Publications and Professional Papers

of Trevor R. Ellis

Society abbreviation definitions are listed at bottom of page.
Links to slide presentations and entire papers are to Adobe Acrobat pdf files. Some pdf files, particularly of slide presentations, may not display correctly in a third party pdf viewer.
To request a copy of a listed paper not available below, e-mail your request to Ellis International Services, Inc.
e-mail: ellis@minevaluation.com


2016

"Mentoring Minerals Appraisers – Techniques for Success," presented at the SME-IIMA Annual Conference, Phoenix, Arizona, 21-24 February 2016.
View Abstract View Slide Presentation 115kB pdf file

"Comparable Mineral Properties – Do They Exist for Market Value Appraisals?" in Mining Engineering Vol. 68, No. 5, May 2016, pages 67-72, a peer reviewed technical paper.
View Abstract Entire paper available at OneMine.org.

2015

"Comparable Mineral Properties – A Widening of Meaning for Appraisals," presented at the SME-CMA-IIMA 2015 Annual Conference, Denver, Colorado, 15-18 February 2015.
View Abstract View Slide Presentation 921kB pdf file

2014

"Appraisal of Mineral Property Conservation Easement Donations," presented at the SME-AIMA 2015 Annual Conference, Salt Lake City, Utah, 23-26 February 2014.
View Abstract View Slide Presentation 231kB pdf file

"Structural Geology and Plate Tectonics," as three lecture segments for the online, “All About Mining,” a continuing education course developed for K-12 educators, video recorded, 17 July 2014, available at http://www.allaboutmining.org/

2013

"'If this deposit is worth that much, why hasn’t it already been mined out?' and Other Lessons for Minerals Appraisers," presented at the SME-AIMA 2013 Annual Conference, Denver, Colorado, 24-27 February 2013.
View Abstract View Slide Presentation 873kB pdf file

"The Tortuous History of National and Global Mineral Valuation Standards Development – Why Has SME Become Involved Now?" presented at the SME-AIMA 2013 Annual Conference, Denver, Colorado, 24-27 February 2013.
View Abstract View Slide Presentation 693kB pdf file

"Discount Rate Selection Methods Applied in Appraisals of a Quarry Taken by Eminent Domain," with Collins, D. L., presented at the SME-AIMA 2013 Annual Conference, Denver, Colorado, 24-27 February 2013.
View Abstract View Slide Presentation 860kB pdf file

"Plate Tectonics and Structural Geology," with Forney, G. G., and Bryan, R. C., at the Colorado School of Mines' summer course for K-12 teachers, "A Total Concept of the Mining Industry," Golden, Colorado, presented annually 1995-2013.

2012

"SME Participates in International Project for Mineral Valuation Standards," Mining Engineering, November 2012, Vol 64, No. 11, pages 42-44. Re-published in Newsletter, AIMA, Vol. 17, No. 1, January 2013, pages 5-7.
View AIMA Article

"Discount Rate Extraction from Transaction Analysis for Income Approach Valuation of Mineral Properties," presented at the SME-AIMA 2012 Annual Conference, Seattle, Washington, 19-22 February 2012.
View Abstract View Slide Presentation 1.5MB pdf file

2011

"A Review of the Many Cost Approach Methods for Minerals Valuation," presented at the SME-CMA-AIMA 2011 Annual Conference, Denver, Colorado, 28 February - 2 March 2011, SME Paper TP-11-156, 6 pages. Published in SME Transactions, 2011, Vol. 330, pages 557-562, a peer reviewed technical paper.
View Abstract View Slide Presentation 834kB pdf file. Entire paper available at OneMine.org.

"Sales Comparison Valuation of Development and Operating Stage Mineral Properties," presented at the SME-CMA-AIMA 2011 Annual Conference, Denver, Colorado, 28 February - 2 March 2011, SME Paper TP-11-151, 14 pages. First presented at the Chilean Commission for Mining Industry Competencies’ Seminar on Valuation of Mineral Properties, Santiago, Chile, 25 October 2010. Published in Mining Engineering, Vol. 63, No. 4, April 2011, pages 89-104, a peer reviewed technical paper.
View Abstract View Slide Presentation 2.3MB pdf file. Entire paper available at OneMine.org.

