Caledonia Mining (CMCL) 20-F 15 May 24 2023 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Entity Central Index Key	0000766011
Entity Registrant Name	Caledonia Mining Corp Plc
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38164
Entity Incorporation, State or Country Code	Y9
Entity Address, Address Line One	B006 Millais House, Castle Quay
Entity Address, City or Town	St Helier
Entity Address, Country	JE
Entity Address, Postal Zip Code	JE2 3EF
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	CMCL
Security Exchange Name	NYSEAMER
Entity Common Stock, Shares Outstanding	19,188,073
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Auditor Name	BDO South Africa Incorporated
Auditor Location	Johannesburg, Gauteng, South Africa
Auditor Firm ID	1368
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	B006 Millais House, Castle Quay
Entity Address, City or Town	St Helier
Entity Address, Country	JE
Entity Address, Postal Zip Code	JE2 3EF
Contact Personnel Name	Mark Learmonth
City Area Code	44
Local Phone Number	1534 679 800

Consolidated Statements of Prof

Consolidated Statements of Profit or Loss and Other Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Revenue		$ 146,314		$ 142,082	$ 121,329
Royalty		(7,637)		(7,124)	(6,083)
Production costs		(82,709)		(62,998)	(53,126)
Depreciation		(14,486)		(10,141)	(8,046)
Gross profit		41,482		61,819	54,074
Other income		263		60	46
Other expenses*		(4,367)	[1]	(11,782)	(7,136)
Administrative expenses		(17,429)		(11,941)	(9,091)
Cash-settled share-based expense		(463)		(609)	(477)
Equity-settled share-based expense		(640)		(484)	0
Net foreign exchange (loss) gain	[2]	(2,550)		4,411	1,184
Net derivative financial instrument expense		(1,119)		(1,198)	(240)
Operating profit		15,177		40,276	38,360
Finance income		39		17	14
Finance cost		(3,024)		(657)	(375)
Profit before tax		(12,192)		(39,636)	(37,999)
Tax expense		(12,810)		(16,770)	(14,857)
(Loss) profit for the period		(618)		22,866	23,142
Other comprehensive income
Exchange differences on translation of foreign operations		(622)		(462)	(531)
Total comprehensive income for the period		(1,240)		22,404	22,611
(Loss) profit attributable to:
Owners of the Company		(4,198)		17,903	18,405
Non-controlling interests		3,580		4,963	4,737
(Loss) profit for the period		(618)		22,866	23,142
Total comprehensive income attributable to:
Owners of the Company		(4,820)		17,441	17,874
Non-controlling interests		3,580		4,963	4,737
Total comprehensive income for the period		$ (1,240)		$ 22,404	$ 22,611
(Loss) earnings per share
Basic (loss) earnings per share ($) (in dollars per share)		$ (0.24)		$ 1.36	$ 1.49
Diluted (loss) earnings per share ($) (in dollars per share)		$ (0.24)		$ 1.35	$ 1.48
[1]Other expenses include impairment of plant and equipment of $26 for Blanket and $851 for the Bilboes oxide mine, as well as impairment of the solar VAT and duty receivable amounting to $720 for Blanket.[2]After December 31, 2023 the RTGS$:USD conversion rate devalued from RTGS$ 6,105:USD 1 to RTGS$ 20,945:USD 1 on March, 25 2024. The devaluation in the exchange rate will devalue RTGS$-denominated monetary assets in quarter 1, of 2024.

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Exploration and evaluation assets	$ 94,272	$ 17,579
Property, plant and equipment	179,649	178,983
Deferred tax asset	153	202
Total non-current assets	274,074	196,764
Income tax receivable	1,120	40
Inventories	20,304	18,334
Derivative financial assets	88	440
Trade and other receivables	9,952	9,185
Prepayments	2,538	3,693
Cash and cash equivalents	6,708	6,735
Assets held for sale	13,519	0
Total current assets	54,229	38,427
Total assets	328,303	235,191
Equity and liabilities
Share capital	165,068	83,471
Reserves	137,819	137,801
Retained loss	(63,172)	(50,222)
Equity attributable to shareholders	239,715	171,050
Non-controlling interests	24,477	22,409
Total equity	264,192	193,459
Liabilities
Deferred tax liabilities	6,131	5,123
Provisions	10,985	2,958
Loan notes - long term portion	6,447	0
Cash-settled share-based payment - long term portion	374	1,029
Lease liabilities - long term portion	41	181
Total non-current liabilities	23,978	9,291
Cash-settled share-based payment - short term portion	920	1,188
Income tax payable	10	1,324
Lease liabilities - short term portion	167	132
Loan notes - short term portion	665	7,104
Trade and other payables	20,503	17,454
Overdraft and term loans	17,740	5,239
Liabilities associated with assets held for sale	128	0
Total current liabilities	40,133	32,441
Total liabilities	64,111	41,732
Total equity and liabilities	$ 328,303	$ 235,191

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Issued capital [member]	Reserve of exchange differences on translation [member]	Capital reserve [member]	Reserve of share-based payments [member]	Retained earnings [member]	Equity attributable to owners of parent [member]	Non-controlling interests [member]	Total
Issued amount at Dec. 31, 2020	$ 74,696	$ (8,794)	$ 132,591	$ 14,513	$ (71,487)	$ 141,519	$ 16,524	$ 158,043
Statement Line Items [Line Items]
Dividends declared	0	0	0	0	(6,068)	(6,068)	(2,001)	(8,069)
Shares issued - options exercised	165	0	0	0	0	165	0	165
Shares issued - Equity raise (net of transaction cost)	7,806	0	0	0	0	7,806	0	7,806
Profit for the year	0	0	0	0	18,405	18,405	4,737	23,142
Other comprehensive income for the year	0	(531)	0	0	0	(531)	0	(531)
Issued amount at Dec. 31, 2021	82,667	(9,325)	132,591	14,513	(59,150)	161,296	19,260	180,556
Statement Line Items [Line Items]
- Equity raise (net of transaction cost)								7,806
Dividends declared	0	0	0	0	(8,975)	(8,975)	(1,814)	(10,789)
Shares issued - Equity raise (net of transaction cost)	804	0	0	0	0	804	0	804
Profit for the year	0	0	0	0	17,903	17,903	4,963	22,866
Other comprehensive income for the year	0	(462)	0	0	0	(462)	0	(462)
- Equity-settled share-based expense	0	0	0	484	0	484	0	484
Issued amount at Dec. 31, 2022	83,471	(9,787)	132,591	14,997	(50,222)	171,050	22,409	193,459
Statement Line Items [Line Items]
- Equity raise (net of transaction cost)								0
Dividends declared	0	0	0	0	(8,752)	(8,752)	(1,512)	(10,264)
Shares issued - Equity raise (net of transaction cost)	351	0	0	0	0	351	0	351
Profit for the year	0	0	0	0	(4,198)	(4,198)	3,580	(618)
Other comprehensive income for the year	0	(622)	0	0	0	(622)	0	(622)
- Equity-settled share-based expense	0	0	0	640	0	640	0	640
Issued amount at Dec. 31, 2023	165,068	(10,409)	132,591	15,637	(63,172)	239,715	24,477	264,192
Statement Line Items [Line Items]
- Equity raise (net of transaction cost)	15,569	0	0	0	0	15,569	0	15,569
- Bilboes acquisition	$ 65,677	$ 0	$ 0	$ 0	$ 0	$ 65,677	$ 0	$ 65,677

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Cash inflow from operations	$ 26,398	$ 49,657	$ 38,703
Interest received	39	17	14
Finance costs paid	(2,462)	(192)	(388)
Tax paid	(9,206)	(6,866)	(7,426)
Net cash inflow from operating activities	14,769	42,616	30,903
Cash flows used in investing activities
Acquisition of property, plant and equipment	(28,556)	(41,495)	(32,112)
Acquisition of exploration and evaluation assets	(1,837)	(2,596)	(5,717)
Proceeds from sale of assets held for sale	0	0	500
Proceeds from derivative financial instruments	178	0	1,066
Acquisition of Put options	(946)	(478)	0
Proceeds from disposal of subsidiary	0	0	340
Proceeds from call options	0	416	208
Acquisition of call options	0	(176)	0
Net cash used in investing activities	(31,161)	(44,329)	(35,715)
Cash flows from financing activities
Dividends paid	(11,099)	(8,906)	(8,069)
Payment of lease liabilities	(184)	(150)	(129)
- Equity raise (net of transaction cost)	15,569	0	7,806
Repayments of term loans	0	0	(361)
Amounts received	6,895	0	0
Proceeds from gold loan	0	0	2,752
Repayment of gold loan	0	(3,698)	0
Proceeds from share options exercised	0	0	165
Net cash from/ (used in) financing activities	3,931	(12,754)	2,164
Net decrease in cash and cash equivalents	(12,461)	(14,467)	(2,648)
Effect of exchange rate fluctuations on cash and cash equivalents	(67)	(302)	(179)
Net cash and cash equivalents at the beginning of the year	1,496	16,265	19,092
Net cash and cash equivalents at the end of the year	(11,032)	1,496	16,265
Motapa [member]
Cash flows from financing activities
Repayments of term loans	$ (7,250)	$ 0	$ 0

Note 1 - Reporting Entity

Note 1 - Reporting Entity	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of general information about financial statements [text block]	1 Reporting entity Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) is a company domiciled in Jersey, Channel Islands. The Company’s registered office address is B006 These consolidated financial statements of the Company and its subsidiaries (the “Group”) comprise the consolidated statements of financial position as at December 31, 2023 2022, December 31, 2023, 2022 2021, Caledonia’s shares are listed on the NYSE American LLC stock exchange (symbol – “CMCL”). Depository interests in Caledonia’s shares are admitted to trading on AIM of the London Stock Exchange plc (symbol – “CMCL”). Caledonia listed on the Victoria Falls Stock Exchange (“VFEX”) (symbol – “CMCL”) on December 2, 2021. June 19, 2020. 2%

Note 2 - Basis of Preparation

Note 2 - Basis of Preparation	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of basis of preparation of financial statements [text block]	2 Basis of preparation i) Statement of compliance The consolidated financial statements have been prepared on a going concern basis, in accordance with IFRS Accounting Standards, as issued by the International Accounting Standards Board (“IFRS”). The consolidated financial statements were approved for issue by the Board of Directors on March 28, 2024. 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 assets and derivative financial liabilities measured at fair value. iii) Functional currency The consolidated financial statements are presented in United States Dollars (“$” or “US Dollars” or “USD”), which is also the functional currency of the Company. All financial information presented in US Dollars has been rounded to the nearest thousand, unless indicated otherwise. Refer to note 13

Note 3 - Use of Accounting Assu

Note 3 - Use of Accounting Assumptions, Estimates and Judgements	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of accounting judgements and estimates [text block]	3 Use of accounting assumptions, estimates and judgements In preparing these consolidated financial statements, management has made accounting assumptions, estimates and judgements that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may (a) Estimation uncertainties i) Depreciation of property, plant and equipment Depreciation on mine development, infrastructure and other assets in the production phase is computed on the units-of-production method over the life-of-mine based on the estimated quantities of reserves (proven and probable) and resources (measured, indicated and inferred), which are planned to be extracted in the future from known mineral deposits. Where mine development, infrastructure and other assets have a shorter useful life than the life-of-mine, they are depreciated over their useful life. Confidence in the existence, commercial viability and economical recovery of reserves and resources included in the life-of-mine may Refer to note 18 4 ii) Mineral reserves and resources Mineral reserves and resources are estimates of the amount of product that can be economically and legally extracted. In order to calculate the reserves and resources, estimates and assumptions are required about a range of geological, technical and economic factors, including but not may may The Group estimates its reserves (proven and probable) and resources (measured, indicated and inferred) based on information compiled by a Qualified Person in terms of the Canadian National Instrument 43 101 43 101” 1300 1300” ● correlation between drill-hole intersections where multiple reefs intersect; ● continuity of mineralisation between drill-hole intersections within recognised reefs; and ● appropriateness of the planned mining methods. 3 Use of accounting assumptions, estimates and judgements (continued) (a) Assumptions and estimation uncertainties (continued) ii) Mineral reserves and resources (continued) The Group estimates and reports reserves and resources in accordance with Subpart 1300 43 101 43 101 ● the gold price based on current market price and the Group’s assessment of future prices; ● estimated future on-mine costs, sustaining and non-sustaining capital expenditures; ● cut-off grade; ● dimensions and extent, determined both from drilling and mine development, of ore bodies; and ● planned future production from measured, indicated and inferred resources. Changes in reported reserves and resources may ● asset carrying values may ● depreciation and amortisation charges to profit or loss may ● decommissioning, site restoration and environmental provisions and resources which may iii) Impairment Non-financial assets At each reporting date, the Group determines if impairment indicators exist and, if present, performs an impairment review of the non-financial assets held in the Group. The exercise is subject to various assumptions and estimates. Refer to note 4 Non-derivative financial assets The Group uses a simplified approach in accounting for trade receivables and records the loss allowance as lifetime expected credit losses. When measuring expected credit losses, the Group uses reasonable and supportable forward-looking information, which is based on the assumptions for the future movement of different economic drivers and how these drivers will affect each other. Loss given default is an estimate of the loss arising on default. It is based on the expected shortfalls in contractual cash flows. The Group uses a provision matrix to calculate the probability of default, which includes historical data, assumptions and expectations of future conditions. 3 Use of accounting assumptions, estimates and judgements (continued) (a) Assumptions and estimation uncertainties (continued) iv) Share-based payment transactions Equity-settled share-based payment arrangements The Group measures the cost of equity-settled share-based payment transactions with employees, directors and Blanket Mine ( 1983 6 Where the Company granted the counterparty to a share-based payment award the choice of settlement in cash or shares, the equity component is measured as the difference between the fair value of the goods and services and the fair value of the cash-settled share-based payment liability at the date when the goods and services are received at the measurement date. For transactions with employees, the equity component is zero. Option pricing models require the input of assumptions, including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate. Therefore, the existing models may not Additional information about significant assumptions and estimates used to determine the fair value of equity-settled share-based payment transactions are disclosed in note 12.2. Cash-settled share-based payment arrangements The fair value of the amount payable to employees regarding share-based awards that will be settled in cash is recognised as an expense with a corresponding increase in liabilities over the period over which the employee becomes unconditionally entitled to payment. The liability is re-measured at each reporting date. Any change in the fair value of the liability is recognised in profit or loss. Additional information about significant assumptions and estimates used to determine the fair value of cash-settled share-based payment transactions are disclosed in note 12.1. v) Taxes Significant assumptions and estimates are required in determining the provision for income taxes. There are many transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain. In 2023, 20 “PN20” 20 37AA 23:06] Section 37AA 3 Use of accounting assumptions, estimates and judgements (continued) (a) Assumptions and estimation uncertainties (continued) v) Taxes (continued) Management believes they have adequately provided for the probable outcome of tax related matters; however, the final outcome or future outcomes anticipated in calculating the tax liabilities may may vi) Blanket Mine s indigenisation transaction The initial indigenisation transaction and modifications to the indigenisation transaction of Blanket Mine required management to make significant assumptions and estimates which are explained in note 6. vii) Exploration and evaluation ( E&E ) assets The Group also makes assumptions and estimates regarding the technical feasibility and commercial viability of its mineral projects and the possible impairment of E&E assets by evaluating whether it is likely that future economic benefits will flow to the Group, which may may may viii) Site restoration provision A site restoration provision has been calculated for the Blanket Mine and the Bilboes, Maligreen and Motapa projects based on an independent analysis of the rehabilitation costs as performed in 2023. may 29 3 Use of accounting assumptions, estimates and judgements (continued) (a) Assumptions and estimation uncertainties (continued) viii) Site restoration provision (continued) Also refer to note 29 (b) Judgements Judgement is required when assessing whether the Group controls an entity or not. 4 6. For judgement applied to: ● determine functional currency of entities in the Group and the use of the interbank rate of exchange to translate RTGS$, refer to note 13, ● impairments, refer to note 18 17.

