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WPIC: Platinum to Hit Third Annual Deficit as Supply Fails to Meet Demand

Investing 6 Mins Read

Platinum is heading for a third consecutive annual deficit in 2025, with the World Platinum Investment Council (WPIC) projecting an 850,000 ounce shortfall as demand continues to outpace weak mine supply.

In its latest Platinum Quarterly, the WPIC states that despite a 22 percent year-on-year decline in demand, a lack of metal is expected to create a supply shortfall that’s only 13 percent lower than 2024’s 968,000 ounce shortfall.

Its call comes amid a price breakout for platinum, which pushed past US$1,450 per ounce in July.

Why is the platinum market in deficit?

The biggest challenge for platinum has been weak refined production, which slipped to 1.45 million ounces during the quarter from 1.54 million ounces produced during the same time last year.

This has led the WPIC to predict a 6 percent decrease in primary supply to 5.43 million ounces, down from the 5.76 million ounces produced in 2024. Output declines in top producer South Africa have had outsized effects on supply, as Q1 output came in at just 713,000 ounces, as heavy rainfalls negatively impacted production.

Although output grew to 1.05 million ounces in the second quarter, it was still 8 percent lower than in Q2 2024.

Additional decreases to output are also expected in Zimbabwe and North America, slipping 4 percent and 26 percent, respectively. However, Russia is set to see a 1 percent rise in output, increasing to 686,000 ounces from 677,000 in 2024.

On a more positive note, recycling supply saw an increase to 423,000 ounces during Q2 from 379,000 reported in 2024. This has led the WPIC to predict a 6 percent annual increase to 1.6 million ounces from 1.52 million last year.

The majority of this increase comes from growth in automotive recycling, aided by higher platinum group basket prices. However, the WPIC notes that despite the growth, recycling will remain depressed compared to historic levels.

The WPIC predicts an overall supply decrease of 3 percent in 2025 to 7.03 million ounces, from 7.28 million ounces in 2024. With three years of deficits, the group is also expecting further drawdowns of above-ground stocks with a 22 percent decrease to 2.98 million ounces, representing four and a half months of demand coverage.

In recent years, stockpiles have fallen from 5.51 million ounces in 2022 to 4.8 million ounces in 2023 and 3.83 million ounces in 2024.

“I don’t think we’re going to see any meaningful mine supply response at these levels. It’s also worth bearing in mind that these are, for the most part, deep-level underground mines. So even if we had another 50 percent increase in the basket price, you’re still not going to see a supply response over the near to medium term,” he said.

Watch Sterck discuss the platinum market.

He went on to explain that development times for mining operations will take several years and wouldn’t be possible on time frames shorter than 18 months.

“Recycling is definitely much more price elastic than mine supply over the near to medium term,” Sterck said.

However, he added that while people tend to scrap vehicles at a consistent rate, the pace and overall supply entering the market from the auto sector is constrained.

“Yes, we’ve seen quite a big increase in the platinum price year to date, but it’s not the main driver of the economics for those scrap aggregators and recyclers. It’s really more of a palladium story, even more so than rhodium. So, you need a sustained increase in palladium prices to drive a meaningful change there,” Sterck said.

Demand to weaken in 2025, jewelry a bright spot

Despite the expected deficit, the WPIC expects demand to weaken this year.

Q2 saw automotive demand fall to 769,000 ounces, down from 788,000 ounces in the year-ago period.

The WPIC’s expectation is that the auto sector will require 3.03 million ounces of platinum in 2025, a 3 percent decrease from the 3.11 million ounces needed in 2024. Likewise, the council is expecting a decrease in industrial demand for the metal as consumption drops off by 22 percent to 1.9 million, down from 2.42 million ounces last year.

Jewelry demand, however, has been on the rise, with the expectation that it will increase by 11 percent to 2.23 million ounces in 2025. The WPIC suggests the higher growth is owed to its discount relative to gold, and notes that it is seeing the most substantial increase in China — fabrication is seen growing 42 percent in 2025 to 585,000 ounces.