2010

"Sales Comparison Valuation of Development and Operating Stage Minerals Properties," presented at the Chilean Commission for Mining Industry Competencies' Seminar on Valuation of Mineral Properties, Santiago, Chile, 25 October 2010.
View Abstract View Slide Presentation 941kB pdf file

"Creation of the International Valuation Standards Council," Newsletter, AIMA, Vol. 14, No. 2, May 2010, pages 4-5.
View AIMA Article

"A Review of the International Accounting Standards Board's Extractive Activities Draft Discussion Paper," presented at the SME 2010 Annual Conference, Phoenix, Arizona, 28 February - 3 March 2010.
View Abstract View Slide Presentation 1.1MB pdf file

2009

"Current Status and Direction of International Standards in the USA and Globally," presented at the SME-CMA 2009 Annual Conference, Denver, Colorado, 23-25 February 2009.
View Abstract View Slide Presentation 535kB pdf file

2008

"Market Valuation of a Major Gold-Copper Property in Venezuela using the International Valuation Standards and Worldwide Value Indicators," special speaker presentation at the AGH - University of Science and Technology, Cracow, Poland, 3 March 2008.
View Abstract View Slide Presentation 3.9MB pdf file

"Development of the International Valuation Standards Committee's Best Practice Guidelines for Valuations in the Extractive Industries," presented at the International Mining Forum 2008, Szczyrk, Poland, 25-29 February 2008. Published in International Mining Forum 2008: Economic Evaluation and Risk Analysis of Mining Projects, Taylor & Francis, pages 15-18, a peer reviewed technical paper.
View Abstract View Slide Presentation 216kB pdf file

"International Trends in Standards and Regulations for Valuation of Mining Industry Properties and Projects," presented at the International Mining Forum 2008, Szczyrk, Poland, 25-29 February 2008. Published in International Mining Forum 2008: Economic Evaluation and Risk Analysis of Mining Projects, Taylor & Francis, pages 1-7, a peer reviewed technical paper.
View Abstract View Slide Presentation 593kB pdf file

2007

"International Trends in Valuation of Mineral Projects – Standards and Regulations," presented at the China Mining 2007 Conference, Beijing, China, 13-15 November 2007. Presentation slides published in China Mining 2007 Conference Proceedings, pages 134-139.
View Abstract View Slide Presentation 604kB pdf file

"Cost Approach for Mineral Property Valuation," presented at the SME-CMA 2007 Annual Conference, Denver, Colorado, 25-28 February 2007.
View Abstract View Slide Presentation 587kB pdf file

2006

"Global Standards Development and Convergence Projects," presented at the Third Meeting of the Ad Hoc Group of Experts on Harmonisation of Fossil Energy and Mineral Resources Terminology, United Nations Economic Commission for Europe, Geneva, Switzerland, 11-13 October 2006.
View Slide Presentation 41kB pdf file

"Current Standards Development Activities," Newsletter, AIMA, Vol. 10, No. 3, October 2006, pages 3-4.
View AIMA Article

"Appraisal of Market Value, Las Brisas Gold Mining Concessions, Bolivar State, Venezuela," Effective Date: 10 February 2006, Report Date: 17 April 2006, 215 pages.

Client, Strongbow Capital Ltd, has generously agreed to allow the AIMA (IIMA) and Ellis International Services to place this report in the public domain for educational purposes. Particular features of this report include:

  • The valuation process and valuation reporting were developed to abide by the International Valuation Standards and the USA's USPAP;
  • Analysis of transactions in many countries;
  • The Transaction (Sales) Analysis section includes extraction of market discount rate (IRR) information;
  • The Sales Comparison Adjustment Grid includes adjustments for operating cost and country risk, among its many adjustments;
  • Use of probability scenarios with the NPV/DCF method;
  • Use of the Stock Market Entity Value Extraction method. (The method is tentatively classified as a Cost Approach Method in this report. In 2007, the IVSC's Extractive Industries Expert Group proposed that this method be classified as a Sales Comparison Approach method when used for valuation of the real property component of minerals and petroleum assets. That is the classification applied in the IIMA's Best Practice Guidelines.
  • Reconciliation of estimates derived by a number of methods.
  • View Entire Report 9.5MB pdf file

