In financial accounting, a balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
Galileo Mining Ltd Balance Sheet Statement - Assets
As of 30 Jun 2024, The total current assets of Galileo Mining Ltd (ASX:GAL) was around $13,724,004 which consisted of $13,617,755 of Cash, no Inventory and $40,625 of Net receivables. Current assets represent all the assets of a company that are expected to be conveniently sold, consumed, used, or exhausted through standard business operations within one year.
All amounts in AUD
The latest balance sheet of Galileo Mining Ltd also showed $34,520,065 of Property Plant Equipment and no Good will. Also there were no Intangible assets and no Other assets. The total assets including current and Intangibles/Deferred Long Term Asset Charges were $48,267,987.
Galileo Mining Ltd Balance Sheet Statement - Liabilities
GAL's latest annual results shows the balance sheet has $212,003 of Accounts Payable. Also there were no Short/Long term debt, no Long term debt, $112,540 of Other Current liabilities and $787,440 of Total Current Liabilities. Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle.
As per the 30 Jun 2024's annual report of Galileo Mining Ltd, the total liabilities were $871,220.
GAL Balance Sheet Statement - Stock Holder Equity
Stockholders' equity, also referred to as shareholders' equity, is the remaining amount of assets available to shareholders after all liabilities have been paid. It is calculated either as a firm's total assets less its total liabilities or alternatively as the sum of share capital and retained earnings less treasury shares. Stockholders' equity might include common stock, paid-in capital, retained earnings and treasury stock.
The latest Balance sheet of Galileo Mining Ltd showed the total stock holder equity was $47,396,767 which consisted of $48,218,600 of Common stocks, $-2,611,784 of Retained earnings and no Other stock holder equity.
GAL Balance Sheet Statement History
Following table shows the history of balance sheet for Galileo Mining Ltd (GAL).
| 30 Jun 2024 | 30 Jun 2023 | 30 Jun 2022 | 30 Jun 2021 | |
|---|---|---|---|---|
| Cash | 13,617,755 | 14,456,650 | 13,412,416 | 5,395,503 |
| Net Receivables | 40,625 | 339,561 | 99,809 | 46,301 |
| Inventory | - | - | - | - |
| Total Current Assets | 13,724,004 | 14,838,409 | 13,542,410 | 5,479,350 |
| Property Plant Equipment | 34,520,065 | 29,529,529 | 17,571,742 | 14,000,878 |
| Good Will | - | - | - | - |
| Intangible Assets | - | - | - | - |
| Other Assets | - | - | - | - |
| Deferred Long Term Asset Charges | - | - | - | - |
| Total Assets | 48,267,987 | 44,714,009 | 31,140,288 | 19,506,299 |
| Accounts Payable | 212,003 | 1,083,533 | 411,847 | 81,190 |
| Short/Long Term Debt | - | 55,049 | 111,756 | 59,320 |
| Other Current Liabilities | 112,540 | 119,306 | 85,804 | - |
| Long Term Debt | - | - | - | - |
| Other Liabilities | - | - | - | - |
| Total Current Liabilities | 787,440 | 1,367,938 | 691,139 | 237,944 |
| Total Liabilities | 871,220 | 1,437,438 | 838,352 | 267,859 |
| Common Stock | 48,218,600 | 48,218,600 | 28,864,590 | 22,929,035 |
| Retained Earnings | -2,611,784 | -6,299,322 | -5,451,387 | -4,593,671 |
| Treasury Stock | - | - | - | - |
| Other Stockholder Equity | - | - | - | - |
| Total Stockholder Equity | 47,396,767 | 43,276,571 | 24,349,620 | 19,238,440 |
| Net Tangible Assets | 47,396,767 | 43,276,571 | 24,349,620 | 19,238,440 |
Galileo Mining Ltd (ASX:GAL) Balance Sheet Statement FAQ
1. How much Cash Galileo Mining Ltd has on their balance sheet?
As of 30 Jun 2024, Galileo Mining Ltd (ASX:GAL) has $13,617,755 of Cash.
2. What's the long term debt of Galileo Mining Ltd?
As per the latest Balance sheet of Galileo Mining Ltd (ASX:GAL), it has no Long term debt.
3. How much share holder equity does Galileo Mining Ltd has?
The Galileo Mining Ltd (ASX:GAL)'s balance sheet shows that it has $47,396,767 of Total stock holder equity.