TSX Shariah screener · October 2026
Is Western Copper and Gold Corp. (WRN) Halal?
Western Copper and Gold Corp. · TSX: WRN · Materials
The short answer
No — Western Copper and Gold (WRN) fails this Shariah stock screen. Its Casino copper-gold project development business is permissible and its debt is negligible, but interest income of C$968,246 in Q2 2026 (C$1,365,967 in H1 2026) was the company's only income — it is pre-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
Western Copper and Gold Corp. (TSX:WRN, also listed on NYSE American) is a pre-revenue developer advancing the Casino copper-gold project in Yukon; Rio Tinto holds a 9.5% stake. 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$5.223M — debt ÷ market cap is about 1% against a market cap of roughly C$712.45M (226,175K shares at C$3.15), well under the ~33% ceiling. Cash of C$41.9M is about 6% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL
The Q2 2026 financial statements (6-K filed August 7, 2026) disclose a separate interest-income line of C$968,246 (H1 2026: C$1,365,967), 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: C$968,246 (Q2 2026) / C$1,365,967 (H1 2026) — separately disclosed; revenue nil (pre-revenue)
- Total liabilities: US$5.223M at Jun 30, 2026; debt ÷ market cap ≈ 1%
- Market cap: ~C$712.45M (226,175K shares × C$3.15, Oct 1, 2026); cash C$41.9M ≈ 6%
- Asset: Casino copper-gold project (Yukon); Rio Tinto holds 9.5% — no haram segments
- Also listed on NYSE American
Frequently asked questions
Is Western Copper and Gold (WRN) halal?
No. Western Copper and Gold fails this Shariah stock screen. Its Casino copper-gold project development business is permissible and its debt is negligible, but interest income of C$968,246 in Q2 2026 (C$1,365,967 in H1 2026) was the company's only income — it is pre-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 Western Copper and Gold's debt-to-market-cap ratio?
About 1%. Total liabilities at June 30, 2026 were US$5.223M, against a market cap of roughly C$712.45M (226,175K shares at C$3.15, October 1, 2026) — well under the ~33% ceiling.
What does Western Copper and Gold do?
Western Copper and Gold Corp. (TSX:WRN, also listed on NYSE American) is a pre-revenue developer advancing the Casino copper-gold project in Yukon; Rio Tinto holds a 9.5% stake.
How much interest income does Western Copper and Gold earn relative to revenue?
The Q2 2026 financial statements disclose a separate interest-income line of C$968,246 (H1 2026: C$1,365,967), 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
- Western Copper and Gold — Q2 2026 6-K (filed Aug 7, 2026): C$968,246 Q2 interest income; US$5.223M total liabilities
- Finnhub — WRN.TO quote (C$3.15, 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.