TSX Shariah screener · October 2026
Is Metalla Royalty & Streaming Ltd. (MTA) Halal?
Metalla Royalty & Streaming Ltd. · TSXV: MTA · Materials
The short answer
Metalla Royalty & Streaming Ltd. (TSXV: MTA) is a PASS in our October 2026 screen. The business gate passes: the company acquires and manages gold, silver, and copper royalties and streaming interests on third-party mines — a permissible segment. The debt gate passes: US$12.3M drawn under its US$40M revolving credit facility at June 30, 2026 converts to ~C$17.5M at ~1.42 USD/CAD — about 1.4% of the ~C$1.27B market cap, far under the ~33% ceiling. The income gate passes: H1 2026 other income of US$336K is ~4.1% of US$8.288M royalty revenue, under the 5% ceiling, with no interest income disclosed.
Gate 1 — Business activity: PASS
Metalla Royalty & Streaming Ltd., headquartered in Vancouver, is a precious metals royalty and streaming company: it acquires and manages gold, silver, and copper royalties, streams, and similar production-based interests on third-party mines (Q2 2026 interim financial statements, Note 1). Mining royalty/streaming finance is a permissible segment. Gate 1 passes.
Gate 2 — Debt and cash: PASS
Interest-bearing debt was US$12.3M at June 30, 2026 — the drawn amount on the US$40M revolving credit facility with Bank of Montreal and National Bank Financial (plus a US$35M accordion option; matures June 24, 2028) — converts to ~C$17.5M at ~1.42 USD/CAD, about 1.4% of the ~C$1.27B market cap (Finnhub, October 1, 2026; C$13.56/share; TSXV quote C$13.44 consistent) — far under the ~33% ceiling. Gate 2 passes. The prior convertible loan facility was fully settled in 2025.
Gate 3 — Non-compliant income: PASS
H1 2026 revenue from royalty interests of US$8.288M; other income of US$336K — about 4.1% of revenue — under the 5% ceiling, and no interest income is disclosed (the income statement shows only interest expense of US$650K and finance charges of US$107K). Gate 3 passes.
Key figures used
- Precious metals royalty & streaming: gold, silver, copper interests on third-party mines.
- 93.5M shares outstanding; portfolio of producing, development, exploration assets.
- H1 2026 royalty revenue US$8.288M (+88%); net income US$1.334M (record Q2).
- Revolving credit facility US$40M (BMO/NBF) + US$35M accordion; matures June 24, 2028.
- Drawn debt US$12.3M at June 30, 2026 (prior convertible loan settled 2025).
- Market cap ~C$1.27B (Finnhub, October 1, 2026; C$13.56/share).
- USD/CAD ~1.42 → debt ~C$17.5M → debt-to-market-cap ≈1.4% — PASS.
- H1 2026 other income US$336K (~4.1% of revenue); no interest income — PASS.
Frequently asked questions
Is Metalla Royalty (MTA) halal?
Our October 2026 screen gives Metalla Royalty & Streaming (MTA) a PASS. The business gate passes: the company acquires and manages gold, silver, and copper royalties and streaming interests - a permissible mining-services segment. The debt gate passes: US$12.3M drawn under its revolving credit facility at June 30, 2026 is about 1.4% of the ~C$1.27B market cap, far under the ~33% ceiling. The income gate passes: H1 2026 other income of US$336K is ~4.1% of US$8.288M royalty revenue, under the 5% ceiling, with no interest income disclosed. No Musaffa/Zoya/ShariaPortfolio rating was found.
What business is Metalla Royalty in?
Metalla Royalty & Streaming Ltd., headquartered in Vancouver, is a precious metals royalty and streaming company. It engages in the acquisition and management of gold, silver, and copper royalties, streams, and similar production-based interests on third-party mines. It holds 93,495,874 shares outstanding and a portfolio of producing, development, and exploration assets. It is listed on the TSX Venture Exchange (MTA) and NYSE American (MTA).
Does Metalla Royalty pass the debt gate?
At June 30, 2026, Metalla had US$12.3M drawn under its US$40M revolving credit facility with Bank of Montreal and National Bank Financial (plus a US$35M accordion; maturity June 24, 2028). Converted at ~1.42 USD/CAD, that is ~C$17.5M - about 1.4% of the ~C$1.27B market cap (Finnhub, October 1, 2026) - far under the ~33% ceiling. The debt gate passes. Its prior convertible loan facility was fully settled in 2025.
Is Metalla Royalty's income compliant?
In H1 2026, Metalla reported revenue from royalty interests of US$8.288M and other income of US$336K - about 4.1% of revenue, under the 5% non-compliant-income ceiling. No interest income is disclosed (the income statement shows only interest expense of US$650K and finance charges). The income gate passes.
What do Musaffa, Zoya or ShariaPortfolio say about Metalla Royalty?
No Zoya, Musaffa, or ShariaPortfolio rating was found for Metalla Royalty in public search - none of the three named providers surfaced coverage, so no rating is claimed here. This page's PASS result is based on the company's own filings and market data.
Sources
- Metalla Q2 2026 interim financial statements (SEDAR+, filed 2026-08-13)
- Metalla Q2 2026 record financial results release (August 13, 2026)
- Finnhub MTA.NE quote (C$13.56, market cap C$1.27B, October 1, 2026)
- USD/CAD rate ~1.42, September 30, 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.