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Selected Valuation/Appraisal summary descriptions:
Specific Valuation/Appraisal Projects Conducted by Mr. Ellis Include
- Bauxite, Australia: Advised on tax matters valuation for a bauxite mine and alumina refinery.
- Coal, Colorado: Provided expert geologist and minerals appraiser testimony to Arapahoe County Commissioners on the geology, economics and valuation of certain coal resources.
- Coal, USA: Valued coal mines and coal resources throughout the USA for acquisition and corporate reporting purposes.
- Coal and Petroleum, Colorado: Reviewed ownership and mining history of coal resources to determine present ownership and surface development implications. Estimated value of oil and gas reserves, advised on acquisition and compatible development.
- Coalbed Methane, Wyoming: Conducted valuation research. Reviewed prior valuations. Advised on current status for possible foreclosure dissolution by financier.
- Conservation Easement, southeast Colorado: Reappraised the donated development value of a conservation easement for an income tax filing. The value of the rights donated derived primarily from potential gravel mining and water storage. Testified about the appraisal to the Colorado State House Finance Committee. The Certified General Appraiser who had previously appraised the donation value had been forced to relinquish his license.
- Copper-Zinc, Wisconsin: Advised company and State officials on the appropriate appraisal standards and methods for determination of the value of the Crandon zinc and copper deposit for potential acquisition by the State of Wisconsin.
- Gold, Arizona and Nevada: Fairness opinion report for the merger of two companies.
- Gold, Nevada: Six annual market value appraisals of mineral lands and royalty interest in the Marigold gold mine.
- Gold, Venezuela: Crystallex v. Venezuela. Market valuation of the 20+ million oz Las Cristinas gold property for a multi-billion dollar expropriation claim before the World Bank’s ICSID arbitration court. Re-estimated Las Cristinas mineral reserves and resources for the prevailing costs and gold price at the valuation date. Developed market valuations based on mining scenarios considered by the court. Provided extensive consulting assistance to counsel. Testified before the 3-judge panel of the ICSID tribunal.
- Gold-Copper, Venezuela: Market value appraisals of the Las Brisas feasibility stage property, containing an undeveloped 10 million oz gold reserve. The sequential reports were developed in accordance with both the International Valuation Standards and the USA’s USPAP appraisal standards. The latter (2006) report was used as supporting valuation evidence by the World Bank’s ICSID arbitration court in making its award decision of $713 million for the Gold Reserve v. Venezuela damages claim for Venezuela’s 2008 revocation of the right to develop the mine. A copy of the latter report is included on the Publications and Professional Papers page for educational purposes: Click Here.
- Gravel, Colorado: Market value eminent domain (condemnation) appraisals of a gravel quarry and adjoining gravel property, southern Colorado. Conducted the appraisals of the surface real estate as a Certified General Appraiser and the appraisals of the minerals estates as a Certified Minerals Appraiser.
- Hard Rock Aggregates, Connecticut: Rock Acquisition v. State of Connecticut. As plaintiff’s expert, developed a market value appraisal for compensation for condemnation of an operating quarry property for a highway project. The appraisal included market valuation of back-filling reclamation of the quarry with clean fill disposal from the greater New York City region. Testified in court for 2.5 days. Rock Acquisition received the largest eminent domain verdict in the history of the state, being more than 10-fold the amount argued for by the State’s primary appraiser expert.
- Iron Ore (Magnetite), Minnesota: Essar. Market value appraisal of the mining rights held in a taconite iron ore property under development for blast furnace pellet production, for financial reporting under IFRS 3.
- Iron Ore (Magnetite), Ontario: Natural Resource Holdings. Modified the resource estimate for the Suni magnetite deposit to JORC Code classification requirements. Based on this resource estimate, developed a Market (Fair) valuation of the operator’s purchase option agreement, for financial reporting under IFRS 6 to the Tel Aviv Stock Exchange.
- Limestone/Dolomite Aggregates, Kentucky: Market value appraisal of an underground limestone/dolomite mine for foreclosure dissolution by the mortgage holder.
- Manganese, Arizona: Market value appraisal of a manganese ore stockpile and processing operation.
- Oil and Gas, California: Valued the environmental liability associated with the acquisition of Santa Barbara area petroleum fields by a present value method. This was based on using decision trees and Monte Carlo simulation to estimate the long term liability for more than 5,000 petroleum wells and 7,000 associated facilities.
- Oil Shale, Colorado and Utah: Market value appraisals of oil shale properties.
- Onyx Marble, Arizona: Wrote a critique report of valuations of an onyx marble quarry property, for mortgage loan financing.
- Phosphate and Sulfur, south-east USA: Conducted supply-demand studies and developed long range market forecasts for the international phosphate rock industry and the sulfur industry. Assisted with discount rate selection and other aspects of market value appraisals.
- Platinum, USA: Valuation of platinum exploration properties and exploration business, for litigation support.
- Sand, Colorado: Takings valuation for a highway project in Weld County.
- Sand and Gravel, Colorado: Animas Valley Sand and Gravel v. Board of County Commissioners of La Plata County. Appraised the value of a sand and gravel mining property in La Plata County for an inverse condemnation litigation, abiding by specific Colorado Supreme Court appraisal instructions for a regulatory takings value determination. Testified in Colorado District Court as an expert witness geologist, minerals economist, and minerals appraiser.
- Sand and Gravel, southwest Colorado: Market value appraisal of a sand and gravel quarry property for acquisition. The appraised property included two operating quarries, irrigated crop land with farm buildings, and a planned residential subdivision.
- Sand and Gravel, Colorado: Eiberger v. Baurer. Conducted formal review of two appraisals of sand and gravel mining and water storage in Weld County. Provided expert witness testimony in County Court
- Sand and Gravel, Colorado: Independent critique of two appraisals of compensation for taking of sand and gravel property in Adams County.
- Sand and Gravel, Colorado: Takings compensation valuation for an operating quarry in Empire, western Colorado.
- Sand and Gravel, Colorado: Varra Companies v. Nelson. Provided written expert opinion on the market royalty rate for mining of a sand and gravel property near Denver, Colorado.
- Sand and Top Soil, Colorado: Nichols v. La Plata County. Appraisal of the value of lost profits from excavation of sand and top soil.
- Silica Sand, Colorado: Colorado Silica Sand Inc. v. Briargate. Provided expert testimony as a geologist, minerals economist and minerals appraiser, on valuation of damages to a specialty industrial silica sand mining and processing operation in El Paso County.
- Silver, Idaho: Independence Lead Mines v. Hecla. Appraised the market value of a major silver deposit in Idaho before and after mining. Testified as an expert witness in an Idaho District Court on the value of damages related to a net profits interest royalty lease.
- Silver, Nevada: Kogan v. Silver King Mines. For a major Nevada silver mine, estimated mined and unmined resources for each mining claim by using geostatistical analysis of drilling data and aerial photo interpretation. Provided expert witness testimony on geology, economics, geostatistics, and valuation.
- Tripoli Silica, Arkansas: Market and use value appraisal of an operating tripoli silica mine property.
- Uranium, Western USA: Market valuation of ownership interest in a major underdeveloped uranium deposit.