By Digifin Pty Ltd · About this coverage
Key Points
- Scoping Study Capex US$299m (incl. 25% contingency); NPV8 US$2.31bn post tax
- Unlevered post-tax IRR 145%; averaged EBITDA US$531m a year; FCF payback 6 months
- Module 1 2Mtpa throughput; initial 9-year mine life; 76% beneficial interest
- Production Target 10% Measured, 61% Indicated, 29% Inferred Main Seam only
- About US$300m pre-production funding likely required; no Ore Reserves yet
About Osmond Resources (ASX:OSM)
Osmond Resources Limited is an ASX-listed critical minerals company with a registered office in Melbourne and a head office in Madrid. Its flagship focus is the Orion EU Critical Minerals Project in Andalucia, Spain, targeting titanium, zirconium, hafnium and rare earth minerals.
Osmond Resources (ASX:OSM) released a Scoping Study for its Orion EU Critical Minerals Project in Jaen Province, Andalucia, Spain, presenting a preliminary case for what it describes as the EU's first rare earths, zircon and titanium mine, with study-level accuracy typically plus or minus 35%.
Highlights include low Capex of US$299m inclusive of 25% contingency, unlevered post-tax NPV8 of US$2.31bn, unlevered post-tax IRR of 145%, averaged EBITDA per annum of US$531m and free cash flow payback of 6 months. Life-of-mine C1 cash cost, net of by-product credits, is stated as -US$12.67 per tonne of ROM. Module 1 plant throughput is 2Mtpa over an initial 9-year mine life, with the Production Target based on 10% Measured, 61% Indicated and 29% Inferred Mineral Resources from the Main Seam only at an 80% mining extraction ratio. Annual monazite concentrate production is forecast to contain 2,160tpa NdPr oxide, 94tpa Dy2O3 and 24tpa Tb4O7. Completing the study moves Osmond to 80% ownership of a company owning 95% of the Project, for a 76% beneficial interest. Pre-production funding in the order of US$300m is estimated as likely required.
The Study does not support Ore Reserves; Inferred material has low geological confidence and outcomes are not assured. Funding availability and terms remain uncertain.
Source: Osmond Resources Limited (ASX:OSM), 2 October 2026. Summary content supplied by Digifin Pty Ltd.
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