymetallic district.
- Strickland project: seven mineralized zones with significant silver-lead-zinc and gold potential; located near the Hope Brook gold deposit.
- Hopedale Project: nickel-copper-cobalt focus, 80 km south of Voisey’s Bay, with untested EM conductors and unexplained geochemical anomalies.
- Portfolio spans early to advanced exploration stages, ensuring a steady pipeline of project advancement and diversified commodity exposure.
- Leadership team with over a century of combined experience in exploration, mining and financial markets.
Key Projects
Knob Lake
Located within the Western Labrador Trough, just 2.5 km south of Schefferville, Québec, Knob Lake is Anteros’ flagship advanced exploration project. This superior-type iron deposit is hosted in the Sokoman Formation, a geological unit well known for high-grade direct shipping ore (DSO) potential, often exceeding 60 percent iron.
Historical work includes 2,746 metres of diamond drilling, which delineated a resource estimate of 5.08 million tonnes grading 54.7 percent iron (measured and indicated) and 643,800 tonnes grading 51.5 percent iron (inferred)1. Although this estimate is historical in nature, it underscores the scale and quality of the deposit, which remains open along strike and at depth.
The property’s proximity to Tata Steel’s Timmins mine and other past-producing operations, along with direct rail, road and port access, gives it excellent development potential. Recent digital modelling and geophysical surveys have further refined high-grade targets, paving the way for future resource expansion and economic evaluation.
¹This historical mineral resource estimate is from a Technical Report entitled Technical Report: Schefferville Area Phase I DSO Iron Projects Resource Update, Western Labrador – NE Québec, Canada by Maxime Dupéré dated June 27, 2014 and is filed on SEDAR (www.sedar.com). The Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), NI 43-101F1, and with CIM standards and Mineral Resource best practices. The independent QP believed project data was suitable for mineral resource estimation at that time. The stated resource uses an iron cut-off grade of 50%, and grades were not capped. An independent Qualified Person will be required to compile and validate historic Property data, model the data, and estimate the mineral resource to obtain a current mineral resource. It is envisaged that this will involve open pit optimization. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Anteros Metals Incorporated is not treating the historical estimate as a current mineral resource.
Haven Steady
Situated 40 kilometres southeast of Buchans in the Central Newfoundland Gold Belt, Havens Steady is within a proven volcanogenic massive sulphide (VMS) district renowned for its polymetallic potential. The property is road accessible and has been the focus of 8,048 metres of historical drilling, which identified long intersections of continuous mineralization, including 97.7 metres grading 9.2 g/t silver, 0.33 percent lead, 1.57 percent zinc, and 0.04 percent copper and 68 metres grading 11.8 g/t silver, 0.55 percent lead, 1.45 percent zinc, and 0.09 percent copper.
In 2025, Anteros’ exploration program significantly advanced the project with a series of high-impact discoveries. Boulder prospecting of a historic copper-in-soil approximately located approximately 200 metres along strike from the modelled deposit returned assays as high as 0.22 g/t gold, 21.3 g/t silver, and 2.17 percent copper while sampled outcrops in the main zone returned assays as high as 1.56 percent Pb, 9.60 percent Zn, 0.15 percent Cu, 45 g/t Ag, and 0.37 g/t Au.
Channel sampling of broad mineralized surface outcrop commenced in July. Collectively, these results confirm the grade and expansion potential of the deposit and highlight Havens Steady as a prime candidate for follow-up drilling aimed at defining a large, high-grade VMS system.
Strickland
Strickland lies in the Central Newfoundland Gold Belt, a region with prolific epithermal gold and VMS deposits. The property features seven mineralized zones with a combined strike length exceeding 2 km. The mineralization is hosted within submarine felsic volcanic units, providing predictable horizons for efficient exploration.
Historical drilling of 7,857 meters has delineated zones with significant grades, including a historical mineral inventory of 260,000 tons at 195 g/t silver and 5.25 percent lead-zinc in the Main Zone². Historical assays from quartz veins report gold grades up to 17.9 g/t gold, emphasizing the property's epithermal gold potential.
Proximity to the mining infrastructure of the Hope Brook gold deposit bodes well for potential synergies of Strickland. Proposed exploration activities include advanced geophysical surveys, trenching and targeted drilling to define and expand the resource base.