Note 4 - Material Accounting Po

Note 4 - Material Accounting Policies	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of summary of significant accounting policies [text block]	4 Material accounting policies The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements. In addition, the accounting policies have been applied consistently by the Group. a) Basis of consolidation i) Subsidiaries and structured entities Subsidiaries and certain structured entities are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variability in returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. ii) Loss of control When the Group loses control over a subsidiary, it derecognises the assets and liabilities of the subsidiary, and any related Non-controlling interests (“NCI”) and other components of equity. Any gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost. iii) Non-controlling interests NCI is measured at their proportionate share of the carrying amounts of the acquiree’s identifiable net assets at fair value at the acquisition date. Changes in the Group’s interest in a subsidiary that do not iv) Transactions eliminated on consolidation Intra-group balances and transactions arising from intra-group transactions are eliminated. 4 Material accounting policies (continued) (b) Revenue i) Fidelity Gold Refinery (Private) Limited ( Fidelity ) and further refinement Revenue from the sale of precious metals at Blanket is recognised when the unrefined metal is accepted at the refinery (“Local lodgment date”) by Fidelity, except for the portion earmarked for export to a refiner outside of Zimbabwe. Control is transferred and the receipt of proceeds is substantially assured at point of delivery at the end refiner with the responsibility to pay. Revenue for each delivery to Fidelity is measured at the London Base Metal Association price post-delivery less 1.25% and the quantities are determined on Local lodgment date. On average, settlement occurs within 14 days of delivery from Fidelity and within 2 days from Al Etihad Gold Refinery DMCC. A portion of unrefined metals produced by Blanket is exported by Caledonia to Al Etihad Gold Refinery DMCC (“AEG” an accredited Dubai Good Delivery refinery), which makes payment to Caledonia's bank account in Zimbabwe in USD. The exported unrefined gold continues to be processed at Fidelity, a subsidiary of the Reserve Bank of Zimbabwe (“RBZ”), on a toll-treatment basis, in accordance with requirements of the Zimbabwe government for in-country refining and to allow the Zimbabwe authorities full visibility over the gold produced and exported by Caledonia. The resultant gold is exported under the gold dealing licence that is held by Fidelity to a refinery outside Zimbabwe which undertakes the final refining process. Caledonia receives the proceeds of the gold that it exports in its bank account in Zimbabwe within a few days of delivery to the final refiner. This arrangement in respect of production from Blanket complies with the current requirements to pay a 5% royalty on gold sales and 1.25% of gross sales which is payable to the Zimbabwean Government and deducted from USD and RTGS$ revenues proportionately. For deliveries exported and for deliveries that are paid by Fidelity, Blanket continues to receive 75% of its revenues in US Dollars and the balance in local currency. Revenue for the unrefined metals exported to a refiner outside Zimbabwe from the sale of precious metals is recognised when the refiner outside of Zimbabwe receives the unrefined metals (“Export lodgment date”). Control is transferred and the receipt of proceeds is substantially assured at the point of delivery. Export lodgment date revenue for each delivery is measured at the London Base Metal Association price post-delivery less a refining fee and the quantities are determined on Export lodgment date. On average settlement occurs within two Revenue from the sale of precious metals at Bilboes is recognised when the unrefined metal is accepted at the refinery (“Local lodgment date”) by Fidelity. Control is transferred and the receipt of proceeds is substantially assured at point of delivery at the end refiner with the responsibility to pay. Revenue for each delivery to Fidelity is measured at the London Base Metal Association price post-delivery less 1.25% and the quantities are determined on Local lodgment date. Part of the Bilboes revenue during the year was recognised from sales to Fidelity as a “small-scale producer”, measured at the previous day’s 6pm 4 Material accounting policies (continued) (c) Impairment i) Expected credit losses on financial assets The Group applies the IFRS 9 not 48 December 31, 90 90 no no ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets are reviewed at each reporting date to determine whether there is any indication of impairment. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit” or “CGU”). The Group’s corporate assets do not may An impairment loss is recognised if the carrying amount of a CGU exceeds its estimated recoverable amount. Impairment losses recognised in respect of CGUs are allocated to reduce the carrying amount of assets in the unit (group of units) on a pro rata basis. Impairment losses recognised in prior years are assessed at each reporting date for any indications that the loss has decreased or no not no 4 Material accounting policies (continued) (c) Impairment (continued) iii) Impairment of Exploration and evaluation ( E&E ) assets The test for impairment of E&E assets can combine several CGUs as long as the combination is not E&E assets are assessed for impairment only when facts and circumstances suggest that the carrying amount of an E&E asset may ● The entity's right to explore in the specific area has expired or will expire in the near future and is not ● Substantive expenditure on further E&E activities in the specific area is neither budgeted nor planned in future. ● The entity has not ● Even if development is likely to proceed, the entity has sufficient data indicating that the carrying amount of the asset is unlikely to be recovered in full from successful development or by sale. (d) Share-based payment transactions i) Equity-settled share-based payments to employees and directors The grant date fair value of equity-settled share-based payment awards granted to employees and directors is recognised as an expense, with a corresponding increase in equity, over the vesting period of the award. The amount recognised as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that meet the related service and non-market vesting conditions at the vesting date. Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in profit or loss. Additional information about significant judgements, estimates and the assumptions used to estimate the fair value of equity-settled share-based payment transactions are disclosed in note 12.2. ii) Cash-settled share-based payments to employees and directors The grant date fair value of cash-settled awards granted to employees and directors is recognised as an expense, with a corresponding increase in the liability, over the vesting period of the awards. At each reporting date the fair value of the awards is re-measured with a corresponding adjustment to profit or loss. Additional information about significant judgements, estimates and the assumptions used to estimate the fair value of cash-settled share-based payment transactions are disclosed in note 12.1. 4 Material accounting policies (continued) (e) Foreign currency i) Foreign operations As stated in note 2 ● assets and liabilities are translated using the exchange rate at year end; and ● income, expenses and cash flow items are translated using the rate that approximates the exchange rates at the dates of the transactions. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognised in Other Comprehensive Income (“OCI”). If settlement is planned or likely in the foreseeable future, foreign exchange gains and losses are included in profit or loss. When settlement occurs, the settlement will not not When the Group disposes of its entire interest in a foreign operation or loses control over a foreign operation, the foreign currency gains or losses accumulated in OCI related to the foreign operation are reclassified to profit or loss. If the Group disposes of part of an interest in a foreign operation which remains a subsidiary, a proportionate amount of foreign currency gains or losses accumulated in OCI related to the subsidiary are reattributed between controlling and non-controlling interests. All resulting translation differences are reported in OCI and accumulated in the foreign currency translation reserve. ii) Foreign currency translation In preparing the financial statements of the Group entities, transactions in currencies other than the functional currency (foreign currencies) of these Group entities are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities are translated using the current foreign exchange rate. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All gains and losses on translation of these foreign currency transactions are included in profit or loss for the year. On October 1, 2018 1:1 February 20, 2019 1 2022: 2021: 1 December 31, 2023. 4 Material accounting policies (continued) (e) Foreign currency (continued) ii) Foreign currency translation (continued) Further, the RBZ issued a directive to Zimbabwean banks to separate foreign currency and RTGS$ for bank accounts held by clients on October 1, 2018. November 12, 2018 May 26, 2020 January 8, 2021 February 3, 2023 June 15, 2021. In June 2021 July 1, 2021 February 3, 2023 75%:25% In applying IAS 21, ● the majority of revenue is received in US Dollars; ● the gold price receivable was calculated in US Dollars; ● the majority of costs are calculated by reference to the US Dollars if denominated in RTGS$ or is paid in US Dollars; and ● Income tax liabilities calculated in RTGS$ are settled predominantly in US Dollars. The application of IAS 21, 142 (f) Finance income and finance cost Finance income comprises interest income on funds invested. Finance income is recognised as it accrues in profit or loss, using the effective interest method. Finance cost comprise interest expense on the rehabilitation provisions, interest on bank overdraft balances, effective interest on leases, loans and borrowings and also includes commitment costs on overdraft facilities. Finance cost is recognised in profit or loss using the effective interest rate method and excludes borrowing costs capitalised. 4 Material accounting policies (continued) (g) Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred and recognised as finance cost. (h) Taxes i) Income tax Tax expense comprises current and deferred tax. These expenses are recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. ii) Current tax Current tax is the tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date. Current tax includes withholding tax on management fees and dividends paid between companies within the Group. iii) Deferred tax Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not Deferred tax is a monetary item measured at the tax rates and in the currency that are expected to be applied when temporary differences reverse. The tax and exchange rates are based on the laws that have been enacted, substantively enacted or the interbank exchange rates that prevail at the reporting date. A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no 4 Material accounting policies (continued) (i) Earnings per share The Group presents basic and diluted earnings per share (“EPS”) data for its shares. Basic EPS is calculated by dividing the adjusted profit or loss attributable to shareholders of the Group (see note 27 (j) Property, plant and equipment i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, borrowing costs on qualifying assets, the costs of dismantling and removing the items and restoring the site on which they are located. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and are recognised in profit or loss. Refer to note 4 ii) Subsequent costs The cost of replacing a part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group, and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. iii) Depreciation Depreciation is calculated to write off the depreciable amount, which is the cost of an asset, or other amount substituted for cost, less its residual value. When the asset is ready for use in the manner intended by management, depreciation of mine development, infrastructure and other assets is calculated on the unit-of-production method using the measured, indicated and estimated economical inferred mineral resources in Blanket’s life-of-mine plan (“LoMP”). Resources that are not not For other categories, depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Mineral resources and reserves categorised and reported in compliance with the definitions embodied in the CIM Definition Standards as incorporated into the NI 43 101 1300 Inferred mineral resources are considered in the LoMP to the extent these mineral resources are above the cut-off, economically viable and of sufficient confidence, are expected to be upgraded and form part of eventual extraction and as a result are included in the calculation of depreciation. Refer to note 18 4 Material accounting policies (continued) (j) Property, plant and equipment (continued) iii) Depreciation (continued) Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. An inferred mineral resource has a lower level of confidence than that applied to an indicated mineral resource. An indicated mineral resource has a higher level of confidence than an inferred mineral resource but has a lower level of confidence than a measured mineral resource. Mineral resources in the measured and indicated mineral resource classifications have been converted into proven and probable mineral reserves respectively, by applying the applicable modifying factors and reasonable prospects of economic extraction. Land is not The calculation of the production rate units could be affected to the extent that actual production in the future is different from the current forecast production. This would generally result from the extent to which there are significant changes in any of the factors or assumptions used in estimating mineral reserves and resources. These factors include: ● changes in mineral reserves and resources; ● differences between actual commodity prices and commodity price assumptions; ● unforeseen operational issues at mine sites; and ● changes in capital, operating, mining, processing and reclamation costs, discount rates and foreign exchange rates. The estimated useful lives for 2023, 2022 2021 ● buildings 10 to 15 years; ● plant and equipment 5 to 10 years; ● fixtures and fittings including computers 4 to 10 years; ● motor vehicles 4 years; ● right of use assets 3 to 6 years (determined by lease term); and ● mine development, infrastructure and other assets in production, units-of-production method. Depreciation methods, useful lives and residual values are reviewed each financial year and adjusted if appropriate. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Assets under construction’s useful life and residual values will be assessed once the asset is available for use. Refer to note 18 (k) Exploration and evaluation assets Qualifying exploration costs are capitalised as incurred. Costs incurred before the legal rights to explore are obtained are recognised in profit or loss. The costs related to speculative drilling on unestablished orebodies at the Blanket Mine, general administrative or overhead costs are expensed as incurred. Exploration and evaluation costs capitalised are disclosed under Exploration and evaluation assets. Qualifying direct expenditures include such costs as mineral rights, options to acquire mineral rights, materials used, surveying costs, drilling costs, payments made to contractors, direct administrative costs and depreciation on property, plant and equipment during the exploration phase. 4 Material accounting policies (continued) (k) Exploration and evaluation assets (continued) Costs not Once the technical feasibility and commercial viability of extracting the mineral resource have been determined, the property is considered to be a mine under development and moved to the mine development, infrastructure and other asset category within property, plant and equipment. Capitalised direct costs related to the acquisition, exploration and development of mineral properties remain capitalised, at their initial cost, until the properties to which they relate are ready for their intended use, sold, abandoned or management has determined there to be impairment. Exploration and evaluation assets are tested for impairment at least annually, and before the assets are transferred to mine development, infrastructure and other assets or when an indicator of impairment is identified. Exploration and evaluations assets are not (l) Inventories Consumable stores are measured at the lower of cost and net realisable value. The cost of consumable stores is based on the weighted average cost principle. It includes expenditure incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Gold in process is measured at the lower of cost and net realisable value. The cost of gold in process includes an appropriate share of production overheads based on normal operating capacity and is valued on the weighted average cost principle. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. (m) Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with original maturities of three (n) Assets and liabilities associated with assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are generally measured at the lower of their carrying amount or fair value less costs to sell. Impairment losses on initial classification as held for sale or held for distribution and subsequent gains and losses on remeasurement are recognised in profit or loss. Once classified as held for sale property, plant and equipment are no 4 Material accounting policies (continued) (o) Financial instruments i) Financial assets The Group had the following financial assets: Financial assets at amortised cost Financial assets at amortised cost comprise trade receivables. Such assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses. A trade receivable without a significant financing component is initially measured at the transaction price. Refer to note 4 Fair value through profit or loss This category comprises the Gold ETF, gold hedge and Put options. These instruments are carried at fair value with changes in fair value recognised in profit or loss as fair value losses on derivative financial instruments. Transaction costs are recognised in profit or loss immediately when incurred. The Group does not 14. ii) Financial liabilities The Group classifies its financial liabilities into one two Fair value through profit or loss Derivatives are recognised initially at fair value; attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value. This category comprises the Gold loan, Put options and the Call options. Estimations made and further information is in note 14. Financial liabilities at amortised cost Non-derivative financial liabilities are recognised initially on the date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognises a financial liability when its contractual obligations are discharged, cancelled or expire. Non-derivative financial liabilities consist of bank overdrafts, loans and borrowings and trade and other payables. Such financial liabilities are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortised cost using the effective interest method. Offsetting Financial assets and liabilities are offset and the net amount is presented in the statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. 4 Material accounting policies (continued) (p) Share capital Share capital is classified as equity. Incremental costs directly attributable to the issue, consolidation and repurchase of fractional items of shares and share options are recognised as a deduction from equity, net of any tax effects. (q) Provisions A provision is a liability of uncertain timing and amount. A liability is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability if the time value of money is considered significant. The unwinding of the discount is recognised as a finance cost. (r) Site restoration The Group recognises liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of property, plant and equipment and exploration and evaluation assets, when those obligations result from the acquisition, construction, development or normal operation of these assets. Production phase restoration costs are recognised at the net present value of future rehabilitation cost estimates arising from the decommissioning of plant and other site preparation work is capitalised to mineral properties along with a corresponding increase in the rehabilitation provision in the period incurred. Future rehabilitation costs are discounted using a pre-tax risk-free rate that reflects the time-value of money. For assets in the exploration and the evaluation phase the restoration costs are recognised at the undiscounted current cost. The Group’s estimates of rehabilitation costs, which are reviewed annually, could change as a result of changes in regulatory requirements, discount rates, effects of inflation and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to mineral properties with a corresponding entry to the rehabilitation provision. The periodic unwinding of the discount shall be recognised in the profit or loss as a finance costs. (s) Leases The Group recognises a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right of use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right of use asset reflects that the Group will exercise a purchase option. In that case the right of use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as property, plant and equipment. Also, the right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. 4 Material accounting policies (continued) (s) Leases (continued) The lease liability is initially measured at the present value of the lease payments that are not The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: ● fixed payments, including in-substance fixed payments; ● amounts expected to be payable under a residual value guarantee; and ● the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if the lease agreement changes in substance in terms of payment. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right of use asset or is recorded in profit or loss if the carrying amount of the right of use asset has been reduced to zero. The Group presents the right of use assets as property, plant and equipment. Lease liabilities are presented separately in the statement of financial position as current- and non-current lease liabilities. The Group has elected not 4 Material accounting policies (continued) (t) Employee benefits i) Short-term employee benefits Short-term employee benefits are expensed when the related services are provided. A liability is recognised for the amount expected to be paid, in respect of salaries, annual leave, bonusses and severance packages, if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. ii) Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no 12 4 Material accounting policies (continued) (u) Standards issued but not The following standards, amendments to standards and interpretations to existing standards may Standard/ Interpretation Effective date * Classification of Liabilities as Current or Non-current – Amendments to IAS 1 Non-current Liabilities with Covenants – Amendments to IAS 1 Amendments made to IAS 1 2020 2022 Covenants of loan arrangements will not 12 ● the carrying amount of the liability, ● information about the covenants, and ● facts and circumstances, if any, that indicate that the entity may The amendments also clarify what IAS 1 8 Accounting Policies, Changes in Accounting Estimates and Errors 2020 The Group has completed its assessment of the impact of the above standards and concluded that the standard amendments would not January 1, 2024 4 Material accounting policies (continued) (u) Standards issued but not The following standards, amendments to standards and interpretations to existing standards may Standard/ Interpretation Effective date * General requirements for Disclosure of Sustainability-related financial information – IFRS S1 Climate-related Disclosures – IFRS S2 IFRS S1 IFRS S2 In the first S1, S2 The Group has completed its assessment of the impact of the above standards and concluded that the standard amendments would not January 1, 2024 Lack of exchangeability – IAS 21 The International Accounting Standards Board has published amendments to IAS 21 not. Applying the amendments, a currency is exchangeable when an entity is able to exchange that currency for the other currency through market or exchange mechanisms that create enforceable rights and obligations without undue delay at the measurement date and for a specified purpose. However, a currency is not no When a currency is not Management is investigating the potential impact of the standard to be amended. January 1, 2025 * New standards, amendmen

