Total assets have undergone a catastrophic contraction from $370.2 million in 2024Q2 to just $4.0 million by 2024Q4, reflecting a potential liquidation of core mining interests.
| Total Current Assets | 72K | 629.82K | 309.64K | 1.69M |
| Cash & Short-Term Investments | 43.5K | 222.58K | 41.28K | 700.29K |
| Cash Only | 43.5K | 222.58K | 41.28K | 700.29K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 3.95M | 52.98M | 238.04M | 234.6M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.95M | 52.98M | 238.04M | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 234.6M |
| Total Assets | 4.03M | 53.61M | 238.35M | 236.29M |
| Asset Turnover | - | - | - | - |
| Asset Growth % | -92.49% | -77.51% | 0.87% | - |
| Total Current Liabilities | 2.41M | 1.13M | 641.32K | 132.07K |
| Accounts Payable | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - |
| Short-Term Debt | 1.33M | 1M | 100K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.08M | 125.95K | 541.32K | 132.07K |
| Current Ratio | 0.03x | 0.56x | 0.48x | 12.81x |
| Quick Ratio | 0.03x | 0.56x | 0.48x | 12.81x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 282.65K | 1.16M | 9.67M | 21.97M |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 282.65K | 1.16M | 9.67M | 21.97M |
| Total Liabilities | 2.7M | 2.29M | 10.32M | 22.1M |
| Total Debt | 1.33M | 1M | 100K | 0 |
| Net Debt | 1.29M | 777.42K | 58.72K | -700.29K |
| Debt / Equity | 1.00x | 0.02x | 0.00x | - |
| Debt / EBITDA | 1.62x | 0.19x | 0.01x | - |
| Net Debt / EBITDA | 1.57x | 0.15x | 0.00x | -0.08x |
| Interest Coverage | -18.59x | -277.82x | - | - |
| Total Equity | 1.33M | 51.32M | 228.04M | 214.19M |
| Equity Growth % | -97.41% | -77.5% | 6.46% | - |
| Book Value per Share | 0.13 | 2.31 | 7.93 | 7.45 |
| Total Shareholders' Equity | 1.33M | 51.32M | 228.04M | 214.19M |
| Common Stock | 3.85M | 52.88M | 234.6M | 234.6M |
| Retained Earnings | -4.31M | -5.02M | -6.57M | -20.41M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent liquidity and insolvency
As reported in recent financial statements, BGL's total assets plummeted from $370.2 million in 2024Q2 to $4.0 million by 2024Q4, signaling a severe contraction that suggests the company is rapidly liquidating or writing down its core mining interests to sustain basic operations.
The dramatic decline in asset value over two quarters implies that the company's previous valuation of its concessions was likely unsustainable or subject to significant impairment. Investors should monitor whether this trajectory indicates a total loss of project viability or merely a shift in accounting for exploration assets.
Based on the latest quarterly filings, BGL holds a nominal cash balance of $43,499, which, when measured against a current ratio of 0.03, indicates an extreme inability to meet short-term obligations and suggests the company is effectively operating on a day-to-day basis.
A current ratio of 0.03 is exceptionally low and implies that current liabilities vastly outweigh the company's liquid assets. This liquidity profile suggests that the firm may be unable to fund mandatory regulatory filings or concession maintenance fees in the Ashanti region without immediate external capital.
According to the balance sheet data, equity has experienced extreme swings, falling from $52.7 million in 2024Q3 to $1.3 million in 2024Q4, a trend that appears to reflect significant accounting adjustments rather than organic growth or shareholder value creation.
The erratic movement in equity, including a period of negative equity in 2024Q2, suggests that the company's capital structure is highly unstable. This volatility warrants further investigation into whether these changes are driven by aggressive share repurchases or massive write-downs of intangible mining assets.
As indicated by the 2024Q2 data, the company carried $368.2 million in net PPE before it effectively vanished in subsequent quarters, which suggests that the balance sheet may have been significantly distorted by the aggressive capitalization of speculative exploration costs.
The sudden disappearance of such a large asset base implies that the company's historical financial reporting may have masked the true economic reality of its mining concessions. Investors should be wary of the potential for further asset impairments that could render the remaining equity value entirely illusory.
Quick answers to the most common questions about buying BGL stock.
As of 2024, Blue Gold Limited (BGL) had total assets of $4.0M including $0.1M in current assets.
Blue Gold Limited (BGL) carries total debt of $1.3M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Blue Gold Limited (BGL) has total shareholders' equity (book value) of $1.3M ($0.13 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Blue Gold Limited (BGL) reported a current ratio of 0.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.