Prospect Ridge Resources (FRA:0ED) Long-Term Capital Lease Obligation : €0.14 Mil (As of Aug. 2024)

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What is Prospect Ridge Resources Long-Term Capital Lease Obligation?

Prospect Ridge Resources's Long-Term Capital Lease Obligation for the quarter that ended in Aug. 2024 was €0.14 Mil.

Prospect Ridge Resources's quarterly Long-Term Capital Lease Obligation declined from Feb. 2024 (€0.06 Mil) to May. 2024 (€0.05 Mil) but then increased from May. 2024 (€0.05 Mil) to Aug. 2024 (€0.14 Mil).

Prospect Ridge Resources's annual Long-Term Capital Lease Obligation declined from Aug. 2022 (€0.15 Mil) to Aug. 2023 (€0.08 Mil) but then increased from Aug. 2023 (€0.08 Mil) to Aug. 2024 (€0.14 Mil).

Prospect Ridge Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Prospect Ridge Resources'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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Prospect Ridge Resources Long-Term Capital Lease Obligation Chart

Prospect Ridge Resources Annual Data

Trend

Aug20

Aug21

Aug22

Aug23

Aug24

Long-Term Capital Lease Obligation

0.15

0.08

0.14

Prospect Ridge Resources Quarterly Data
	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial											0.08	0.07	0.06	0.05	0.14

Prospect Ridge Resources (FRA:0ED) 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.

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Prospect Ridge Resources Business Description

Industry

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PRRSF:USA PRR:Canada

Address

1030 West Georgia Street, Suite 1507, Vancouver, BC, CAN, V6E 2Y3

Website

https://www.prospectridgeresources.com

Prospect Ridge Resources Corp is a mineral exploration company engaged in the identification, acquisition, and exploration of mineral projects in North America. The company's material property is the Galinee Project, consisting of 15 contiguous mineral claims covering an area of approximately 839.45 hectares in the province of Quebec. It also holds interest in Holy Grail Property which is located north of Terrace, BC. It started the project Knauss Creek Property.

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