Surge Copper (TSXV:SURG) Long-Term Capital Lease Obligation : C$0.06 Mil (As of Dec. 2023)

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What is Surge Copper Long-Term Capital Lease Obligation?

Surge Copper's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.06 Mil.

Surge Copper's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 (C$0.08 Mil) to Sep. 2023 (C$0.07 Mil) and declined from Sep. 2023 (C$0.07 Mil) to Dec. 2023 (C$0.06 Mil).

Surge Copper's annual Long-Term Capital Lease Obligation increased from Mar. 2021 (C$0.00 Mil) to Mar. 2022 (C$0.11 Mil) but then declined from Mar. 2022 (C$0.11 Mil) to Mar. 2023 (C$0.08 Mil).

Surge Copper Long-Term Capital Lease Obligation Historical Data

The historical data trend for Surge Copper'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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Surge Copper Long-Term Capital Lease Obligation Chart

Surge Copper Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Long-Term Capital Lease Obligation

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0.03

0.11

0.08

Surge Copper Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.10	0.08	0.08	0.07	0.06

Surge Copper (TSXV:SURG) 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.

Surge Copper Long-Term Capital Lease Obligation Related Terms

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Surge Copper (TSXV:SURG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Surge Copper Corp (TSXV:SURG) » Definitions » Long-Term Capital Lease Obligation

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SRGXF:USA G6D2:Germany

Address

888-700 West Georgia Street, PO Box 10351, Vancouver, BC, CAN, V7Y 1G5

Website

https://www.surgecopper.com

Surge Copper Corp is engaged in the acquisition, exploration, and development of mineral properties hosting copper, gold, silver, and molybdenum prospects. The firm owns Ootsa Property, located in central British Columbia. The Company owns a 100% interest in the Ootsa Property, an exploration project containing the East Seel, West Seel, and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals.

Executives

Christian Peter Kargl-simard

Director