Aurum Resources (AUE:AU) has announced Boundiali indicated gold resources grows by 53% in two month
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The platinum price broke US$1,600 per ounce on Monday (September 29), its highest level since April 2013.
What’s moving the platinum price? A number of factors are at play in this notoriously volatile market.
As a precious metal, nearly a quarter of demand for platinum comes from the jewelry sector. When the gold price is high, as it is now at nearly US$3,900 per ounce, platinum jewelry becomes an attractive, lower-cost alternative.
With more than 70 percent of demand for platinum metal coming from the industrial and automotive sectors, the market is highly price sensitive to economic cycles. However, despite the current economic uncertainty that’s driving gold higher, the platinum price is being buoyed by stable demand in the auto sector, emerging demand in the hydrogen fuel cell industry and persistent supply challenges out of major platinum-producing nations like South Africa.
Platinum supply under pressure
Supply constraints are an ongoing trend in the platinum market and a major driver of prices in 2025.
In its Q2 Platinum Quarterly, the World Platinum Investment Council (WPIC) predicts that global platinum mine supply will drop by 6 percent to 5.43 million ounces for this year.
Heavy rainfall and flooding in top producer South Africa in the first quarter of the year had a major impact on an industry already reeling from high-cost electricity and dwindling reserves.
In late August, Paul Dunne, CEO of Northam Platinum Holdings (JSE:NPH) in South Africa, told Reuters that a higher platinum price in 2025 will likely not do much to alleviate the pressures facing production in the country.
“Recent price appreciation is offering some relief to the (platinum-group metals) sector,” he said in a statement. “However, it is still not yet at levels that will support sustainable mining across the industry and certainly not the much-needed development of new operations.”
Suffice it to say that problems in the supply side will continue to support platinum over the longer term.
Platinum demand seen as sustainable
As for platinum demand, Mykuliak sees a few key important drivers, including autocatalysts for hybrid vehicles, increased hydrogen adoption for industrial uses and Chinese demand for platinum jewelry as an alternative to gold.
In the automotive industry, platinum is used in catalytic converters for vehicle exhaust systems for emissions control. The rise of electric vehicles (EVs), which do not require catalytic converters to control emissions, is expected to cut into platinum demand over time.
However, high costs and range anxiety are leading auto buyers to choose hybrids over battery EVs. Because hybrid engines still require catalytic converters, the auto sector continues to be a reliable source for platinum demand.
In the hydrogen sector, platinum has a role as a catalyst in the proton exchange membrane electrolyzers used for green hydrogen production and in hydrogen fuel cells. The WPIC has noted that the hydrogen market be ‘a meaningful component of global demand by 2030 and potentially the largest segment by 2040.’
As for jewelry demand, the WPIC is predicting an increase of 11 percent year-on-year to 2.23 million ounces in 2025. China is expected to represent more than one quarter of that growth as the fabrication of platinum jewelry in the region is expected to grow by 42 percent to 585,000 ounces.
Platinum price outlook
The platinum price has since pulled back from the US$1,600 level, coming in at US$1,558 in midday trading on Thursday (October 2). But a correction is expected in the short term, explained Mykuliak, who believes the fundamental outlook for the precious metal is still positive.
“Looking ahead, I expect volatility. My base case is a US$1,650-US$1,750 range by the year-end, with possible dips toward US$1,450 if profit-taking intensifies,” she said. “On the upside, if South African power disruptions worsen or hydrogen policies accelerate, US$1,850-US$1,950 is realistic, with US$2,000 also within reach.”
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) announces that it has revised the terms of its previously announced non-brokered private placement (the ‘Offering’). The Company will now offer up to 7,500,000 units (each, an ‘AI Unit’) at a price of $0.20 per AI Unit for gross proceeds of up to $1,500,000 pursuant to the accredited investor exemption (the ‘Accredited Investor Exemption’) under Section 2.3 of National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106’). In addition, the Company will also offer up to 11,111,112 units (each, a ‘LIFE Unit’) at a price of $0.18 per LIFE Unit for gross proceeds of up to $2,000,000 pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the ‘Listed Issuer Financing Exemption’).
