RE: Reports28 Jun 2025 18:55
This is what I have managed to calculate, sitting out in the sunshine, I need to double check and dig into them a little further but this is the gist of it. Any (SENSIBLE) discussion/opinion on this would be great, its certainly one piece of a very exciting time regarding EUA and our investments.
Eurasia hasn’t published explicit osmium reserves, but they reported ~2% osmium content in PGM concentrate at West Kytlim. We can extrapolate cautiously from that.
Known figures:
Eurasia's West Kytlim mine has historically produced ~200–300 kg of PGM concentrate per season.
The company has reported multiple millions of ounces of PGM resources across its assets (mainly platinum, palladium, rhodium).
If osmium is present at ~2% of PGMs across a meaningful portion of the West Kytlim or Monchetundra resource base, the potential osmium in the ground could be significant.
Let’s estimate osmium as 2% of 10 million oz PGM Eq. (rounded resource for all assets):
1 oz = 31.1035 g, so 10 million oz = 311,035,000 grams
2% of that = 6.22 million grams = 6,220 kg = 6.22 tonnes of osmium
Osmium isn’t traded on open exchanges like gold or platinum, but...
Retail crystal osmium (osmium tetroxide is toxic, so it's sold as inert metal) = ~$1,500–$2,000 per gram
Bulk raw osmium for industrial use is much lower, likely $400–$700 per gram, depending on purity and market
Using a conservative bulk value of $500/gram:
6.22 million grams × $500 = $3.11 billion USD
A common discount factor is 10%–15% of gross value to reflect feasibility, costs, recovery, and risk.
10% of $3.11B = $311 million USD
15% of $3.11B = $466 million USD