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
White Cliff Minerals Limited is a mineral exploration company. The Company is focusing its exploration on its highly prospective Rare Earth Elements (REE) and lithium project portfolio in Western Australia. Its projects include Abraxis Lithium Project, Preston River Lithium Project, Yinnetharra Lithium Project, Diemals Lithium/REE Project, Hines Hill REE Project, Gardner Range REE Project, Reedy South Gold Project, Midas Copper/Gold Project, Coronation Dam Cobalt Project and Ghan Well Cobalt Project. The Abraxis Lithium Project covers an area of approximately 294 square kilometers, approximately 170 kilometers (km) south of Port Hedland and is accessible via the Great Northern Highway. The Hines Hill REE project consists of one tenement granted tenement (E70/5875) within the Yilgarn region, located 20 km west of Merredin and along the Great Eastern Highway. The Midas Copper-Gold Project consists of two wholly owned licenses, Table Top and Coolbro Creek on E45/5107 and E45/5112.
WCN - White Cliff Minerals Ltd
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