Note 5 - Tribute Arrangement an

Note 5 - Tribute Arrangement and Mining Agreement and Bilboes Gold Limited Acquisition	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of Bilboes [text block]	5 Tribute Arrangement and Mining Agreement and Bilboes Gold Limited acquisition On July 21, 2022 In terms of the tribute agreement, Bilboes Holdings granted CHZ the right to mine the Bilboes oxide mine operations for the purpose of extracting and selling gold. In terms of this right, CHZ could operate the Bilboes oxide mine using a combination of Bilboes’ resources and their own, for CHZ’s account. Subject to the stipulation in the tribute agreement, CHZ assumed all responsibility in connection with the oxide mining claims as if CHZ were the owner thereof and Bilboes Holdings remained the registered holder of the mining claims until ownership passes in terms of the Sale and Purchase Agreement, mentioned below. In terms of the tribute agreement, CHZ had the right to provide instructions over the scope of works for the Bilboes oxide mine in terms of an operational plan and also had the right to terminate the tribute agreement. CHZ, therefore, had the ability to affect the variable returns of the Bilboes oxide mine and to ensure its returns were in line with the expectation of recouping its “investment” (all funds provided) at a 25% internal rate of return. The tribute agreement came into effect on August 1, 2022, The Bilboes oxide mine did not not 3 December 31, 2022 On June 27, 2023 September 2023 no In addition to the tribute arrangement, Caledonia signed a conditional agreement (the “Sale and Purchase Agreement”) to purchase 100% July 21, 2022. one On January 6, 2023, 5 Tribute Arrangement and Mining Agreement and Bilboes Gold Limited acquisition (continued) The acquisition of Bilboes Gold was classified as an asset and liability acquisition as there were no not 3 Upon completion of the transaction on January 6, 2023, three The escrow consideration shares of 441,095 common shares of Caledonia were issued to one March 30, 2023, Deferred consideration shares of 256,152 common shares of Caledonia were issued to the sellers on April 11, 2023. US$65.677 US$12.82 Consideration paid $'000 Equity issued 65,677 Initial consideration shares issued ( 4,425,797 12.82 56,739 Escrow shares issued ( 441,095 12.82 5,655 Deferred consideration shares issued ( 256,152 12.82 3,283 Bilboes oxide mine assets (pre-acquisition) (872 ) Prepayments - Bilboes pre-effective date costs 877 Total net consideration 65,682 Recognised amounts of identifiable assets and liabilities assumed (January 6, 2023) Exploration and evaluation assets (note 17) 73,198 Inventories 70 Prepayments 5 Trade and other receivables 802 Cash and cash equivalents 54 Provisions (4,466 ) Trade and other payables - external (3,943 ) Lease liabilities (28 ) Income tax payable (10 ) 65,682 Acquisition-related costs Included in administrative costs is an amount of $3.1 million payable to two

Note 6 - Blanket Zimbabwe Indig

Note 6 - Blanket Zimbabwe Indigenisation Transaction	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the Blanket Zimbabwe indigenisation transaction [text block]	6 Blanket Zimbabwe Indigenisation Transaction On February 20, 2012 51% ● sold a 16% interest to the National Indigenisation and Economic Empowerment Fund (“NIEEF”) for $11.74 million; ● sold a 15% interest to Fremiro Investments (Private) Limited (“Fremiro”), which is owned by indigenous Zimbabweans, for $11.01 million; ● sold a 10% interest to Blanket Employee Trust Services (Private) Limited (“BETS”) for the benefit of present and future managers and employees for $7.34 million. The shares in BETS are held by the Blanket Mine Employee Trust (“Employee Trust”) with Blanket Mine’s employees holding participation units in the Employee Trust; and ● donated a 10% ownership interest to the Gwanda Community Share Ownership Trust (“Community Trust”). In addition, Blanket Mine paid a non-refundable donation of $1 million to the Community Trust. The Group facilitated the vendor funding of these transactions which is repaid by way of dividends from Blanket Mine. 80% of dividends declared by Blanket Mine are used to repay such loans and the remaining 20% unconditionally accrues to the respective indigenous shareholders. Following a modification to the interest rate on June 23, 2017, Accounting treatment The directors of Caledonia Holdings Zimbabwe (Private) Limited (“CHZ”), a wholly-owned subsidiary of the Company, performed an assessment using the requirements of IFRS 10: 10 6 Blanket Zimbabwe Indigenisation Transaction (continued) Accounting treatment The subscription agreements, concluded on February 20, 2012, ● Non-controlling interests (“NCI”) were recognised on the portion of shareholding upon which dividends declared by Blanket Mine will accrue unconditionally to equity holders as follows: (a) 20% of the 16% shareholding of NIEEF; (b) 20% of the 15% shareholding of Fremiro; and (c) 100% of the 10% shareholding of the Community Trust. ● This effectively means that NCI was initially recognised at 16.2% of the net assets of Blanket Mine, until the completion of the transaction with Fremiro, whereby the NCI reduced to 13.2% (see below). ● The remaining 80% of the shareholding of NIEEF and Fremiro was recognised as NCI to the extent that their attributable share of the net asset value of Blanket Mine exceeds the balance on the facilitation loans, including interest. ● The transaction with BETS is accounted for in accordance with IAS 19 Employee Benefits not 10% ● BETS is an entity effectively controlled and consolidated by Blanket Mine. Accordingly, the shares held by BETS are effectively treated as treasury shares in Blanket Mine and no Fremiro purchase agreement On November 5, 2018 January 20, 2020 15% Blanket Mine s indigenisation shareholding percentages and facilitation loan balances Effective NCI subject to Balance of facilitation loan # USD Shareholding facilitation December 31, December 31, NIEEF 16 % 3.2 % 12.8 % 8,489 9,414 Community Trust 10 % 10.0 % 0.0 % – – BETS ~ 10 % -* -* 4,908 5,612 36 % 13.2 % 12.8 % 13,397 15,026 * The shares held by BETS are effectively treated as treasury shares (see above). ~ Accounted for under IAS19 Employee Benefits. # Facilitation loans are accounted for as equity instruments and are accordingly not 6 Blanket Zimbabwe Indigenisation Transaction (continued) Accounting treatment (continued) The balance on the facilitation loans is reconciled as follows: 2023 2022 Balance at January 1 15,026 16,712 Interest incurred 259 580 Dividends used to repay loan (1,888 ) (2,266 ) Balance at December 31 13,397 15,026 Advance dividend loans and balances In anticipation of completing the underlying subscription agreements, Blanket Mine agreed to advance dividend arrangements with NIEEF and the Community Trust. Advances made to the Community Trust against their right to receive dividends declared by Blanket Mine on their shareholding were as follows: ● a $2 million payment on or before September 30, 2012; ● a $1 million payment on or before February 28, 2013; ● a $1 million payment on or before April 30, 2013. These advance payments were debited to a loan account bearing interest at a rate at the lower of a fixed 7.25% 2013 2014. not September 22, 2021.

Note 7 - Capital Management

Note 7 - Capital Management	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of objectives, policies and processes for managing capital [text block]	7 Capital management When managing capital, the Group’s objectives are to safeguard its ability to continue as a going concern in order to pursue the mining operations and exploration potential of the mineral properties. The Group’s capital includes shareholders’ equity, comprising issued share capital (refer to note 25 26 23 28 2023 2022 Total equity 264,192 193,459 The Group’s primary objective regarding its capital management is to ensure that it has sufficient cash resources to maintain its on-going operations, provide returns for shareholders, accommodate any rehabilitation provisions and pursue growth opportunities. It assesses its short term needs and funds these by available cash, overdrafts and short to medium term loans. Capital requirements for future project are evaluated on a case-by-case basis. As at December 31, 2023, no

Note 8 - Revenue

Note 8 - Revenue	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of revenue [text block]	8 Revenue Blanket Bilboes Total 2023 2022 2021 *2023 2023 2022 2021 Revenue 140,615 142,082 121,329 5,699 146,314 142,082 121,329 Revenue - silver sales 114 116 122 4 118 116 122 Revenue - gold sales 140,501 141,966 121,207 5,695 146,196 141,966 121,207 Total ounces gold sold 73,482 80,094 68,617 3,050 76,532 80,094 68,617 Net work in progress (oz) 1,934 681 (1,141 ) – 1,934 681 (1,141 ) Gold produced (oz) 75,416 80,775 67,476 3,050 78,466 80,775 67,476 Tonnes milled 770,440 752,033 665,628 154,040 924,480 752,033 665,628 Grade (g/t) 3.25 3.56 3.36 1.15 Recovery (%) 93.8 93.8 93.9 54.0 Realised gold price ($/oz) 1,912 1,772 1,766 1,867 1,910 1,772 1,766 * Bilboes Holdings was acquired on January 6, 2023. No 2022 2021.

Note 9 - Production Costs

Note 9 - Production Costs	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of cost of sales [text block]	9 Production costs 2023 2022 2021 Blanket Mine 69,591 62,998 53,126 Salaries and wages 25,042 23,037 20,609 Consumable materials 24,087 23,601 17,375 Consumable materials – COVID-19 – 311 297 Electricity costs 13,496 9,634 10,407 Safety 1,155 998 774 Cash-settled share-based expense (note 12.1(a)) 637 853 692 On mine administration 2,783 2,736 1,806 Security 1,020 1,093 826 Solar operations and maintenance services 647 – – Obsolete inventory 283 563 36 Pre-feasibility exploration costs 441 172 304 Bilboes 13,118 – – Salaries and wages 2,796 – – Consumable materials 8,402 – – Electricity costs 553 – – Cash-settled share-based expense (note 12.1(a)) 23 – – On mine administration 1,344 – – 82,709 62,998 53,126

Note 10 - Other Expenses

Note 10 - Other Expenses	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of other operating expense [text block]	10 Other expenses 2023 2022 2021 Intermediated Money Transaction Tax * 1,266 1,378 799 COVID-19 donations – – 74 Community and social responsibility cost 1,504 898 1,167 Impairment of property, plant and equipment (note 18) 877 8,209 498 Impairment of exploration and evaluation assets (note 17) – 467 3,837 Impairment Solar - VAT and duty receivables (note 21) 720 – – Bilboes pre-acquisition cost – 830 – Expected credit losses on deferred consideration on the disposal of subsidiary – – 761 4,367 11,782 7,136 * Intermediated Money Transfer Tax ("IMTT”) is tax chargeable in Zimbabwe on transfer of physical money, electronically or by any other means, between two 2% 1% Cost incurred by CHZ between the effective date ( August 1, 2022) December 1, 2022) not

Note 11 - Administrative Expens

Note 11 - Administrative Expenses	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of general and administrative expense [text block]	11 Administrative expenses 2023 2022 2021 Investor relations 576 663 439 Audit fee 396 294 267 Advisory services fees 4,406 1,459 614 Listing fees 749 512 609 Directors fees – Company 571 569 527 Directors fees – Blanket 61 56 51 Employee costs – salaries and bonusses 6,734 5,855 5,462 Employee costs – settlements 1,784 – – Other office administration cost 445 468 177 Information technology and communication cost – Group related 241 391 178 Management liability insurance 897 985 551 Travel costs 569 689 216 17,429 11,941 9,091

Note 12 - Share-based Payments

Note 12 - Share-based Payments	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of share-based payment arrangements [text block]	12 Share-based payments 12.1 Cash-settled share-based payments (a) Restricted Share Units and Performance Units Certain management and employees within the Group are granted Restricted Share Units (“RSUs”) and Performance Units (”PUs”) pursuant to provisions of the 2015 RSUs vest three PUs have a performance condition based on gold production and, in recent awards, average normalised controllable cost per ounce of gold and a performance period of one three RSU holders are entitled to receive dividends over the vesting period. Such dividends will be reinvested in additional RSUs at the then applicable share price. PUs have rights to dividends only after they have vested. RSUs and PUs allow for settlement of the vesting date value in cash or, subject to conditions, shares issuable at fair market value or a combination of both at the discretion of the unitholder. The fair value of the RSUs at the reporting date was based on the Black Scholes option valuation model less the fair value of the expected dividends during the vesting period multiplied by the performance multiplier expectation. The fair value of the PUs at the reporting date was based on the Black Scholes option valuation model. At the reporting date it was assumed that there is a 93% 100% 2022: The liability as at December 31, 2023 December 31, 2022: December 31, 2023 2022: 2021: 9. 12 Share-based payments (continued) 12.1 Cash-settled share-based payments (continued) (a) Restricted Share Units and Performance Units (continued) The cash-settled share-based expense for PUs for the period amounted to $463 ( 2022: 2021: 2022: 2021: $Nil The following assumptions were used in estimating the fair value of the cash-settled share-based payment liability on December 31: December 31, 2023 December 31, 2022 RSUs PUs RSUs PUs Risk free rate – 3.88 % 3.88 % 3.88 % Fair value (USD) – 12.20 12.52 12.42 Share price (USD) – 12.20 12.40 12.42 Performance multiplier percentage – 93-100 % – 93-100 % Volatility – 0.90 1.29 0.91 Share units granted: RSUs PUs RSUs PUs Grant - January 11, 2019 – – – 95,740 Grant - March 23, 2019 – – – 28,287 Grant - June 8, 2019 – – – 14,672 Grant - January 11, 2020 17,585 69,678 17,585 114,668 Grant - March 31, 2020 – 696 – 1,971 Grant - June 1, 2020 – – – 1,740 Grant - September 9, 2020 – 697 – 1,611 Grant - September 14, 2020 – 5,300 – 20,686 Grant - October 5, 2020 – 230 – 514 Grant - January 11, 2021 – 56,244 – 78,875 Grant - April 1, 2021 – – – 770 Grant - May 14, 2021 – 964 – 2,389 Grant - June 1, 2021 – 1,310 – 1,692 Grant - June 14, 2021 – 398 – 507 Grant - August 13, 2021 – – – 2,283 Grant - September 1, 2021 – – – 553 Grant - September 6, 2021 – 458 – 531 Grant - September 20, 2021 – 460 – 526 Grant - October 1, 2021 – 1,016 – 2,530 Grant - October 11, 2021 – 450 – 500 Grant - November 12, 2021 – 1,846 – 1,998 Grant - December 1, 2021 – 900 – 936 Grant - January 11, 2022 – 75,198 – 96,359 Grant - January 12, 2022 – 825 – 825 Grant - May 13, 2022 – 2,040 – 2,040 Grant - June 1, 2022 – 1,297 – 1,297 Grant - July 1, 2022 – 2,375 – 2,375 Grant - October 1, 2022 – 2,024 – 2,024 Grant - April 7, 2023 – 79,521 – – Grant - May 15, 2023 – 581 – – Grant - June 1, 2023 – 617 – – Grant - June 7, 2023 – 572 – – Grant - August 10, 2023 – 5,514 – – Grant - September 1, 2023 – 1,617 – – Grant - October 3, 2023 – 14,258 – – RSU dividends reinvested 1,980 – 1,980 – Settlements/terminations (19,565 ) (144,772 ) – (254,491 ) Total awards outstanding - 182,314 19,565 224,408 12 Share-based payments (continued) 12.2 Equity-settled share-based payments (a) EPUs PUs which are classified as equity-settled (i.e. there is no three EPUs have rights to dividends only after they have vested. The shares issued are subject to a minimum holding period of until at least the first The fair value of the EPUs at the reporting date was based on the Black Scholes option valuation model less the fair value of the expected dividends during the vesting period multiplied by the performance percentage. At the reporting date it was assumed that there is a 100% probability that the performance conditions will be met and therefore a 100% performance multiplier was used in calculating the expense. The equity-settled share-based expense for EPUs as at December 31, 2023 2022: 2021: $Nil The following assumptions were used in estimating the fair value of the equity-settled share-based payment on: Grant date January 24, 2022 April 7, 2023 Number of units – remaining at reporting date 113,693 80,773 Share price (USD) - grant date 11.50 16.91 Fair value (USD) - grant date 10.15 15.33 Performance multiplier percentage at grant date 100 % 100 % (b) Share option programs The maximum term of the options under the OEICP is ten may not December 31, 2023 3PPB The fair value of share-based payments noted above was estimated using the Black-Scholes valuation model as the fair value of the services could not not The equity-settled share-based expense relating to grants amounted to $Nil 2022: 2021: $Nil

Note 13 - Net Foreign Exchange

Note 13 - Net Foreign Exchange Gain	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of effect of changes in foreign exchange rates [text block]	13 Net foreign exchange (loss) gain On October 1, 2018 1:1 February 20, 2019 1 1 December 31, 2023 ( December 31, 2022: In June 2021 July 1, 2021. December 2021, On February 3, 2023, RY002/2023 February 6, 2023, February 1, 2023. On April 5, 2024 The table below illustrates the effect the weakening of the RTGS$ and other foreign currencies had on the consolidated statement of profit or loss. 2023 2022 2021 Unrealised foreign exchange gain 4,217 12,736 2,755 Realised foreign exchange loss* (6,767 ) (8,325 ) (1,571 ) Net foreign exchange (loss) gain (2,550 ) 4,411 1,184 * Realised foreign exchange losses were predominantly recognised on bullion sales receivables, bank balances and RTGS$ VAT. ** After December 31, 2023 6,105:USD 1 20,945:USD 1 March, 25 2024. 1, 2024.

