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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
Essential Metals Limited is an Australia-based mining exploration company that operates lithium and gold projects in Western Australia (WA). The Company’s 100% owned and managed projects include Pioneer Dome LCT project, Juglah Dome project and Golden Ridge project. Pioneer Dome LCT project is located in the core of Western Australia’s lithium belt in the Eastern Goldfields, approximately 130 kilometer (km) south of Kalgoorlie and 275 kilometer north of the Port of Esperance. The Juglah Dome project is approximately 60 km east-southeast of Kalgoorlie and is prospective for gold and for VHMS style polymetallic deposits. The Golden Ridge Project is located approximately 20 km south-east of Kalgoorlie, Western Australia. The Company’s Joint venture interest includes Acra project Kangan project, Balagundi project, Larkinville project, Blair-Golden Ridge project and Wattle Dam project. The Company holds a 20% free-carried interest (nickel only) in the Wattle Dam project near Kambalda, WA.