"Major Advance in Global Classification Standards for Minerals and Petroleum," Mining Engineering, Vol. 58, No. 4, April 2006, pages 27-28. Earlier version published as, "Major Advances in Global Classification Standards for Minerals and Petroleum," Newsletter, AIMA, January 2006, pages 5-6.
View AIMA Article

2005

"Resource Codification, Valuation Standards, and Sustainable Development," presented at the Second Meeting of the Ad Hoc Group of Experts on Harmonisation of Energy Reserves and Resources Terminology, United Nations Economic Commission for Europe, Geneva, Switzerland, 9-11 November 2005. Also presented to the Denver Mining Club, Denver, Colorado, 28 November 2005.
View Slide Presentation 280kB pdf file

"The International Valuation and Financial Reporting Standards – Their Content and Effect on Us," presented at the Geological Society of Nevada Symposium, Reno, Nevada, 15-18 May 2005. Published in Symposium 2005: Window to the World, Geological Society of Nevada, Reno, Nevada, 2005, pages 1297-1302, a peer reviewed technical paper.
View Abstract View Slide Presentation 776kB pdf file

"Valuation of a Coal Property – Applying Standards to Determine Market Value Versus Investment Value," presented at the Denver Coal Club monthly meeting, Denver, Colorado, 14 April 2005.
View Slide Presentation 1.2MB pdf file

"New International Financial Reporting Standard Allows Market Value Reporting for Minerals and Petroleum Assets," Newsletter, AIMA, Vol. 8, No. 3, December 2004, page 5. Also in: Mining Engineering, Vol. 57, No. 4, April 2005, pages 6-7.
View AIMA Article

"Implementation of the International Valuation Standards," presented at the SME 2005 Annual Conference, Salt Lake City, Utah, 28 February - 2 March 2005, SME Paper #05-093, 4 pages. Published in Mining Engineering, Vol. 58, No. 2, February 2006, pages 62-64, a peer reviewed technical paper.
View Abstract View Slide Presentation 1MB pdf file. Entire paper available at OneMine.org.

"Violations of Market Value Standards with the Income Approach," presented at the SME 2005 Annual Conference, Salt Lake City, Utah, 28 February - 2 March 2005.
View Abstract View Slide Presentation 124kB pdf file

"New Dawn for Minerals Appraisers?" presented at the SME 2005 Annual Conference, Salt Lake City, Utah, 28 February - 2 March 2005.
View Abstract View Slide Presentation 90kB pdf file

2004

"United Nations' Meeting on Classification of Energy Reserves and Resources, November 2004, Geneva, Switzerland," Newsletter, AIMA, Vol. 8, No. 3, December 2004, pages 3-4.
View AIMA Article

"Securing Investments through Appropriate Financial Reporting – Application of IVSC and IASB Standards," presented at the First Session of the Ad Hoc Group of Experts on Classification of Energy Reserves and Resources (renamed Ad Hoc Group of Experts on Harmonisation of Fossil Energy and Mineral Resources Terminology), United Nations Economic Commission for Europe, held at the United Nations' offices, Geneva, Switzerland, 10-11 November 2004.
View Slide Presentation 277kB pdf file

"International Perspective on U.S. Minerals Appraisal Standards Development," presented at the SME 2003 Annual Conference, Cincinnati, Ohio, 24-26 February 2003, SME Paper #03-109, 5 pages. Revised in Mining Engineering, Vol. 56, No. 3, March 2004, pages 44-48, a peer reviewed technical paper.
View Abstract View Entire Paper View Slide Presentation 234kB pdf file

"History and Future of Minerals and Petroleum Valuation Standards Development Internationally," presented at the SME 2004 Annual Conference, Denver, Colorado, 23-25 February 2004.
View Abstract View Slide Presentation 1.4MB pdf file

"Philosophy and Application of the International Valuation Standards for Minerals and Petroleum," The Professional Geologist, AIPG, Vol. 41, No. 1, January-February 2004, pages 14-19. Presented at SME 2004 Annual Conference, Denver, Colorado, 23-25 February 2004, SME Paper #04-133.
View Abstract View Entire Paper View Slide Presentation 304kB pdf file