Note 14 - Derivative Financial

Note 14 - Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of hedge accounting [text block]	14 Derivative financial instruments The fair value of derivative financial instruments not not Derivative financial instrument expenses 2023 2022 2021 Put options 14.1(a) 1,097 38 – Gold purchase options 14.2(a) 22 – – Gold loan 14.2(b) – (228 ) 21 Call options (December 13, 2021) 14.2(b) – (240 ) – Cap and collar options and Call options 14.2(c) – 832 114 Call options transaction costs (March 9, 2022) 14.2(c) – 796 – Gold exchange-traded fund ("Gold ETF") – – 105 1,119 1,198 240 Cash flows arising from investing activities Acquisition of Put options 14.1(a) (946 ) (478 ) – Proceeds from derivative financial liabilities – Gold purchase options 14.2(a) 178 – – Proceeds from derivative financial assets - Gold ETF – – 1,066 (768 ) (478 ) 1,066 Cash flows arising from financing activities Gold loan (repayment) proceeds 14.2(b) – (3,698 ) 2,752 Call options (December 13, 2021) proceeds 14.2(b) – – 208 Call options (March 9, 2022) acquisition 14.2(c) – (176 ) – Call options (March 9, 2022) proceeds 14.2(c) – 416 – – (3,458 ) 2,960 14.1 Derivative financial assets 2023 2022 Put options 14.1(a) 88 440 88 440 (a) Put options On December 19, 2023 three January March 2024 On September 29, 2023 October 6, 2023 two On May 22, 2023 seven June December 2023 On December 22, 2022 five December May 2023 14 Derivative financial instruments (continued) 14.1 Derivative financial assets (continued) (a) Put options (continued) The put options (together “the Put options”) were classified as level 1 On March 7, 2024 three April June 2024 On April 10, 2024 three July September 2024 14.2 Derivative financial liabilities 2023 2022 Gold purchase options 14.2(a) – – Gold loan 14.2(b) – – Call options (December 13, 2021) 14.2(b) – – Cap and collar options and Call options 14.2(c) – – – – (a) Gold purchase options On September 29, 2023 October 6, 2023 two October 26, 2023 October 2023 (b) Gold loan and Call options On December 13, 2021 two In terms of the agreements the Group: ● received $3 million less transaction costs from Auramet at inception of the gold loan agreement (the “Gold loan”); ● is required to make two deliveries of 925 ounces each on May 31, 2022 June 30, 2022 ● granted call options (the “Call options”) on 6,000 ounces to Auramet with a strike price of $2,000 per ounce, expiring monthly in equal monthly tranches from June 30, 2022 November 30, 2022. 14 Derivative financial instruments (continued) 14.2 Derivative financial liabilities (continued) (b) Gold loan and Call options (continued) Accounting for the Gold loan and the Call options transactions: ● At inception the fair value of the Gold loan was calculated at the amount received less the fair value of the Call options. ● As at March 31, 2022 ● At inception and at March 31, 2022 ● Differences in the fair values were accounted for as Fair value losses on derivative financial instruments in the consolidated statement of profit or loss and other comprehensive income. ● The Call options were classified as level 1 2. ● Derivative liabilities are not Proceeds received under the Gold loan and Call options agreements were allocated as follows: December 13, 2021 Net proceeds received 2,960 Fair value of Call options 208 Fair value of Gold loan 2,752 The Gold loan was settled in full on June 30, 2022. September 30, 2022, October 31, 2022 November 30, 2022. (c) Cap and collar options and Call options On February 17, 2022 zero March July 2022. On March 9, 2022 March 2022 May 2022 June 2022 July 2022 In April, 2022 April 2022. 2022 The Cap and collar options and Call options were classified as level 1

Note 15 - Finance Income and Fi

Note 15 - Finance Income and Finance Cost	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of finance income (cost) [text block]	15 Finance income and finance cost 2023 2022 2021 Finance income received - Bank 39 17 14 Unwinding of rehabilitation provision (note 29) 109 132 – Finance cost - Leases (note 19) 22 31 24 Zimbabwe Electricity Supply Authority interest 68 – 226 Finance cost – Overdraft and term loans 1,657 192 86 Finance cost - Motapa loan notes payable (note 30.1) 619 302 – Finance cost - Solar loan notes payable (note 30.2) 549 – – Finance cost - Term loan – – 56 Finance cost - Capitalised to property, plant and equipment (note 18) – – (17 ) 3,024 657 375 Refer to note 23 30

Note 16 - Tax Expense

Note 16 - Tax Expense	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of income tax [text block]	16 Tax expense 2023 2022 2021 Tax recognised in profit or loss Current tax 7,642 9,932 9,051 Income tax - current year 4,821 8,707 8,769 Income tax - change in tax estimate 1,944 (46 ) (168 ) Withholding tax - current year 867 1,271 450 Acquisition of Bilboes Gold tax liability (note 5) 10 - - Deferred tax expense 5,168 6,838 5,806 Origination and reversal of temporary differences 5,168 6,838 5,806 Tax expense – recognised in profit or loss 12,810 16,770 14,857 Tax recognised in other comprehensive income Income tax - current year - - - Tax expense 12,810 16,770 14,857 16 Tax expense (continued) Unrecognised deferred tax assets 2023 2022 2021 Bilboes Holdings (Private) Limited * 4,447 - - Caledonia Holdings Zimbabwe (Private) Limited – mining 2,942 - - Caledonia Holdings Zimbabwe (Private) Limited - services 1,805 1,805 1,205 Blanket Employee Trust Services (Private) Limited 260 227 130 Caledonia Mining Services (Private) Limited - 69 5 Greenstone Management Services (Pty) Ltd (UK) 144 176 139 Tax losses carried forward 9,598 2,277 1,479 Taxable losses do not not not * Assessed losses of Bilboes of $3,763 was acquired during 2023. Assessed losses of Greenstone Management Services (Pty) Ltd (UK) are not zero Tax paid 2023 2022 2021 Net income tax payable at January 1 (1,284 ) (1,461 ) (419 ) Current tax expense (7,642 ) (9,932 ) (9,051 ) Acquisition of Bilboes Gold tax liability (note 5) (10 ) – – Foreign currency movement 840 3,243 583 Tax paid 9,206 6,866 7,426 Net income tax receivable/ (payable) at December 31 1,110 (1,284 ) (1,461 ) 16 Tax expense (continued) Reconciliation of tax rate Profit for the year (618 ) 22,866 23,142 Total tax expense 12,810 16,770 14,857 Profit before tax 12,192 39,636 37,999 Income tax at Company's domestic tax rate (1) - - - Tax rate differences in foreign jurisdictions (2) 5,808 12,600 11,847 Effect of income tax calculated in RTGS$ as required by PN26 (3) - 713 590 Management fee – withholding tax on deemed dividend portion 398 247 342 Management fee – non-deductible deemed dividend 675 735 611 Management fee – withholding tax - current year 169 174 148 Withholding tax on intercompany dividends 300 850 - Non-deductible expenditure - Donations 318 269 311 - Other non-deductible expenditure 37 1,613 904 Unrealised foreign exchange gains (642 ) (1,322 ) (614 ) Change in tax estimates - Zimbabwean income tax 1,891 - (166 ) - South African income tax 53 (46 ) (2 ) Change in unrecognised tax losses 3,803 937 886 Tax expense - recognised in profit or loss 12,810 16,770 14,857 ( 1 The tax rate in Jersey, Channel Islands is 0% ( 2022: 0%, 2021: ( 2 The effective tax rate of 105.07% ( 2022: not 2022: 2022: ( 3 In 2019 PN26 February 22, 2019. 4 23.04] PN26 37AA 23:06] 37AA On November 30,2023, 2024 January 1, 2024. December 30, 2023. The South African Government announced in the 2021 March 31, 2023. 16 Tax expense (continued) Recognised deferred tax assets and liabilities Assets Liabilities Net 2023 2022 2023 2022 2023 2022 Property, plant and equipment - - (6,348 ) (6,323 ) (6,348 ) (6,323 ) Exploration and evaluation assets - - (146 ) (2 ) (146 ) (2 ) Inventories – obsolete stock 65 (163 ) - - 65 (163 ) Prepayments - - (9 ) (5 ) (9 ) (5 ) Unrealised foreign exchange - 733 - - - 733 Trade and other payables 190 814 - - 190 814 Provisions 204 25 - - 204 25 Other 66 - - - 66 - Tax assets/ (liabilities) 525 1,409 (6,503 ) (6,330 ) (5,978 )* (4,921 )* * The net deferred tax liability consists of a deferred tax asset of $153 ( 2022: 2022: Movement in recognised deferred tax assets and liabilities Balance January 1, 2023 Recognised in profit or loss Foreign exchange movement Balance December 31, 2023 Property, plant and equipment (6,323 ) (5,737 ) 5,712 (6,348 ) Exploration and evaluation assets (2 ) - (144 ) (146 ) Inventories – obsolete stock (163 ) 90 138 65 Prepayments (5 ) (5 ) 1 (9 ) Unrealised foreign exchange 733 - (733 ) - Trade and other payables 814 (111 ) (513 ) 190 Provisions 25 529 (350 ) 204 Other - 66 - 66 Tax (liabilities)/ assets (4,921 ) (5,168 ) 4,111 (5,978 ) Balance January 1, 2022 Recognised in profit or loss Foreign exchange movement Balance December 31, 2022 Property, plant and equipment (9,328 ) (8,560 ) 11,565 (6,323 ) Exploration and evaluation assets (47 ) 10 35 (2 ) Inventories - obsolete stock 3 (295 ) 129 (163 ) Prepayments (10 ) 4 1 (5 ) Unrealised foreign exchange 499 1,179 (945 ) 733 Trade and other payables 989 794 (969 ) 814 Provisions 54 30 (59 ) 25 Tax (liabilities)/ assets (7,840 ) (6,838 ) 9,757 (4,921 )

Note 17 - Exploration and Evalu

Note 17 - Exploration and Evaluation Assets	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of exploration and evaluation assets [text block]	17 Exploration and evaluation assets Bilboes Gold Motapa Maligreen Connemara North GG Sabiwa Abercorn Valentine Total Balance at January 1, 2022 – – 4,196 463 3,618 290 16 65 8,648 Acquisition costs: - Mining claims acquired – 7,844 – – – – – – 7,844 Exploration costs: - Consumables and drilling – – 1,170 – 36 – – – 1,206 - Contractor – – – 4 – – – – 4 - Labour – – 260 – 37 – 11 – 308 - Power – – – – 32 4 – – 36 Impairment * – – – (467 ) – – – – (467 ) Balance at December 31, 2022 – 7,844 5,626 – 3,723 294 27 65 17,579 Balance at January 1, 2023 – 7,844 5,626 – 3,723 294 27 65 17,579 Acquisition costs: - Bilboes Gold 73,198 – – – – – – – 73,198 Decommissioning asset estimation adjustment – 1,466 152 – – – – – 1,618 Exploration costs: – – – – – – – – - Consumables and drilling – 903 102 – – – – – 1,005 - Contractor – 2 – – – – – – 2 - Labour – 377 111 – – – – – 488 - Power – – 7 – – – – – 7 - Other 375 – – – – – – – 375 Balance at December 31, 2023 73,573 10,592 5,998 – 3,723 294 27 65 94,272 * Caledonia completed sufficient work to establish that the potential orebody at the Connemara North property would not not $Nil. Non cash acquisitions of exploration and evaluation assets consist of Bilboes acquisition ($73,198), decommissioning ($1,618) and Bilboes lease right use of asset ($40). 17 Exploration and evaluation assets (continued) (a) Bilboes Gold Refer to note 5 (b) Motapa On November 1, 2022 Caledonia considers Motapa to be highly prospective and strategically important to its growth ambitions in Zimbabwe in terms of both location and scale. Motapa is a large exploration property which is contiguous to the Bilboes gold project. The Motapa asset has been mined throughout most of the second 20th none The acquisition was accounted for as an asset acquisition as the net assets acquired do not The initial purchase price of $1 million was paid on November 1, 2022. November 9, 2022. 30.1 July 3, 2023. (c) Maligreen On November 3, 2021 US$4 Maligreen is a substantial brownfield exploration opportunity with significant historical exploration and evaluation work having been conducted on the property over the last 30 years including: ● An estimated 60,000 meters of diamond core and percussion drilling ● 3.5 tonnes of bulk metallurgical test work ● Aeromagnetic and ground geophysical surveys The total land area of Maligreen is approximately 550 hectares comprising two 2000 2002 17 Exploration and evaluation assets (continued) (c) Maligreen (continued) On November 7, 2022 September 30, 2022 1.71g/t 2.12g/t

Note 18 - Property, Plant and E

Note 18 - Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of property, plant and equipment [text block]	18 Property, plant and equipment Cost Land and Buildings Right of use assets Mine development, infrastructure and other Assets under construction and decommissioning assets Plant and equipment Furniture and fittings Motor vehicles Solar Plant & Total Balance at January 1, 2022 14,435 543 73,914 35,476 64,319 1,342 3,169 1,940 195,138 Additions* – – – 31,711 3,049 243 147 12,198 47,348 Impairments – – (8,518 ) – (998 ) – – – (9,516 ) Reallocations between asset classes 759 – 15,886 (20,734 ) 4,089 – – – – Acquisition of Bilboes oxide assets (Tribute) (note 5) – – 872 – – – – – 872 Foreign exchange movement – (18 ) – – 26 (22 ) (2 ) – (16 ) Balance at December 31, 2022 15,194 525 82,154 46,453 70,485 1,563 3,314 14,138 233,826 Balance at January 1, 2023 15,194 525 82,154 46,453 70,485 1,563 3,314 14,138 233,826 Additions* – – – 28,276 538 335 294 163 29,606 Impairments ~ – – (872 ) – (36 ) – – – (908 ) Disposals – – – – (33 ) – – – (33 ) Reallocations between asset classes 1,492 – 37,116 (39,099 ) 491 – – – – Reallocate to assets held for sale – – – – – – – (14,301 ) (14,301 ) Foreign exchange movement – (24 ) – (2 ) – (37 ) (3 ) – (66 ) Balance at December 31, 2023 16,686 501 118,398 35,628 71,445 1,861 3,605 – 248,124 * Included in additions is the change in estimate for the decommissioning asset of $1,962 ( 2022: Included in the 2022 750 not 2022 $101; no $Nil. & The solar plant was fully commissioned on February 2, 2023 February 2, 2023 September 28, 2023 In December 2022, 30.2 ~ On June 27, 2023 September 2023 18 Property, plant and equipment (continued) Accumulated depreciation and Impairment losses Land and Right of Mine Assets under Plant and Furniture Motor Solar Total Balance at January 1, 2022 7,335 97 8,910 600 25,505 958 2,631 – 46,036 Depreciation for the year 1,015 137 3,990 93 4,527 163 216 – 10,141 Accumulated depreciation - impairments – – (532 ) – (775 ) – – – (1,307 ) Foreign exchange movement – (4 ) – – – (21 ) (2 ) – (27 ) Balance at December 31, 2022 8,350 230 12,368 693 29,257 1,100 2,845 – 54,843 Balance at January 1, 2023 8,350 230 12,368 693 29,257 1,100 2,845 – 54,843 Depreciation for the year 1,012 124 5,459 93 6,573 185 258 782 14,486 Accumulated depreciation for assets reallocated to assets held for sale – – – – – – – (782 ) (782 ) Accumulated depreciation - impairments – – (21 ) – (10 ) – – – (31 ) Foreign exchange movement – (9 ) – – – (30 ) (2 ) – (41 ) Balance at December 31, 2023 9,362 345 17,806 786 35,820 1,255 3,101 – 68,475 Carrying amounts At December 31, 2022 6,844 295 69,786 45,760 41,228 463 469 14,138 178,983 At December 31, 2023 7,324 156 100,592 34,842 35,625 606 504 – 179,649 18 Property, plant and equipment (continued) (a) Impairment considerations At year end management identified indicators of impairment at the Blanket CGU. The Blanket CGU excluded the Solar plant that is classified as held for sale at December 31, 2023. No ● Gold price per ounce ranging from $1,748 to $2,034. ● Life of mine (“LoM”) to 2041 ● grade ranging between 3.14g/t 3.29g/t. ● Production ounces between 77,822 and 81,446 per annum over the LoM. ● On mine cost of between $892 to $1,427 (real) over the LoM. ● Peak capex of $30.8 million. ● Weighted average cost of capital of 15.4%. ● Income tax of 25.75% on taxable income. Items of property, plant and equipment are depreciated over the LoM, which includes planned production from inferred resources. These inferred resources are included in the calculation when the economic recovery thereof is demonstrated by the achieved recovered grade relative to the mine’s pay limit for the period 2006 2018. 2.10 2022: 2.10 2.96 3.24 (b) Change in estimate In April 2023 (i) Mine, development, infrastructure and other In August 2015 1,200m two three 750m. first 2021.This 2009. March 2025. The Company estimates Blanket will produce 160,000 ounces until the Jethro shaft is decommissioned, previously estimated over the LoM. 18 Property, plant and equipment (continued) (b) Change in estimate (ii) Plant and equipment In carrying out a comprehensive asset’s useful life assessment, the following factors were considered in determining the useful life of an asset: ● expected physical wear and tear, which depends on operational factors such as the number of shifts for which the asset is to be used, the current repair and maintenance programme, and the care and maintenance of the asset while idle; and ● the expected usage of the asset. An analysis of the various asset categories for which exceptions were identified during the assessment process are generators, load haul dump machines (“LHDs”), dump trucks, rock breakers and drill rigs. Previously estimated with a ten five April 1, 2023. Notwithstanding any future addition to the above-mentioned assets, the effect of the change in useful life on actual and expected depreciation expense, effective for the year ended December 31, 2023, Increase in depreciation expense from April 1, 2023 to December 31, 2023 Mine, development, infrastructure and other 856 Plant and equipment 1,302 2,158 The above results are a change in estimates and applied prospectively from April 1, 2023. (c) Non-cash items excluded from acquisition of property, plant and equipment: 2023 2022 Net property, plant and equipment included in prepayments 329 (4,445 ) Net property, plant and equipment included in trade and other payables 583 (1,876 ) Bilboes oxide project payable (note 29) – (872 ) Change in estimate for decommissioning asset - adjustment capitalised in property, plant and equipment (note 18) (1,962 ) 468 (1,050 ) (6,725 ) (d) Capital commitments The amount of contractual commitment for the acquisition of property, plant and equipment at December 31, 2023 2022:

Note 19 - Leases

Note 19 - Leases	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of leases [text block]	19 Leases Leases as lessee The Group leases administrative offices. The leases, which the Group normally enters into, typically run for a period of 3 to 6 years, with an option to renew the lease after that date. Three leases for the administrative offices expire in 2024 one 2025. Information about leases for which the Group is a lessee is presented below. i) Amounts recognised in the statement of financial position Right of use assets Right of use assets related to leased properties are presented as part of property, plant and equipment (refer to note 18 2023 2022 Balance at January 1 295 446 Depreciation (124 ) (137 ) Foreign currency movement (15 ) (14 ) Balance at December 31 156 295 Lease liabilities 2023 2022 Balance at January 1 313 465 Additions to lease liability 67 - Finance cost 22 31 Lease payments (184 ) (150 ) Foreign currency movement (10 ) (33 ) Balance at December 31 208 313 ii) Amounts recognised in profit or loss 2023 2022 2021 Finance cost on lease liabilities (note 15) 22 31 24 Unrealised foreign exchange gain (5 ) 19 1 Depreciation (note 18) 124 137 115 141 187 140 iii) Amounts recognised in statement of cash flows 2023 2022 2021 Total cash outflow for leases - principal 162 119 105 Total cash outflow for leases - finance cost 22 31 24 Total cash outflow for leases - payments 184 150 129 19 Leases (continued) iv) Maturity of lease liabilities The maturity of lease liabilities are as follows as at December 31: 2023 2022 Less than one year 175 152 One to two years 42 150 Two to three years – 40 Total lease payments 217 342 Finance cost (9 ) (29 ) Present value of lease liabilities 208 313

Note 20 - Inventories

Note 20 - Inventories	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of inventories [text block]	20 Inventories 2023 2022 Consumable stores * 18,001 17,645 Gold in progress 2,303 689 20,304 18,334 * Included in consumables stores is an amount of ($1,793) ( 2022: not Gold work in progress balance as at December 31, 2023 2022:

Note 21 - Trade and Other Recei

Note 21 - Trade and Other Receivables	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of trade and other receivables [text block]	21 Trade and other receivables 2023 2022 Bullion sales receivable 5,403 7,383 VAT receivables 4,259 1,001 Solar - VAT and duty receivables* – 720 Deposits for stores, equipment and other receivables 290 81 9,952 9,185 The carrying value of trade receivables is considered a reasonable approximation of fair value and are short term in nature. No none no 33 * On December 7, 2021 2001.

