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
Newrange Gold Corp. is a Canada-based exploration stage company. The Company is engaged in acquiring and exploring mineral properties in the United States and Canada. The Company is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The Company’s projects include North Birch Gold and Argosy Gold Mine. The North Birch project is comprised approximately 3,850 hectares and lies in the northwestern corner of the Birch-Uchi Greenstone Belt in the Red Lake Mining Division of northwestern Ontario, roughly 110 kilometers northeast of the town of Red Lake. The Pamlico Gold project is located in Nevada, United States. The Argosy Gold Mine project is located in the northern part of the Birch-Uchi Greenstone Belt of the Superior Province of the Precambrian Shield. The property consists of approximately 44 patented claims and 17 mining licenses of occupation comprising 604 hectares.
NRG - Newrange Gold Corp
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