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
Armada Metals Limited (Armada) is an Australia-based company, which is engaged in exploring nickel and copper in Africa. The Company’s Nyanga Project is a belt scale, multi-project opportunity covering an area of approximately 2,725 square kilometers (km2) along the Congo Craton margin. The two exploration licenses held by Armada are located in the southeast of the country in the Nyanga Province, southern Gabon. The Nyanga Project extends for more than 75 kilometers (km) within its two tenements, within which multiple mafic-ultramafic intrusions have been identified, principally along two trends, the Libonga Matchiti Trend (LMT) and the Ngongo-Yoyo Trend (NYT). The Nyanga Project’s deposits include the Munali Hills deposit, Selebi Phikwe deposit, Kabanga deposit and N’komati deposit. The Company holds 100% of the Nyanga Project.
AMM - Armada Metals Ltd
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