Note 22 - Prepayments

Note 22 - Prepayments	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of prepayments and other assets [text block]	22 Prepayments 2023 2022 Caledonia Mining South Africa (Proprietary) Limited (“CMSA”) suppliers 527 254 Blanket Mine third party suppliers 1,746 1,494 Bilboes third party suppliers – 802 Solar prepayments – 104 Bilboes pre-effective date costs – 877 Other prepayments 265 162 2,538 3,693

Note 23 - Cash and Cash Equival

Note 23 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of cash and cash equivalents [text block]	23 Cash and cash equivalents 2023 2022 Bank balances 4,252 4,737 Restricted cash * 2,456 1,998 Cash and cash equivalents 6,708 6,735 Bank overdrafts and short term loans used for cash management purposes (17,740 ) (5,239 ) Net cash and cash equivalents (11,032 ) 1,496 * Cash of $2,456 (denominated in RTGS$) held by Blanket Mine was earmarked by Stanbic Bank Zimbabwe as a letter of credit in favour of CMSA. The letter of credit was issued by Stanbic Bank Zimbabwe on November 28, 2023 January, 2024. Interest paid on bank overdraft was $1,657 ( 2022: Date drawn Expiry Repayment Principal Balance drawn at December 31, Overdraft facilities and term loans Stanbic Bank - RTGS$ denomination September 2023 March 2024 On demand RTGS$350 million $Nil Stanbic Bank - USD denomination September 2023 March 2024 On demand $4 million $3.8 million Ecobank - USD denomination November 2022 December 2024 On demand $5 million $5 million Nedbank Zimbabwe - USD denomination December 2022 April 2024 On demand $3.5 million $3.4 million Nedbank Zimbabwe term loan - USD denomination April 2023 April 2024 On demand $3.5 million $3.5 million CABS – USD denomination August 2023 July 2024 On demand $2 million $2 million

Note 24 - Assets and Liabilitie

Note 24 - Assets and Liabilities Associated With Assets Held for Sale	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of available-for-sale financial assets [text block]	24 Assets and liabilities associated with assets held for sale 2023 2022 Non-current assets held for sale Solar plant 13,519 – Liabilities associated with assets held for sale Site restoration liability 128 – In the second 2023 On September 28, 2023 September 28, 2023 Management determined the value at the carrying amount of $13,519 at September 28, 2023,

Note 25 - Share Capital

Note 25 - Share Capital	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of share capital, reserves and other equity interest [text block]	25 Share capital Authorised Unlimited number of ordinary shares of no par value. Unlimited number of preference shares of no par value. Issued ordinary shares Number of Amount January 1, 2022 12,756,606 82,667 Shares issued: - share-based payment - employees (note 12.1(a)) 76,520 804 December 31, 2022 12,833,126 83,471 Shares issued: - share-based payment - employees (note 12.1(a)) 24,389 351 - equity raise* 1,207,514 15,569 - Bilboes Gold Limited acquisition (note 5) 5,123,044 65,677 December 31, 2023 19,188,073 165,068 * Gross proceeds of $10,770 with a transaction cost of $846 were raised by issuing depository interests on the AIM of the London Stock Exchange Gross proceeds of $5,850 with a transaction cost of $205 were raised by issuing depository receipts on the VFEX. During quarter one 2023,

Note 26 - Reserves

Note 26 - Reserves	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of reserves [text block]	26 Reserves Foreign currency translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations with functional currencies that differ from the presentation currency. Share-based payment reserve The share-based payment reserve comprises the fair value of equity instruments granted to employees, directors and service providers under share option plans (refer to note 12 6 Contributed surplus The contributed surplus reserve comprises the reduction in stated capital as approved by shareholders at the special general meeting on January 24, 2013 Reserves 2023 2022 Foreign currency translation reserve (10,409 ) (9,787 ) Contributed surplus 132,591 132,591 Equity-settled share-based payment reserve 15,637 14,997 Total 137,819 137,801

Note 27 - Earnings Per Share

Note 27 - Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of earnings per share [text block]	27 Earnings per share Weighted average number of shares Basic earnings per share (in number of shares) 2023 2022 2021 Issued shares at the beginning of year (note 25) 12,833,126 12,756,606 12,118,823 Weighted average shares issued 5,792,435 74,214 51,462 Weighted average number of shares at December 31 18,625,561 12,830,820 12,170,285 Weighted average number of shares - Diluted earnings per share (in number of shares) 2023 2022 2021 Weighted average at December 31 18,625,561 12,830,820 12,170,285 Effect of dilutive options 6,550 6,482 6,933 Weighted average number of shares (diluted) at December 31 18,632,111 12,837,302 12,177,218 The average market value of the Company’s shares for purposes of calculating the dilutive effect of share options was based on quoted market prices for the year during which the options were outstanding. Options of 13,450 ( 2022: 2021: The quantity of options outstanding as at year end that were out of the money amounted to $Nil 2022: $Nil, 2021: $Nil 27 Earnings per share (continued) The calculation of total basic and diluted earnings per share for the year ended December 31, 2023 2023 2022 2021 Profit for the year attributable to owners of the Company (basic and diluted) (4,198 ) 17,903 18,405 Blanket Mine Employee Trust Adjustment (346 ) (517 ) (326 ) Profit attributable to ordinary shareholders (basic and diluted) (4,544 ) 17,386 18,079 Basic earnings per share - $ (0.24 ) 1.36 1.49 Diluted earnings per share - $ (0.24 ) 1.35 1.48 Basic earnings are adjusted for the amounts that accrue to other equity holders of subsidiaries upon the full distribution of post-acquisition earnings to shareholders. Diluted earnings are calculated on the basis that the unpaid ownership interests of Blanket Mine’s indigenous shareholders are effectively treated as options whereby the weighted average fair value for the period of the Blanket Mine shares issued to the indigenous shareholders and which are subject to settlement of the loan accounts is compared to the balance of the loan accounts and any excess portion is regarded as dilutive. The difference between the number of Blanket Mine shares subject to the settlement of the loan accounts and the number of Blanket Mine shares that would have been issued at the average fair value, is treated as the issue of shares for no no

Note 28 - Non-controlling Inter

Note 28 - Non-controlling Interests	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of non-controlling interests [text block]	28 Non-controlling interest Blanket Mine’s (incorporated in Zimbabwe) NCI share is recognised at an effective share and voting rights of 13.2% ( 2022: 2021: 2023 2022 2021 Current assets 33,126 30,397 33,634 Non-current assets 188,134 172,611 154,003 Current liabilities (10,277 ) (9,583 ) (17,261 ) Non-current liabilities (10,901 ) (8,062 ) (11,535 ) Net assets of Blanket Mine (100%) 200,082 185,363 158,841 Carrying amount of NCI of 13.2% (2022: 13.2%, 2021: 13.2%) 24,477 22,409 19,260 Revenue 146,314 142,082 121,329 Profit after tax 27,215 38,389 35,911 Total comprehensive income of Blanket Mine (100%) 27,215 38,389 35,911 Profit allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%) 3,580 4,963 4,737 Dividend allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%) (1,512 ) (1,814 ) (2,001 ) Net cash inflow from operating activities 28,087 50,048 41,489 Net cash outflow from investing activities (28,146 ) (37,798 ) (29,850 ) Net cash outflow from financing activities (5,017 ) (16,506 ) (12,817 ) Net cash outflow (5,076 ) (4,256 ) (1,178 )

Note 29 - Provisions

Note 29 - Provisions	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of provisions [text block]	29 Provisions Site restoration Site restoration relates to the estimated cost of closing down the mines and projects and represent the site and environmental restoration costs, estimated to be paid as a result of mining activities or previous mining activities. For the Blanket Mine site restoration costs are capitalsed in property, plant and equipment with an increase in the provision at the net present value of the estimated future and inflated cost of site rehabilitation. Subsequently the capitalized cost are amortised over the life of the mine and the provision is unwound over the period to estimated restoration. For properties in the exploration and evaluation phase, such as the Bilboes, Maligreen and Motapa projects, site restoration costs are capitalised in exploration and evaluation assets with an increase in the provision at the undiscounted value of the estimated cost of site rehabilitation. Subsequently the costs capitalised are not not Reconciliation of site restoration provision 2023 2022 Blanket Mine Balance January 1 2,823 3,159 Unwinding of discount (note 17) 109 132 Change in estimate (Blanket Mine) (note 18) 1,834 (468 ) Balance December 31 4,766 2,823 Motapa, Maligreen and Bilboes Balance January 1 135 135 Change in estimate (Motapa) (note 17) 1,466 – Change in estimate (Maligreen) (note 17) 152 – Acquisition - (Bilboes) (note 5) 4,466 – Balance December 31 6,219 135 Total balance December 31 10,985 2,958 Current – – Non-current 10,985 2,958 10,985 2,958 The discount rate in calculating the present value of the Blanket Mine provision is 4.14% ( 2022: 2022: 2022: December 31, 2023. The undiscounted gross rehabilitation costs for exploration and evaluation assets as at December 31, 2023, 2022: $Nil 2022: $Nil 2022: 29 Provisions (continued) (a) Change in estimate Amounts recorded for restoration and rehabilitation provision require management to estimate the future costs the Group will incur to complete the reclamation and remediation work required to comply with applicable laws and regulations as well as taking into consideration the timing of the reclamation activities and estimated discount rate. Future changes to environmental laws and regulations could increase the extent of reclamation and remediation work required to be performed by the Group. Increases in future costs could materially impact the amounts charged to operations for reclamation and remediation. The provision represents management’s best estimate of the present value of the future reclamation and remediation costs. (i) Motapa and Maligreen Management performed a revised rehabilitation liability cost estimate during the fourth 2023. The revised provision estimate of Motapa and Maligreen were capitalised as exploration and evaluation assets. The effect of the change in estimation was as follows: Increase in provision as at December 31, 2023 Motapa 1,466 Maligreen 152 1,618

Note 30 - Loan Note Instruments

Note 30 - Loan Note Instruments	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of borrowings [text block]	30 Loan note instruments Loan note instruments - finance costs 2023 2022 Motapa loan notes 30.1 619 302 Solar loan notes 30.2 549 – 1,168 302 Loan note instruments - financial liabilities 2023 2022 Motapa loan notes 30.1 – 7,104 Solar loan notes 30.2 7,112 – 7,112 7,104 Current 665 7,104 Non-current 6,447 - 7,112 7,104 30 Loan note instruments (continued) 30.1 Motapa loan notes payable On November 1, 2022 November 1, 2022. The aggregate principal amount of the Loan notes were limited to US$7.25 March 31, 2023, June 30, 2023. July 3, 2023 All Loan notes repaid by Caledonia were immediately cancelled and were not The fair value of the Loan notes payable at inception was estimated to be $6,802 using the market approach method. The effective interest rate on the Loan notes was estimated to be 12.75% per annum. The Loan notes were subsequently measured at amortised cost. A summary of the Loan notes payable was as follows: 2023 2022 Balance January 1 7,104 - Fair value November 1, 2022 – 6,802 Finance cost accrued 619 302 Repayment - principal (7,250 ) - Repayment – finance cost paid (473 ) - Balance December 31 - 7,104 Current - 7,104 Non-current - - - 7,104 Refer to note 17 30 Loan note instruments (continued) 30.2 Solar loan notes Following the commissioning of Caledonia’s wholly owned solar plant on February 2, 2023, A summary of the bonds is as follows: 2023 2022 Balance January 1 – – Amounts received 7,000 – Transaction costs (105 ) – Finance cost accrued 549 – Repayment - finance cost paid (332 ) – Balance December 31 7,112 – Current 665 – Non-current 6,447 – 7,112 – In April 2024,

Note 31 - Trade and Other Payab

Note 31 - Trade and Other Payables	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of trade and other payables [text block]	31 Trade and other payables 2023 2022 Trade payables 6,166 3,502 Electricity accrual 2,676 2,386 Audit fee 395 284 Dividends due 1,048 1,883 Solar plant supplier accrual – 1,852 Bilboes oxide project payable – 872 Other payables 692 651 Financial liabilities 10,977 11,430 Production and management bonus accrual - Blanket Mine 214 287 Other employee benefits - other 2,229 982 Other employee benefits - settlements 1,588 – Leave pay 2,655 2,462 Bonus provision 190 1,025 Accruals 2,650 1,268 Non-financial liabilities 9,526 6,024 Total 20,503 17,454

Note 32 - Cash Flow Information

Note 32 - Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of cash flow statement [text block]	32 Cash flow information Non-cash items and information presented separately on the statements of cash flows statement: 2023 2022 2021 Operating profit 15,177 40,276 38,360 Adjustments for: Impairment of property, plant and equipment (note 18) 877 8,209 497 Impairment of exploration and evaluation assets (note 17) – 467 3,837 Impairment of solar plant - VAT and duty receivables 720 – – Unrealised foreign exchange gains (note 13) (4,217 ) (12,736 ) (2,754 ) Cash-settled share-based expense (note 12.1) 463 609 477 Cash-settled share-based expense included in production costs (note 12.1) 660 853 692 Cash portion of cash-settled share-based expense (1,695 ) (1,468 ) (420 ) Equity-settled share-based expense (note 11.2) 640 484 – Depreciation (note 18) 14,486 10,141 8,046 Fair value loss on derivative instruments (note 14) 1,119 401 240 Profit on disposal of property, plant and equipment (note 18) 33 – – Derecognition of property, plant and equipment – – (38 ) Write down of inventory 283 563 – Expected credit losses on deferred consideration on the disposal of subsidiary – – 761 Cash generated from operations before working capital changes 28,546 47,799 49,698 Inventories (2,182 ) 1,915 (4,016 ) Prepayments 338 (1,375 ) (4,272 ) Trade and other receivables (1,910 ) (1,561 ) (4,746 ) Trade and other payables 1,606 2,879 2,039 Cash generated from operations 26,398 49,657 38,703

