TSX Shariah screener · October 2026
Is Serabi Gold plc (SBI) Halal?
Serabi Gold plc · TSX: SBI · Materials
The short answer
No — Serabi Gold (SBI) fails this Shariah stock screen on the cash gate. Its Brazilian gold mining business (Palito Complex) is permissible and it is debt-free, but cash of US$65.7M at June 30, 2026 (about C$90M) is about 47.8% of its C$188.48M market cap — over the ~33% ceiling, robust across any plausible FX rate. Dual-listed on AIM as SRB. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
Serabi Gold plc (TSX:SBI; AIM: SRB) is a gold mining company in Brazil (Palito Complex). 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
The company is debt-free — it repaid the US$5.3M Banco Santander facility in Q1 2026 — debt ÷ market cap is about 0% against a market cap of roughly C$188.48M (C$4.62, October 1, 2026), well under the ~33% ceiling. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL (cash gate)
Cash of US$65.7M at June 30, 2026 (about C$90M at ~1.37) — about 47.8% of the C$188.48M market cap — over the ~33% cash-and-securities ceiling, robust across any plausible FX rate. This gate fails, and it is decisive. H1 2026 revenue was US$100.068M (Q2: US$49.497M); the finance-income figure was not extracted from the H1 release, which is moot given the cash-gate failure. Facts only.
Key figures used
- Cash: US$65.7M at Jun 30, 2026 (~C$90M at ~1.37) ≈ 47.8% of market cap — FAIL vs ~33% (robust across any plausible FX)
- Market cap: ~C$188.48M (C$4.62, Oct 1, 2026)
- Debt: debt-free — repaid US$5.3M Banco Santander facility in Q1 2026 ≈ 0% — PASS
- H1 2026 revenue: US$100.068M (Q2: US$49.497M); finance-income figure not extracted — moot
- Business: gold mining in Brazil (Palito Complex); dual-listed AIM: SRB — no haram segments
Frequently asked questions
Is Serabi Gold (SBI) halal?
No. Serabi Gold fails this Shariah stock screen on the cash gate. Its Brazilian gold mining business (Palito Complex) is permissible and it is debt-free, but cash of US$65.7M at June 30, 2026 (about C$90M) is about 47.8% of its C$188.48M market cap — over the ~33% ceiling, robust across any plausible FX rate. Dual-listed on AIM as SRB. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Serabi Gold's cash-to-market-cap ratio?
About 47.8%. Cash of US$65.7M at June 30, 2026 (about C$90M at ~1.37), against a market cap of roughly C$188.48M (C$4.62, October 1, 2026) — over the ~33% ceiling, robust across any plausible FX rate.
What does Serabi Gold do?
Serabi Gold plc (TSX:SBI; AIM: SRB) is a gold mining company in Brazil (Palito Complex).
What is Serabi Gold's debt-to-market-cap ratio?
About 0%. The company is debt-free — it repaid the US$5.3M Banco Santander facility in Q1 2026 — well under the ~33% 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
- Serabi Gold — H1 2026 interim results (announced Sep 22, 2026): US$65.7M cash; debt-free; US$100.068M H1 revenue
- Finnhub — SBI quote (C$4.62, 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.