Each AI Unit will consist of one common share of the Company (each, a ‘Share‘) and one-half-of-one share purchase warrant (each whole warrant, an ‘AI Warrant‘). Each AI Warrant will entitle the holder to acquire an additional common share of the Company at a price of $0.30 for a period of twenty-four months following closing of the Offering, subject to accelerated expiry in the event the closing price of the Shares is $0.50 or higher for ten consecutive trading days.
Each LIFE Unit will consist of one Share and one-half-of-one share purchase warrant (each whole warrant, an ‘LIFE Warrant‘). Each LIFE Warrant will entitle the holder to acquire an additional common share of the Company at a price of $0.24 for a period of twenty-four months following closing of the Offering.
The Company expects to utilize the proceeds of the Offering for advancement of ongoing exploration and drill work at the La Union Gold and Silver Project, upcoming exploration work at the North Island Copper Property, and for general working capital purposes. The Company anticipates that UK-based institutional investor, Sorbie Bornholm LP, will participate in a portion of the Offering.
There is an offering document related to the Offering that will be made available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at: www.questcorpmining.ca. Prospective investors should read this offering document before making an investment decision.
In connection with completion of the Offering, the Company will pay finders’ fees to eligible third-parties who have introduced subscribers to the Offering. All securities issued in connection with the Accredited Investor Exemption will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. All securities issued in connection with the Listed Issuer Financing Exemption will not be subject to a hold period. Completion of the Offering remains subject to receipt of regulatory approvals.
About Questcorp Mining Inc.
Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.
Contact Information
Questcorp Mining Corp.
Saf Dhillon, President & CEO
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031
This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the intended use of proceeds from the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269182
News Provided by Newsfile via QuoteMedia
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President Donald Trump made a social media post about Hamas on Sunday evening, minutes before the deadline for a peace proposal passed.
The deadline was 6 p.m. ET Sunday. In a message on Truth Social, Trump wrote that there had been ‘very positive discussions with Hamas, and Countries from all over the World (Arab, Muslim, and everyone else) this weekend, to release the Hostages, end the War in Gaza but, more importantly, finally have long sought PEACE in the Middle East.’
‘These talks have been very successful, and proceeding rapidly,’ Trump said. ‘The technical teams will again meet Monday, in Egypt, to work through and clarify the final details.’
The president added that the first phase of the peace plan ‘should be completed this week.’
‘I am asking everyone to MOVE FAST,’ Trump emphasized. ‘I will continue to monitor this Centuries old ‘conflict.’’
Trump added, ‘TIME IS OF THE ESSENCE OR, MASSIVE BLOODSHED WILL FOLLOW — SOMETHING THAT NOBODY WANTS TO SEE!’
Trump previously announced the deadline in an Oct. 3 post on Truth Social, delivering an ominous warning to Hamas about accepting the deal.
‘If this LAST CHANCE agreement is not reached, all HELL, like no one has ever seen before, will break out against Hamas,’ Trump wrote. ‘THERE WILL BE PEACE IN THE MIDDLE EAST ONE WAY OR THE OTHER. Thank you for your attention to this matter!’
The peace proposal was unveiled by Trump in late September.
The plan calls for an end to Israel’s military operations, the disarmament of Hamas and the reconstruction of the Gaza Strip under a Palestinian governing body overseen by a U.S.-led international coalition.
Israeli Prime Minister Benjamin Netanyahu’s reportedly agreed to the 20-point plan, per Reuters.
Fox News Digital’s Caitlin McFall and Bonny Chu contributed to this report.
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Democratic Sen. John Fetterman of Pennsylvania, a staunch and unflinching Israel supporter, wants Hamas to accept the peace deal President Donald Trump is aiming to help broker, and is calling out pro-Palestinian protesters for not demanding that Hamas agree to the peace deal.
‘Good morning to everyone except all the protesters who aren’t protesting for Hamas to accept the peace deal,’ the senator declared in a Sunday post on X.
