• Overview
• Market Value Appraisal
• Expert Witness
• Supporting Services

Market Value Appraisal

Ellis International Services (EIS) has been a world leader for much two decades in providing rigorous market value appraisals (including reports of market-based fair value) of mineral properties, from exploration tracts to operating mines and quarries. Such appraisals comprise the large majority of our work. Our market valuation reports are developed to relevant international or US standards for mineral resource classification, minerals valuation, and professional appraisal practice. Most of the currently relevant valuation standards are listed below.

Mr. Ellis leads the development of every mineral property valuation, unless a special arrangement is made with our client. Methodologies he has refined over many years on difficult valuation assignments are widely recognized as providing the most accurate estimates of market value in the minerals industry.

Our Clients

Our services are best suited to situations warranting a rigorous estimate of market value or market-based fair value, derived from comprehensive, in-depth research and analysis, and for which a few months of lead time is available. Existing commitments may prevent us beginning significant work on an assignment for two months or more, after which a difficult appraisal could take us a number of months to complete. Therefore, it is wise to contact Mr. Ellis and discuss your needs early.

The minimum cost for a market value appraisal for which Trevor Ellis takes responsibility as the minerals appraiser/valuer is US$25,000, with most costing in the range of $45,000 to $90,000. Due to the substantial time and cost involved, our market valuation reports are generally best suited for:

• Settlement of disputes, including litigation and arbitration use
• Financial reporting to stock exchange regulators
• Valuation of government takings
• Quantum estimation for damage claims
• Charitable donation valuation for taxation filings

EIS has no typical client for which it conducts market value appraisals. Clients have included:

• U.S. County, State, and Federal government agencies
• Small and large law firms
• Small, mid-size, and major mining and energy companies
• Native corporations
• Individual persons and families (e.g. mineral royalty holders)
• Land development and timber companies
• Consulting companies
• Lenders and borrowers

A comprehensive client list is available here.

What Our Clients Get

The level and type of research and analysis conducted for market value appraisals varies by type of mineral deposit and interest held, stage of exploration, development, or operation, the intended use of the valuation, and the sophistication of the intended user. A valuation report developed for use by a quarry owner-operator could consist of as little as 20 pages, written in a somewhat cryptic style, and contain few illustrations and supplemental documents. Whereas, a valuation report on an undeveloped mineral reserve in a complex geographical setting, prepared for a regulatory or potential litigation purpose, will be very comprehensive and written in a narrative style, with extensive illustrations and supplemental document attachments, resulting in a report of 100 to 400 pages. As few as one or as many as five valuation methods may be applied. The existing mineral resource and product market information might be taken as is without additional research, dependent on its validity and relevance, or re-assessed by us.

A comprehensive, narrative, market value appraisal report by Trevor Ellis, for an undeveloped gold property, is available for review by clicking here.

Key Benefits

EIS provides a premium valuation service for mineral properties (including operating mines and quarries), conducted by Trevor Ellis, the world’s most recognized mineral property appraiser/valuer. If you or another potential client has need for a credible, unbiased, thoroughly researched, clearly written, mineral property valuation report, that abides by appropriate standards and best practice, consider contracting EIS to provide it.

Mr. Ellis has been the global leader for development of international standards and best practice for valuations in the minerals and petroleum industries for most of the last two decades, and the leading author and speaker in the field. He has refined the most important valuation methodologies for mineral property appraisal through applying his extensive education, research, and experience to their application.

EIS can provide a premium quality, rigorous valuation report developed by one of the world’s best known and appropriately qualified, mining industry professionals.

Valuation Standards Applied

EIS develops valuation reports in compliance with either, or a combination of the following standards:

The International Valuation Standards (IVSs) of the International Valuation Standards Council (IVSC), London;
The USA’s Uniform Standards of Professional Appraisal Practice (USPAP) of The Appraisal Foundation;
The USA’s Uniform Appraisal Standards for Federal Land Acquisitions (UAS), (3.0 MB pdf file) of the Interagency Land Acquisition Conference (also called The Yellow Book);
The SME Valuation Standards (pdf file) of the Society for Mining, Metallurgy, and Exploration (SME);
The Canadian CIMVal Standards and Guidelines (pdf file) of The Canadian Institute of Mining, Metallurgy and Petroleum (CIM);
The Australian VALMIN Code of The Australasian Institute of Mining and Metallurgy (AusIMM) and Australian Institute of Geoscientists.

EIS also follows the Code of Ethics and Best Practice Guidelines of the International Institute of Minerals Appraisers (IIMA), (previously known as the American Institute of Minerals Appraisers (AIMA)).