<?xml version="1.0" encoding="utf-8"?>
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <!-- INTEGIX by Ez-XBRL -->
  <roleRef xlink:type="simple" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#ConsolidatedStatementOfComprehensiveIncome" roleURI="https://www.photonenergy.com/role/ConsolidatedStatementOfComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#ConsolidatedStatementOfComprehensiveIncomeCalculation2" roleURI="https://www.photonenergy.com/role/ConsolidatedStatementOfComprehensiveIncomeCalculation2"/>
  <roleRef xlink:type="simple" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#ConsolidatedStatementOfFinancialPosition" roleURI="https://www.photonenergy.com/role/ConsolidatedStatementOfFinancialPosition"/>
  <roleRef xlink:type="simple" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#ConsolidatedStatementOfChangesInEquity" roleURI="https://www.photonenergy.com/role/ConsolidatedStatementOfChangesInEquity"/>
  <roleRef xlink:type="simple" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#ConsolidatedStatementOfCashFlows" roleURI="https://www.photonenergy.com/role/ConsolidatedStatementOfCashFlows"/>
  <calculationLink xlink:type="extended" xlink:role="https://www.photonenergy.com/role/ConsolidatedStatementOfComprehensiveIncome">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncome" xlink:label="loc_ifrs-full_ComprehensiveIncome_0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss" xlink:label="loc_ifrs-full_ProfitLoss_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="loc_ifrs-full_ProfitLossBeforeTax_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceIncome" xlink:label="loc_ifrs-full_FinanceIncome_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceCosts" xlink:label="loc_ifrs-full_FinanceCosts_2"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnFinancialLiabilitiesAtAmortisedCost" xlink:label="loc_ifrs-full_GainsLossesOnFinancialLiabilitiesAtAmortisedCost_3"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="loc_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_4"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="loc_ifrs-full_ProfitLossFromOperatingActivities_5"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="loc_ifrs-full_DepreciationAndAmortisationExpense_5"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:label="loc_ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_6"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_7"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda" xlink:label="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherIncome" xlink:label="loc_ifrs-full_OtherIncome_8"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Revenue" xlink:label="loc_ifrs-full_Revenue_9"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="loc_ifrs-full_RawMaterialsAndConsumablesUsed_10"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_SolarLevy" xlink:label="loc_PhotonEnergy_SolarLevy_11"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense_12"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherExpenseByNature" xlink:label="loc_ifrs-full_OtherExpenseByNature_13"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_GainsOfDerecognitionOfAssociate" xlink:label="loc_PhotonEnergy_GainsOfDerecognitionOfAssociate_15"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherGainsLosses" xlink:label="loc_ifrs-full_OtherGainsLosses_16"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations_19"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="loc_ifrs-full_OtherComprehensiveIncome_21"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_21"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_22"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_23"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:label="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_24"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_DerivativesHedging" xlink:label="loc_PhotonEnergy_DerivativesHedging_25"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_0" xlink:to="loc_ifrs-full_ProfitLoss_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_1" xlink:to="loc_ifrs-full_ProfitLossBeforeTax_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_1" xlink:to="loc_ifrs-full_FinanceIncome_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_1" xlink:to="loc_ifrs-full_FinanceCosts_2" order="10" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_1" xlink:to="loc_ifrs-full_GainsLossesOnFinancialLiabilitiesAtAmortisedCost_3" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_1" xlink:to="loc_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_4" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_1" xlink:to="loc_ifrs-full_ProfitLossFromOperatingActivities_5" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_ifrs-full_DepreciationAndAmortisationExpense_5" order="0" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9_6" order="10" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_7" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_ifrs-full_OtherIncome_8" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_ifrs-full_Revenue_9" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_ifrs-full_RawMaterialsAndConsumablesUsed_10" order="20" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_PhotonEnergy_SolarLevy_11" order="30" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_ifrs-full_EmployeeBenefitsExpense_12" order="40" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_EarningsBeforeInterestTaxesDepreciationAmortisationEbitda_8" xlink:to="loc_ifrs-full_OtherExpenseByNature_13" order="50" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_PhotonEnergy_GainsOfDerecognitionOfAssociate_15" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities_5" xlink:to="loc_ifrs-full_OtherGainsLosses_16" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_1" xlink:to="loc_ifrs-full_IncomeTaxExpenseContinuingOperations_19" order="10" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_0" xlink:to="loc_ifrs-full_OtherComprehensiveIncome_21" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_21" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_21" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_21" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_22" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_21" xlink:to="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_23" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_21" xlink:to="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_24" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