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
American West Metals Limited is an Australia-based mineral exploration company based in the United States and Canada. The Company is focused on developing the advanced zinc-copper-indium deposit at West Desert, Utah, as well as exploration across the broader project area. The Company’s projects include West Desert, Storm, Seal and Copper Warrior. The West Desert project is located in west-central Utah, approximately 160 kilometers (km) southwest of Salt Lake City. The Storm and Seal Project (Nunavut Projects) are located in the northern part of Nunavut, a territory of Canada. The area is within the Polaris mineral district and approximately 122 km south of the regional community and logistics hub of Resolute Bay. The combined area of the Nunavut Projects encompasses a regionally land package of 4,145 square kilometers (km2) on the uninhabited Somerset Island. The Copper Warrior Project is located approximately 45 km south of Moab, Utah, within the Paradox Basin.
AW1 - American West Metals Ltd
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