Note 33 - Financial Instruments

Note 33 - Financial Instruments and Risk Management	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of financial instruments [text block]	33 Financial Instruments and risk management The Group has exposure to the following risks from its use of financial instruments: ● Credit risk; ● Liquidity risk; ● Market risk This note present information about the Group’s exposure to each of the above risks and the Group’s objectives, policies and processes for measuring and managing risk. Further quantitative disclosures are included throughout these consolidated financial statements. The Group is exposed in varying degrees to a variety of financial instrument related risks by virtue of its activities. The overall financial risk management program focuses on the preservation of capital and protecting current and future Group assets and cash flows by reducing exposure to risks posed by the uncertainties and volatilities of financial markets. The Board of Directors has the responsibility to ensure that an adequate financial risk management policy is established and to approve the policy. The Group’s Audit Committee oversees management’s compliance with the Group’s financial risk management policy. Gold price hedges were entered into to manage the possible effect of gold price fluctuations. The derivative financial instrument was entered into by the Company for economic hedging purposes and not The types of risk exposure and the way in which such exposures are managed are described below: (a) Credit risk Exposure to credit risk Credit risk includes the risk of a financial loss to the Group if a gold sales customer fails to meet its contractual obligation. The carrying amount of financial assets as disclosed in the statements of financial position and related notes represents the maximum credit exposure. The maximum exposure to credit risk for trade and other receivables at the reporting date by geographic region was: Carrying amount 2023 2022 Zimbabwe 4,215 9,059 Jersey, Channel Islands – – Other regions 1,618 1 5,833 9,060 Of the trade receivables balance at the end of the year, $3,110 ( 2022: $Nil not 33 Financial Instruments and risk management (continued) (b) Liquidity risk Liquidity risk is the risk that the Group does not The following are the contractual maturities of financial liabilities, including contractual interest payments. Non-derivative financial liabilities December 31, 2023 Carrying Total 12 months Trade and other payables 10,977 10,977 10,977 Loan note payable 7,112 8,663 665 Lease liabilities 208 217 175 Overdraft and term loans 17,740 17,740 17,740 36,037 37,597 29,557 December 31, 2022 Carrying Total 12 months Trade and other payables 11,430 11,430 11,430 Loan note payable 7,104 7,723 7,723 Lease liabilities 313 342 152 Overdraft and term loans 5,239 5,239 5,239 24,086 24,734 24,544 The Group regularly monitors its liquidity risk and evaluates the options available. Sensitivity analysis A reasonably possible strengthening (weakening) of the gold price will have an impact on the revenue of the Group and the fair value of the gold options at December 31, 2023. 33 Financial Instruments and risk management (continued) (b) Liquidity risk (continued) Sensitivity analysis (continued) An increase or decrease of 5% December 31: Consolidated statement of financial position: 2023 2022 Derivative financial assets - Put option Increase by 5% of the gold price - - Decrease by 5% of the gold price 4 22 Consolidated statement of profit or loss and other comprehensive income: Fair value loss on derivative financial instruments 2023 2022 Derivative financial assets - Put option Increase by 5% of the gold price - - Decrease by 5% of the gold price 4 22 The Group’s revenues had full exposure to the gold price up to December 19, 2023 14.1 (c) Market risk (i) Currency risk The Group is exposed to currency risk on inter-company sales and purchases that are denominated in a currency other than the respective functional currencies of Group entities. The Group does not The fluctuation of the US Dollar in relation to other currencies that entities within the Group may may 33 Financial Instruments and risk management (continued) (c) Market risk (continued) (i) Currency risk (continued) Sensitivity analysis As a result of the Group’s monetary assets and liabilities denominated in foreign currencies which is different to the functional currency of the underlying entities, the profit or loss and equity in the underlying entities could be affected by movements between the functional currency and the foreign currency. The table below indicates consolidated monetary assets/(liabilities) in the Group that have a different functional currency and foreign currency. 2023 2022 $'000 $'000 Functional currency Functional currency ZAR $ ZAR $ Cash and cash equivalents 62 4,706 62 3,443 USD denominated 61 - 62 - ZAR denominated - 989 - 631 RTGS$ denominated - 3,424 - 2,502 GBP denominated 1 293 - 235 CAD denominated - - - 75 Trade and other receivables - RTGS$ denominated - 3,118 - 2,607 Trade and other payables - RTGS$ denominated - (106 ) - (130 ) Overdraft and term loans - RTGS$ denominated - - - - 62 7,718 62 5,920 A reasonably possible strengthening or weakening of 5% 2023 2022 $'000 $'000 Functional currency Functional currency ZAR $ ZAR $ Cash and cash equivalents 3 177 3 134 Trade and other receivables - 148 - 124 Trade and other payables - (5 ) - (6 ) Overdraft and term loans - - - - 3 320 3 252 (ii) Interest rate risk The Group's interest rate risk arises from loans and borrowings, overdraft facility, short term loans and cash held. The loans and borrowings, overdraft facility and cash held have variable interest rates. Variable rates expose the Group to cash flow interest rate risk. The Group has not 33 Financial Instruments and risk management (continued) (c) Market risk (continued) (ii) Interest rate risk (continued) The Group’s assets and liabilities exposed to interest rate fluctuations as at year end is summarised as follows: 2023 2022 Cash and cash equivalents 6,708 6,735 Overdraft and term loans (17,740 ) (5,239 ) (11,032 ) 1,496 Interest rate risk arising from borrowings is offset by interest from available cash and cash equivalents. The table below summarises the effect of a change in finance cost on the Group’s profit or loss and equity, had the rates charged differed. Sensitivity analysis - Cash and cash equivalents 2023 2022 Increase by 100 basis points 67 67 Decrease by 100 basis points (67 ) (67 ) Sensitivity analysis - Overdraft Increase by 100 basis points 177 52 Decrease by 100 basis points (177 ) (52 )

Note 34 - Dividends

Note 34 - Dividends	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of dividends [text block]	34 Dividends 2023 2022 2021 Dividends declared to owners of the Company 8,752 8,975 6,068 Dividends declared to NCI 1,512 1,814 2,001 10,264 10,789 8,069 Dividends declared and paid to owners of the Company 8,752 7,178 6,068 Dividends declared and paid to NCI 550 1,728 2,001 Dividends declared and due to owners of the Company - 1,797 - Dividends declared and due to NCI 1,048 86 - 10,350 10,789 8,069 A dividend was declared and paid in January 2024. 34 Dividends (continued) Quarterly dividend per share history: Declaration date cents per share January 14, 2021 11.0 April 15, 2021 12.0 July 15, 2021 13.0 October 14, 2021 14.0 January 13, 2022 14.0 April 18, 2022 14.0 July 14, 2022 14.0 October 13, 2022 14.0 December 30, 2022 14.0 April 3, 2023 14.0 June 29, 2023 14.0 September 28, 2023 14.0

Note 35 - Contingencies

Note 35 - Contingencies	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of contingent liabilities [text block]	35 Contingencies The Group may

Note 36 - Related Parties

Note 36 - Related Parties	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of transactions between related parties [text block]	36 Related parties Directors of the company, as well as certain executives, are considered key management. For entities within the Group refer to note 37. Employee contracts between CMSA, CHZ, the Company and key management include an option for respective key management to terminate such employee contracts in the event of a change in control of the Company and to receive a severance payment equal to six two December 31, 2023 2022: 2021: ● the acquisition of more than 50% ● the acquisition of the right to exercise the majority of the voting rights of shares; or ● the acquisition of the right to appoint the majority of the board of directors; or ● the acquisition of more than 50% 36 Related parties (continued) Key management personnel and director transactions: A number of related parties transacted with the Group in the reporting period. The aggregate value of transactions and outstanding balances relating to key management personnel and entities over which they have control or significant influence were as follows: 2023 2022 2021 Key management salaries 3,102 2,076 2,234 Share-based awards* 720 999 540 All other compensation & 2,599 1,697 1,011 6,421 4,772 3,785 * Amount inclusive of $104 ( 2022: 2021: Employees, officers, directors, consultants and other service providers also participate in the OEICP (see note 12.1 & The Company entered into a consultancy agreement with SR Curtis, a director of the Company, effective July 1, 2022 December 31, 2023 July 1, 2022 December 31, 2022 January 1, 2023 December 31, 2023. December 31, 2023, 2022: 2021: $Nil December 31, 2025 May 7, 2024). Included is an amount of $647 ( 2022: 2021: 2023. Included is an amount of $1,588 ( 2022: 2021: $Nil 2024 $30 rent was paid to a company of which V. Gapare is a director and that supplied office accommodation in Harare, Zimbabwe. Group entities are set out in note 37. Refer to note 6 28 Refer to note 38 Refer to note 30 Refer to note 11 All related party transactions occurred at arm’s length.

Note 37 - Group Entities

Note 37 - Group Entities	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of subsidiaries [text block]	37 Group entities Intercompany balances with holding company Activity of Functional Country of Legal Intercompany 2023 2022 2023 2022 Caledonia Holdings Zimbabwe (Private) Limited Services $ Zimbabwe 100 100 (6,179) (6,683) Caledonia Mining Services (Private) Limited Solar power provider $ Zimbabwe 100 100 10,559 - Fintona Investments Proprietary Limited Dormant ZAR South Africa 100 100 14,860 14,859 Caledonia Mining South Africa Proprietary Limited Procurement and services ZAR South Africa 100 100 (8,700) (5,329) Greenstone Management Services Holdings Limited Investment holding $ United Kingdom 100 100 (48,149) (36,597) Blanket Mine (1983) (Private) Limited (2) Mining $ Zimbabwe 64 64 (217) 561 Blanket Employee Trust Services (Private) Limited ("BETS") (1) Employee trust $ Zimbabwe - - - - Motapa Mining Company UK Limited Investment holding $ United Kingdom 100 100 - - Arraskar Investments (Private) Limited Exploration $ Zimbabwe 100 100 - - Bilboes Gold Limited Investment holding $ Mauritius 100 - - - Bilboes Holdings (Private) Limited Gold project $ United Kingdom 100 - 805 - Caledonia Mining FZCO Procurement $ Dubai 100 - 61 - Caledonia (Connemara) (Private) Limited Dormant $ Zimbabwe 100 100 - - Caledonia (Maligreen) (Private) Limited Dormant $ Zimbabwe 100 100 - - Caledonia (Bilboes & Motapa) (Private) Limited Dormant $ Zimbabwe 100 - - - ( 1 BETS and the Community Trust are consolidated as structured entities. ( 2 Refer to note 6 2022: 2021: 37 Group entities (continued) Intercompany transactions with holding company Loans advanced/ Interest received Foreign exchange 2023 2022 2023 2022 2023 2022 Caledonia Holdings Zimbabwe (Private) Limited (4 ) (424 ) 508 536 – – Caledonia Mining Services (Private) Limited 10,016 – 543 – – – Fintona Investments Proprietary Limited – – – – – – Caledonia Mining South Africa Proprietary Limited (3,591 ) (4,293 ) (455 ) – 675 370 Greenstone Management Services Holdings Limited (9,103 ) (13,681 ) (2,449 ) – – – Blanket Mine (1983) (Private) Limited (760 ) (509 ) (18 ) 40 – – Blanket Employee Trust Services (Private) Limited ("BETS") – – – – – – Motapa Mining Company UK Limited – – – – – – Arraskar Investments (Private) Limited – – – – – – Bilboes Gold Limited – – – – – – Bilboes Holdings (Private) Limited 805 – – – – – Caledonia Mining FZCO 61 – – – – – Caledonia (Connemara) (Private) Limited – – – – – – Caledonia (Maligreen) (Private) Limited – – – – – – Caledonia (Bilboes & Motapa) (Private) Limited – – – – – – (2,576 ) (18,907 ) (1,871 ) 576 675 370

Note 38 - Operating Segments

Note 38 - Operating Segments	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of entity's operating segments [text block]	38 Operating Segments The Group's operating segments have been identified based on geographic areas. The strategic business units are managed separately because they require different technology and marketing strategies. For each of the strategic business units, the Group’s CEO reviews internal management reports on at least a quarterly basis. Blanket Mine, Bilboes oxide mine, exploration and evaluation assets (“E&E projects”) and South Africa describe the Group's reportable segments. The Blanket operating segment comprises Caledonia Holdings Zimbabwe (Private) Limited, Blanket Mine ( 1983 not 38 Operating Segments (continued) Performance is measured based on profit before income tax, as included in the internal management report that is reviewed by the Group's CEO. Segment profit or exploration and evaluation cost is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. The accounting policies of the reportable segments are the same as the Group’s accounting policies. Information about reportable segments For the twelve months ended December 31, 2023 Blanket South Bilboes E&E Inter-group Corporate Total Revenue 140,615 – 5,699 – – – 146,314 Inter-segmental revenue – 17,623 – – (17,623 ) – – Royalty (7,318 ) – (319 ) – – – (7,637 ) Production costs (68,923 ) (16,788 ) (13,095 ) – 16,097 – (82,709 ) Depreciation (15,385 ) (139 ) – – 1,079 (41 ) (14,486 ) Other income 236 10 1 – (1,750 ) 1,766 263 Other expenses* (4,353 ) – (14 ) – – – (4,367 ) Administrative expenses (912 ) (4,301 ) (2,101 ) (8 ) 17 (10,124 ) (17,429 ) Management fee (3,468 ) 3,471 – – (3 ) – – Cash-settled share-based expense – – – – 660 (1,123 ) (463 ) Equity-settled share-based expense – – – – – (640 ) (640 ) Net foreign exchange (loss) gain (3,229 ) (144 ) 97 – (71 ) 797 (2,550 ) Fair value loss on derivative liabilities – – – – – (1,119 ) (1,119 ) Finance income – 39 – – – – 39 Finance cost (3,323 ) 448 (189 ) (22 ) (2 ) 64 (3,024 ) Profit (loss) before tax 33,940 219 (9,921 ) (30 ) (1,596 ) (10,420 ) 12,192 Tax expense (12,256 ) (235 ) – – (19 ) (300 ) (12,810 ) Profit (loss) after tax 21,684 (16 ) (9,921 ) (30 ) (1,615 ) (10,720 ) (618 ) * Other expenses include impairment of plant and equipment of $26 for Blanket and $851 for the Bilboes oxide mine, as well as impairment of the solar VAT and duty receivable amounting to $720 for Blanket. 38 Operating Segments (continued) As at December 31, 2023 Blanket South Bilboes E&E Inter-group Corporate Total Segment assets: Current (excluding intercompany, including assets held for sale) 51,236 2,363 – 401 (1,757 ) 1,986 54,229 Non-current (excluding intercompany) 188,426 697 – 92,664 (5,294 ) (2,419 ) 274,074 Assets held for sale (note 24) 13,519 – – – – – 13,519 Expenditure on property, plant and equipment (note 18) 43,496 120 – – (2,570 ) (11,440 ) 29,606 Expenditure on evaluation and exploration assets (note 17) – – – 76,693 – – 76,693 Intercompany balances 44,452 16,844 (214 ) – (145,523 ) 84,441 – Segment liabilities: Current (excluding intercompany) (31,747 ) (4,421 ) – (1,755 ) – (2,210 ) (40,133 ) Non-current (excluding intercompany) (17,634 ) – – (5,932 ) 4 (416 ) (23,978 ) Intercompany balances (24,412 ) (34,193 ) – (5,691 ) 145,523 (81,227 ) – For the twelve months ended December 31, 2022 Blanket South Africa E&E Inter-group Corporate Total Revenue 142,082 – – – – 142,082 Inter-segmental revenue – 19,885 – (19,885 ) – – Royalty (7,124 ) – – – – (7,124 ) Production costs (62,701 ) (18,883 ) – 18,586 – (62,998 ) Depreciation (10,735 ) (153 ) – 789 (42 ) (10,141 ) Other income 48 12 – – – 60 Other expenses* (11,289 ) (66 ) – – (427 ) (11,782 ) Administrative expenses (172 ) (3,047 ) – – (8,722 ) (11,941 ) Management fee (3,454 ) 3,454 – – – – Cash-settled share-based expense – – – 853 (1,462 ) (609 ) Equity-settled share-based expense – – – – (484 ) (484 ) Net foreign exchange gain (loss) 4,415 (119 ) – (291 ) 406 4,411 Fair value loss on derivative liabilities – – – – (1,198 ) (1,198 ) Finance income – 17 – – – 17 Finance cost (861 ) (25 ) – – 229 (657 ) Profit (loss) before tax 50,209 1,075 – 52 (11,700 ) 39,636 Tax expense (15,785 ) (252 ) – 117 (850 ) (16,770 ) Profit (loss) after tax 34,424 823 – 169 (12,550 ) 22,866 * Other expenses include impairment of plant and equipment of $8,209 for Blanket, as well as impairment of the Connemara North of $720. 38 Operating Segments (continued) As at December 31, 2022 Zimbabwe South Africa E&E Inter-group Corporate Total Segment assets: Current (excluding intercompany) 33,130 1,448 – (83 ) 3,932 38,427 Non-current (excluding intercompany) 176,356 822 5,626 (5,446 ) 19,406 196,764 Expenditure on property, plant and equipment (note 18) 38,763 (881 ) 872 (1,355 ) 10,821 48,220 Expenditure on evaluation and exploration assets (note 17) 7,964 – 1,430 – 4 9,398 Intercompany balances 33,468 12,202 – (107,227 ) 61,557 – Segment liabilities: Current (excluding intercompany) (17,451 ) (1,901 ) – – (13,089 ) (32,441 ) Non-current (excluding intercompany) (8,197 ) (101 ) – 116 (1,109 ) (9,291 ) Intercompany balances (12,725 ) (34,753 ) – 107,227 (59,749 ) – Major customer Revenues received from Fidelity amounted to $66,177 ( 2022: $142,082; 2021: twelve December 31, 2023. The Group has made $80,137 ( 2022: $Nil, 2021: $Nil December 31, 2023, 2022: Nil 2021: Nil may The Bullion trade receivables outstanding have been paid in full, after the year end.

