Mineral Reserve denotes the economically mineable part of a measured or indicated mineral resource validated by at least a pre-feasibility study. This typically includes adequate information on mining, processing, metallurgical, economic and other factors that demonstrate, at the time, that economic extraction is justified. A mineral reserve may be proven (if validated by at least a feasibility study) and probable (shows minable economic potential). In business valuation analysis, Mineral Reserves qualify as intangible assets because they can be recognised and valuators can reliably measure the associated economic benefits. 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 a mineral reserve, business valuators apply techniques under the income, market and asset methods.