MKNGF (Mkango Resources) Long-Term Capital Lease Obligation : $0.00 Mil (As of Jun. 2024)

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What is Mkango Resources Long-Term Capital Lease Obligation?

Mkango Resources's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2024 was $0.00 Mil.

Mkango Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mkango Resources'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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Mkango Resources Long-Term Capital Lease Obligation Chart

Mkango Resources Annual Data

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Long-Term Capital Lease Obligation

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Mkango Resources Quarterly Data
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Mkango Resources (OTCPK:MKNGF) 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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Mkango Resources Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Mkango Resources Ltd (OTCPK:MKNGF) » Definitions » Long-Term Capital Lease Obligation

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Address

550 Burrard Street, Suite 2900, Vancouver, BC, CAN, V6C 0A3

Website

https://www.mkango.ca

Mkango Resources Ltd is engaged in the exploration and development of rare earth elements and associated minerals in the Republic of Malawi. The Company holds interests in exclusive prospecting licenses in Malawi namely the Phalombe license, the Thambani license, the Chimimbe license, and the Mchinji license. Mkango also has an exploration portfolio in Malawi, including the Mchinji rutile discovery, in addition to the Thambani uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.