Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
True North Gems Inc. is a Canada-based company. The Company is engaged in the exploration and development of colored gemstone properties in Canada. The Company intends to pursue business development opportunities in the resource sector. The Company’s properties include True Blue, Chuchinka, Cobalt Hill and Cyr-Kapiwak Lithium. The True Blue property comprises over 303 claims, which is situated approximately 55 kilometers (kms) south of Ross River, Yukon. The Chuchinka Property, which is situated over five kms east of Castlegar in southeastern British Columbia covering across 562.5186 hectares (ha). The Gold-Copper-Cobalt property is situated in south central British Columbia, around five kms east of Castlegar in southeastern British Columbia covering over 421.4467 ha. The Cyr-Kapiwak Lithium Property, which consists of around 42 mineral claims covering around 2,220.02 ha, is situated in the James Bay area of Quebec. The Company’s subsidiary is Laval Critical elements Inc.
TGX - True North Gems Inc
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