2003

"The Extractive Industries Addition to the International Valuation Standards," presented at The Centre for Advanced Property Economics' Minerals Appraisal Symposium, Denver, Colorado, 1-3 October 2003.
View Abstract View Slide Presentation 1.1MB pdf file

"Reporting Standards – The USA Experience: Achieving True Globalisation – Problems and Solutions," presented at the Council of Mining and Metallurgical Institutions' Congress 2002, Cairns, Australia, 27-28 May 2002, and to the International Mining Professionals Society's Annual Conference, Denver, Colorado, 21 May 2002. Published in CMMI Congress 2002 - International Codes, Technology and Sustainability for the Minerals Industry, AusIMM, Melbourne, Australia, PS No 3/2002, pages 67-77, a peer reviewed technical paper. Updated versions in the international journal, Minerals & Energy - Raw Material Report, Vol. 17, No. 3, 2002, pages 15-31, and CIM Bulletin, Vol 96, No. 1067, January 2003, pages 37-48.
View Abstract View Entire Paper View Slide Presentation 247kB pdf file

2002

"Mineral Property Valuation Standards – A US Perspective: Marching with the International Valuation and International Financial Reporting Standards," presented at the South African Institute of Mining and Metallurgy's Valuation Code Colloquium, Johannesburg, South Africa, 19-20 March 2002; Valuation of Mineral Projects and Properties: an African Perspective, SAIMM, Johannesburg, 2002, 17 pages. Also in The Professional Geologist, AIPG, Vol. 39, No. 5, May 2002, pages 5-13.
View Abstract View Entire Paper View Slide Presentation 1.8MB pdf file

"International Valuation Standards & International Financial Reporting Standards – An Update," presented to the International Mining Professionals Society, Toronto Chapter Annual Conference, Toronto, Canada, 17 April 2002.
View Slide Presentation 224kB pdf file

"The U.S. Mineral Property Valuation Patchwork of Regulations and Standards," Mineral Property Valuation Proceedings – Papers presented at Mining Millennium 2000, CIM, Toronto, Canada, 8 March 2000, pages 25-40. Updated version published in CIM Bulletin, Vol. 95, No. 1059, March 2002, pages 110-118, a peer reviewed technical paper.
View Abstract View Entire Paper (2000 version) View Slide Presentation 864kB pdf file. The 2002 paper is available at OneMine.org.

"Recent Developments in International Valuation Standards," presented at the SME 2002 Annual Conference, Phoenix, Arizona, 25-27 February 2002, SME Paper #02-168, 5 pages. Revised in SME Transactions 2002, Vol. 312, pages 148-152, a peer reviewed technical paper.
View Abstract View Entire Paper

"U.S. and International Valuation Standards – The Future," presented at the SME 2001 Annual Conference, Denver, Colorado, 26-28 February 2001, SME Preprint #01-161, 10 pages. Revised as, "United States and International Valuation Standards - The Future," SME Transactions, 2002, Vol. 312, pages 141-147, a peer reviewed technical paper.
View Abstract View Entire Paper View Slide Presentation 987kB pdf file

2001

"US Views on Valuation Methodology," presented at the VALMIN 2001 Conference, Sydney, Australia, 25-26 October 2001; VALMIN '01 – Mineral Asset Valuation Issues for the Next Millennium 2001, AusIMM, Carlton, Victoria 2001, Australia, PS No 5/01, pages 1-23, a peer reviewed technical paper. Also in The Professional Geologist, AIPG, June-August 2002, as a 3-part series.
View Abstract View Entire Paper View Slide Presentation 1.8MB pdf file

"International Standards for Valuation of Mineral Deposits and Mines," presented at The Americas Mexican Mining Summit, Denver, Colorado, 14-15 June 2001.
View Slide Presentation 290kB pdf file

"The Difference Between a Value Estimate and an Appraisal," presented at SME Annual Conference, Salt Lake City, Utah, 28 February - 1 March 2000, SME Preprint #00-119, 15 pages. Also presented at the Denver Mining Club, Denver, Colorado, 3 August 2000. Revised version published as, "Difference between a value estimate and an appraisal," SME Transactions, 2001, Vol. 310, pages 25-35, a peer reviewed technical paper.
View Abstract View Entire Paper View Slide Presentation 675kB pdf file

"Funding Dangers Posed by Extractive Industries International Accounting Standard," Denver, Colorado, March 2001, 8 pages.
View Abstract View Entire Paper

