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
Midland Exploration Inc. is a Canada-based company, which is engaged in the mining exploration business. The Company’s operations include the acquisition and exploration of mining properties. Its projects include Corvette, Chisaayuu, Mythril East, Galinee, Komo, Mythril and Elrond, Lasalle, Tete Nord, Nunavik Nickel, La Peltrie, Patris and others. The Galinee Project is located over four kilometers (km) directly east of Adina. The Komo Project is located approximately 20 km west of the James Bay lithium deposit. The Tete Nord is located in Grenville. This program included a total of 16 drill holes totaling 3,450 meters. The Mythril East claim block is located seven km northeast and directly on strike with the Corvette pegmatite field. The Lasalle project is located in the James Bay territory and consists of 39 claims. The Casault property is located about 40 km to the east of the Detour Lake gold project located north of the city of La Sarre, Abitibi.
MD - Midland Exploration Inc
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