TSX Shariah screener · October 2026
Is Amex Gold Mining Inc. (AMX) Halal?
Amex Gold Mining Inc. · TSXV: AMX · Materials
The short answer
No — Amex Gold Mining (AMX) fails this Shariah stock screen. Its gold development business (the 100%-owned Perron Gold Project, Québec) is permissible and it has no bank debt, but interest income of C$236,958 in Q1 2026 (3 months ended March 31, 2026) was the company's only income — it is pre-revenue — far above the 5% non-compliant income limit. Renamed from Amex Exploration Inc. effective July 3, 2026; ticker unchanged. (The Q1 2026 filing was used because Q2 2026 figures could not be verified; the FAIL stands regardless — the company remains pre-production.) No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
Amex Gold Mining Inc. (TSXV:AMX) is a gold developer advancing the 100%-owned Perron Gold Project in Québec; its financial statements state it has not yet generated income nor cash flows from its operations. Renamed from Amex Exploration Inc. effective July 3, 2026; the AMX ticker is unchanged. No alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
There is no bank debt — total liabilities were C$29,166,456 (March 31, 2026) — debt ÷ market cap is about 0% against a market cap of roughly C$646.14M (C$4.22, October 1, 2026), well under the ~33% ceiling. Cash of C$15.59M plus C$10M guaranteed investment certificates = C$25.59M, about 4.0% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL
The Q1 2026 interim financial statements (3 months ended March 31, 2026) disclose a separate interest-income line of C$236,958, while the company is pre-revenue with nil sales. Interest is effectively 100% of the company's income, far above the 5% non-compliant income limit. Gate 3 fails. Facts only.
Key figures used
- Interest income: C$236,958 (Q1 2026, 3 months ended Mar 31, 2026) — separately disclosed; revenue nil (pre-revenue)
- No bank debt (total liabilities C$29,166,456 at Mar 31, 2026) ≈ 0% of market cap
- Market cap: ~C$646.14M (C$4.22, Oct 1, 2026); cash C$15.59M + C$10M GICs = C$25.59M ≈ 4.0%
- Renamed from Amex Exploration Inc. effective Jul 3, 2026; AMX ticker unchanged
- Business: gold development (100%-owned Perron Gold Project, Québec) — no haram segments
- Note: Q1 2026 filing used because Q2 2026 figures could not be verified; FAIL stands regardless (still pre-production)
Frequently asked questions
Is Amex Gold Mining (AMX) halal?
No. Amex Gold Mining fails this Shariah stock screen. Its gold development business (the 100%-owned Perron Gold Project, Québec) is permissible and it has no bank debt, but interest income of C$236,958 in Q1 2026 (3 months ended March 31, 2026) was the company's only income — it is pre-revenue — far above the 5% limit for non-compliant income. Renamed from Amex Exploration Inc. effective July 3, 2026; ticker unchanged. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Amex Gold Mining's debt-to-market-cap ratio?
About 0%. There is no bank debt (total liabilities were C$29,166,456 at March 31, 2026), against a market cap of roughly C$646.14M (C$4.22, October 1, 2026) — well under the ~33% ceiling.
What does Amex Gold Mining do?
Amex Gold Mining Inc. (TSXV:AMX) is a gold developer advancing the 100%-owned Perron Gold Project in Québec; its financial statements state it has not yet generated income nor cash flows from its operations. Renamed from Amex Exploration Inc. effective July 3, 2026; the AMX ticker is unchanged.
How much interest income does Amex Gold Mining earn relative to revenue?
The Q1 2026 interim financial statements (3 months ended March 31, 2026) disclose a separate interest-income line of C$236,958, while the company is pre-revenue with nil sales. Interest is effectively 100% of the company's income, far above the 5% ceiling.
Where can I find more materials stock screeners?
See halal-stock-verdicts.html for the full list of stock screeners, including the other materials-sector entries.
Sources
- Amex Gold Mining — Q1 2026 interim financial statements (3 months ended Mar 31, 2026): C$236,958 interest income; nil revenue
- Finnhub — AMX.V quote (C$4.22, Oct 1, 2026)
Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.