Magnum Mining and Exploration (Magnum Mining and Exploration) Long-Term Capital Lease Obligation : $0.00 Mil (As of Jun. 2023)

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What is Magnum Mining and Exploration Long-Term Capital Lease Obligation?

Magnum Mining and Exploration's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $0.00 Mil.

Magnum Mining and Exploration Long-Term Capital Lease Obligation Historical Data

The historical data trend for Magnum Mining and Exploration'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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Magnum Mining and Exploration Long-Term Capital Lease Obligation Chart

Magnum Mining and Exploration Annual Data

Trend

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Long-Term Capital Lease Obligation

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Magnum Mining and Exploration Semi-Annual Data
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Magnum Mining and Exploration (OTCPK:MGUFF) 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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Magnum Mining and Exploration (Magnum Mining and Exploration) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Magnum Mining and Exploration Ltd (OTCPK:MGUFF) » Definitions » Long-Term Capital Lease Obligation

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MGU:Australia

Address

52 Phillip Street, Level 11, Sydney, NSW, AUS, 2000

Website

https://www.mmel.com.au

Magnum Mining and Exploration Ltd is a mining and exploration company. Its geographical segments include Australia, the United States, and South Africa. The company's projects include Buena Vista Magnetite Project and HIsmelt Green Pig Iron Project.

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