Hello,
From your descriptions, I would say that you are quite right in thinking that the lump is a bone spur.
Bone spurs occur when there is constant friction over a particular part of a bone or when there is any problem like arthritis or fracture. It usually occurs along the joint edges in arthritis.
Although usually bone spurs cause no difficulties, sometimes there may be pinching of the tissues or a nerve while moving the bone. This may cause pain or even inflammation.
What I am concerned about is that you say that the lump is growing in size. Bone spurs do grow, but their growth rate is very slow and hardly noticeable. I do not suspect this is a tumour, and am almost convinced that it is a bone spur, but all the same, the fact that you say it is increasing in size ('sticking out further with time') is worrying to some extent.
I believe that you need to be checked up by an orthopaedist to rule out a tumour, to confirm that it is indeed a bone spur and to see what underlying causes are contributing to the growth of the spur.
I hope this helps.
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Experienced in the management of Pregnancy,Infertility,Menopause and all problems in Pregnancy and Gynecology