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
Globex Mining Enterprises Inc. is a Canada-based exploration and development property bank, which operates under the project generator business model. The Company is focused on creating shareholder value by acquiring mineral properties, undertaking limited exploration and therefore readying them for optioning, joint venturing, or outright sale. The Company’s mineral portfolio consists of approximately 232 early to mid-stage exploration, development and royalty properties, which contain base metals (copper, nickel, zinc, lead), precious metals (gold, silver, platinum, palladium), specialty metals and minerals (manganese, vanadium, titanium dioxide, iron, molybdenum, lithium, cobalt, scandium, antimony, rare earths and associated elements) and industrial minerals (mica, silica, potassic feldspar, pyrophyllite and kaolin). The Company properties include Timmins Talc-Magnesite, Laguerre-Knutson, Courville, Eagle-Northwest, Lac Fortune Gold Mine and Wrightbar Gold Mine, among others.
GMX - Globex Mining Enterprises Inc
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