What should be the price of Ore rich in Osmium

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suf190

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Joined
Jul 7, 2021
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15
Hi Forum Friends,
I have a substantial amount of ore which is rich in PGM specially Osmium. Im struggling to set a price for the ore. I have been offered $40/troy Oz for the Ore. feel this is very low considering osmium is currently being traded at $43,000/Oz. Can someone help. Ive attached a few reports for reference. Appreciate any help.
 

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suf190 said:
Hi Forum Friends,
I have a substantial amount of ore which is rich in PGM specially Osmium. Im struggling to set a price for the ore. I have been offered $40/troy Oz for the Ore. feel this is very low considering osmium is currently being traded at $43,000/Oz. Can someone help. Ive attached a few reports for reference. Appreciate any help.
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Have a proper NiS assay made.
XRF is not reliable for ores, especially in precious metal mode.
Osmium will depreciate the value of any ore due to processing difficulties and toxicity.
 
Yggdrasil said:
Have a proper NiS assay made.
XRF is not reliable for ores, especially in precious metal mode.
Osmium will depreciate the value of any ore due to processing difficulties and toxicity.
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@Yggdrasil ... the buyer is only interested in extracting the osmium. They know that the other pgms will get wasted.
 
suf190 said:
I have a substantial amount of ore which is rich in PGM specially Osmium.
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What Yaggdrasil said - you CAN NOT trust a read out for PGMs using an XRF for testing ores - especially if the XRF is set/programed in "precious metal" mode --- that method of testing ores is VERY UNRELIABLE

At the very least - the XRF needs to be set/programed for GEO Chemical testing & even then the XRF is only "somewhat" reliable

This has been discussed MANY times here on the forum

If you suspect that your ore has PGMs you MUST have a real assay done on the ore & that assay NEEDS to be done specifically for PGMs as PGM assays are done different then gold/silver assays

Also - what Lou said - Lou makes a living refining PGMS on a LARGE scale - so he knows what he is talking about

Kurt
 
Lou said:
Wow someone offered you $40/troy oz for it??

Take it and run!!

Your pricing metric of $43,000 is the first I’ve heard. Osmium trades 350-390/tr oz. When it trades.
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@Lou .. The buyer has done a real assay and it came out to 27.3% Os. Hence he has offered the price based on his test. Hence my question was just to ascertain if the price was fare or i was being under offered. Attached is a sample report that ive had done myself. Its tested using ICP-OES
 

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suf190 said:
@cejohnsonsr1 - Not Much, just a mine in Pakistan which is quite rich in PGM.
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You didn’t answer the question. A lot of mines don’t produce enough to be worth working. Being in Pakistan isn’t what most people would consider a good selling point either. If you had significant quantities of any PM bearing ore you could get any industrial refinery to process it for you. This would be the last place to go to find out what your ore is worth.
 
cejohnsonsr1 said:
You didn’t answer the question. A lot of mines don’t produce enough to be worth working. Being in Pakistan isn’t what most people would consider a good selling point either. If you had significant quantities of any PM bearing ore you could get any industrial refinery to process it for you. This would be the last place to go to find out what your ore is worth.
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Read his last post!
 
suf190 said:
Hi Forum Friends,
I have a substantial amount of ore which is rich in PGM specially Osmium. Im struggling to set a price for the ore. I have been offered $40/troy Oz for the Ore. feel this is very low considering osmium is currently being traded at $43,000/Oz. Can someone help. Ive attached a few reports for reference. Appreciate any help.
Click to expand...
You should grind the osmium ore down to a zero-micron size, while also taking extra safety precautions due to the toxic and volatile nature of the product. For the process, you should boil it in phosphoric acid at 100 degrees Celsius and use zinc for precipitation. I believe you only need some recommendations. Good luck.
 
suf190 said:
Hi Forum Friends,
I have a substantial amount of ore which is rich in PGM specially Osmium. Im struggling to set a price for the ore. I have been offered $40/troy Oz for the Ore. feel this is very low considering osmium is currently being traded at $43,000/Oz. Can someone help. Ive attached a few reports for reference. Appreciate any help.
Click to expand...
I'm sending greetings from Izmir, Turkey. In our country, we have certain criteria. For instance, when it comes to precious group metals (PGM), only rhodium, platinum, and palladium are freely traded on the domestic market with established purchase values. Other PGMs such as ruthenium, iridium, and osmium are considered restricted for domestic trade. Now, regarding imports, Turkey currently has customs regulations that restrict the import and export of PGMs with purity levels of 80% and above. This is not limited to PGMs alone; even for gold imports, only around twenty companies and firms authorized by the Ministry of Trade can engage in the trade, and that too, with special permits. In other words, having $10 million in your pocket won't guarantee you the ability to import, because PGM metals are considered strategic assets and not everyone can trade them freely. Bureaucratic procedures sometimes grant permissions, and at other times, impose restrictions. I don't have much information about the laws and processes followed by other countries concerning PGMs, but geographically, the Russians are actively involved in the PGM market, designing PGMs for various purposes like jewelry and offering them for sale on the web using Russian search engines. I hope this information is helpful, and wish you the best regards."
 

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