Note 2 - Basis of Preparation

12 Months Ended

Dec. 31, 2020

Disclosure of basis of preparation of financial statements [text block]

2	Basis of preparation

Statement of compliance

The consolidated financial statements have been prepared on a going concern basis, in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

The consolidated financial statements were authorised for issue by the Board of Directors on

March 22, 2021.

ii)

Basis of measurement

The consolidated financial statements have been prepared on the historical cost basis except for:

cash-settled share-based payment arrangements measured at fair value on grant and re-measurement dates;

equity-settled share-based payment arrangements measured at fair value on the grant date; and

derivative financial instruments measured at fair value.

iii)

Functional currency

These consolidated financial statements are presented in United States Dollars (“$” or “US Dollar” or “USD”), which is also the functional currency of the Company. All financial information presented in United States Dollars has been rounded to the nearest thousand, unless indicated otherwise. Refer to note

for changes to the Zimbabwean real-time gross settlement, bond notes or bond coins (“RTGS$”) and its effect on the statement of profit or loss and other comprehensive income.