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
Geomega Resources Inc. is a Canada-based company. The Company is engaged in the acquisition, exploration and evaluation of mining properties in Canada. The Company’s wholly owned subsidiary Innord Inc, which is engaged in developing technologies for extraction and separation of rare earth elements and other critical and strategic metals from its mining properties and other mining and industrial waste. The Company owns Montviel property, which is located approximately 100 km north of Lebel-sur-Quevillon and 45 km west of the Cree First Nation of Waswanipi. The Montviel property comprises 96 mining claims totalling 5,333 hectares. The project is comprised of 178 cells, for a total of approximately 9,910 hectares.
GMA - Geomega Resources Inc
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