You would have to get the nugget pretty hot for a long time with a propane torch to melt it even if it was silver. You would also need an oxidizing flame.
Silver melts about 1750 degrees, but could be higher if it has impurities in it. "Red Hot" is about 1250 degrees, so you would only be 75% to the melting point….but I was not there either, and some of that is subjective.
The black is misleading because it could be tarnish from silver getting near its melting point, or it could be from the hydrocarbons burning off the propane gas.
The magnetic aspect you speak of has no real bearing. My magnetic thermometer on my woodstove falls off when it reaches 800 degrees. That is typical. But it cannot be melanite because that is strongly magnetic before heating, and while ilmenite has a weak magnetic attraction like you describe, it is black in color like melanite.
It could be a PGM, and if it is, it is a real nice one!