_21" xlink:to="loc_PhotonEnergy_DerivativesHedging_25" order="40" use="optional" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="https://www.photonenergy.com/role/ConsolidatedStatementOfComprehensiveIncomeCalculation2">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss" xlink:label="loc_ifrs-full_ProfitLoss_0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests_2"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncome" xlink:label="loc_ifrs-full_ComprehensiveIncome_3"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_4"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_5"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_0" xlink:to="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_0" xlink:to="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests_2" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_3" xlink:to="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_4" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_3" xlink:to="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_5" order="10" use="optional" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="https://www.photonenergy.com/role/ConsolidatedStatementOfFinancialPosition">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Assets" xlink:label="loc_ifrs-full_Assets_0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentAssets" xlink:label="loc_ifrs-full_NoncurrentAssets_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Goodwill" xlink:label="loc_ifrs-full_Goodwill_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill_2"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment_3"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RightofuseAssets" xlink:label="loc_ifrs-full_RightofuseAssets_4"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:label="loc_ifrs-full_OtherNoncurrentNonfinancialAssets_5"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod_6"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="loc_ifrs-full_NoncurrentDerivativeFinancialAssets_7"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="loc_ifrs-full_OtherNoncurrentReceivables_8"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxAssets" xlink:label="loc_ifrs-full_DeferredTaxAssets_9"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentFinancialAssets" xlink:label="loc_ifrs-full_OtherNoncurrentFinancialAssets_10"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssets" xlink:label="loc_ifrs-full_CurrentAssets_12"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Inventories" xlink:label="loc_ifrs-full_Inventories_12"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentContractAssets" xlink:label="loc_ifrs-full_CurrentContractAssets_13"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="loc_ifrs-full_CurrentTradeReceivables_14"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentReceivables" xlink:label="loc_ifrs-full_OtherCurrentReceivables_15"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="loc_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties_16"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="loc_ifrs-full_CurrentTaxAssetsCurrent_17"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentPrepaidExpenses" xlink:label="loc_ifrs-full_CurrentPrepaidExpenses_18"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_LiquidAssets" xlink:label="loc_PhotonEnergy_LiquidAssets_19"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="loc_ifrs-full_CashAndCashEquivalents_19"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:label="loc_ifrs-full_CurrentRestrictedCashAndCashEquivalents_20"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_PreciousMetals" xlink:label="loc_PhotonEnergy_PreciousMetals_21"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:label="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_23"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAndLiabilities" xlink:label="loc_ifrs-full_EquityAndLiabilities_25"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Equity" xlink:label="loc_ifrs-full_Equity_26"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="loc_ifrs-full_EquityAttributableToOwnersOfParent_26"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IssuedCapital" xlink:label="loc_ifrs-full_IssuedCapital_26"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SharePremium" xlink:label="loc_ifrs-full_SharePremium_27"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevaluationSurplus" xlink:label="loc_ifrs-full_RevaluationSurplus_28"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_StatutoryReserve" xlink:label="loc_ifrs-full_StatutoryReserve_29"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReserveOfCashFlowHedges" xlink:label="loc_ifrs-full_ReserveOfCashFlowHedges_30"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslation_31"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RetainedEarnings" xlink:label="loc_ifrs-full_RetainedEarnings_32"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_OtherCapitalFunds" xlink:label="loc_PhotonEnergy_OtherCapitalFunds_33"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TreasuryShares" xlink:label="loc_ifrs-full_TreasuryShares_34"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterests" xlink:label="loc_ifrs-full_NoncontrollingInterests_36"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Liabilities" xlink:label="loc_ifrs-full_Liabilities_38"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="loc_ifrs-full_NoncurrentLiabilities_38"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LongtermBorrowings" xlink:label="loc_ifrs-full_LongtermBorrowings_38"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BondsIssued" xlink:label="loc_ifrs-full_BondsIssued_39"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="loc_ifrs-full_NoncurrentLeaseLiabilities_40"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="loc_ifrs-full_OtherNoncurrentLiabilities_41"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherLongtermProvisions" xlink:label="loc_ifrs-full_OtherLongtermProvisions_42"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="loc_ifrs-full_DeferredTaxLiabilities_43"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="loc_ifrs-full_NoncurrentDerivativeFinancialLiabilities_44"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentLiabilities" xlink:label="loc_ifrs-full_CurrentLiabilities_46"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="loc_ifrs-full_CurrentPortionOfLongtermBorrowings_46"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued" xlink:label="loc_ifrs-full_CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued_47"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_48"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentPayables" xlink:label="loc_ifrs-full_OtherCurrentPayables_49"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentContractLiabilities" xlink:label="loc_ifrs-full_CurrentContractLiabilities_50"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:label="loc_ifrs-full_CurrentLeaseLiabilities_51"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="loc_ifrs-full_CurrentTaxLiabilitiesCurrent_52"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_0" xlink:to="loc_ifrs-full_NoncurrentAssets_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_Goodwill_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill_2" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_PropertyPlantAndEquipment_3" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_RightofuseAssets_4" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_OtherNoncurrentNonfinancialAssets_5" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod_6" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_NoncurrentDerivativeFinancialAssets_7" order="60" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_OtherNoncurrentReceivables_8" order="70" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_DeferredTaxAssets_9" order="80" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentAssets_1" xlink:to="loc_ifrs-full_OtherNoncurrentFinancialAssets_10" order="90" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_0" xlink:to="loc_ifrs-full_CurrentAssets_12" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_Inventories_12" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_CurrentContractAssets_13" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_CurrentTradeReceivables_14" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_OtherCurrentReceivables_15" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties_16" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_CurrentTaxAssetsCurrent_17" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_CurrentPrepaidExpenses_18" order="60" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_PhotonEnergy_LiquidAssets_19" order="70" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_LiquidAssets_19" xlink:to="loc_ifrs-full_CashAndCashEquivalents_19" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_LiquidAssets_19" xlink:to="loc_ifrs-full_CurrentRestrictedCashAndCashEquivalents_20" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PhotonEnergy_LiquidAssets_19" xlink:to="loc_PhotonEnergy_PreciousMetals_21" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentAssets_12" xlink:to="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_23" order="80" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAndLiabilities_25" xlink:to="loc_ifrs-full_Equity_26" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Equity_26" xlink:to="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_IssuedCapital_26" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_SharePremium_27" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_RevaluationSurplus_28" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_StatutoryReserve_29" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_ReserveOfCashFlowHedges_30" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslation_31" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_RetainedEarnings_32" order="60" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_PhotonEnergy_OtherCapitalFunds_33" order="70" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParent_26" xlink:to="loc_ifrs-full_TreasuryShares_34" order="80" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Equity_26" xlink:to="loc_ifrs-full_NoncontrollingInterests_36" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAndLiabilities_25" xlink:to="loc_ifrs-full_Liabilities_38" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_38" xlink:to="loc_ifrs-full_NoncurrentLiabilities_38" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_LongtermBorrowings_38" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_BondsIssued_39" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_NoncurrentLeaseLiabilities_40" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_OtherNoncurrentLiabilities_41" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_OtherLongtermProvisions_42" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_DeferredTaxLiabilities_43" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_NoncurrentLiabilities_38" xlink:to="loc_ifrs-full_NoncurrentDerivativeFinancialLiabilities_44" order="60" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_38" xlink:to="loc_ifrs-full_CurrentLiabilities_46" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_CurrentPortionOfLongtermBorrowings_46" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued_47" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_48" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_OtherCurrentPayables_49" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_CurrentContractLiabilities_50" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_CurrentLeaseLiabilities_51" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CurrentLiabilities_46" xlink:to="loc_ifrs-full_CurrentTaxLiabilitiesCurrent_52" order="60" use="optional" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="https://www.photonenergy.com/role/ConsolidatedStatementOfChangesInEquity">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="loc_ifrs-full_OtherComprehensiveIncome_0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:label="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_2"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_3"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_4"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_DerivativesHedging" xlink:label="loc_PhotonEnergy_DerivativesHedging_5"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_0" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_0" xlink:to="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_2" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_0" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_3" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_0" xlink:to="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_4" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_0" xlink:to="loc_PhotonEnergy_DerivativesHedging_5" order="40" use="optional" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="https://www.photonenergy.com/role/