“What’s driving that increase has been fabrication funded by wholesalers, and they’re promoting platinum because they’ve seen a huge drop in their gold jewelry sales,” Sterck explained.

Despite an increase in holdings of bars, coins and exchange-traded funds, overall investment demand was dragged down in Q2 by a 317,000 ounce decrease in stocks held in exchanges due to tariff-related concerns.

Sterck said ongoing uncertainty in the platinum market earlier this year caused physical metal to shift from overseas markets into the US as traders began to worry about tariffs being applied.

Although movement reversed as traders were told tariffs wouldn’t be applied, fears were later stoked when copper tariffs were announced, and an “ideological disconnect” between the White House and South Africa emerged.

“Given that the current US administration has shown that it is willing to use tariffs as a kind of stick, if you like, for enacting foreign policy, you kind of come back to this sort of whole situation where there’s a non-zero chance of platinum being subject to tariffs in the US,” Sterck commented during the conversation.

Overall, the WPIC expects total platinum demand to drop by 4 percent year-on-year in 2025 to 7.88 million ounces.

Will the platinum price rise further in 2025?

Fundamentals should remain the primary driver for platinum. Despite weakening demand through the first half of 2025, a structural deficit in the market still exists due to a lack of supply to close the gap.

However, Sterck suggested the mining supply is likely to increase before the end of the year.

“This year was particularly accentuated by flooding in South Africa during the first quarter of the year, so we do expect a bit of an increase in mining supply,” he said. However, he also noted that until there are more significant changes to the amount of supply, the price conditions aren’t likely to change much.

“Fundamentally, at the moment, it just appears that the platinum price at current levels isn’t sufficient to attract enough metal into the market to really ease those market conditions,” Sterck noted.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Heritage Mining Plans Aggressive Program at Zone 3 Extension Mega-Quartz Vein System at its Flagship Drayton-Black Lake Project

Investing 8 Mins Read

/ NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Heritage Mining Ltd. (CSE: HML) (FRA: Y66 ) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce an exploration update on Zone 3 Extension Mega-Quartz Vein System at its Flagship Drayton-Black Lake Project (‘DBL’). Which has confirmed broad gold zone within a newly discovered ~74m wide quartz vein system (true width unknown) associated with a magnetic anomaly that extends for ~4km along strike length and is up to 200m in width (Figure 2) at its flagship Drayton Black Lake Project September 9, 2025 press release.

DBL Exploration Program Highlights:

  • Aggressive Soil/Till Orientation Survey (Figure 1) over Zone 3 Extension Area
  • Follow-up Soil/Till Survey – success based on Orientation Survey (Figure 1) expected Q4 2025
  • Outcrop/Vein stripping permit received above HML25-013 (Figure 2)
  • Initiate a structural Study of the Mega-Quartz Vein System (Figure 2)
  • Diamond Drilling Q4, 2025/Q1 2026 (Figure 3)

‘We are eager to further explore the newly discovered Zone 3 Extension Mega-Quartz Vein Structure systematically. Our team has developed a comprehensive approach to further exploring this area as well as broader exploration programs before winter. I would like to thank the exploration team for their strong efforts in the discovery of a such wide vein system.’ Commented Peter Schloo , President, CEO and Director of Heritage Mining Ltd.

Discussion of Exploration Program

Soil/Till Program

The purpose of the soil and till program is to Rapidly evaluation the newly identified Zone 3 Extension – Mega Quartz Vein Structure as well as a broader evaluation of Alcona , Zone 10, Zone 3, and New Millennium with a terrain-aware B-horizon program. Bias sampling toward stable, well-drained eluvial–illuvial positions where podzolic Bf/Bh horizons preserve pathfinder chemistry. Soil/till program will be solidified following an orientation survey of key areas. The outcome of this program is to identify Pathfinders for each target defined and identify near surface mineralization footprint across target areas.

Stripping and Structural Evaluation

The Company has received a stripping permit for the area above HML25-013 along the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Stripping this area with follow on sampling and structural evaluations are planned for the Company’s 2025 Exploration program at DBL. The result of this program is to further evaluate the structural discovery at surface to better prioritize further targeting methods.

