Canyon Resources Ltd








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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

Canyon Resources Limited is an Australia-based bauxite resource development and exploration company. The Company is focused on expediting the development of the Minim Martap Bauxite project in central Cameroon, through its in-country subsidiary, Camalco. The Company’s 100% owned Minim Martap Bauxite project is a global direct shipping ore (DSO) project development opportunity. The project is located in central Cameroon and situated near the main rail line linking the region to the Atlantic port of Douala. The project produces up to 6.4 metric tons of bauxite per annum. The Minim Martap Project comprises the Makan and Ngaoundal research permits and the Minim Martap permit. Its Birsok Bauxite Project includes Birsok, Mandoum, and Mambal. Its subsidiaries include Neufco Pty Ltd, Canyon West Africa Pty Ltd, Askia Sarl Pty Ltd, Canyon Derosa Pty Ltd, Canyon Cameroon Pty Ltd, Askia Minerals Sar, Canyon West Africa Sarl, and CSO Sarl.