Mineral Appraisals

Establishing the market value of mineral assets can be complex, especially when market data is limited. At Groff Engineering, we apply three recognized appraisal methodologies to ensure accurate and defensible valuations:

What are the three approaches to mineral valuation?

We evaluate mineral properties using:

• Sales Comparison Approach
  Compares recent sales of similar mineral assets to estimate value.
• Cost Approach
  Estimates value based on the cost to reproduce or replace the asset.
• Income Approach
  Determines value based on projected income, such as royalties or production revenue.

Each valuation may use one or more of these approaches depending on the available data and property characteristics.

Brian Groff is a Professional Engineer in Mining & Mineral Processing, a Certified Minerals Appraiser (CMA), and a member of the International Institute of Minerals Appraisers (IIMA).

He has performed mineral appraisals and evaluations for:

• Estate settlements
• Litigation support
• Royalty and lease valuation
• US Tax Court
• Due diligence for acquisitions and sales

All appraisals are completed in compliance with:

• SME Guide for Reporting Exploration Results, Mineral Resources, and Mineral Reserves (The SME Guide)
• Uniform Standards for Professional Appraisal Practice (USPAP)

What is the International Institute of Minerals Appraisers (IIMA)?

The IIMA is a professional organization dedicated to mineral property valuation. Its members include experienced professionals in:

• Engineering
• Geology
• Real estate appraisal

The organization maintains strict standards for:

• Education
• Professional experience
• Ethical conduct

The IIMA also contributes to industry standards through collaboration with the Society for Mining, Metallurgy & Exploration (SME) and international partners, helping align U.S. practices with International Mineral Valuation Standards (IMVAL).

• Certified Minerals Appraiser (CMA) credentials
• USPAP-compliant reporting
• Experience across legal, estate, and royalty cases
• Access to multidisciplinary appraisal teams
• Strong alignment with industry and international standards