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
New Age Metals Inc. is a Canada-based junior mineral exploration and development company. The Company is focused on the discovery, exploration and development of green metal projects in North America. It has two divisions: Platinum Group Element division and Lithium/Rare Element division. Platinum Group Element division includes the 100% owned, multi-million-ounce, district-scale River Valley Project, which is a North America’s undeveloped Platinum Group Element Projects, situated 100 kilometers by road east of Sudbury, Ontario. In addition to River Valley, the Company owns 100% of the Genesis PGE-Cu-Ni Project in Alaska. Lithium/Rare Element division is a mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements, such as tantalum, rubidium, and cesium. Its Lithium Project includes Lithium One, Lithman East, Lithman West, Lithman North, Lithium Two, Lithium East Extension and Cat Lake Lithium Project.
NAM - New Age Metals Inc
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