Is Discovery Mining (DSV) halal?
Discovery Mining Ltd. (TSX: DSV) — formerly Discovery Silver Corp. — is a Canadian precious-and-base-metals miner reporting no debt and lease liabilities of only about US$9 million against a roughly C$9.9 billion market cap.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — no haram lines identified
Discovery Mining Ltd. (renamed from Discovery Silver Corp. effective June 29, 2026; TSX ticker DSV unchanged) is a Canadian-based precious-and-base-metals company engaged in the exploration, development, mining, and processing of gold and base metals, per Note 1 of the Q2 2026 statements. Its operations include the Porcupine Complex (Hoyle Pond, Pamour, Hollinger, Dome) and Kidd Operations (Kidd Creek mine and metallurgical site, acquired June 2026) near Timmins, Ontario, plus the Cordero silver exploration project in Chihuahua, Mexico. The reviewed Q2 2026 filings identify no weapons, alcohol, gambling, conventional finance, tobacco, pork, or adult-entertainment segment.
Gate two: the ratios — both ceilings clear with wide margins
As at June 30, 2026 (unaudited Q2 2026 statements, in US$ thousands): nil current or long-term debt — the balance sheet shows no debt lines and the Q2 press release states the company ended the quarter with no debt; the revolving credit facility (undrawn; US$6.5 million of letters of credit) was amended post-quarter to US$400 million. Lease liabilities total US$9.202 million (disclosed inside other liabilities, Note 12) — about C$13.1 million at the Bank of Canada's June 30, 2026 rate of C$1.4210 per US dollar. Cash and cash equivalents were US$364.294 million. With 813,894,000 shares at the September 29, 2026 quote of C$12.20, market cap is about C$9.93 billion, so debt-to-market-cap is about 0.1% — far under the ~33% ceiling. Interest income on bank deposits (Note 19) was US$2.586 million in Q2 2026 against revenue of US$319.094 million — about 0.8%, under the ~5% ceiling. Note the company also records US$7.813 million of interest expense and US$8.840 million of accretion expense; deferred consideration of US$106.883 million is acquisition consideration, not labelled debt.
What other screeners say
We could not verify any current rating for DSV/Discovery Mining from Zoya, Musaffa, or ShariaPortfolio in public sources. Zoya’s indexed DSV pages refer to DSV A/S (a Danish company with tickers DSDVY/DSDVF) — a different company; Musaffa and ShariaPortfolio showed no coverage of Discovery Mining. Our screener is independent and based on the company’s Q2 2026 interim financial statements and MD&A.
The bottom line
This screener gives Discovery Mining Ltd. (TSX: DSV) a PASS. Precious-and-base-metals mining has no verified haram lines, the company reports no debt (lease liabilities of about US$9.2M run about 0.1% of market cap), and interest income was about 0.8% of revenue in Q2 2026 — cleanly under both AAOIFI-style ceilings. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
Sources
Frequently asked questions
Is Discovery Mining stock halal?
This screener gives Discovery Mining Ltd. (TSX: DSV) a PASS. The Canadian precious-and-base-metals company — formerly Discovery Silver Corp., renamed effective June 29, 2026 — has no haram business lines in its Q2 2026 filings, reports no current or long-term debt, and its interest income on bank deposits was about 0.8% of revenue in Q2 2026 — under both AAOIFI-style ceilings.
What are Discovery Mining's debt and market-cap figures?
As at June 30, 2026 (Q2 2026): nil current or long-term debt — the company states it ended the quarter with no debt, and its US$400 million revolving credit facility was undrawn (letters of credit only). Lease liabilities total US$9.202 million, or about C$13.1 million at the Bank of Canada's June 30, 2026 rate of C$1.4210 per US dollar. Cash and cash equivalents were US$364.3 million. Market cap is about C$9.93 billion (C$12.20 (September 29, 2026 quote) × 813,894,000 shares). Debt-to-market-cap is about 0.1% — well under the ~33% ceiling.
How much interest income does Discovery Mining earn?
In Q2 2026 (three months ended June 30, 2026), Discovery Mining disclosed interest income on bank deposits of US$2.586 million (Note 19) against revenue of US$319.094 million — about 0.8%, under the roughly 5% ceiling for non-compliant income.
What does Discovery Mining do?
Discovery Mining Ltd. — Discovery Silver Corp. until a name change effective June 29, 2026 (ticker DSV unchanged) — is a Canadian-based company engaged in the exploration, development, mining, and processing of gold and base metals. Its assets include the Porcupine Complex gold mines and the Kidd copper-zinc-silver operations near Timmins, Ontario (Kidd acquired June 2026), plus the Cordero silver project in Mexico. The filings disclose no weapons, alcohol, gambling, conventional finance, tobacco, pork, or adult-entertainment lines.
What do Zoya, Musaffa, and ShariaPortfolio say about DSV?
We could not verify any current rating for DSV/Discovery Mining from Zoya, Musaffa, or ShariaPortfolio in public sources — Zoya's indexed DSV pages refer to a different Danish company (DSV A/S). Our screener is independent and based on the company's Q2 2026 interim financial statements and MD&A.