Big Red Mining (XCNQ:RED) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Aug. 2024)

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What is Big Red Mining Long-Term Capital Lease Obligation?

Big Red Mining's Long-Term Capital Lease Obligation for the quarter that ended in Aug. 2024 was C$0.00 Mil.

Big Red Mining Long-Term Capital Lease Obligation Historical Data

The historical data trend for Big Red Mining'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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Big Red Mining Long-Term Capital Lease Obligation Chart

Big Red Mining Annual Data

Trend

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Long-Term Capital Lease Obligation

Big Red Mining Quarterly Data
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Big Red Mining (XCNQ:RED) 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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Big Red Mining Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Big Red Mining Corp (XCNQ:RED) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

K8J:Germany

Address

101 - 17565 58 Avenue, Surrey, BC, CAN, V3S 4E3

Website

https://www.bigredmining.com

Big Red Mining Corp is in the business of acquiring and exploring mineral properties. It is an exploration company focused on developing its flagship copper project, the Dobie Lake Copper Property in Ontario, Canada. The management team possesses extensive experience in financing, exploration, development, and mining. The Company's mission is to conduct future drilling campaigns on the Dobie Lake copper property to maximize its minable resource potential.

Executives

Jag Sandhu	10% Security Holder, Director, Senior Officer
James Atkinson	Director

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