Millennial Lithium (TSXV:ML) Effective Interest Rate on Debt % : 14.50% (As of Aug. 2021)

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What is Millennial Lithium Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Millennial Lithium's annualized positive value of Interest Expense for the quarter that ended in Aug. 2021 was C$0.02 Mil. Millennial Lithium's average total debt for the quarter that ended in Aug. 2021 was C$0.17 Mil. Therefore, Millennial Lithium's annualized Effective Interest Rate on Debt % for the quarter that ended in Aug. 2021 was 14.50%.

Millennial Lithium Effective Interest Rate on Debt % Historical Data

The historical data trend for Millennial Lithium's Effective Interest Rate on Debt % 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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Millennial Lithium Effective Interest Rate on Debt % Chart

Millennial Lithium Annual Data

Trend

Feb12

Feb13

Feb14

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Effective Interest Rate on Debt %

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46.53

7.67

Millennial Lithium Quarterly Data
	Nov16	Feb17	May17	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															12.92	10.28	57.14	11.24	14.50

Competitive Comparison of Millennial Lithium's Effective Interest Rate on Debt %

For the Other Industrial Metals & Mining subindustry, Millennial Lithium's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Millennial Lithium's Effective Interest Rate on Debt % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Millennial Lithium's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Millennial Lithium's Effective Interest Rate on Debt % falls into.

Millennial Lithium Effective Interest Rate on Debt % Calculation

Millennial Lithium's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Feb. 2021 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Feb. 2020 )	+	Total Debt (A: Feb. 2021 ))	/ count )
=	-1 * -0.031	/	( (0.404	+	0)	/ 1 )
=	-1 * -0.031	/	0.404
=	7.67 %

where

	Total Debt (A: Feb. 2020 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.315	+	0.089
=	0.404

	Total Debt (A: Feb. 2021 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0
=	0

Millennial Lithium's annualized Effective Interest Rate on Debt % for the quarter that ended in Aug. 2021 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: May. 2021 )	+	Total Debt (Q: Aug. 2021 ))	/ count )
=	-1 * -0.024	/	( (0.178	+	0.153)	/ 2 )
=	-1 * -0.024	/	0.1655
=	14.50 %

where

	Total Debt (Q: May. 2021 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.096	+	0.082
=	0.178

	Total Debt (Q: Aug. 2021 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.053	+	0.1
=	0.153

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Aug. 2021) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Millennial Lithium (TSXV:ML) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Millennial Lithium Effective Interest Rate on Debt % Related Terms

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Millennial Lithium (TSXV:ML) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Millennial Lithium Corp (TSXV:ML) » Definitions » Effective Interest Rate on Debt %

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Address

350 Bay Street, Suite 400, Toronto, ON, CAN, M5H 2S6

Website

http://www.millenniallithium.com

Millennial Lithium Corp is engaged in the business of acquisition, exploration and development of lithium mineral properties. The company's projects include the Pastos Grandes Lithium Project and Cauchari East Lithium Project. It has one operating segment, being the exploration of resource properties.