²The resource inventories described are considered ‘historical’ in nature as defined by National Instrument 43-101, and do not conform to CIM Resource Classification Definitions. The historical estimate was reported by D.R. Prince in a 1981 Falconbridge Nickel Mines Ltd. report entitled “Summary of Work Performed from 1977 to 1980 on the Strickland-Porter Fee Simple Property, Newfoundland”. A qualified person has not done sufficient work to classify the historical estimates of the Strickland Deposit as current mineral resources. As a result, Anteros Metals Incorporated is not treating these historical estimates as current mineral resource estimates, but believes that these historic results provide an indication of the potential of the property and are relevant from a continuing exploration perspective.
Hopedale
In Labrador, the Hopedale property spans 20 sq km and is located 80 km south of the world-class Voisey’s Bay mine. The project targets magmatic nickel-copper-cobalt mineralization along the Churchill-Nain Suture Zone, a structure known for hosting globally significant deposits.
The property is underlain by troctolitic rocks intruded by northeast-trending gabbro dykes, a geological setting highly favourable for disseminated nickel-copper-cobalt sulphide mineralization. Historical stream sediment sampling revealed anomalous nickel, copper and cobalt values in proximity to untested electromagnetic conductors, suggesting strong potential for new discoveries. As a greenfield project, Hopedale represents a high-potential critical minerals opportunity, with upcoming exploration focusing on high-resolution geophysics to identify priority drill targets.
Leadership Team
Trumbull Fisher - CEO
A seasoned professional with 17 years of experience in mining and capital markets, Trumbull Fisher has successfully led multiple resource companies and brings a wealth of expertise in project generation and financing. Fisher has grown both private and public resource companies in roles as chairman, president, board member and advisor. Fisher holds a BA from Carlton University.
Alan Rootenberg - CFO
With over 35 years in corporate finance, Alan Rootenberg’s extensive knowledge ensures Anteros maintains its strong financial foundation. Rootenberg holds a CPA, CA designation and has extensive experience in mineral and oil and gas exploration, serving as chief executive officer, chief financial officer and director to publicly listed companies.
Wesley Keats – Strategic Advisor
Wesley Keats has 22 years of experience in the metals industry, having worked privately and for major and junior mining companies across seven countries. A fourth-generation prospector in Newfoundland, he is a partner of Planet X and VP of Exploration at Anteros. Keats is a co-recipient of the PDAC Bill Dennis Award for significant prospecting success.
Bill Kennedy - Director
Bill Kennedy is a second-generation prospector with 12 years of experience in exploration-centric business operations and development in Newfoundland and Labrador, and has over 20 years of experience in information technologies. Blending his passion for tech and mining, Kennedy continues to pioneer data science systems for mineral target vectorization.
Chris Morrison - Director
Chris Morrison has experience in the operation of multiple corporations, mining sector marketing and communications, and capital markets. Morrison is the marketing manager for Planet X Exploration and multiple public client companies, and the principal of SJ AV Studio – a digital multimedia audio/visual production facility focused on mining sector press and marketing material curation and distribution.
Emily Halle - Director
Emily Halle is co-founder, geologist, and managing director at Halle Geological Services. She holds degrees in commerce and geology, is a certified PMP, and has over 20 years of mineral exploration experience. She serves on the board of the Mining Association of Nova Scotia and is a Fellow of the Society of Economic Geologists.
Silver Price Update: Q2 2025 in Review
Unlike gold, however, silver also saw gains as industrial demand strained overall supply.
What happened to the silver price in Q2?
The quarter opened with the price of silver sinking from US$33.77 per ounce on April 2 to US$29.57 on April 4. However, the metal quickly found momentum and climbed back above the US$30 mark on April 9.
Silver continued upward through much of April, peaking at US$33.63 on April 23.
Volatility was the story through the end of April and into May, with silver fluctuating between a low of US$32.05 on May 2 and a high of US$33.46 on May 23.
Silver price, April 1 to July 17, 2025.
Chart via Trading Economics.
At the start of June, the price of silver soared to 14 year highs, opening the month at US$32.99 and rising to US$36.76 by June 9. Ultimately, the metal reached a year-to-date high of US$37.12 on June 17. Although the price has eased slightly from its high, it has remained in the US$36 to US$37 range to the end of the quarter and into July.
Silver supply/demand balance still tight
Various factors impacted silver in the second quarter of the year, but industrial demand was a primary driver in both upward and downward movements. Over the past several years, silver has been increasingly utilized in industrial sectors, particularly in the production of photovoltaics. In fact, according to the Silver Institute’s latest World Silver Survey, released on April 16, demand for the metal reached a record 680.5 million ounces in 2024.
Artificial intelligence, vehicle electrification and grid infrastructure all contributed to demand growth
At the same time, mine supply has failed to keep up, with the institute reporting a 148.9 million ounce production shortfall. This marked the fourth consecutive year of structural deficit in the silver market.
