Velocity Minerals (TSXV:VLC) Long-Term Capital Lease Obligation : C$0.04 Mil (As of Mar. 2024)

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What is Velocity Minerals Long-Term Capital Lease Obligation?

Velocity Minerals's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$0.04 Mil.

Velocity Minerals's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (C$0.10 Mil) to Dec. 2023 (C$0.07 Mil) and declined from Dec. 2023 (C$0.07 Mil) to Mar. 2024 (C$0.04 Mil).

Velocity Minerals's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (C$0.05 Mil) to Dec. 2022 (C$0.16 Mil) but then declined from Dec. 2022 (C$0.16 Mil) to Dec. 2023 (C$0.07 Mil).

Velocity Minerals Long-Term Capital Lease Obligation Historical Data

The historical data trend for Velocity Minerals'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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Velocity Minerals Long-Term Capital Lease Obligation Chart

Velocity Minerals Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.02

0.04

0.05

0.16

0.07

Velocity Minerals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.16	0.13	0.10	0.07	0.04

Velocity Minerals (TSXV:VLC) 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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Velocity Minerals (TSXV:VLC) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Velocity Minerals Ltd (TSXV:VLC) » Definitions » Long-Term Capital Lease Obligation

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VLCJF:USA

Address

999 West Hastings Street, Suite 890, Vancouver, BC, CAN, V6C 2W2

Website

https://www.velocityminerals.com

Velocity Minerals Ltd is a gold exploration and development company focused on eastern Europe. It is engaged in gold exploration in Bulgaria. It is focused on Tintyava Property, Nadezhda Property, Momchil Property, and Iglika Property in Bulgaria.

Executives

Robert Charles Kopple

10 percent owner

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