Scout Diamond Drilling

Additional scout diamond drilling is planned for the 2025 exploration program at the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Following the completion of Soil/Till Program and Stripping and Structural Evaluation the Company intends to commence scout drilling with additional data. The Company may initiate the scout drilling program earlier depending on additional internal evaluation.

Conclusion

The discovery of a broad gold zone in the the newly identified Zone 3 Extension – Mega Quartz Vein Structure warrants additional systemic exploration to further develop our discovery model.

Qualified Person

Stephen Hughes P. Geo , Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

Technical Program

Heritage Mining adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses.  Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

Sampling, Sub-sampling, and Laboratory Analysis for Heritage Mining Drayton Black Lake Project All drilling at the Drayton Black Lake project recovers NQ core. Drill core is systematically split in half using a diamond saw. A qualified geologist examines the drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a minimum length of 0.5 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.

Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a witness sample, while the other half is submitted for analysis. Individual sample bags are securely sealed and placed into sealed bags, which are then clearly marked with their contents.

Heritage Mining submits samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ ALS ‘). ALS operates under a commercial contract with Heritage Mining.

Drill core samples are shipped to ALS for sample preparation at their facilities in Thunderbay Ontario. ALS is an ISO/IEC 17025:2017 accredited laboratory for the PhotonAssay method in addition to a variety of diverse metal determination methods.

Analytical Procedures

The ALS procedure for PhotonAssay involves lab applying preparation codes LOG-21 (sample logging via barcode), CRU-31 (fine crushing so that 70% passes through a 2mm screen) and SPL-32a (rotary splitting of a representative ~500g subsample)  followed by analytical code Au-PA01 which is a non-destructive gold analysis method using high-energy X-rays with a gold detection range from 0.03 ppm to 350ppm.

After gold assays are returned, Heritage then may choose to perform multi-element assays on selected samples based on the gold results. In these cases, sample preparation codes FND-05 (locate and use remaining crushed material from Au-PA01) and PUL-32m (pulverization so that >85% passes 75 µm screen) are then applied followed by analytical code ME-MS61 (multi-element ICP-MS analysis for base metals, pathfinder elements, lithophile elements and rare earth elements).

________________________________________
Quality Assurance/Quality Control (QA/QC)

The drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a rigorous QA/QC program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples, in addition to the laboratories’ internal quality assurance programs.

Quality Control data are meticulously evaluated upon receipt from the laboratories for any failures. Appropriate corrective action is taken if assay results for standards and blanks fall outside allowed tolerances. All results disclosed by Heritage Mining have successfully passed the Company’s stringent quality control protocols.

The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.

Heritage Mining notes that it has not completed any economic evaluations of its Drayton-Black Lake Project, and the project does not currently have any resources or reserves.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario . The Drayton – Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.

FORWARD-LOOKING STATEMENTS

This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada , the United States , or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

SOURCE Heritage Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2025/11/c1327.html

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Harvest Gold Announces Non-Brokered Private Placement Of Up To $500,000

Investing 5 Mins Read

(TheNewswire)

Vancouver, British Columbia / September 11, 2025 ‑ TheNewswire – Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (‘ Harvest Gold ‘ or the ‘ Company ‘) announces that, subject to the approval of the TSX Venture Exchange (the ‘ Exchange ‘), it has arranged a non-brokered private placement of up to 6,666,667 units of the Company (‘ Units ‘) at a price of $0.075 per Unit for aggregate gross proceeds of up to $500,000 (the ‘ Private Placement ‘).

Harvest Gold President and CEO, Rick Mark, states: ‘One of our investors in the recently completed Private Placement has asked if we would accept a larger investment with the same terms. The board of directors of the Company has approved the request as it will allow us to do prospecting, mapping and geo chemistry on areas in the southern part of Mosseau and on LaBelle with the goal of providing new drill targets this year. It also provides us flexibility should we wish to add meters to the current drill program at Mosseau.’

