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
Magnum Goldcorp Inc. is a Canada-based company, which is engaged in the acquisition and exploration of mineral resource properties. The Company is engaged in the development of the LH gold property. The LH gold property is located east of Slocan Lake approximately seven kilometers (km) south of the village of Silverton, in the Slocan Mining Division of southeastern British Columbia. The LH Property is a gold exploration property consisting of 19 contiguous crown-granted claims and seven mineral claims. The Company owns a 100% interest in LH Property.
MGI - Magnum Goldcorp Inc
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