Is Magnum Mining and Exploration Ltd halal to invest in?

According to Musaffa's Shariah screening methodology, Magnum Mining and Exploration Ltd (MGU.AX) is currently classified as NOT HALAL as of July 2025. The classification is based on an evaluation of the company's business activities and financial ratios to determine whether it meets Islamic investment guidelines.

Is Magnum Mining and Exploration Ltd a Shariah-compliant stock?

A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes Magnum Mining and Exploration Ltd using these criteria to determine its compliance status.

Can Muslims buy shares of Magnum Mining and Exploration Ltd?

Muslim investors may consider investing in Magnum Mining and Exploration Ltd if it meets Shariah compliance standards. Investors typically review the company's business activities, debt levels, and non-permissible income before making a decision.

Why is Magnum Mining and Exploration Ltd classified as NOT HALAL?

Musaffa determines the Shariah status of Magnum Mining and Exploration Ltd by analyzing whether the company's core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.

How often is the Shariah compliance for Magnum Mining and Exploration Ltd updated?

The Shariah compliance status of Magnum Mining and Exploration Ltd may be updated periodically when new financial statements, earnings reports, or business activity information become available.

Can a halal stock like Magnum Mining and Exploration Ltd become non-compliant?

Yes. A stock that is currently Shariah-compliant may become non-compliant if the company's financial ratios exceed Shariah thresholds or its business activities change.

Where can I check the Shariah status of Magnum Mining and Exploration Ltd?

You can check the latest Shariah compliance status of Magnum Mining and Exploration Ltd on Musaffa's stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.

MGU.AX Shariah Compliance

Screening Methodology: AAOIFI

NOT HALAL

Last Updated: July 31, 2025

Report Source: 2024 Annual Report

Magnum Mining and Exploration Ltd. Stock Analysis MGU.AX

Australia Materials Nano Cap Report: 2024 Annual

Magnum Mining & Exploration Ltd. engages in the business of mineral exploration and evaluation. The firm is also developing the Appalachian Iron HIsmelt Green Pig Iron Project located in West Virginia, United States. The company owns 100% interest in Monomatapa Mining Services Inc, which holds the Parker and Mormon Canyon Projects. The project assets include two packages of prospective copper-gold properties situated in Arizona and Idaho, United States. The firm owns 100% interest in EV Resources Inc, which holds the La Cienega Gold Project situated in Arizona, United States. The company owns 100% interest in Palmares Estudos Geologicos LTDA, which owns a major portfolio of Rare Earth Element (REE) prospective mineral exploration licenses. Its Azimuth 125 and Palmares REE Projects are located across the states of Bahia, Minas Gerais and Goias states in south-central Brazil. Both projects cover 1,549 km2.

Key Statistics of Magnum Mining and Exploration Ltd (MGU.AX)

Key statistics in the stock market are essential financial indicators that measure a company's performance, valuation, profitability, and risk.

Today's Range

AUD0.01AUD0.01

Today's Open

AUD0.01

Volume

1.82M

P/E Ratio (TTM)

52 Week Range

AUD0.00AUD0.01

Market Cap

22.49M

Avg. Volume

1.59M

Dividend Yield

Financial Metrics & Statements of Magnum Mining and Exploration Ltd (MGU.AX)

FAQ's for Magnum Mining and Exploration Ltd (MGU.AX)

According to Musaffa’s Shariah screening methodology, Magnum Mining and Exploration Ltd (MGU.AX) is currently classified as NOT HALAL as of July 2025. The classification is based on an evaluation of the company’s business activities and financial ratios to determine whether it meets Islamic investment guidelines.