Summit Minerals (ASX:SUM) Cash And Cash Equivalents : A$2.19 Mil (As of Dec. 2023)

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What is Summit Minerals Cash And Cash Equivalents?

Summit Minerals's quarterly cash and cash equivalents declined from Dec. 2022 (A$3.41 Mil) to Jun. 2023 (A$2.46 Mil) but then stayed the same from Jun. 2023 (A$2.46 Mil) to Dec. 2023 (A$2.19 Mil).

Summit Minerals's annual cash and cash equivalents stayed the same from . 20 (A$0.00 Mil) to . 20 (A$0.00 Mil) but then increased from . 20 (A$0.00 Mil) to Jun. 2023 (A$2.46 Mil).

Summit Minerals Cash And Cash Equivalents Historical Data

The historical data trend for Summit Minerals'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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Summit Minerals Cash And Cash Equivalents Chart

Summit Minerals Annual Data

Trend

Jun23

Cash And Cash Equivalents

2.46

Summit Minerals Semi-Annual Data
	Dec22	Jun23	Dec23
Cash And Cash Equivalents	3.41	2.46	2.19

Summit Minerals 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.

Summit Minerals (ASX:SUM) 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.

Summit Minerals Cash And Cash Equivalents Related Terms

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Summit Minerals (ASX:SUM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Summit Minerals Ltd (ASX:SUM) » Definitions » Cash And Cash Equivalents

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Traded in Other Exchanges

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Address

389 Oxford Street, Level 1, Mount Hawthorn, WA, AUS, 6016

Website

https://www.summitminerals.com.au

Summit Minerals Ltd engages in acquiring, exploring, and developing battery mineral projects in Australia. It holds interest in the following projects: Stallion REE Uranium Project (WA), the Windfall Antimony Project (NSW), the Phillips River Lithium Project (WA), and the Northern REE Lithium Projects (WA), and the Bridgetown Lithium Projects (WA).