Each Unit will consist of one common share in the capital of the Company (each, a ‘ Share ‘) and one transferable common share purchase warrant (each, a ‘ Warrant ‘). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a ‘ Warrant Share ‘) at a price of $0.12 per Warrant Share for a period of two years following the closing date of the Private Placement.

The Company anticipates using the proceeds from the Private Placement for exploration expenses on its properties in the Urban Barry area of Quebec, Canada, and general working capital.

All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada and, where applicable.  Finders’ fees may be payable to qualified parties.

About Harvest Gold Corporation

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha , located approximately 45-70 km east of the Gold Fields Windfall Deposit.

Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories.  Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President and CEO
Harvest Gold Corporation

For more information please contact:

Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release includes certain statements that may be deemed ‘forward looking statements’. All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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Trump administration ramps up pressure on Labor Department with data probe

Business 3 Mins Read

The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices.

In a letter published Wednesday, the office of the inspector general for the Labor Department cited the BLS’ recent decision to reduce data collection activities for two key inflation reports, as well as the large downward revision in employment estimates it announced Tuesday. It said it is reviewing the ‘challenges’ the agency has faced ‘in collecting and reporting closely watched economic data.’

The probe comes one month after President Donald Trump fired the head of the BLS as part of a broader pressure campaign that critics say has risked politicizing a part of the government that has long played a crucial role in the business world. The BLS, which is tasked with collecting data on economic indicators such as jobs and inflation, had generally been left alone by previous administrations.

But Trump began zeroing in on the BLS as his frustrations with the Federal Reserve mounted, coinciding with economic numbers that started to warn about a broader U.S. slowdown.

Since then, the labor market has slowed considerably. Just before the head of the BLS was fired, the department released a weaker-than-expected jobs report, citing claims of data manipulation that critics say are unfounded.

Federal Reserve Chair Jerome Powell, another frequent target of Trump’s, has said Fed policymakers are ‘getting the data that we need to do our jobs’ and stressed the importance of the federal statistical agencies.

‘The government data is really the gold standard in data,’ he added. ‘We need it to be good and to be able to rely on it.’

Trump then nominated E.J. Antoni, an economist with the far-right Heritage Foundation, as the new head of the BLS, a move many economists have criticized.

Trump and other BLS critics have focused on the department’s revisions to its reports, a practice that dates back decades and has been generally seen as a necessary part of the challenge of collecting near-term economic data. It has also faced other challenges in data collection, including budget challenges and low response rates to its collection efforts.

The BLS previously said the decision to reduce inflation data surveys was necessary given existing budget constraints. Meanwhile, mainstream economists say the latest downward revisions — while large — are part of a routine annual process known as benchmarking.

While response rates to the bureau’s surveys have been declining, researchers recently found that revisions and falling response rates did not reduce the reliability of the jobs and inflation reports.

This post appeared first on NBC NEWS

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Questcorp Mining Provides Update on Its Maiden Drill Program at La Union

Investing 3 Mins Read

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to provide an update on the Phase I drilling program at its La Union Gold and Silver project in northwest Sonora, Mexico. Drill holes have now been completed at two of the 4 target areas:

  • The initial hole was completed beneath the historic Union Mine itself, intersecting the favourable carbonaceous Clemente and Caborca formations, including the microconglomeratic carbonate unit which hosted mineralization at the bottom of the past producing Union Mine.
  • Drilling then shifted focus to the El Cobre Mine area and the Union Norte Mine area, testing vertical feeder zones above the Clemente formation dolomites and carbonaceous sandstones. Hole two intersected more quartzites than interpreted from the geophysics, with the quartzites carrying more extensive hematitic oxides, possibly indicative of oxide gold mineralization potentially related to sulfides which have been oxidized through supergene weathering.

Saf Dhillon, President and Chief Executive Officer, states: ‘The drilling is indicating oxidation is consistent with past mining and targets are coming along with a positive exploration drilling so far. The drilling is intersecting more quartzite than expected which is favorable for fracture-controlled mineralization. The Riverside operations team is progressing the current exploration program working with the surface rancher and the drilling company to efficiently progress a high-quality exploration program.’