In a post on Friday, Fetterman shared a screenshot of a Mediaite headline that read, ‘CNN’s Dana Bash Wonders Why Pro-Palestine Movement Isn’t Pressuring Hamas to Accept Trump Deal’ — in his post, the senator commented, ‘For those protesters: Hamas > Peace,’ adding, ‘No flotilla, blocking a highway or disrupting public events demanding Hamas to take the peace deal.’
Israel went to war against Hamas in response to the heinous October 7, 2023, attack in which terrorists committed atrocities including mass murder, rape, and kidnapping. But Trump posted a statement on Truth Social last week in which Hamas declared willingness to negotiate a deal including the release of all hostages, dead and alive.
‘Hamas must choose peace or its own destruction. Send the hostages home, now. As an unapologetic supporter of Israel, the Gaza War must end to have peace and security for Israel and Palestinians. Politics aside, credit to @POTUS’ peace plan to get to this encouraging point,’ Fetterman noted in a Friday post on X, sharing a screenshot of a Reuters headline that said, ‘Hamas says it agrees to release all Israeli hostages under Trump Gaza plan.’
Trump indicated in a Sunday evening Truth Social post, ‘There have been very positive discussions with Hamas, and Countries from all over the World (Arab, Muslim, and everyone else) this weekend, to release the Hostages, end the War in Gaza but, more importantly, finally have long sought PEACE in the Middle East.’
Later in the post, he warned, ‘TIME IS OF THE ESSENCE OR, MASSIVE BLOODSHED WILL FOLLOW — SOMETHING THAT NOBODY WANTS TO SEE!’
Fetterman accused the Democratic Party of an ‘ongoing and escalating betrayal of Israel,’ in a post on X last month.
Sharing a screenshot of a headline from The Hill that read, ‘Pair of Senate Democrats charge Israel with ‘ethnic cleansing’ of Palestinians,’ Fetterman firmly pushed back.
‘I reject this in the strongest terms. My party’s ongoing and escalating betrayal of Israel is gross and outrageous,’ he asserted.
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A growing number of lawmakers on both sides of the aisle have declared they’re forgoing their paychecks as the government shutdown drags on.
The federal government has been shut down for nearly a week after Senate Democrats rejected Republicans’ plan to fund agencies through Nov. 21 multiple times.
Reps. Chip Roy, R-Texas, Ashley Hinson, R-Iowa, Tom Barrett, R-Mich., Mariannette Miller-Meeks, R-Iowa, and Rob Bresnahan, R-Pa., are among the Republicans who wrote to the Chief Administrative Officer of the U.S. House of Representatives asking for their pay to be withheld during a shutdown.
Democrats like Reps. Josh Gottheimer, D-N.J., and Lou Correa, D-Calif., have requested the same.
But lawmakers requesting their pay be withheld cannot forgo it altogether, because federal law requires them to be paid.
Article I of the Constitution states, ‘The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States.’
Further, the 27th Amendment prevents any changes to congressional pay until after the next election.
Most House and Senate lawmakers are paid $174,000 yearly — a figure that has not changed since 2009 — while members of congressional leadership can earn more.
A source familiar with the matter told Fox News Digital that members of Congress can elect to have their pay withheld until a shutdown is over, but they must receive that as backpay when the government is funded again.
Meanwhile, Rep. Joe Morelle, D-N.Y., the top Democrat on the Committee for House Administration, told Bloomberg Government last week that those checks can go into an account separate from lawmakers’ usual salaries. He told the outlet, ‘It’s an administrative way of withholding pay for people who choose to.’
Congressional staffers, meanwhile, automatically miss paychecks if their pay period falls during a government shutdown — but that is also backpaid when the shutdown ends.
Some lawmakers, like Sens. Ashley Moody, R-Fla., and Lindsey Graham, R-S.C., have announced they would donate their paychecks for the duration of the shutdown.
‘Each day the government remains closed, I will be donating my salary to the Crisis Center of Tampa Bay, which provides help to vulnerable populations who may be impacted by this reckless choice,’ Moody said in a statement last week.
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