ConsolidatedStatementOfCashFlows">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_0"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_1"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_2"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:label="loc_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_3"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_4"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_PrepaidExpenses" xlink:label="loc_PhotonEnergy_PrepaidExpenses_5"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_GrossAmountDueFromCustomersForContractWork" xlink:label="loc_PhotonEnergy_GrossAmountDueFromCustomersForContractWork_6"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_7"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="loc_ifrs-full_OtherAdjustmentsForNoncashItems_8"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:label="loc_ifrs-full_AdjustmentsForFinanceIncomeCost_9"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow" xlink:label="loc_ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow_10"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_11"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_12"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_AdjustmentsForIncreaseDecreaseInGold" xlink:label="loc_PhotonEnergy_AdjustmentsForIncreaseDecreaseInGold_13"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="loc_ifrs-full_ProfitLossBeforeTax_14"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_16"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_17"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_AcquisitionOfOtherFinancialAssetPreciousMetals" xlink:label="loc_PhotonEnergy_AcquisitionOfOtherFinancialAssetPreciousMetals_18"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:label="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_19"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_20"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_InterestPaidClassifiedAsFinancingActivities_22"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="loc_ifrs-full_RepaymentsOfBondsNotesAndDebentures_23"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsForDebtIssueCosts" xlink:label="loc_ifrs-full_PaymentsForDebtIssueCosts_24"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_CashFlowsUsedInIncreaseInRestrictedCashAndCashEquivalents" xlink:label="loc_PhotonEnergy_CashFlowsUsedInIncreaseInRestrictedCashAndCashEquivalents_25"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_CashFlowsUsedInDecreaseInRestrictedCashAndCashEquivalents" xlink:label="loc_PhotonEnergy_CashFlowsUsedInDecreaseInRestrictedCashAndCashEquivalents_26"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:label="loc_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_27"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_28"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_29"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_30"/>
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="loc_ifrs-full_ProceedsFromIssuingShares_31"/>
    <loc xlink:type="locator" xlink:href="315700YHFON9RJOPCK19-2023-12-31.xsd#PhotonEnergy_ProceedsFromTerminatedDerivatives" xlink:label="loc_PhotonEnergy_ProceedsFromTerminatedDerivatives_32"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_0" xlink:to="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_1" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_2" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_3" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_4" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_PhotonEnergy_PrepaidExpenses_5" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_PhotonEnergy_GrossAmountDueFromCustomersForContractWork_6" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_7" order="60" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_OtherAdjustmentsForNoncashItems_8" order="70" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForFinanceIncomeCost_9" order="80" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow_10" order="90" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_11" order="100" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_12" order="110" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_PhotonEnergy_AdjustmentsForIncreaseDecreaseInGold_13" order="120" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_1" xlink:to="loc_ifrs-full_ProfitLossBeforeTax_14" order="130" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_0" xlink:to="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" order="10" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" xlink:to="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_16" order="0" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" xlink:to="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_17" order="10" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" xlink:to="loc_PhotonEnergy_AcquisitionOfOtherFinancialAssetPreciousMetals_18" order="20" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" xlink:to="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_19" order="30" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_16" xlink:to="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_20" order="40" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_0" xlink:to="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" order="20" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_InterestPaidClassifiedAsFinancingActivities_22" order="0" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_RepaymentsOfBondsNotesAndDebentures_23" order="10" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_PaymentsForDebtIssueCosts_24" order="20" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_PhotonEnergy_CashFlowsUsedInIncreaseInRestrictedCashAndCashEquivalents_25" order="30" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_PhotonEnergy_CashFlowsUsedInDecreaseInRestrictedCashAndCashEquivalents_26" order="40" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_27" order="50" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_28" order="60" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_29" order="70" use="optional" weight="-1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_30" order="80" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_ifrs-full_ProceedsFromIssuingShares_31" order="90" use="optional" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_22" xlink:to="loc_PhotonEnergy_ProceedsFromTerminatedDerivatives_32" order="100" use="optional" weight="1"/>
  </calculationLink>
</linkbase>