Griffin Mining (LSE:GFM) Long-Term Capital Lease Obligation : £0.5 Mil (As of Jun. 2023)

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What is Griffin Mining Long-Term Capital Lease Obligation?

Griffin Mining's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was £0.5 Mil.

Griffin Mining's quarterly Long-Term Capital Lease Obligation declined from Jun. 2022 (£0.6 Mil) to Dec. 2022 (£0.6 Mil) and declined from Dec. 2022 (£0.6 Mil) to Jun. 2023 (£0.5 Mil).

Griffin Mining's annual Long-Term Capital Lease Obligation increased from Dec. 2020 (£0.0 Mil) to Dec. 2021 (£0.6 Mil) but then declined from Dec. 2021 (£0.6 Mil) to Dec. 2022 (£0.6 Mil).

Griffin Mining Long-Term Capital Lease Obligation Historical Data

The historical data trend for Griffin 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.

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Griffin Mining Long-Term Capital Lease Obligation Chart

Griffin Mining Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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0.20

0.37

0.60

0.56

Griffin Mining Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	0.60	0.57	0.56	0.50

Griffin Mining (LSE:GFM) 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.

Griffin Mining Long-Term Capital Lease Obligation Related Terms

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Griffin Mining (LSE:GFM) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Griffin Mining Ltd (LSE:GFM) » Definitions » Long-Term Capital Lease Obligation

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GG7:Germany

Address

2 Church Street, Clarendon House, Hamilton, BMU, HM11

Website

http://www.griffinmining.com

Griffin Mining Ltd is a mining and investment company. It is principally engaged in mining and exploration activities. The company is engaged in the Caijiaying zinc gold mine in the PRC.

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