When electron spins are injected uniformly into a paramagnetic disc, they can
precess along the demagnetizing field induced by the resulting magnetic moment.
Normally this precession damps out by virtue of the spin relaxation which is
present in paramagnetic materials. We propose a new mechanism to excite a
steady-state form of this dynamics by injecting a constant spin current into
this paramagnetic disc. We show that the rotating magnetic field generated by
the eddy currents provide a torque which makes this possible. Unlike the
ferromagnetic equivalent, the spin-torque-oscillator, the oscillation frequency
is fixed and determined by the dimensions and intrinsic parameters of the
paramagnet. The system possesses an intrinsic threshold for spin injection
which needs to be overcome before steady-state precession is possible. The
additional application of a magnetic field lowers this threshold. We discuss
the feasibility of this effect in modern materials. Transient analysis using
pump-probe techniques should give insight in the physical processes which
accompany this effect