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
Technology Metals Australia Limited is an Australia-based mineral exploration company. The Company is principally engaged in the exploration and development of vanadium resources in Western Australia. The Company is focused on the exploration and development of its 100% owned flagship project, Murchison Technology Metals Project (MTMP), which is located 50 kilometers southeast of Meekatharra in the Mid-West of Western Australia. The MTMP comprises the Gabanintha and Yarrabubba vanadium deposits. The Gabanintha deposit contains over 5.5 kilometers strike length of high-grade mineralization within a layered gabbro. Yarrabubba is a satellite deposit of the MTMP and represents an opportunity to leverage higher vanadium production early in the mine’s development due to higher concentrate grades and an additional ilmenite by-product. Through its 100% owned subsidiary, vLYTE Pty Ltd (vLYTE), the Company is focused on the development of the vanadium flow battery industry in Australia.
TMT - Technology Metals Australia Ltd
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