2000

"International Challenges will Confront State Licensure," The Professional Geologist, AIPG, Vol. 37, No. 11, December 2000, pages 10-13.
View Abstract View Entire Paper

"Continuing Education Through Other Societies – Part III," Newsletter, AIMA, Vol. 5, No. 1, July 2000, pages 2-3.
View AIMA Article

"Regulatory Trends in Mineral Property Valuation – an International Perspective," with Abbott, D. M., Jr., Valuation 2000 – Papers and Proceedings, sponsored by ASA, AI, and ASFMRA, July 2000, pages 27-41, a peer reviewed technical paper, for which Mr. Ellis received the award for 3rd best professional paper at the Valuation 2000 convention.
View Abstract View Entire Paper View Slide Presentation 12MB pdf file

"Appraisals of a Gold Property – A Case Study of Reserve Additions," 2000 Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, Denver, Colorado, pages 44-53, a peer reviewed technical paper.
View Abstract View Entire Paper

"Lessons Learned about Standards from Applying both VALMIN and USPAP on a Complex Appraisal Project," presented at the SME Annual Conference, Salt Lake City, Utah, 28 February - 1 March 2000, SME Preprint #00-129, 9 pages. Revised and updated, published under same title in SME Transactions, 2000, Vol. 308, pages 116-122, a peer reviewed technical paper.
View Abstract View Entire Paper View Slide Presentation 565kB pdf file

"Ethical Dilemmas Posed During a Mineral Project Appraisal," The Professional Geologist, AIPG, Vol. 37, No. 2, February 2000, Westminster, Colorado, pages 7-11, a peer reviewed technical paper. Presented as the Don Yardley Lecture, Mackay School of Mines, Department of Geological Sciences, University of Nevada, Reno, Nevada, 16 February 2001. Similar presentations to the AIPG Student Chapter, Colorado School of Mines, Golden, Colorado, 24 March 2000, and the Denver Mining Club, Denver, Colorado, 1 June 2000.
View Abstract View Entire Paper View Slide Presentation 78kB pdf file

1999

"Recent Australian and Canadian Developments Affecting Mineral Valuation," Newsletter, AIMA, Vol. 4, No. 3, November 1999, pages 1, 6-7.
View AIMA Article

"Continuing Education Through Other Societies – Part II," Newsletter, AIMA, Vol. 4, No. 3, November 1999, pages 4-5.
View AIMA Article

"Ethical Issues Confronted During an Appraisal Project Turning Sour," presented at the Annual Conference, Geological Society of America, Denver, Colorado, 25-28 October 1999. Similar papers under different titles presented to the AIPG Student Chapter, Colorado School of Mines, 24 March 2000, the Denver Mining Club, Denver, Colorado, 1 June 2000, and for the Don Yardley Lecture, Mackay School of Mines, Department of Geological Sciences, University of Nevada, Reno, Nevada, 16 February 2001.
View Abstract

"Signing the Report – Recognition, Responsibility, and Liability for the Qualified Person," The Professional Geologist, AIPG, Vol.36 No. 8, July 1999, pages 16-18.
View Entire Article 67kB pdf file

"Continuing Education Through Other Societies," Newsletter, AIMA, Vol. 4, No. 2, June 1999, page 2.
View AIMA Article

"A Case Study of an Appraisal Project Turning Sour," Newsletter, AIMA, Vol. 4, No. 2, June 1999, pages 3, 7-8.
View AIMA Article

"Trends in the Regulation of Mineral Deposit Valuation," with Abbott, D. M., Jr., and Sandri, H. J. Presented at the SME Annual Conference, Denver, Colorado, 1-3 March 1999, SME Preprint #99-29, 8 pages.
View Abstract View Entire Paper View Slide Presentation 1002kB pdf file

1998

"Geologists as Independent Consultants in the Minerals Industry," Reflections on a Geological Career, AIPG Arizona and Colorado sections, 2nd Edition, 1998, pages 60-64.
View Entire Article 39kB pdf file

"Critique of Three Case Histories of Mineral Valuation," Newsletter, AIMA, Vol. 3, No. 1, March 1998, pages 2-4.
View AIMA Article

1995

"Valuation Methodologies for Mines and Mineral Tenements," Newsletter, AIMA, Vol. 1, No. 5, December 1995, pages 1-4.
View AIMA Article

"The Australian VALMIN Code for Mineral Appraisals," Newsletter, AIMA, Vol. 1, No. 4, October 1995, pages 1-2.
View AIMA Article

"Where is the Money Going? – International Opportunities," Prosperity and Professional Geology – 1995 Annual Conference Proceedings, AIPG, October 1995, pages 140-142.

