TSX Shariah screener · October 2026

Is Liberty Gold Corp. (LGD) Halal?

FAIL

Liberty Gold Corp. · TSX: LGD · Materials

The short answer

No — Liberty Gold (LGD) fails this Shariah stock screen. Its gold development business (Black Pine, Goldstrike) is permissible and its debt is negligible, but separately disclosed 'Finance income on the Orta Truva and Goldstrike Transactions' of ($743,596) for the 6 months ended June 30, 2026 was the company's only income — it has nil operating revenue (Q2 2026's $43.0M 'income' was asset-sale gains, not 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

Liberty Gold Corp. (TSX:LGD) is a pre-revenue gold developer (Black Pine, Goldstrike); Centerra Gold maintains a 9.9% strategic investment. 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 US$7.012M — about 0.8% of the ~C$1,139.76M market cap (C$2.07, October 1, 2026), well under the ~33% ceiling. Cash of US$36.543M is about 4.4% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: FAIL

The Q2 2026 financial statements disclose a separate 'Finance income on the Orta Truva and Goldstrike Transactions (Note 6)' line of ($743,596) for the 6 months ended June 30, 2026, while the company has nil operating revenue — Q2 2026's $43.0M 'income' was asset-sale gains ($48.96M Goldstrike + $2.68M Gage), not revenue. Finance income is effectively 100% of the company's income, far above the 5% non-compliant income limit. Gate 3 fails. Facts only.

Key figures used

Finance income: ($743,596) for 6 months ended Jun 30, 2026 — 'Finance income on the Orta Truva and Goldstrike Transactions (Note 6)', separately disclosed; nil operating revenue
Q2 2026's $43.0M 'income' was asset-sale gains ($48.96M Goldstrike + $2.68M Gage), not revenue
Total liabilities: US$7.012M ≈ 0.8% of market cap; cash US$36.543M ≈ 4.4%
Market cap: ~C$1,139.76M (C$2.07, Oct 1, 2026)
Business: gold development (Black Pine, Goldstrike); Centerra Gold 9.9% strategic investment — no haram segments

Frequently asked questions

Is Liberty Gold (LGD) halal?

No. Liberty Gold fails this Shariah stock screen. Its gold development business (Black Pine, Goldstrike) is permissible and its debt is negligible, but separately disclosed 'Finance income on the Orta Truva and Goldstrike Transactions' of ($743,596) for the 6 months ended June 30, 2026 was the company's only income — it has nil operating revenue (Q2 2026's $43.0M 'income' was asset-sale gains, not 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 Liberty Gold's debt-to-market-cap ratio?

About 0.8%. Total liabilities at June 30, 2026 were US$7.012M, against a market cap of roughly C$1,139.76M (C$2.07, October 1, 2026) — well under the ~33% ceiling.

What does Liberty Gold do?

Liberty Gold Corp. (TSX:LGD) is a pre-revenue gold developer (Black Pine, Goldstrike); Centerra Gold maintains a 9.9% strategic investment.

How much finance income does Liberty Gold earn relative to revenue?

The Q2 2026 financial statements disclose a separate 'Finance income on the Orta Truva and Goldstrike Transactions (Note 6)' line of ($743,596) for the 6 months ended June 30, 2026, while the company has nil operating revenue. Finance income 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

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.