Note 39 - Defined Contribution

Note 39 - Defined Contribution Plan	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of employee benefits [text block]	39 Defined Contribution Plan Under the terms of the Mining Industry Pension Fund (“Fund”) in Zimbabwe, eligible employees contribute a fixed percentage of their eligible earnings to the Fund. Blanket Mine makes a matching contribution plus an inflation levy as a fixed percentage of eligible earnings of these employees. The total contribution by Blanket Mine for the year ended December 31, 2023 2022: 2021:

Note 40 - Subsequent Events

Note 40 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of events after reporting period [text block]	40 Subsequent events There were no December 31, 2023

Note 41 - Going Concern

Note 41 - Going Concern	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of going concern [text block]	41 Going concern The directors have, at the time of approving these consolidated financial statements, a reasonable expectation that Caledonia has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Discloure of Significant Accounting Policies
Description of accounting policy for basis of consolidation [text block]	a) Basis of consolidation i) Subsidiaries and structured entities Subsidiaries and certain structured entities are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variability in returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. ii) Loss of control When the Group loses control over a subsidiary, it derecognises the assets and liabilities of the subsidiary, and any related Non-controlling interests (“NCI”) and other components of equity. Any gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost. iii) Non-controlling interests NCI is measured at their proportionate share of the carrying amounts of the acquiree’s identifiable net assets at fair value at the acquisition date. Changes in the Group’s interest in a subsidiary that do not iv) Transactions eliminated on consolidation Intra-group balances and transactions arising from intra-group transactions are eliminated.
Description of accounting policy for recognition of revenue [text block]	(b) Revenue i) Fidelity Gold Refinery (Private) Limited ( Fidelity ) and further refinement Revenue from the sale of precious metals at Blanket is recognised when the unrefined metal is accepted at the refinery (“Local lodgment date”) by Fidelity, except for the portion earmarked for export to a refiner outside of Zimbabwe. Control is transferred and the receipt of proceeds is substantially assured at point of delivery at the end refiner with the responsibility to pay. Revenue for each delivery to Fidelity is measured at the London Base Metal Association price post-delivery less 1.25% and the quantities are determined on Local lodgment date. On average, settlement occurs within 14 days of delivery from Fidelity and within 2 days from Al Etihad Gold Refinery DMCC. A portion of unrefined metals produced by Blanket is exported by Caledonia to Al Etihad Gold Refinery DMCC (“AEG” an accredited Dubai Good Delivery refinery), which makes payment to Caledonia's bank account in Zimbabwe in USD. The exported unrefined gold continues to be processed at Fidelity, a subsidiary of the Reserve Bank of Zimbabwe (“RBZ”), on a toll-treatment basis, in accordance with requirements of the Zimbabwe government for in-country refining and to allow the Zimbabwe authorities full visibility over the gold produced and exported by Caledonia. The resultant gold is exported under the gold dealing licence that is held by Fidelity to a refinery outside Zimbabwe which undertakes the final refining process. Caledonia receives the proceeds of the gold that it exports in its bank account in Zimbabwe within a few days of delivery to the final refiner. This arrangement in respect of production from Blanket complies with the current requirements to pay a 5% royalty on gold sales and 1.25% of gross sales which is payable to the Zimbabwean Government and deducted from USD and RTGS$ revenues proportionately. For deliveries exported and for deliveries that are paid by Fidelity, Blanket continues to receive 75% of its revenues in US Dollars and the balance in local currency. Revenue for the unrefined metals exported to a refiner outside Zimbabwe from the sale of precious metals is recognised when the refiner outside of Zimbabwe receives the unrefined metals (“Export lodgment date”). Control is transferred and the receipt of proceeds is substantially assured at the point of delivery. Export lodgment date revenue for each delivery is measured at the London Base Metal Association price post-delivery less a refining fee and the quantities are determined on Export lodgment date. On average settlement occurs within two Revenue from the sale of precious metals at Bilboes is recognised when the unrefined metal is accepted at the refinery (“Local lodgment date”) by Fidelity. Control is transferred and the receipt of proceeds is substantially assured at point of delivery at the end refiner with the responsibility to pay. Revenue for each delivery to Fidelity is measured at the London Base Metal Association price post-delivery less 1.25% and the quantities are determined on Local lodgment date. Part of the Bilboes revenue during the year was recognised from sales to Fidelity as a “small-scale producer”, measured at the previous day’s 6pm
Description of accounting policy for impairment of assets [text block]	(c) Impairment i) Expected credit losses on financial assets The Group applies the IFRS 9 not 48 December 31, 90 90 no no ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets are reviewed at each reporting date to determine whether there is any indication of impairment. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit” or “CGU”). The Group’s corporate assets do not may An impairment loss is recognised if the carrying amount of a CGU exceeds its estimated recoverable amount. Impairment losses recognised in respect of CGUs are allocated to reduce the carrying amount of assets in the unit (group of units) on a pro rata basis. Impairment losses recognised in prior years are assessed at each reporting date for any indications that the loss has decreased or no not no 4 Material accounting policies (continued) (c) Impairment (continued) iii) Impairment of Exploration and evaluation ( E&E ) assets The test for impairment of E&E assets can combine several CGUs as long as the combination is not E&E assets are assessed for impairment only when facts and circumstances suggest that the carrying amount of an E&E asset may ● The entity's right to explore in the specific area has expired or will expire in the near future and is not ● Substantive expenditure on further E&E activities in the specific area is neither budgeted nor planned in future. ● The entity has not ● Even if development is likely to proceed, the entity has sufficient data indicating that the carrying amount of the asset is unlikely to be recovered in full from successful development or by sale.
Description of accounting policy for share-based payment transactions [text block]	(d) Share-based payment transactions i) Equity-settled share-based payments to employees and directors The grant date fair value of equity-settled share-based payment awards granted to employees and directors is recognised as an expense, with a corresponding increase in equity, over the vesting period of the award. The amount recognised as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that meet the related service and non-market vesting conditions at the vesting date. Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in profit or loss. Additional information about significant judgements, estimates and the assumptions used to estimate the fair value of equity-settled share-based payment transactions are disclosed in note 12.2. ii) Cash-settled share-based payments to employees and directors The grant date fair value of cash-settled awards granted to employees and directors is recognised as an expense, with a corresponding increase in the liability, over the vesting period of the awards. At each reporting date the fair value of the awards is re-measured with a corresponding adjustment to profit or loss. Additional information about significant judgements, estimates and the assumptions used to estimate the fair value of cash-settled share-based payment transactions are disclosed in note 12.1.
Description of accounting policy for functional currency [text block]	(e) Foreign currency i) Foreign operations As stated in note 2 ● assets and liabilities are translated using the exchange rate at year end; and ● income, expenses and cash flow items are translated using the rate that approximates the exchange rates at the dates of the transactions. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognised in Other Comprehensive Income (“OCI”). If settlement is planned or likely in the foreseeable future, foreign exchange gains and losses are included in profit or loss. When settlement occurs, the settlement will not not When the Group disposes of its entire interest in a foreign operation or loses control over a foreign operation, the foreign currency gains or losses accumulated in OCI related to the foreign operation are reclassified to profit or loss. If the Group disposes of part of an interest in a foreign operation which remains a subsidiary, a proportionate amount of foreign currency gains or losses accumulated in OCI related to the subsidiary are reattributed between controlling and non-controlling interests. All resulting translation differences are reported in OCI and accumulated in the foreign currency translation reserve. ii) Foreign currency translation In preparing the financial statements of the Group entities, transactions in currencies other than the functional currency (foreign currencies) of these Group entities are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities are translated using the current foreign exchange rate. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All gains and losses on translation of these foreign currency transactions are included in profit or loss for the year. On October 1, 2018 1:1 February 20, 2019 1 2022: 2021: 1 December 31, 2023. 4 Material accounting policies (continued) (e) Foreign currency (continued) ii) Foreign currency translation (continued) Further, the RBZ issued a directive to Zimbabwean banks to separate foreign currency and RTGS$ for bank accounts held by clients on October 1, 2018. November 12, 2018 May 26, 2020 January 8, 2021 February 3, 2023 June 15, 2021. In June 2021 July 1, 2021 February 3, 2023 75%:25% In applying IAS 21, ● the majority of revenue is received in US Dollars; ● the gold price receivable was calculated in US Dollars; ● the majority of costs are calculated by reference to the US Dollars if denominated in RTGS$ or is paid in US Dollars; and ● Income tax liabilities calculated in RTGS$ are settled predominantly in US Dollars. The application of IAS 21, 142
Description of accounting policy for finance income and costs [text block]	(f) Finance income and finance cost Finance income comprises interest income on funds invested. Finance income is recognised as it accrues in profit or loss, using the effective interest method. Finance cost comprise interest expense on the rehabilitation provisions, interest on bank overdraft balances, effective interest on leases, loans and borrowings and also includes commitment costs on overdraft facilities. Finance cost is recognised in profit or loss using the effective interest rate method and excludes borrowing costs capitalised.
Description of accounting policy for borrowing costs [text block]	(g) Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred and recognised as finance cost.
Description of accounting policy for income tax [text block]	(h) Taxes i) Income tax Tax expense comprises current and deferred tax. These expenses are recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. ii) Current tax Current tax is the tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date. Current tax includes withholding tax on management fees and dividends paid between companies within the Group. iii) Deferred tax Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not Deferred tax is a monetary item measured at the tax rates and in the currency that are expected to be applied when temporary differences reverse. The tax and exchange rates are based on the laws that have been enacted, substantively enacted or the interbank exchange rates that prevail at the reporting date. A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no
Description of accounting policy for earnings per share [text block]	(i) Earnings per share The Group presents basic and diluted earnings per share (“EPS”) data for its shares. Basic EPS is calculated by dividing the adjusted profit or loss attributable to shareholders of the Group (see note 27
Description of accounting policy for property, plant and equipment [text block]	(j) Property, plant and equipment i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, borrowing costs on qualifying assets, the costs of dismantling and removing the items and restoring the site on which they are located. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and are recognised in profit or loss. Refer to note 4 ii) Subsequent costs The cost of replacing a part of an item of property, plant and equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group, and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in profit or loss as incurred. iii) Depreciation Depreciation is calculated to write off the depreciable amount, which is the cost of an asset, or other amount substituted for cost, less its residual value. When the asset is ready for use in the manner intended by management, depreciation of mine development, infrastructure and other assets is calculated on the unit-of-production method using the measured, indicated and estimated economical inferred mineral resources in Blanket’s life-of-mine plan (“LoMP”). Resources that are not not For other categories, depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Mineral resources and reserves categorised and reported in compliance with the definitions embodied in the CIM Definition Standards as incorporated into the NI 43 101 1300 Inferred mineral resources are considered in the LoMP to the extent these mineral resources are above the cut-off, economically viable and of sufficient confidence, are expected to be upgraded and form part of eventual extraction and as a result are included in the calculation of depreciation. Refer to note 18 4 Material accounting policies (continued) (j) Property, plant and equipment (continued) iii) Depreciation (continued) Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. An inferred mineral resource has a lower level of confidence than that applied to an indicated mineral resource. An indicated mineral resource has a higher level of confidence than an inferred mineral resource but has a lower level of confidence than a measured mineral resource. Mineral resources in the measured and indicated mineral resource classifications have been converted into proven and probable mineral reserves respectively, by applying the applicable modifying factors and reasonable prospects of economic extraction. Land is not The calculation of the production rate units could be affected to the extent that actual production in the future is different from the current forecast production. This would generally result from the extent to which there are significant changes in any of the factors or assumptions used in estimating mineral reserves and resources. These factors include: ● changes in mineral reserves and resources; ● differences between actual commodity prices and commodity price assumptions; ● unforeseen operational issues at mine sites; and ● changes in capital, operating, mining, processing and reclamation costs, discount rates and foreign exchange rates. The estimated useful lives for 2023, 2022 2021 ● buildings 10 to 15 years; ● plant and equipment 5 to 10 years; ● fixtures and fittings including computers 4 to 10 years; ● motor vehicles 4 years; ● right of use assets 3 to 6 years (determined by lease term); and ● mine development, infrastructure and other assets in production, units-of-production method. Depreciation methods, useful lives and residual values are reviewed each financial year and adjusted if appropriate. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Assets under construction’s useful life and residual values will be assessed once the asset is available for use. Refer to note 18
Description of accounting policy for exploration and evaluation expenditures [text block]	(k) Exploration and evaluation assets Qualifying exploration costs are capitalised as incurred. Costs incurred before the legal rights to explore are obtained are recognised in profit or loss. The costs related to speculative drilling on unestablished orebodies at the Blanket Mine, general administrative or overhead costs are expensed as incurred. Exploration and evaluation costs capitalised are disclosed under Exploration and evaluation assets. Qualifying direct expenditures include such costs as mineral rights, options to acquire mineral rights, materials used, surveying costs, drilling costs, payments made to contractors, direct administrative costs and depreciation on property, plant and equipment during the exploration phase. 4 Material accounting policies (continued) (k) Exploration and evaluation assets (continued) Costs not Once the technical feasibility and commercial viability of extracting the mineral resource have been determined, the property is considered to be a mine under development and moved to the mine development, infrastructure and other asset category within property, plant and equipment. Capitalised direct costs related to the acquisition, exploration and development of mineral properties remain capitalised, at their initial cost, until the properties to which they relate are ready for their intended use, sold, abandoned or management has determined there to be impairment. Exploration and evaluation assets are tested for impairment at least annually, and before the assets are transferred to mine development, infrastructure and other assets or when an indicator of impairment is identified. Exploration and evaluations assets are not
Description of accounting policy for measuring inventories [text block]	(l) Inventories Consumable stores are measured at the lower of cost and net realisable value. The cost of consumable stores is based on the weighted average cost principle. It includes expenditure incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Gold in process is measured at the lower of cost and net realisable value. The cost of gold in process includes an appropriate share of production overheads based on normal operating capacity and is valued on the weighted average cost principle. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.
Description of accounting policy for determining components of cash and cash equivalents [text block]	(m) Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with original maturities of three
Description of accounting policy for non-current assets or disposal groups classified as held for sale [text block]	(n) Assets and liabilities associated with assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are generally measured at the lower of their carrying amount or fair value less costs to sell. Impairment losses on initial classification as held for sale or held for distribution and subsequent gains and losses on remeasurement are recognised in profit or loss. Once classified as held for sale property, plant and equipment are no
Description of accounting policy for financial instruments [text block]	(o) Financial instruments i) Financial assets The Group had the following financial assets: Financial assets at amortised cost Financial assets at amortised cost comprise trade receivables. Such assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses. A trade receivable without a significant financing component is initially measured at the transaction price. Refer to note 4 Fair value through profit or loss This category comprises the Gold ETF, gold hedge and Put options. These instruments are carried at fair value with changes in fair value recognised in profit or loss as fair value losses on derivative financial instruments. Transaction costs are recognised in profit or loss immediately when incurred. The Group does not 14. ii) Financial liabilities The Group classifies its financial liabilities into one two Fair value through profit or loss Derivatives are recognised initially at fair value; attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value. This category comprises the Gold loan, Put options and the Call options. Estimations made and further information is in note 14. Financial liabilities at amortised cost Non-derivative financial liabilities are recognised initially on the date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognises a financial liability when its contractual obligations are discharged, cancelled or expire. Non-derivative financial liabilities consist of bank overdrafts, loans and borrowings and trade and other payables. Such financial liabilities are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortised cost using the effective interest method. Offsetting Financial assets and liabilities are offset and the net amount is presented in the statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
Description of accounting policy for issued capital [text block]	(p) Share capital Share capital is classified as equity. Incremental costs directly attributable to the issue, consolidation and repurchase of fractional items of shares and share options are recognised as a deduction from equity, net of any tax effects.
Description of accounting policy for provisions [text block]	(q) Provisions A provision is a liability of uncertain timing and amount. A liability is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability if the time value of money is considered significant. The unwinding of the discount is recognised as a finance cost.
Description of accounting policy for decommissioning, restoration and rehabilitation provisions [text block]	(r) Site restoration The Group recognises liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of property, plant and equipment and exploration and evaluation assets, when those obligations result from the acquisition, construction, development or normal operation of these assets. Production phase restoration costs are recognised at the net present value of future rehabilitation cost estimates arising from the decommissioning of plant and other site preparation work is capitalised to mineral properties along with a corresponding increase in the rehabilitation provision in the period incurred. Future rehabilitation costs are discounted using a pre-tax risk-free rate that reflects the time-value of money. For assets in the exploration and the evaluation phase the restoration costs are recognised at the undiscounted current cost. The Group’s estimates of rehabilitation costs, which are reviewed annually, could change as a result of changes in regulatory requirements, discount rates, effects of inflation and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to mineral properties with a corresponding entry to the rehabilitation provision. The periodic unwinding of the discount shall be recognised in the profit or loss as a finance costs.
Description of accounting policy for leases [text block]	(s) Leases The Group recognises a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right of use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right of use asset reflects that the Group will exercise a purchase option. In that case the right of use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as property, plant and equipment. Also, the right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. 4 Material accounting policies (continued) (s) Leases (continued) The lease liability is initially measured at the present value of the lease payments that are not The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: ● fixed payments, including in-substance fixed payments; ● amounts expected to be payable under a residual value guarantee; and ● the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if the lease agreement changes in substance in terms of payment. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right of use asset or is recorded in profit or loss if the carrying amount of the right of use asset has been reduced to zero. The Group presents the right of use assets as property, plant and equipment. Lease liabilities are presented separately in the statement of financial position as current- and non-current lease liabilities. The Group has elected not
Description of accounting policy for employee benefits [text block]	(t) Employee benefits i) Short-term employee benefits Short-term employee benefits are expensed when the related services are provided. A liability is recognised for the amount expected to be paid, in respect of salaries, annual leave, bonusses and severance packages, if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. ii) Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no 12
Description of accounting policy for accounting standards [text block]	(u) Standards issued but not The following standards, amendments to standards and interpretations to existing standards may Standard/ Interpretation Effective date * Classification of Liabilities as Current or Non-current – Amendments to IAS 1 Non-current Liabilities with Covenants – Amendments to IAS 1 Amendments made to IAS 1 2020 2022 Covenants of loan arrangements will not 12 ● the carrying amount of the liability, ● information about the covenants, and ● facts and circumstances, if any, that indicate that the entity may The amendments also clarify what IAS 1 8 Accounting Policies, Changes in Accounting Estimates and Errors 2020 The Group has completed its assessment of the impact of the above standards and concluded that the standard amendments would not January 1, 2024 4 Material accounting policies (continued) (u) Standards issued but not The following standards, amendments to standards and interpretations to existing standards may Standard/ Interpretation Effective date * General requirements for Disclosure of Sustainability-related financial information – IFRS S1 Climate-related Disclosures – IFRS S2 IFRS S1 IFRS S2 In the first S1, S2 The Group has completed its assessment of the impact of the above standards and concluded that the standard amendments would not January 1, 2024 Lack of exchangeability – IAS 21 The International Accounting Standards Board has published amendments to IAS 21 not. Applying the amendments, a currency is exchangeable when an entity is able to exchange that currency for the other currency through market or exchange mechanisms that create enforceable rights and obligations without undue delay at the measurement date and for a specified purpose. However, a currency is not no When a currency is not Management is investigating the potential impact of the standard to be amended. January 1, 2025 * New standards, amendments to standards and interpretations adopted from January 1, 2023 no

