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Note 9 - Other Income

12 Months Ended

Dec. 31, 2021

Statement Line Items [Line Items]

Disclosure of other operating income [text block]

9	Other income

		2021				2020				2019

Government grant – Gold sale export credit incentive			-				4,695				866
Government grant – Gold support price			-				-				1,064
Other			46				70				94
Greenstone Retirement Fund pay-out			-				-				250
			46				4,765				2,274

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.