Outback Goldfields Corp

OZ.CA

Compliant
Exchange
Sector
Headquarters
Group
Toronto Venture Exchange
Basic Materials
Canada
Micro cap

Outback Goldfields Corp is Shariah Compliant. It passes 5/5 Shariah standards we screen against.

3.63%

Impure Income*

-

Purification*

$0.007

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
$0
$0
$0
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
0%
0%
0%
9.25
9.25
0%

Shariah Compliance

  • Updated on September 12, 2024
Debt
✓
Non-Compliant Assets
Impure Income
3.63%
✓

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
3.63%
✓

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
3.63%
✓

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
2.33%
✓
Cash & AR
2.33%
✓
Impure Income
3.63%
✓

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
2.33%
✓
Cash & AR
2.33%
✓
Impure Income
3.63%
✓

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
3.63%

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

Outback Goldfields Corp. is a Canada-based mineral exploration company. The Company is engaged in exploring its package of prospective gold projects located around the Fosterville Gold Mine in Victoria, Australia. Its projects include Yeungroon Project, Glenfine Project, Ballarat West Project, and Silver Spoon Project. The Yeungroon Project comprises of approximately 698 square kilometers (km2) and covers a portion of the Wedderburn Goldfield (140 Keystone Opportunity Zone (Koz) gold (Au) production). The Glenfine Project is an advanced 96 km2 exploration project with documented Ballarat style reef Au and Stawell style basalt contact Au mineralization. The Ballarat 448 km2 hectare West Project is adjacent to Ballarat, Clunes and Creswick goldfields and includes approximately 600 Koz of historic alluvial production. The Silver Spoon Project is adjacent to Kirkland Lake, Newmont, and Large Auction Block and is located approximately 20 kilometers east of Agnico Eagle’s Fosterville Mine.

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