Drilling has now moved to the Famosa Target to progress exploration program. The Mexico Mining Ministry has approved many permits and are actively supporting the environmentally, socially conscious mineral exploration practices as a key aspect for the new Mexican government initiatives.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry’, P.Geo (BC) a Director of the Company and a Qualified Person under National Instrument 43-101.

About Questcorp Mining Inc.

Questcorp Mining 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-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

Questcorp Mining Inc.
saf@questcorpmining.ca
Tel. (604-484-3031)

Suite 550, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6.

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265741

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Kenvue stock drops 10% on report RFK Jr. will link autism to Tylenol use during pregnancy

Business 3 Mins Read

Shares of Kenvue fell more than 10% on Friday after a report that Health Secretary Robert F. Kennedy Jr. will likely link autism to the use of the company’s pain medication Tylenol in pregnant women.

HHS will release the report that could draw that link this month, The Wall Street Journal reported on Friday.

That report will also suggest a medicine derived from folate — a water-soluble vitamin — can be used to treat symptoms of the developmental disorder in some people, according to the Journal.

In a statement, an HHS spokesperson said, “We are using gold-standard science to get to the bottom of America’s unprecedented rise in autism rates.”

“Until we release the final report, any claims about its contents are nothing more than speculation,” they added.

Tylenol could be the latest widely used and accepted treatment that Kennedy has undermined at the helm of HHS, which oversees federal health agencies that regulate drugs and other therapies. Kennedy has also taken steps to change vaccine policy in the U.S., and has amplified false claims about safe and effective shots that use mRNA technology.

Kennedy has made the disorder a key focus of HHS, pledging in April that the agency will “know what has caused the autism epidemic” by September and eliminate exposures. He also said that month that the agency has launched a “massive testing and research effort” involving hundreds of scientists worldwide that will determine the cause.

In a statement, Kenvue said it has “continuously evaluated the science and [continues] to believe there is no causal link” between the use of acetaminophen, the generic name for Tylenol, during pregnancy and autism.

The company added that the Food and Drug Administration and leading medical organizations “agree on the safety” of the drug, its use during pregnancy and the information provided on the Tylenol label.

The FDA website says the agency has not found “clear evidence” that appropriate use of acetaminophen during pregnancy causes “adverse pregnancy, birth, neurobehavioral, or developmental outcomes.” But the FDA said it advises pregnant women to speak with their health-care providers before using over-the-counter drugs.

The American College of Obstetricians and Gynecologists maintains that acetaminophen is safe during pregnancy when taken as directed and after consulting a health-care provider.

Some previous studies have suggested the drug poses risks to fetal development, and some parents have brought lawsuits claiming that they gave birth to children with autism after using it.

But a federal judge in Manhattan ruled in 2023 that some of those lawsuits lacked scientific evidence and later ended the litigation in 2024. Some research has also found no association between acetaminophen use and autism.

In a note on Friday, BNP Paribas analyst Navann Ty said the firm believes the “hurdle to proving causation [between the drug and autism] is high, particularly given that the litigation previously concluded in Kenvue’s favor.”

This post appeared first on NBC NEWS

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Lode Gold Closes $1.51 Million Upsized Private Placement

Investing 8 Mins Read

Lode Gold Resources Inc. (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) (‘Lode Gold’ or the ‘Company’) is pleased to announce that it has now closed its previously announced non-brokered private placement offering for $1.0 million (the ‘Offering’). In three tranches, the Company raised total gross proceeds of $1,513,768 through the issuance of 8,409,825 units of the Company (‘Unit’) at a price of $0.18 per Unit, (see related Company news first tranche, second tranche, and final tranche).

Each Unit consists of one common share of the Company (‘Common Share’) and one common share purchase warrant (‘Warrant’). Each Warrant shall entitle the holder to purchase one Common Share at an exercise price of $0.35 per share for a period of 36 months following the date of closing. The Company may accelerate the Warrant expiry date if the Company’s shares trade at $0.65 or more for a period of 10 days, including days where no trading occurs.

