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Collective Mining (OTCPK:CNLMF) Long-Term Capital Lease Obligation

: $0.06 Mil (As of Sep. 2022)
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Collective Mining's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2022 was $0.06 Mil.

Collective Mining's quarterly Long-Term Capital Lease Obligation declined from Mar. 2022 ($0.11 Mil) to Jun. 2022 ($0.08 Mil) and declined from Jun. 2022 ($0.08 Mil) to Sep. 2022 ($0.06 Mil).

Collective Mining's annual Long-Term Capital Lease Obligation increased from . 20 ($0.00 Mil) to Dec. 2020 ($0.10 Mil) but then declined from Dec. 2020 ($0.10 Mil) to Dec. 2021 ($0.07 Mil).

Collective Mining Long-Term Capital Lease Obligation Historical Data

The historical data trend for Collective Mining's Long-Term Capital Lease Obligation 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.

* Premium members only.

Collective Mining Annual Data
Trend Dec20 Dec21
Long-Term Capital Lease Obligation
0.10 0.07

Collective Mining Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Long-Term Capital Lease Obligation Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.08 0.07 0.11 0.08 0.06

Collective Mining  (OTCPK:CNLMF) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Collective Mining Long-Term Capital Lease Obligation Related Terms

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Collective Mining (OTCPK:CNLMF) Business Description

Collective Mining logo
Traded in Other Exchanges
82 Richmond Street East, 4th Floor, Toronto, ON, CAN, M5C 1P1
Collective Mining Ltd is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. The company currently has 100% interest in two projects located in Colombia, namely, Guayabales and San Antonio. The company is responsible for discovering, permitting and constructing the gold mine in Colombia. The company is rapidly advancing exploration on large-scale copper-gold-molybdenum porphyry targets in the mining-friendly department of Caldas in Colombia. Drilling is underway at the Guayabales project which is strategically located contiguous to the Marmato deposit, with initial assay results ongoing.