Summit Minerals (ASX:SUM) Total Current Assets : A$2.42 Mil (As of Dec. 2023)

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What is Summit Minerals Total Current Assets?

Total current assets includes Cash, Cash Equivalents, Marketable Securities, Total Receivables, Total Inventories, and Other Current Assets. Summit Minerals's total current assets for the quarter that ended in Dec. 2023 was A$2.42 Mil.

Summit Minerals Total Current Assets Historical Data

The historical data trend for Summit Minerals's Total Current Assets 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 Total Current Assets Chart

Summit Minerals Annual Data

Trend

Jun23

Total Current Assets

2.78

Summit Minerals Semi-Annual Data
	Dec22	Jun23	Dec23
Total Current Assets	3.66	2.78	2.42

Summit Minerals Total Current Assets Calculation

Total Current Assets are the asset that can be converted to cash or used to pay current liabilities within 12 months.

Summit Minerals's Total Current Assets for the fiscal year that ended in Jun. 2023 is calculated as

Total Current Assets	=	Cash, Cash Equivalents, Marketable Securities	+	Total Receivables	+	Total Inventories	+	Other Current Assets
	=	2.461	+	0.039	+	0	+	0.275
	=	2.78

Summit Minerals's Total Current Assets for the quarter that ended in Dec. 2023 is calculated as

Total Current Assets	=	Cash, Cash Equivalents, Marketable Securities	+	Total Receivables	+	Total Inventories	+	Other Current Assets
	=	2.194	+	0.122	+	0	+	0.108
	=	2.42

Total Current Assets is linked to the Current Ratio, which is the result of dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.

Total Current Assets is also linked to Working Capital, Net working capital is calculated as Total Current Assets minus Total Current Liabilities.

Summit Minerals (ASX:SUM) Total Current Assets Explanation

In Ben Graham's calculation of liquidation value, inventory is only considered worth half of its book value, and accounts receivable is considered worth 75% of its value. Therefore the liquidation value is lower than calculated from total current assets.

Summit Minerals's Liquidation Value for the quarter that ended in Dec. 2023 is

	Liquidation value
=	Cash, Cash Equivalents, Marketable Securities	-	Total Liabilities	+	(0.75 * Accounts Receivable)	+	(0.5 * Total Inventories)
=	2.194	-	0.309	+	0.75 * 0.122	+	0.5 * 0
=	1.98

Summit Minerals Total Current Assets 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 » Total Current Assets

Comparable Companies

Traded in Other Exchanges

N/A

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).