Indicated Mineral Resource denotes the quantity, grade or quality, densities, shape and physical characteristics, that must be estimated sufficiently to allow confident interpretation of the geological framework and to reasonably assume the continuity of mineralisation. In business valuation analysis, an Indicated Mineral Resource qualifies as an intangible asset because it can be recognised, separated, and the associated economic benefits reliably measured. Intangible assets are a class of assets without physical form yet can offer immense value to owners. To estimate the fair market value of intangible assets such as an indicated mineral resource, business valuation analysts apply techniques under the income, market and asset methods.