PNCKF (Galleon Gold) Retained Earnings : $-44.59 Mil (As of May. 2024)

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What is Galleon Gold Retained Earnings?

Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Galleon Gold's retained earnings for the quarter that ended in May. 2024 was $-44.59 Mil.

Galleon Gold's quarterly retained earnings declined from Nov. 2023 ($-42.98 Mil) to Feb. 2024 ($-44.36 Mil) and declined from Feb. 2024 ($-44.36 Mil) to May. 2024 ($-44.59 Mil).

Galleon Gold's annual retained earnings increased from Nov. 2021 ($-50.81 Mil) to Nov. 2022 ($-46.50 Mil) and increased from Nov. 2022 ($-46.50 Mil) to Nov. 2023 ($-42.98 Mil).

Galleon Gold Retained Earnings Historical Data

The historical data trend for Galleon Gold's Retained Earnings 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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Galleon Gold Retained Earnings Chart

Galleon Gold Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

Retained Earnings

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-42.87

-48.56

-50.81

-46.50

-42.98

Galleon Gold Quarterly Data
	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24
Retained Earnings	Get a 7-Day Free Trial															-44.24	-45.20	-42.98	-44.36	-44.59

Galleon Gold Retained Earnings Calculation

Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.

Of course, if a company loses, it is called retained losses, or accumulated losses.

Galleon Gold (OTCPK:PNCKF) Retained Earnings Explanation

Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.

For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.

If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.

Of course, many companies with negative retained earnings have indeed lost money in the past.

Retained Earnings: Warren Buffett's Secret.

One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.

If the company loses more than it has accumulated, retained earnings is negative.

If a company isn't adding to its retained earnings, it isn't growing its net worth.

Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.

Microsoft is negative because it chose to buyback stock and pay dividends.

The more earnings retained, the faster it grows and increases growth rate for future earnings.

Galleon Gold Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Galleon Gold Corp (OTCPK:PNCKF) » Definitions » Retained Earnings

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3H90:Germany GGO:Canada

Address

161 Bay Street, 27th Floor, Suite 2700, PO Box 508, TD Canada Trust Tower, Toronto, ON, CAN, M5J 2S1

Website

https://www.galleongold.com

Galleon Gold Corp is principally engaged in the business of acquiring, exploring, and developing mineral properties in Canada and the United States, those containing gold, silver, platinum group elements (PGEs), copper, nickel, and associated base and precious metals. Its projects include West Cache Gold, Ontario, Neal, Idaho, USA, Chester, New Brunswick, and Other properties in Canada. Its properties are located in two geographical areas, Canada, and the United States of America, and the majority of the revenue comes from Canada.

Executives

J Jay Jaski	director, officer: Chairman, CEO	95 WELLINGTON STREET W SUITE 900, PO BOX 28, TORONTO A6 M5J 2N7
Harry Jeffrey Blum	director	20 EGLINTON AVE W STE 2100, PO BOX 2014, TORONTO A6 M4R 1K8
William Stearns Vaughan	director	5655 SOUTH YOSEMITE STREET, SUITE 200, GREENWOOD VILLAGE CO 80111
James A Richardson	officer: Chief Financial Officer	228 WALMER ROAD, TORONTO A6 M5R 3R7
Hull Consulting Services Ltd.	officer: Chief Operation Officer	5511 WICKLOW DRIVE, OTTAWA A6 K4M 1C4
David Robert Mcpherson	director	75 OCTOBER DRIVE, ST CATHERINES A6 Z2N 6J4
Robert David Russell	director	5655 SOUTH YOSEMITE STREET, SUITE 200, GREENWOOD VILLAGE CO 80111
Rodney Alan Blakestad	director	1602 W. PLACITA SIN NIEVE, SAHUARITA AZ 85629
Gerald G Carlson	director
Robert Angrisano	director, 10 percent owner, officer: President
Monty D Moore	director, 10 percent owner, officer: Chairman & CEO
Edward H Waale	director
Michael W Sharon	director
Stuart Havenstrite	director	8111 MASO DRIVE, SANDY UT 84093
Nevada Star Resource Corp	director	161 BAY STREET, 27TH FLOOR, PO BOX 508, TORONTO A6 M5J 2S1

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