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
Highbank Resources Ltd. is a Canada-based mining exploration company. The Company is primarily engaged in the development of an aggregate resource property in northwest British Columbia, and exploration of a polymetallic prospect in Newfoundland. Its properties include Swamp Point North, Terra Nova, and Highland Valley. The Company owns a 100% interest in the Swamp Point North project, which is approximately 115 kilometers (kms) (72 miles) north of the Port of Prince Rupert and approximately 50 kms south of the Port of Stewart situated along the Portland Canal in northwestern British Columbia. The project has NI 43-101 complaints, measured and indicated across 71,712,043 tons. It owns an 80% interest in the Terra Nova Property consisting of approximately 71 claims, which is situated 30 km northwest of Port Blandford in central Newfoundland. The project hosts mesothermal gold-polymetallic (Gold, Silver, Copper and Wolfram) deposits. The property lies within the Gander Zone.
HBK - Highbank Resources Ltd
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