The appraisal of mineral-bearing properties
Paschall, Robert H.
The appraisal of mineral-bearing properties - 1974 - Valuation (ASA) October 1974, 2-9(8) .
Petroleum and mining properties differ from other types of real property in that they suffer depletion and are essentially irreplaceable; their market is commonly regional, national or international rather than local; their value is consonant with the present worth of their `reserves`, and reserves estimation is a science; cost is not relevant to value, sales are rare and are not useful except for the extraction of capitalisation rates, and the income approach to value is therefore paramount.
MINERAL VALUATION
The appraisal of mineral-bearing properties - 1974 - Valuation (ASA) October 1974, 2-9(8) .
Petroleum and mining properties differ from other types of real property in that they suffer depletion and are essentially irreplaceable; their market is commonly regional, national or international rather than local; their value is consonant with the present worth of their `reserves`, and reserves estimation is a science; cost is not relevant to value, sales are rare and are not useful except for the extraction of capitalisation rates, and the income approach to value is therefore paramount.
MINERAL VALUATION