In a June 11 interview with the Investing News Network (INN), Peter Krauth, editor of Silver Stock Investor and Silver Advisor, said deficits are likely to get worse in the coming years as aboveground stockpiles are chipped away.
“(We have) flat supply, growing demand — demand that’s nearly 20 percent above supply," he said. "And our ability to meet those deficits is shrinking because we’re tapping into these aboveground stockpiles that have shrunk by about 800 million ounces in the last four years, which is equivalent to an entire year’s mine supply. So it’s the perfect storm."
But industrial demand can send the silver price in either direction.
The chaos caused by Trump’s on-again, off-again tariffs has caused some consternation among investors.
While gold and silver have traditionally both been viewed as safe-haven assets, silver’s increasing industrial demand has decoupled it slightly from that aspect. When Trump announced his "Liberation Day" tariffs on April 2, silver was impacted due to fears that a recession could cause demand for the metal to slip.
Although the dip in silver was short-lived, it was one of its steepest falls in recent years.
In an email to INN, Julia Khandoshko, CEO of Mind Money, said a recession could have consequences for silver, but she wouldn't expect them to last long:
“If a global recession really starts, silver will most likely nosedive momentarily. In terms of its 2025 performance, silver growth has been largely bolstered by consolidated precious metals group appreciation, additionally beefed up by relative USD weakness."
Geopolitics and the silver price
Adding to the tailwinds is a growing east-west divide. Due to its usage in industrial components, particularly those related to the military and energy sectors, and its role as a safe haven, silver is being influenced by geopolitics.
June’s price rally came alongside growing speculation that Israel was preparing to attack Iranian nuclear sites. Investors became concerned that war could disrupt international trade and oil movements in the region.
Ultimately, their concerns were proven right, and Israel launched attacks on June 12; the US then bombed key nuclear facilities on June 21. While the escalation is new, the underlying politics have been simmering for years.
Sanctions against Russia have strengthened support among the BRICS nations, which have been working to reduce their reliance on US dollar assets, such as treasuries, and increase trade in their own currencies.
But they may also be working to separate themselves from western commodities markets. In October 2024, Russia floated the idea of creating a precious metals exchange to its BRICS counterparts. If established, it could shake up pricing for commodities like silver, allowing Russia to circumvent sanctions and trade with its bloc partners.
While the exchange is still just an idea, a bifurcated world is not. While the US has targeted most nations with tariffs, it has singled out China. Much of the first half of the year saw the world’s two largest economies escalate import fees with one another, with China even restricting the export of rare earth elements to the US.
Discussions on national security and critical minerals have been at the forefront for the last several years. Still, they have become even more pronounced with the US and China on tense footing.
In a July 9 interview with INN, economist and author Dr. Nomi Prins suggested that national security demands are likely to offset the impact of any economic downturn on the broader economy.
“Even if that’s going to happen, industrial use value — building infrastructure, building national security, national energy priorities — needs a lot of silver, and there just simply isn’t enough supply out of the ground to meet the demand. That’s long-term demand above the ground. This has been a thing, but right now, because of these geopolitical forces and realignments, silver is going to drop more into that industrial role,” she said.
Silver price forecast for 2025
Overall, the expectation is that without new mine supply and dwindling aboveground stockpiles, silver is likely to remain in deficit for some time. Other factors, like Trump tariffs and geopolitics, aren’t likely to disappear either.
Demand could ease off if a global recession were to materialize, but safe-haven investing could offset declines.
For his part, Krauth thinks the silver price is likely to remain above the US$35 mark, but it could fluctuate and he suggested a rally in the US dollar could push the silver price down. However, he also sees some pressure easing on the recession side of the equation if the US signs tariff deals that would eliminate some uncertainty.
“US$40, let’s say by the end of this year," he said, adding, "Frankly, I could see something really realistically above that, maybe an additional 10 percent if the scenario plays out right."
He doesn’t think that’s the end. In the longer term, Krauth sees silver going even higher. He pointed to the current gold-silver ratio, which is around 92:1, compared to an average of 60:1 over the last 50 years.
“So we could go to, who knows, somewhere like maybe 40 or 30 to one in the ratio. That would be tremendous for silver — that could bring silver above US$100. I’m not saying that’s happening tomorrow, but in the next couple of years I would say that’s certainly something that could easily be in the cards,” Krauth said.
Fundamentals and geopolitics aligned for silver in the first half of 2025, and barring a recession, they are likely to provide tailwinds in the second half. Whether the price climbs or continues to find support at US$35 is yet to be seen.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
