Sorrento Resources (XCNQ:SRS) Cash And Cash Equivalents : C$0.03 Mil (As of Dec. 2023)

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What is Sorrento Resources Cash And Cash Equivalents?

Sorrento Resources's quarterly cash and cash equivalents declined from Jun. 2023 (C$0.32 Mil) to Sep. 2023 (C$0.20 Mil) but then stayed the same from Sep. 2023 (C$0.20 Mil) to Dec. 2023 (C$0.03 Mil).

Sorrento Resources's annual cash and cash equivalents increased from . 20 (C$0.00 Mil) to Jun. 2022 (C$0.26 Mil) and increased from Jun. 2022 (C$0.26 Mil) to Jun. 2023 (C$0.32 Mil).

Sorrento Resources Cash And Cash Equivalents Historical Data

The historical data trend for Sorrento Resources'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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Sorrento Resources Cash And Cash Equivalents Chart

Sorrento Resources Annual Data

Trend

Jun22

Jun23

Cash And Cash Equivalents

0.26

0.32

Sorrento Resources Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash And Cash Equivalents	Get a 7-Day Free Trial				0.14	0.51	0.32	0.20	0.03

Sorrento Resources 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.

Sorrento Resources (XCNQ:SRS) 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.

Sorrento Resources Cash And Cash Equivalents Related Terms

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Sorrento Resources (XCNQ:SRS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Sorrento Resources Ltd (XCNQ:SRS) » Definitions » Cash And Cash Equivalents

Comparable Companies

Traded in Other Exchanges

SRSLF:USA

Address

9285 - 203B Street, Langley, BC, CAN, V1M 2L9

Website

https://www.sorrentoresources.ca

Sorrento Resources Ltd engages in the exploration, development, and exploitation of mineral resources in Canada. Its projects include Wing Pond project, Harmsworth project, PEG lithium project, Silver Mountain project and others.

Executives

Blair Lawrence Naughty

10% Security Holder