Canadian Halal Investor.

TSX Shariah screener · October 2026

Is GoldMining Inc. (GOLD) Halal?

FAIL

GoldMining Inc. · TSX: GOLD / NYSE American: GLDG · Materials

The short answer

No — GoldMining (GOLD) does not pass this Shariah stock screen. Its gold and gold-copper exploration business across the Americas has no prohibited lines and it carries zero interest-bearing debt (0.0% of its ~C$287.6M market cap — 214,594,168 shares at C$1.34, Oct 1, 2026), but as a pre-revenue explorer its only income was C$394k of interest income against zero operating revenue for the six months ended May 31, 2026, which fails the income gate per the pipeline's pre-revenue precedent. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) is a public mineral exploration company focused on the acquisition, exploration and development of gold and gold-copper projects in Brazil, Colombia, the United States, Canada and Peru (Q2 2026 interim financial statements, Note 1). Its portfolio includes resource-stage projects such as São Jorge (Brazil) and La Mina (Colombia), plus — through 74%-owned subsidiary U.S. GoldMining Inc. — the Whistler Gold-Copper Project in Alaska, alongside long-term investments including publicly traded securities. It is a pre-revenue explorer with zero operating revenue. None of the disclosed business lines are prohibited lines; pre-revenue exploration status is not a business-activity fail. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Interest-bearing debt at May 31, 2026 was C$0 — no bank debt, loans or debentures on the interim balance sheet, only accounts payable and accrued liabilities (C$1.9M), lease liabilities (C$0.25M), rehabilitation provisions (C$1.3M) and a deferred tax liability (C$9.9M); the company's mid-year 2026 shareholder update confirmed 'no debt'. Debt ÷ market cap is 0.0% against a market cap of roughly C$287.6M (214,594,168 shares at C$1.34, Oct 1, 2026), far below the ~33% ceiling. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: FAIL

GoldMining is a pre-revenue explorer: operating revenue was C$0 for the six months ended May 31, 2026, while interest income was C$394k — the company's only income. Per the established pipeline precedent for pre-revenue explorers with only interest income and no operating revenue (STLLR Gold, Faraday Copper, Arizona Metals), the non-compliant income ratio is not computable (null) and the income gate fails. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does GoldMining do?

GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) is a public mineral exploration company focused on the acquisition, exploration and development of gold and gold-copper projects in Brazil, Colombia, the United States, Canada and Peru, per Note 1 of its Q2 2026 interim financial statements. Its portfolio includes resource-stage projects such as São Jorge (Brazil) and La Mina (Colombia), plus — through 74%-owned subsidiary U.S. GoldMining Inc. — the Whistler Gold-Copper Project in Alaska, alongside long-term investments including publicly traded securities. It is a pre-revenue explorer with zero operating revenue. None of the disclosed business lines — gold and gold-copper mineral exploration and development — are prohibited lines, so the business gate passes.

Why does GoldMining fail this Shariah stock screen?

GoldMining fails on the income gate, not the business or debt gates. Its gold and gold-copper exploration business has no prohibited lines and it carries zero interest-bearing debt (0.0% of market cap, far under the ~33% ceiling). But as a pre-revenue explorer, its only income was C$394k of interest income against zero operating revenue for the six months ended May 31, 2026 — per this pipeline's established precedent for pre-revenue explorers (STLLR Gold, Faraday Copper, Arizona Metals), the income gate fails when there is no operating revenue to measure non-compliant income against. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is GoldMining's interest-bearing debt ratio?

At May 31, 2026, GoldMining reported no interest-bearing debt — no bank debt, loans or debentures on the interim balance sheet, only accounts payable and accrued liabilities (C$1.9M), lease liabilities (C$0.25M), rehabilitation provisions (C$1.3M) and a deferred tax liability (C$9.9M); the company's mid-year 2026 shareholder update confirmed 'no debt'. Against a market cap of roughly C$287.6M (214,594,168 shares at C$1.34, Oct 1, 2026), debt ÷ market cap is 0.0%, far below the ~33% ceiling. The debt gate passes.

What is GoldMining's non-compliant income ratio?

For the six months ended May 31, 2026, GoldMining reported interest income of C$394k against total operating revenue of C$0. Because there is no operating revenue, the non-compliant income ratio cannot be computed — it is recorded as null. Per the established pipeline precedent for pre-revenue explorers with only interest income and no operating revenue (STLLR Gold, Faraday Copper, Arizona Metals), the income gate fails in this case.

Do Zoya, Musaffa, or ShariaPortfolio cover GoldMining?

No coverage of GoldMining (TSX: GOLD / NYSE American: GLDG) was found on Zoya, Musaffa, or ShariaPortfolio — honestly reported as absent, not invented. This page applies the screen directly from the company's filings: the condensed consolidated interim financial statements for the three and six months ended May 31, 2026 (authorized by the Board July 14, 2026) and the mid-year 2026 shareholder update.

Sources

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).