Is Artemis Gold (ARTG) halal?
Artemis Gold (TSXV: ARTG) is a gold and silver producer — a permissible business — with total debt of about C$592.7 million, about 6.3% of its ~C$9.37 billion market cap, and finance income of about 0.22% of revenue. This screener is a PASS.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — permissible gold mining
Artemis Gold, based in Vancouver, BC, is a gold and silver producer operating the Blackwater Mine in central British Columbia (about 160 km southwest of Prince George) — its single reportable segment. First gold and silver pour was January 29, 2025, and commercial production was declared May 1, 2025; revenue comes from gold and silver sales at Blackwater. Q2 2026 was a record quarter: 74,063 oz produced, 78,126 oz sold, revenue of $433.6 million. No haram business segments were found, so the business gate passes. (Material subsequent event: on September 20, 2026, Artemis announced a definitive all-share agreement to acquire Vista Gold for ~US$427 million, adding the Mt Todd gold project in Australia; no new debt, closing expected Q1 2027.)
Gate two: the ratios — both ratios clear
At June 30, 2026 (Q2 2026 results, August 6, 2026): total debt of C$592.7 million, including leases — long-term debt of $444.4 million (the $450 million 5.625% senior unsecured notes issued February 3, 2026, net of transaction costs), current portion of $4.8 million, and lease liabilities of $143.6 million; the $700 million revolving credit facility was fully undrawn. With a market cap of about C$9.37 billion (C$38.77 per share on September 29, 2026), debt is about 6.3% of market cap — well under the ~33% ceiling. Finance income (interest income) of C$0.966 million is about 0.22% of Q2 2026 revenue of C$433.6 million — under the ~5% ceiling. Cash of C$178.9 million is about 1.9% of market cap. Artemis paid its inaugural quarterly dividend of $0.05 per share on September 9, 2026.
What other screeners say
No coverage pages for ARTG were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026.
The bottom line
This screener gives Artemis Gold (TSXV: ARTG) a PASS. A permissible gold-producing business with debt at about 6.3% of market cap and finance income at about 0.22% of revenue. Note the pending all-share acquisition of Vista Gold (announced September 20, 2026) — re-check after closing. Consult a qualified scholar. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
Sources
- Q2 2026 results press release (Artemis Gold, August 6, 2026)
- Artemis–Vista Gold acquisition (announced September 20, 2026)
Frequently asked questions
Is Artemis Gold halal?
This screener gives it a PASS. Artemis Gold (TSXV: ARTG) is a gold and silver producer — a permissible business — with total debt of about C$592.7 million, about 6.3% of its market cap of about C$9.37 billion (under the ~33% ceiling), and finance income of about 0.22% of revenue (under the ~5% ceiling). Consult a qualified scholar.
Why does Artemis Gold pass the screener?
The business gate passes: Artemis is a gold and silver producer at the Blackwater Mine with no haram business segments. The ratio gate passes on both counts: at June 30, 2026, total debt of C$592.7 million (including leases; the $450 million 5.625% senior unsecured notes plus lease liabilities, with the $700 million revolving credit facility fully undrawn) against a market cap of about C$9.37 billion is about 6.3% — well under the ~33% ceiling. Finance income of C$0.966 million is about 0.22% of Q2 2026 revenue of C$433.6 million — under the ~5% ceiling.
What are Artemis Gold’s debt and market-cap figures?
At June 30, 2026 (Q2 2026 results, August 6, 2026): total debt of C$592.7 million including leases — long-term debt of $444.4 million, current portion of $4.8 million, and lease liabilities of $143.6 million; the $700 million revolving credit facility was fully undrawn. Market cap is about C$9.37 billion (C$38.77 per share on September 29, 2026). Debt is about 6.3% of market cap; cash of C$178.9 million is about 1.9% of market cap.
What does Artemis Gold do?
Artemis Gold, based in Vancouver, BC, is a gold and silver producer operating the Blackwater Mine in central British Columbia — its single reportable segment. First gold and silver pour was January 29, 2025, and commercial production was declared May 1, 2025. On September 20, 2026, it announced a definitive all-share agreement to acquire Vista Gold for ~US$427 million, adding the Mt Todd gold project in Australia (no new debt; closing expected Q1 2027).
What do Zoya, Musaffa, and ShariaPortfolio say about ARTG?
No coverage pages for ARTG were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026.