Mongolian Mineral Property Valuation ...

This Guidelines Draft is intended as a principles-based over-arching framework for preparation of standards and methodologies for the valuation of Mineral Properties in Mongolia. After adoption by a government-mandated professional association or associations with accrediting and disciplinary responsibilities, accredited members could be recognised not only nationally, but also for preparing and submitting valuation reports with international regulatory bodies that govern public reporting. The Guidelines Draft represents a consensus of current best practices recommended as a basis for national codes or standards and IMVAL.

The Guidelines Draft outlines principles, minimum requirements, approaches and methodologies, valuer responsibilities, and definitions consistent with those adopted in the regulatory jurisdictions represented by IMVAL.

This Guidelines Draft incorporates the same fundamental principles of Competence, Materiality and Transparency, which are the same principles for resources and reserves reporting codes of countries that are members of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) are based.

The Guidelines Draft aligns with the generally accepted valuation concepts, principles, and definitions set forth in the IVSs 2013 Edition. References to Definitions and Framework Standards are made throughout the Guidelines Draft with the prefix “IVS”, and are numbered as per the 2013 Edition.

The Guidelines Draft deals with Valuation, which is distinct from Evaluation that is regulated by the Mineral Professional Committee.