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
Maritime Resources Corp. is a Canada-based junior gold and base metals exploration company. The Company is focused on re-starting the past, producing Hammerdown Gold Mine located near the Baie Verte mining district in Newfoundland and Labrador, Canada, as well as exploration on its other properties in the region. The Company holds a 100% direct interest, subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property in Newfoundland and Labrador. This includes the former Hammerdown gold mine, the Orion gold project, and the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King’s Point. Green Bay property encompasses 98 square kilometers (22,216 acres) held under 34 individual mineral licenses. It also owns the Point Rousse project and the gold processing circuit at the Nugget Pond mill, both near the town of Baie Verte. In Quebec, the Company owns the Lac Pelletier gold project near the city of Rouyn Noranda.
MAE - Maritime Resources Corp
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