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
Eastern Resources Limited is an Australia-based minerals explorer. The Company is engaged in the exploration of iron ore, lithium and base metal resources. Its projects include Nowa Nowa Iron, Nowa Nowa Copper, Trigg Hill and Taylor Lookout. The Nowa Nowa Iron Project (Five Mile Deposit) is located approximately seven kilometers (km) north of the township of Nowa Nowa, Victoria and is some 320 km by road east of Melbourne and approximately 234 km by road west of the Port of Eden. The Nowa Nowa Copper Project tenement (EL 006183) is located in Eastern Victoria, 270 km east of Melbourne and over eight km north of the township of Nowa Nowa. The Trigg Hill Project (ELA 45/5728) is located in East Pilbara, Western Australia and approximately 75 km SE of Pilbara Minerals Ltd’s Pilgangoora Lithium mine and over 77 km SE of the Wodgina Lithium and Tantum mine. The Taylor Lookout Project is located approximately 80 km southwest of Halls Creek in the Kimberley region, Western Australia.
EFE - Eastern Resources Ltd
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