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
Grid Metals Corp. is a Canada-based exploration and development company. The Company is focused on both lithium and nickel-copper-platinum group metals in the Bird River area, approximately 150 kilometers (km) northeast of Winnipeg, Manitoba. It controls two lithium properties: Donner Lake and Falcon West. The 75% owned Donner Lake Property is situated 35 kilometers (km) north of the producing Tanco mine, one of only two lithium-producing mines in Canada. The Falcon West project covers 61,200 ha with 70 km of strike length along a prospective contact zone. Its Makwa Mayville Project is located in the Bird River Greenstone Belt approximately 145 km from Winnipeg, Manitoba. The project consists of two open pit NI 43-101 resources containing nickel, copper, platinum group metals and cobalt mineralization. Its East Bull Lake (EBL) palladium property covers 80% of the prospective EBL intrusion. Its Mayville PGE Zone is located approximately one km southeast of the Mayville Deposit.
GRDM - Grid Metals Corp
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