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Note on Purification and Zakat

  • 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

Burin Gold Corp. is a Canada-based junior gold exploration company. The Company is engaged in the identification, acquisition, evaluation, and exploration of mineral properties in the Avalonian terrane on the Burin Peninsula, in the southeastern part of the island of Newfoundland. Its Hickey’s Pond-Paradise Gold Project is a high-sulphidation gold system located in south-eastern Newfoundland on the Burin Peninsula. It has several mineral licenses, such as 025964M, 025965M, and 030955M. The 025964M license consist of approximately 256 claims. The 025965M license includes approximately 256 claims. The 030955M license includes approximately 12 claims .