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
Bannerman Energy Limited is an Australia-based uranium development company. The Company is focused on Etango Uranium Project located in the Erongo Region of Namibia, 30 kilometers (Km) south-east of Swakopmund. The Company holds uranium interests in Namibia. It possesses a uranium mineral resource endowment of approximately 207 Mlbs of contained U3O8. Etango is an undeveloped uranium deposit. The Company is focused on the development of an open pit uranium operation at Etango. The Etango tenements possess a uranium mineral resource. It has completed definitive feasibility study (DFS) and environmental permitting on the Etango Project. The Company constructed and operated a Heap Leach Demonstration Plant at Etango, which de-risked the acid heap leach process to be utilized on the Etango ore. Etango has de-risked through drilling, technical evaluation and operation of a process demonstration plant facility.
BMN - Bannerman Energy Ltd
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