55 North Mining (XCNQ:FFF) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Dec. 2023)

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What is 55 North Mining Long-Term Capital Lease Obligation?

55 North Mining's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.00 Mil.

55 North Mining Long-Term Capital Lease Obligation Historical Data

The historical data trend for 55 North 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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55 North Mining Long-Term Capital Lease Obligation Chart

55 North Mining Annual Data

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Long-Term Capital Lease Obligation

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55 North Mining Quarterly Data
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55 North Mining (XCNQ:FFF) 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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55 North Mining (XCNQ:FFF) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » 55 North Mining Inc (XCNQ:FFF) » Definitions » Long-Term Capital Lease Obligation

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Address

401 Bay Street, Suite 2702, Toronto, ON, CAN, M5H 2Y4

Website

https://www.55northmining.com

55 North Mining Inc is engaged in the acquisition, exploration, development and extraction of natural resources, specifically precious metals. It is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.

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