Altai Resources Inc

ARSEF

Not Compliant
Exchange
Sector
Headquarters
Group
TSE
Energy
Canada
Micro cap

Altai Resources Inc is not Shariah Compliant because it fails the financial ratios.

48.14%

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0.00
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-10.73%
-109.23%
-11.72%
0.00
23.39
0.00%

Shariah Compliance

  • Updated on July 26, 2025
Debt
✓
Non-Compliant Assets
68.63%
✗
Impure Income
48.14%
✗

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
✓
Impure Income
48.14%
✗

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
✓
Impure Income
48.14%
✗

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
✓
Cash
28.11%
✓
Cash & AR
28.64%
✓
Impure Income
48.14%
✗

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
✓
Cash
28.11%
✓
Cash & AR
28.64%
✓
Impure Income
48.14%
✗

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
48.14%

Note on Purification and Zakat:

  • 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

Altai Resources Inc. is a Canada-based resource company with a producing oil property in Alberta, an exploration gold property in Quebec, and a Canadian investment portfolio comprised of cash, cash equivalents, and marketable securities. The Company’s properties include the 50%-owned Malartic gold property (named Blackcliff gold property by the property joint-venture partner and operator) in the Val d’Or area of Quebec, and the 50%-owned Cessford oil property in the Cessford area of southern Alberta. Its 50%-owned Malartic gold property consists of approximately six map designated claims (CDC) totaling 127.6 hectares (315 acres) in the Malartic Township, Val d’Or area, Quebec, approximately five kilometers (kms) north-east of the town of Malartic and the Canadian Malartic mine which is Canada’s largest gold mine. The Cessford oil property covers approximately 240 acres.

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