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Note 10 - Other Income | 12 Months Ended
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Dec. 31, 2020
Statement Line Items [Line Items] |
Disclosure of other operating income [text block] |
10 | Other income
|  | 2020 |  |  | 2019 |  |  | 2018 |
Government grant – Gold sale export credit incentive |  |  | 4,695 |  |  |  | 866 |  |  |  | 6,482 |
Government grant – Gold support price |  |  | - |  |  |  | 1,064 |  |  |  | - |
Other |  |  | 70 |  |  |  | 94 |  |  |  | 39 |
Greenstone Retirement Fund pay-out |  |  | - |  |  |  | 250 |  |  |  | - |
Greenstone Provident Fund pay-out |  |  | - |  |  |  | - |  |  |  | 363 |
Eersteling rock dump sale |  |  | - |  |  |  | - |  |  |  | 217 |
|  |  | 4,765 |  |  |  | 2,274 |  |  |  | 7,101 |
Government grant – Gold sale export credit incentive The Reserve Bank of Zimbabwe (“RBZ”) first announced an export credit incentive (“ECI”) on the gold proceeds received for all large-scale gold mine producers during 2016. The ECI is calculated as a percentage of the gold proceeds less the charges of Fidelity. The below table indicates when the ECI was applicable and the percentages granted, as announced by the Zimbabwean Government:
ECI applicable periods | Percentage
May 1, 2016 – December 31, 2017 | 3.5%
January 1, 2018 – January 31, 2018 | 2.5%
February 1, 2018 – February 20, 2019 | 10%
February 21, 2019 – March 9, 2020 | 0%
March 10, 2020 – June 26, 2020 | 25%
All incentives granted by the Zimbabwean Government were included in other income when determined receivable. Incentives were received in Blanket Mine's RTGS$ account. The ECI fell away after June 26, 2020. Government grant – Gold support price From March 6, 2019 it became apparent that Blanket Mine's sales proceeds received from Fidelity were calculated at a gross price of $44,000 per kilogram ( $1,368.58 per ounce), which exceeded the prevailing London Bullion Market Association (“LBMA”) price. On May 12, 2019, the Company received confirmation from Fidelity of this windfall receipt, called the “gold support price”, which has been implemented to incentivise gold producers to increase gold production. The gold support price has not been received since the LBMA gold price subsequently increased above $1,368.58 per ounce.

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- Definition The disclosure of other operating income. [Refer: Other operating income (expense)] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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