Novo Resources (ASX:NVO) Cash And Cash Equivalents : A$16.48 Mil (As of Mar. 2024)

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What is Novo Resources Cash And Cash Equivalents?

Novo Resources's quarterly cash and cash equivalents declined from Sep. 2023 (A$18.86 Mil) to Dec. 2023 (A$12.93 Mil) but then increased from Dec. 2023 (A$12.93 Mil) to Mar. 2024 (A$16.48 Mil).

Novo Resources's annual cash and cash equivalents increased from Dec. 2021 (A$35.33 Mil) to Dec. 2022 (A$52.28 Mil) but then declined from Dec. 2022 (A$52.28 Mil) to Dec. 2023 (A$12.93 Mil).

Novo Resources Cash And Cash Equivalents Historical Data

The historical data trend for Novo Resources's Cash And Cash Equivalents can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Novo Resources Cash And Cash Equivalents Chart

Novo Resources Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Dec21

Dec22

Dec23

Cash And Cash Equivalents

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45.02

32.02

35.33

52.28

12.93

Novo Resources Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Cash And Cash Equivalents	Get a 7-Day Free Trial															33.45	30.10	18.86	12.93	16.48

Novo Resources Cash And Cash Equivalents Calculation

Cash and cash equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper.

Novo Resources (ASX:NVO) Cash And Cash Equivalents Explanation

A high number means either:

1) The company has competitive advantage generating lots of cash

2) Just sold a business or bonds (not necessarily good)

A low stockpile of cash usually means poor to mediocre economics.

There are 3 ways to create large cash reserve.

1) Sell new bonds or equity to public

2) Sell business or asset

3) It has an ongoing business generating more cash than it burns (usually means durable competitive advantage)

When a company is suffering a short term problem, Buffett looks at cash or marketable securities to see whether it has the financial strength to ride it out.

Important: Lots of cash and marketable securities + little debt = good chance that the business will sail on through tough times.

Test to see what is creating cash by looking at past 7 yrs of balance sheets. This will reveal how the cash was created.

Be Aware

Depreciation estimates make the calculation of net income susceptible to management's accounting choices. These choices can be either overly aggressive or overly conservative.

Novo Resources Cash And Cash Equivalents Related Terms

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Novo Resources (ASX:NVO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novo Resources Corp (ASX:NVO) » Definitions » Cash And Cash Equivalents

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Traded in Other Exchanges

NSRPF:USA 1NO:Germany NVO:Canada

Address

1199 West Hastings Street, Vancouver, BC, CAN, V6E 3T5

Website

https://www.novoresources.com

Novo Resources Corp is a company engaged in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold. The organization has business interests in properties located in Australia, Canada, and the USA. Its projects include Beatons Creek Property, Millennium Property, Blue Spec; Paleo-Placer; Comet Well, and others. It has two segments Mining operations and exploration operations.