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
Iconic Minerals Ltd. is a Canada-based company, which is engaged in the acquisition and exploration of exploration and evaluation assets. The Company has various lithium and gold exploration projects in Nevada, United States. The Company’s Smith Creek Lithium Property covers approximately 808 placer claims totaling 25.25 square miles (65.4 km2) over a gravity low. The enclosed Smith Creek Valley Basin covers 582 square miles (1,507 km2), which is slightly larger than Clayton Valley Basin where lithium brines are produced. The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Its New Pass Gold Property is located in Eastern Churchill County, Nevada. The New Pass Gold Property is comprised of 107 mining claims. Its Midas South Gold Property is situated between Ivanhoe mine and Midas mine along the Carlin Trend. The Midas South Gold Property is located along Nevada’s gold belt-the Carlin Trend.
ICM - Iconic Minerals Ltd
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