In conjunction with the private placement finder’s fees of $16,039 will be paid in cash and 89,100 Finders’ Warrants will be issued. Each Finders’ Warrant shall entitle the holder to purchase one Common Share of the Company at an exercise price of $0.35 per share for a period of 36 months following the date of closing.

Insiders of the Company subscribed to 1,022,111 Units of the private placement.

All securities issued pursuant to this private placement, including common shares underlying the Warrants, are subject to a statutory hold period which expires 4 months from the date of closing.

The completion of the private placement remains subject to the final acceptance of the TSX Venture Exchange.

The proceeds raised from the Offering will go toward execution of the business plans for Lode Gold and its subsidiary, Gold Orogen (1475039 B.C. Ltd.).

Management Changes
Winfield Ding has resigned as the CFO with immediate effect. The Company has initiated a search for a new CFO and has identified several potential candidates for the position. Wayne Moorhouse has agreed to act as the Company’s Acting CFO. Wayne has a wealth of senior company management experience including holding the position of CFO for Roxgold Inc. (TSXV), Midnight Sun Mining Corp. (TSXV), Genco Resources Inc. (TMX), Bluestar Gold (TSXV), and other private and public companies.

Construction Loan Extension
The Company has entered into an amending agreement with Romspen Investment Corporation (the ‘Lender’) to extend the maturity date of a construction loan agreement. The new maturity date of the loan is October 31, 2025. In consideration for extending the maturity date of the loan, the Company will pay the Lender $200,000 of interest owing consisting of $100,000 to be paid in cash and $100,000 to be paid in shares subject to final approval of the TSX Venture Exchange.

Legal Update
As part of the 2024 Restructuring and Growth Plans, a senior secured debt holder, aligned with the Company’s new strategic direction, converted to become one of the largest shareholders, exceeding 19.9%. The former CEO resigned, citing change of control as the reason and proceeded to make a severance compensation claim. The Company disagreed that compensation is due as this debt holder is an existing key shareholder and a Director of the Board. A claim was filed and the court ruled in favor of the claimant for a payment of $222,469. The outcome will have no material impact on the Company’s 2025 financial results as this amount had been accrued in the Company’s accounting records in a prior period.

About Lode Gold

Lode Gold (TSXV: LOD,OTC:LODFF) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada Lode Gold holds assets in the Yukon and New Brunswick. Lode Gold’s Yukon assets are located on the southern portion of the prolific Tombstone Belt and cover approximately 99.5 km2 across a 27 km strike. Over 4,500 m have been drilled on the Yukon assets with confirmed gold endowment and economic drill intercepts over 50 m. There are four reduced-intrusive targets (RIRGS), in addition to sedimentary-hosted orogenic exploration gold.

In New Brunswick, Lode Gold, through its subsidiary 1475039 B.C. Ltd., has created one of the largest land packages in the province with its Acadian Gold Joint Venture, consisting of an area that spans 445 km2 with a 44 km strike. It has confirmed gold endowment with mineralized rhyolites.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. It has a recent 2025 NI 43-101 report and compliant MRE that can be accessed here https://lode-gold.com/project/freemont-gold-usa/

Fremont was previously mined until gold mining prohibition in WWII, when its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. This asset has exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of underground workings and 14 adits. The project has excellent infrastructure with close access to electricity, water, state highways, railhead and port.

The Company recently completed an internal scoping study evaluating the potential to resume operations at Fremont based on 100% underground mining. Previously, in March 2023, the Company completed a Preliminary Economic Assessment (‘PEA’) in accordance with NI 43-101 which evaluated a mix of open pit and underground mining. The PEA and other technical reports prepared on the Company’s properties are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com)

ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director

Information Contact:

Wendy T. Chan
CEO
info@lode-gold.com
+1-(604)-977-GOLD (4653)

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (604) -977-GOLD (4653)

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265413

News Provided by Newsfile via QuoteMedia

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