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
Mount Burgess Mining N.L. is an Australia-based company that focuses on mineral exploration. The Company is focused on exploring for and in the event of discovering, developing commercial deposits of mineral resources. The Company’s Kihabe Nxuu Zinc/Lead/Silver/Germanium and Vanadium Project is located in Western Ngami land, Botswana, on the border with Namibia, about 700 kilometers northwest of the capital Gaborone. The project is 350 kilometers (kms) by road from Maun, Botswana. The Company has two deposits, such as the Kihabe and Nxuu deposits. Both the Kihabe and Nxuu deposits contain credits of Germanium and Vanadium mineralization. Kihabe deposit covers a strike length of 2.4 kms, with two proposed open-cut pits covering a total strike length of 1.8 km, containing approximately 14.4 million tons of resources. The Nxuu deposit covers an area of approximately 550 meters by 250 meters with a total estimated depth of 60 meters, containing approximately 10.9 million tons of resources.
MTB - Mount Burgess Mining NL
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