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
Imagine Lithium Inc. is a Canada-based junior mining exploration company. The Company is focused on seeking and acquiring mineral projects. The Company holds the Jackpot Lithium property, located in the Georgia Lake Area about 140 kilometers (km) NNE of Thunder Bay, Ontario, situated approximately 14 km by road from the TransCanada Highway (Hwy 11) and approximately 50 km from the town of Nipigon, on Lake Superior. The property contains two historical resources. It contains known pegmatite, including two historical resources of two million tons grading 1.09% lithium oxide (Li2O) and 750,000 tons at 1.38% Li2O.
ILI - Imagine Lithium Inc
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