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
Search Minerals Inc. is a Canada-based mineral exploration company that is focused on acquiring, exploring and evaluating mineral resource properties. The Company is also focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson St. Lewis CREE District of Southeast Labrador. Its projects include Deep Fox Resource, Foxtrot Resource, Fox Meadow Prospect, Silver Fox Prospect and Red Wine REE District. The Deep Fox Resource is located approximately two-kilometer (km) northeast of the port of St. Lewis on the southeast Labrador coast, within 12 km of the Foxtrot resource. The Fox Meadow Prospect is located approximately 11 km west of Port Hope Simpson and one km northwest of a gravel forest access road which extends southwestward from the Trans-Labrador Highway. The Silver Fox Prospect is located approximately 12 km west of St. Lewis and just two km west of the Foxtrot resource.
SMY - Search Minerals Inc
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