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
Wescan Goldfields Inc. is a Canada-based mineral exploration company based in Saskatchewan. The Company is focused on the exploration of its current portfolio of gold properties and the acquisition of new exploration targets. Its properties include Fork Lake property, Jojay gold property, and Munro Lake gold property. The Fork Lake property is located in the greenstone belt of northern Saskatchewan. The Fork Lake property covers an area of approximately 6,513 hectares (ha). The Jojay gold property is an advanced stage gold exploration project is an advanced stage gold exploration project. The Munro Lake gold property (Munro Lake) is located seven kilometers (km) from the Seabee gold mine in Northeastern Saskatchewan. The Company holds a 100% interest in Munro Lake. The Munro Lake gold property covers 2,480 ha situated about 130 kilometers northeast of La Ronge, Saskatchewan.
WGF - Wescan Goldfields Inc
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