TSX Shariah screener · October 2026
Is Faraday Copper Corp. (FDY) Halal?
Faraday Copper Corp. · TSX: FDY · Materials
The short answer
No — Faraday Copper (FDY) fails this Shariah stock screen. Its Copper Creek copper development business is permissible and its liabilities are negligible, but interest income of C$798,924 in Q2 2026 (C$1,374,013 in H1 2026) was the company's only income — it is pre-revenue — far above the 5% non-compliant income limit. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
Faraday Copper Corp. (TSX:FDY, also listed on OTCQX as CPPKF) is a pre-revenue developer whose principal business is the acquisition and development of resource properties — principally the Copper Creek copper project in Arizona. 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
Total liabilities at June 30, 2026 were C$8.006M (accounts payable, amounts due to related parties, and a decommissioning provision — no interest-bearing loans or credit facilities disclosed) — debt ÷ market cap is about 0.5% against a market cap of roughly C$1.59B (294,324K shares, October 1, 2026), well under the ~33% ceiling. Cash and term deposits of ~C$126.2M are about 8% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL
The Q2 2026 financial statements (approved August 7, 2026; filed on SEDAR+) disclose a separate interest-income line of C$798,924 for the quarter (H1 2026: C$1,374,013), while the company is an exploration-stage company that "does not generate any revenue" — 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$798,924 (Q2 2026) / C$1,374,013 (H1 2026) — separately disclosed; revenue nil (pre-revenue)
- Total liabilities: C$8.006M at Jun 30, 2026 (no interest-bearing debt disclosed); debt ÷ market cap ≈ 0.5%
- Market cap: ~C$1.59B (294,324K shares, Oct 1, 2026); cash + term deposits ~C$126.2M ≈ 8%
- Asset: Copper Creek copper project (Arizona) — no haram segments
- Also listed on OTCQX as CPPKF
Frequently asked questions
Is Faraday Copper (FDY) halal?
No. Faraday Copper fails this Shariah stock screen. Its Copper Creek copper development business is permissible and its liabilities are negligible, but interest income of C$798,924 in Q2 2026 (C$1,374,013 in H1 2026) was the company's only income — it is pre-revenue — far above the 5% limit for non-compliant income. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Faraday Copper's debt-to-market-cap ratio?
About 0.5%. Total liabilities at June 30, 2026 were C$8.006M (payables, related-party amounts, and a decommissioning provision — no interest-bearing loans disclosed), against a market cap of roughly C$1.59B (294,324K shares, October 1, 2026) — well under the ~33% ceiling.
What does Faraday Copper do?
Faraday Copper Corp. (TSX:FDY, also listed on OTCQX as CPPKF) is a pre-revenue developer whose principal business is the acquisition and development of resource properties, principally the Copper Creek copper project in Arizona.
How much interest income does Faraday Copper earn relative to revenue?
The Q2 2026 financial statements disclose a separate interest-income line of C$798,924 (H1 2026: C$1,374,013), while the company is an exploration-stage company that does not generate any revenue. 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
- Faraday Copper — Q2 2026 condensed interim financial statements (approved Aug 7, 2026): C$798,924 Q2 interest income; C$8.006M total liabilities; nil revenue
- Faraday Copper — Q2 2026 MD&A (filed on SEDAR+): nil revenue; $94.2M cash, $32.0M term deposits; Copper Creek Arizona project
- MarketBeat — FDY quote (294,324,000 shares; ~C$1.59B market cap, 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.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).