"Opportunities for Professional Geologists in Australia," Prosperity and Professional Geology - 1995 Annual Conference Proceedings, AIPG, October 1995, pages 51-53.

1991

"The Australian Code for Reporting of Identified Mineral Resources and Ore Reserves," presented at the Colorado Mining Association's 94th National Western Mining Conference, Denver, Colorado, 24-27 February 1991.

1988

"Application of Economic Risk Assessment to Hazardous Waste Remediation Projects," presented at the APCA Annual Conference, Dallas, Texas, 19-24 June 1988, Preprint 88-35.4, 13 pages.
View Introduction View Full Paper

1987

"The Pending Oil Price Collapse," presented at the IAEE Denver Chapter monthly meeting, Denver, Colorado, 29 September 1987.

"Assessment of Technological Development Strategies for San Juan Basin Coals," with Sinor, J. E., New Mexico Research and Development Institute, publication NMRDI 2-74-4629, February 1987, 647 pages.

1984

"Australia's Latrobe Valley Brown Coal Fields," Mines Magazine, Vol. 74, No. 2, February 1984, pages 8-9.

1983

"The Brown Coal Fields of the Latrobe Valley, Victoria, Australia – History, Economics and Future Plans," presented at the Denver Coal Club monthly meeting, Denver, Colorado, 13 October 1983.

"Australian Brown Coal – An Important Domestic Energy Source," presented at the IAEE Denver Chapter monthly meeting, Denver, Colorado, 26 July 1983.

1982

"Economic Sensitivity Analysis Using Geostatistics," with Bryan, R. C., published in the 17th Application of Computers and Operations Research in the Mineral Industry, SME-AIME, Littleton, Colorado, 1982, pages 101-108.
View Abstract

1980

"Western U.S. Steam Coal Export Market Study, 1985-1990," Union Pacific Railroad, January 1980, 83 pages.

1979

"Appraisal of Sandstone-Type Uranium Prospects using Computer Modeling," presented at the 1979 SME-AIME Annual Conference, New Orleans, Louisiana, 18-22 February 1979, SME Preprint #79-5, 5 pages.
View Abstract

"Estimation of Minimum Specifications for Economically Explorable Sandstone-Type Uranium Deposits," Colorado School of Mines Quarterly, Vol. 74, No. 1, January 1979, 71 pages, a peer reviewed publication.
View Abstract

Other

Many articles not listed above can be found in the AIMA Newsletter, 1995-2000.

A large number of technology, economics, and international review articles for the Pace Synthetic Fuels Report, 1982-1987.

To request a copy of a listed paper not available above, email your request to Ellis International Services, Inc.

Email: ellis@minevaluation.com

Abbreviations used above:

  • AI – Appraisal Institute
  • AIMA – American Institute of Minerals Appraisers
  • AIME – American Institute of Mining, Metallurgical and Petroleum Engineers
  • AIPG – American Institute of Professional Geologists
  • ASA – American Society of Appraisers
  • ASFMRA – American Society of Farm Managers and Rural Appraisers
  • AusIMM – Australasian Institute of Mining and Metallurgy
  • CIM – Canadian Institute of Mining, Metallurgy, and Petroleum
  • CMA – Colorado Mining Association
  • CMMI – Council of Mining and Metallurgical Institutions
  • IAEE – International Association of Energy Economics
  • IASB – International Accounting Standards Board
  • IIMA – International Institute of Minerals Appraisers, the parent body of the American Institute of Minerals Appraisers (AIMA)
  • IVSC – International Valuation Standards Council, previously the International Valuation Standards Committee
  • PDAC – Prospectors and Developers Association of Canada
  • SAIMM – Southern African Institute of Mining and Metallurgy
  • SME – Society for Mining, Metallurgy, and Exploration