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
Australian Rare Earths Limited is an Australia-based mineral exploration and development company, which is focused on ionic clay hosted rare earths resource opportunities in South Australia and Victoria. The Company is engaged in the exploration and development of its flagship Koppamurra Project. It owns 100% of Koppamurra Project, which is located in South Australia and Victoria. The Company holds six exploration licenses (ELs), four covering the area between Comaum and Keith in South Australia and two cover the area between Apsley and Minimay in Western Victoria, Australia. The Company has granted South Australian EL’s 6509, EL6613, EL6690 and EL6691 and Victorian EL007254 and EL7719.
AR3 - Australian Rare Earths Ltd
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