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
Cyclone Metals Limited is a mineral development and investment company. The Company has a diverse portfolio of mineral assets and interests in exploration companies providing exposure to copper, gold, iron ore, lithium, rare earths, uranium and lead-silver-zinc assets in Australia, Europe, Africa and South America. Its projects include Nickol River Gold, Wee MacGregor Copper, Marampa Iron Ore and Kukuna Iron Ore. Its Nickol River Gold project is located approximately 13 kilometers (km) east of Karratha in the Pilbara region of Western Australia. The Company holds tenure to four mining leases at the Wee MacGregor project located approximately 40 km southeast of Mt Isa in Queensland. Its Marampa Iron Ore project is at the development stage, located about 90 km northeast of Freetown, Sierra Leone, West Africa. It also owns Block 103 Magnetite Iron Ore project, which covers an area of 7,275 hectares and is located 30 km northwest of the mining town of Schefferville in Quebec.
CLE - Cyclone Metals Ltd
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