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
Forrestania Resources Limited is an Australia-based exploration company. The Company is engaged in searching for lithium, gold and nickel in the Forrestania, Southern Cross and the Leonora/Eastern Goldfields regions of Western Australia. The Company’s projects include Forrestania, Southern Cross and Leonora. The project is situated in the southern Forrestania Greenstone Belt, with a tenement footprint spanning approximately 100 kilometers (km), the emerging Kat Gap gold deposit, the operating Flying Fox, and Spotted Quoll nickel mines, and other discovered Mt Holland lithium projects. The Southern Cross Project is comprised of 5 tenements: one exploration license, three exploration license applications, two prospecting licenses and one mining license, covering approximately 144.28 square kilometers (km2). The Leonora Project includes one exploration license and 5 exploration license applications, covering a total of approximately 853.5 km2.
FRS - Forrestania Resources Ltd
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