TSX Shariah screener · October 2026
Is New Pacific Metals Corp. (NUAG) Halal?
New Pacific Metals Corp. · TSX: NUAG · Materials
The short answer
No — New Pacific Metals (NUAG) fails this Shariah stock screen. Its silver-gold exploration and development business in Bolivia is permissible and it carries no interest-bearing debt, but interest income of US$937,453 in FY2026 (year ended June 30, 2026) was the company's only income — it is pre-revenue with nil sales — 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
New Pacific Metals Corp. (TSX:NUAG, also listed on NYSE American as NEWP) is a pre-revenue exploration and development company advancing precious-metals projects in Bolivia: the Silver Sand silver project (Potosí Department), the Carangas silver-gold project (Oruro Department), and the earlier-stage Silverstrike project. 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$1.126M — entirely accounts payable and a non-interest-bearing related-party balance, with zero interest-bearing debt. Debt ÷ market cap is about 0.1% against a market cap of roughly C$1.47B (185,070K shares at C$7.94), well under the ~33% ceiling. Cash of US$38.6M is about 3.6% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL
The FY2026 audited financial statements (6-K filed September 3, 2026) disclose a separate interest-income line of US$937,453 (Note 4) for the year ended June 30, 2026, while the company is pre-revenue with nil sales. 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: US$937,453 (FY2026, separately disclosed, Note 4) — revenue nil (pre-revenue explorer)
- Total liabilities: US$1.126M at Jun 30, 2026 (accounts payable + related party only, zero interest-bearing debt); debt ÷ market cap ≈ 0.1%
- Market cap: ~C$1.47B (185,070K shares × C$7.94, Oct 1, 2026); cash US$38.6M ≈ 3.6%
- Assets: Silver Sand silver project (Potosí, Bolivia), Carangas silver-gold project (Oruro), Silverstrike — no haram segments
- Net loss FY2026: US$4.19M ($0.02/share); also listed on NYSE American (NEWP)
Frequently asked questions
Is New Pacific Metals (NUAG) halal?
No. New Pacific Metals fails this Shariah stock screen. Its silver-gold exploration and development business in Bolivia is permissible and it carries no interest-bearing debt, but interest income of US$937,453 in FY2026 (year ended June 30, 2026) was the company's only income — it is pre-revenue with nil sales — 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 New Pacific Metals' debt-to-market-cap ratio?
About 0.1%. Total liabilities at June 30, 2026 were US$1.126M — all accounts payable and a non-interest-bearing related-party balance, with no interest-bearing debt — against a market cap of roughly C$1.47B (185,070K shares at C$7.94, October 1, 2026) — well under the ~33% ceiling.
What does New Pacific Metals do?
New Pacific Metals Corp. (TSX:NUAG, also listed on NYSE American as NEWP) is a pre-revenue exploration and development company advancing precious-metals projects in Bolivia: the Silver Sand silver project (Potosí Department), the Carangas silver-gold project (Oruro Department), and the earlier-stage Silverstrike project.
How much interest income does New Pacific Metals earn relative to revenue?
The FY2026 audited financial statements disclose a separate interest-income line of US$937,453 for the year ended June 30, 2026, while the company is pre-revenue with nil sales. 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
- New Pacific Metals — FY2026 6-K (filed Sep 3, 2026): US$937,453 interest income (Note 4); US$1.126M total liabilities; nil revenue
- Barchart — NUAG.TO quote page (185,070K shares outstanding; annual sales $0)
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).