@ARTICLE{Uberman_Robert_10_2018, author={Uberman, Robert}, number={Nr 106}, journal={Zeszyty Naukowe Instytutu Gospodarki Surowcami Mineralnymi Polskiej Akademii Nauk}, pages={199-210}, address={More info at Journal site: https://min-pan.krakow.pl/wydawnictwo/czasopisma/zeszyty-naukowe-instytutu-surowcami-mineralnymi-i-energia-pan/ https://min-pan.krakow.pl/wydawnictwo/wp-content/uploads/sites/4/2018/02/Wskazowki-ZN-ang-2018.pdf}, howpublished={online}, year={2018}, publisher={Instytut Gospodarki Surowcami Mineralnymi Polskiej Akademii Nauk}, abstract={The presented article contains an analysis resulting from 10 years’ experience in the implementation of the POLVAL Code to mineral assets valuations carried out by Competent Valuators. It had been based on data of more than 100 performed valuations. First and foremost, challenges resulting from preferences given by various relevant regulations to the application of a market-based approach were identified. It was underlined that they prompt Valuators to compromise the quality of the database containing reference transactions. In the case of an income based approach, issues resulting from the adoption of estimates and subjective assumptions were discussed. It was indicated that this fact alone cannot create a valid argument to reject the results of such a valuation providing that they have been implemented in a coherent manner and uncertainty was reflected in the value of the applied discount rate. Separately recommended changes to the present version of the POLVAL Code were presented. In conclusion, a significant, positive role of the introduction of the POLVAL Code for the structuring processes of mineral asset valuation was indicated.}, type={Artykuły / Articles}, title={10 years of the POLVAL Code applied in practice – challenges regarding methods applied}, URL={http://www.journals.pan.pl/Content/108546/PDF/Uberman.pdf}, doi={10.24425/124391}, keywords={mineral deposits, mineral assets, mineral assets valuation, the POLVAL Code}, }