Galileo Mining (ASX:GAL) Cash And Cash Equivalents : A$10.41 Mil (As of Dec. 2023)

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What is Galileo Mining Cash And Cash Equivalents?

Galileo Mining's quarterly cash and cash equivalents declined from Dec. 2022 (A$20.16 Mil) to Jun. 2023 (A$14.46 Mil) but then stayed the same from Jun. 2023 (A$14.46 Mil) to Dec. 2023 (A$10.41 Mil).

Galileo Mining's annual cash and cash equivalents increased from Jun. 2021 (A$5.40 Mil) to Jun. 2022 (A$7.02 Mil) and increased from Jun. 2022 (A$7.02 Mil) to Jun. 2023 (A$14.46 Mil).

Galileo Mining Cash And Cash Equivalents Historical Data

The historical data trend for Galileo Mining'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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Galileo Mining Cash And Cash Equivalents Chart

Galileo Mining Annual Data

Trend

Dec17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Cash And Cash Equivalents

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3.07

4.19

5.40

7.02

14.46

Galileo Mining Semi-Annual Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Cash And Cash Equivalents	Get a 7-Day Free Trial							9.04	7.02	20.16	14.46	10.41

Galileo Mining 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.

Galileo Mining (ASX:GAL) 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.

Galileo Mining Cash And Cash Equivalents Related Terms

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Galileo Mining (ASX:GAL) Business Description

Industry

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

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Address

13 Colin Street, West Perth, Perth, WA, AUS, 6005

Website

https://www.galileomining.com.au

Galileo Mining Ltd is engaged in the business of mineral exploration and development in Western Australia. It holds interests in the Fraser Range Project which covers exploration licences of approximately 492 km2 in the Albany-Fraser Orogen and Norseman Project which comprises exploration and prospecting licenses covering a total area of approximately 351 km2.