Note 5 - Tribute Arrangement _2

Note 5 - Tribute Arrangement and Mining Agreement and Bilboes Gold Limited Acquisition (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of consideration paid and assets and liabilities assumed [text block]	Consideration paid $'000 Equity issued 65,677 Initial consideration shares issued ( 4,425,797 12.82 56,739 Escrow shares issued ( 441,095 12.82 5,655 Deferred consideration shares issued ( 256,152 12.82 3,283 Bilboes oxide mine assets (pre-acquisition) (872 ) Prepayments - Bilboes pre-effective date costs 877 Total net consideration 65,682 Recognised amounts of identifiable assets and liabilities assumed (January 6, 2023) Exploration and evaluation assets (note 17) 73,198 Inventories 70 Prepayments 5 Trade and other receivables 802 Cash and cash equivalents 54 Provisions (4,466 ) Trade and other payables - external (3,943 ) Lease liabilities (28 ) Income tax payable (10 ) 65,682

Note 6 - Blanket Zimbabwe Ind_2

Note 6 - Blanket Zimbabwe Indigenisation Transaction (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of indigenisation shareholder percentages and facilitation loan balances [text block]	Effective NCI subject to Balance of facilitation loan # USD Shareholding facilitation December 31, December 31, NIEEF 16 % 3.2 % 12.8 % 8,489 9,414 Community Trust 10 % 10.0 % 0.0 % – – BETS ~ 10 % -* -* 4,908 5,612 36 % 13.2 % 12.8 % 13,397 15,026
Disclosure of movement in dividend loan [text block]	2023 2022 Balance at January 1 15,026 16,712 Interest incurred 259 580 Dividends used to repay loan (1,888 ) (2,266 ) Balance at December 31 13,397 15,026

Note 7 - Capital Management (Ta

Note 7 - Capital Management (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of capital components [text block]	2023 2022 Total equity 264,192 193,459

Note 8 - Revenue (Tables)

Note 8 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Revenue from gold [text block]	Blanket Bilboes Total 2023 2022 2021 *2023 2023 2022 2021 Revenue 140,615 142,082 121,329 5,699 146,314 142,082 121,329 Revenue - silver sales 114 116 122 4 118 116 122 Revenue - gold sales 140,501 141,966 121,207 5,695 146,196 141,966 121,207 Total ounces gold sold 73,482 80,094 68,617 3,050 76,532 80,094 68,617 Net work in progress (oz) 1,934 681 (1,141 ) – 1,934 681 (1,141 ) Gold produced (oz) 75,416 80,775 67,476 3,050 78,466 80,775 67,476 Tonnes milled 770,440 752,033 665,628 154,040 924,480 752,033 665,628 Grade (g/t) 3.25 3.56 3.36 1.15 Recovery (%) 93.8 93.8 93.9 54.0 Realised gold price ($/oz) 1,912 1,772 1,766 1,867 1,910 1,772 1,766

Note 9 - Production Costs (Tabl

Note 9 - Production Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of components for cost of sales [text block]	2023 2022 2021 Blanket Mine 69,591 62,998 53,126 Salaries and wages 25,042 23,037 20,609 Consumable materials 24,087 23,601 17,375 Consumable materials – COVID-19 – 311 297 Electricity costs 13,496 9,634 10,407 Safety 1,155 998 774 Cash-settled share-based expense (note 12.1(a)) 637 853 692 On mine administration 2,783 2,736 1,806 Security 1,020 1,093 826 Solar operations and maintenance services 647 – – Obsolete inventory 283 563 36 Pre-feasibility exploration costs 441 172 304 Bilboes 13,118 – – Salaries and wages 2,796 – – Consumable materials 8,402 – – Electricity costs 553 – – Cash-settled share-based expense (note 12.1(a)) 23 – – On mine administration 1,344 – – 82,709 62,998 53,126

Note 10 - Other Expenses (Table

Note 10 - Other Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of other operating expenses components [text block]	2023 2022 2021 Intermediated Money Transaction Tax * 1,266 1,378 799 COVID-19 donations – – 74 Community and social responsibility cost 1,504 898 1,167 Impairment of property, plant and equipment (note 18) 877 8,209 498 Impairment of exploration and evaluation assets (note 17) – 467 3,837 Impairment Solar - VAT and duty receivables (note 21) 720 – – Bilboes pre-acquisition cost – 830 – Expected credit losses on deferred consideration on the disposal of subsidiary – – 761 4,367 11,782 7,136

Note 11 - Administrative Expe_2

Note 11 - Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the components of general and administrative expense [text block]	2023 2022 2021 Investor relations 576 663 439 Audit fee 396 294 267 Advisory services fees 4,406 1,459 614 Listing fees 749 512 609 Directors fees – Company 571 569 527 Directors fees – Blanket 61 56 51 Employee costs – salaries and bonusses 6,734 5,855 5,462 Employee costs – settlements 1,784 – – Other office administration cost 445 468 177 Information technology and communication cost – Group related 241 391 178 Management liability insurance 897 985 551 Travel costs 569 689 216 17,429 11,941 9,091

Note 12 - Share-based Payments

Note 12 - Share-based Payments (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]	December 31, 2023 December 31, 2022 RSUs PUs RSUs PUs Risk free rate – 3.88 % 3.88 % 3.88 % Fair value (USD) – 12.20 12.52 12.42 Share price (USD) – 12.20 12.40 12.42 Performance multiplier percentage – 93-100 % – 93-100 % Volatility – 0.90 1.29 0.91 Share units granted: RSUs PUs RSUs PUs Grant - January 11, 2019 – – – 95,740 Grant - March 23, 2019 – – – 28,287 Grant - June 8, 2019 – – – 14,672 Grant - January 11, 2020 17,585 69,678 17,585 114,668 Grant - March 31, 2020 – 696 – 1,971 Grant - June 1, 2020 – – – 1,740 Grant - September 9, 2020 – 697 – 1,611 Grant - September 14, 2020 – 5,300 – 20,686 Grant - October 5, 2020 – 230 – 514 Grant - January 11, 2021 – 56,244 – 78,875 Grant - April 1, 2021 – – – 770 Grant - May 14, 2021 – 964 – 2,389 Grant - June 1, 2021 – 1,310 – 1,692 Grant - June 14, 2021 – 398 – 507 Grant - August 13, 2021 – – – 2,283 Grant - September 1, 2021 – – – 553 Grant - September 6, 2021 – 458 – 531 Grant - September 20, 2021 – 460 – 526 Grant - October 1, 2021 – 1,016 – 2,530 Grant - October 11, 2021 – 450 – 500 Grant - November 12, 2021 – 1,846 – 1,998 Grant - December 1, 2021 – 900 – 936 Grant - January 11, 2022 – 75,198 – 96,359 Grant - January 12, 2022 – 825 – 825 Grant - May 13, 2022 – 2,040 – 2,040 Grant - June 1, 2022 – 1,297 – 1,297 Grant - July 1, 2022 – 2,375 – 2,375 Grant - October 1, 2022 – 2,024 – 2,024 Grant - April 7, 2023 – 79,521 – – Grant - May 15, 2023 – 581 – – Grant - June 1, 2023 – 617 – – Grant - June 7, 2023 – 572 – – Grant - August 10, 2023 – 5,514 – – Grant - September 1, 2023 – 1,617 – – Grant - October 3, 2023 – 14,258 – – RSU dividends reinvested 1,980 – 1,980 – Settlements/terminations (19,565 ) (144,772 ) – (254,491 ) Total awards outstanding - 182,314 19,565 224,408 Grant date January 24, 2022 April 7, 2023 Number of units – remaining at reporting date 113,693 80,773 Share price (USD) - grant date 11.50 16.91 Fair value (USD) - grant date 10.15 15.33 Performance multiplier percentage at grant date 100 % 100 %

Note 13 - Net Foreign Exchang_2

Note 13 - Net Foreign Exchange Gain (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of foreign currency gains (losses) [text block]	2023 2022 2021 Unrealised foreign exchange gain 4,217 12,736 2,755 Realised foreign exchange loss* (6,767 ) (8,325 ) (1,571 ) Net foreign exchange (loss) gain (2,550 ) 4,411 1,184

Note 14 - Derivative Financia_2

Note 14 - Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of fair value losses and cash flows on derivative assets [text block]	Derivative financial instrument expenses 2023 2022 2021 Put options 14.1(a) 1,097 38 – Gold purchase options 14.2(a) 22 – – Gold loan 14.2(b) – (228 ) 21 Call options (December 13, 2021) 14.2(b) – (240 ) – Cap and collar options and Call options 14.2(c) – 832 114 Call options transaction costs (March 9, 2022) 14.2(c) – 796 – Gold exchange-traded fund ("Gold ETF") – – 105 1,119 1,198 240 Cash flows arising from investing activities Acquisition of Put options 14.1(a) (946 ) (478 ) – Proceeds from derivative financial liabilities – Gold purchase options 14.2(a) 178 – – Proceeds from derivative financial assets - Gold ETF – – 1,066 (768 ) (478 ) 1,066 Cash flows arising from financing activities Gold loan (repayment) proceeds 14.2(b) – (3,698 ) 2,752 Call options (December 13, 2021) proceeds 14.2(b) – – 208 Call options (March 9, 2022) acquisition 14.2(c) – (176 ) – Call options (March 9, 2022) proceeds 14.2(c) – 416 – – (3,458 ) 2,960
Disclosure of derivative financial assets [text block]	2023 2022 Put options 14.1(a) 88 440 88 440
Disclosure of derivative financial liabilities [text block]	2023 2022 Gold purchase options 14.2(a) – – Gold loan 14.2(b) – – Call options (December 13, 2021) 14.2(b) – – Cap and collar options and Call options 14.2(c) – – – –
Allocation of proceeds received for derivative financial liabilities [text block]	December 13, 2021 Net proceeds received 2,960 Fair value of Call options 208 Fair value of Gold loan 2,752

Note 15 - Finance Income and _2

Note 15 - Finance Income and Finance Cost (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the components of finance income (cost) [text block]	2023 2022 2021 Finance income received - Bank 39 17 14 Unwinding of rehabilitation provision (note 29) 109 132 – Finance cost - Leases (note 19) 22 31 24 Zimbabwe Electricity Supply Authority interest 68 – 226 Finance cost – Overdraft and term loans 1,657 192 86 Finance cost - Motapa loan notes payable (note 30.1) 619 302 – Finance cost - Solar loan notes payable (note 30.2) 549 – – Finance cost - Term loan – – 56 Finance cost - Capitalised to property, plant and equipment (note 18) – – (17 ) 3,024 657 375

Note 16 - Tax Expense (Tables)

Note 16 - Tax Expense (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the components of income tax [text block]	2023 2022 2021 Tax recognised in profit or loss Current tax 7,642 9,932 9,051 Income tax - current year 4,821 8,707 8,769 Income tax - change in tax estimate 1,944 (46 ) (168 ) Withholding tax - current year 867 1,271 450 Acquisition of Bilboes Gold tax liability (note 5) 10 - - Deferred tax expense 5,168 6,838 5,806 Origination and reversal of temporary differences 5,168 6,838 5,806 Tax expense – recognised in profit or loss 12,810 16,770 14,857 Tax recognised in other comprehensive income Income tax - current year - - - Tax expense 12,810 16,770 14,857
Disclosure of unrecognized deferred tax assets [text block]	2023 2022 2021 Bilboes Holdings (Private) Limited * 4,447 - - Caledonia Holdings Zimbabwe (Private) Limited – mining 2,942 - - Caledonia Holdings Zimbabwe (Private) Limited - services 1,805 1,805 1,205 Blanket Employee Trust Services (Private) Limited 260 227 130 Caledonia Mining Services (Private) Limited - 69 5 Greenstone Management Services (Pty) Ltd (UK) 144 176 139 Tax losses carried forward 9,598 2,277 1,479
Disclosure of income taxes paid [text block]	Tax paid 2023 2022 2021 Net income tax payable at January 1 (1,284 ) (1,461 ) (419 ) Current tax expense (7,642 ) (9,932 ) (9,051 ) Acquisition of Bilboes Gold tax liability (note 5) (10 ) – – Foreign currency movement 840 3,243 583 Tax paid 9,206 6,866 7,426 Net income tax receivable/ (payable) at December 31 1,110 (1,284 ) (1,461 )
Disclosure of income tax reconciliation [text block]	Reconciliation of tax rate Profit for the year (618 ) 22,866 23,142 Total tax expense 12,810 16,770 14,857 Profit before tax 12,192 39,636 37,999 Income tax at Company's domestic tax rate (1) - - - Tax rate differences in foreign jurisdictions (2) 5,808 12,600 11,847 Effect of income tax calculated in RTGS$ as required by PN26 (3) - 713 590 Management fee – withholding tax on deemed dividend portion 398 247 342 Management fee – non-deductible deemed dividend 675 735 611 Management fee – withholding tax - current year 169 174 148 Withholding tax on intercompany dividends 300 850 - Non-deductible expenditure - Donations 318 269 311 - Other non-deductible expenditure 37 1,613 904 Unrealised foreign exchange gains (642 ) (1,322 ) (614 ) Change in tax estimates - Zimbabwean income tax 1,891 - (166 ) - South African income tax 53 (46 ) (2 ) Change in unrecognised tax losses 3,803 937 886 Tax expense - recognised in profit or loss 12,810 16,770 14,857
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]	Assets Liabilities Net 2023 2022 2023 2022 2023 2022 Property, plant and equipment - - (6,348 ) (6,323 ) (6,348 ) (6,323 ) Exploration and evaluation assets - - (146 ) (2 ) (146 ) (2 ) Inventories – obsolete stock 65 (163 ) - - 65 (163 ) Prepayments - - (9 ) (5 ) (9 ) (5 ) Unrealised foreign exchange - 733 - - - 733 Trade and other payables 190 814 - - 190 814 Provisions 204 25 - - 204 25 Other 66 - - - 66 - Tax assets/ (liabilities) 525 1,409 (6,503 ) (6,330 ) (5,978 )* (4,921 )*
Disclosure of movement in recognized in deferred tax assets and liabilities [text block]	Balance January 1, 2023 Recognised in profit or loss Foreign exchange movement Balance December 31, 2023 Property, plant and equipment (6,323 ) (5,737 ) 5,712 (6,348 ) Exploration and evaluation assets (2 ) - (144 ) (146 ) Inventories – obsolete stock (163 ) 90 138 65 Prepayments (5 ) (5 ) 1 (9 ) Unrealised foreign exchange 733 - (733 ) - Trade and other payables 814 (111 ) (513 ) 190 Provisions 25 529 (350 ) 204 Other - 66 - 66 Tax (liabilities)/ assets (4,921 ) (5,168 ) 4,111 (5,978 ) Balance January 1, 2022 Recognised in profit or loss Foreign exchange movement Balance December 31, 2022 Property, plant and equipment (9,328 ) (8,560 ) 11,565 (6,323 ) Exploration and evaluation assets (47 ) 10 35 (2 ) Inventories - obsolete stock 3 (295 ) 129 (163 ) Prepayments (10 ) 4 1 (5 ) Unrealised foreign exchange 499 1,179 (945 ) 733 Trade and other payables 989 794 (969 ) 814 Provisions 54 30 (59 ) 25 Tax (liabilities)/ assets (7,840 ) (6,838 ) 9,757 (4,921 )

Note 17 - Exploration and Eva_2

Note 17 - Exploration and Evaluation Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about exploration and evaluation assets [text block]	Bilboes Gold Motapa Maligreen Connemara North GG Sabiwa Abercorn Valentine Total Balance at January 1, 2022 – – 4,196 463 3,618 290 16 65 8,648 Acquisition costs: - Mining claims acquired – 7,844 – – – – – – 7,844 Exploration costs: - Consumables and drilling – – 1,170 – 36 – – – 1,206 - Contractor – – – 4 – – – – 4 - Labour – – 260 – 37 – 11 – 308 - Power – – – – 32 4 – – 36 Impairment * – – – (467 ) – – – – (467 ) Balance at December 31, 2022 – 7,844 5,626 – 3,723 294 27 65 17,579 Balance at January 1, 2023 – 7,844 5,626 – 3,723 294 27 65 17,579 Acquisition costs: - Bilboes Gold 73,198 – – – – – – – 73,198 Decommissioning asset estimation adjustment – 1,466 152 – – – – – 1,618 Exploration costs: – – – – – – – – - Consumables and drilling – 903 102 – – – – – 1,005 - Contractor – 2 – – – – – – 2 - Labour – 377 111 – – – – – 488 - Power – – 7 – – – – – 7 - Other 375 – – – – – – – 375 Balance at December 31, 2023 73,573 10,592 5,998 – 3,723 294 27 65 94,272

Note 18 - Property, Plant and_2

Note 18 - Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about property, plant and equipment [text block]	Cost Land and Buildings Right of use assets Mine development, infrastructure and other Assets under construction and decommissioning assets Plant and equipment Furniture and fittings Motor vehicles Solar Plant & Total Balance at January 1, 2022 14,435 543 73,914 35,476 64,319 1,342 3,169 1,940 195,138 Additions* – – – 31,711 3,049 243 147 12,198 47,348 Impairments – – (8,518 ) – (998 ) – – – (9,516 ) Reallocations between asset classes 759 – 15,886 (20,734 ) 4,089 – – – – Acquisition of Bilboes oxide assets (Tribute) (note 5) – – 872 – – – – – 872 Foreign exchange movement – (18 ) – – 26 (22 ) (2 ) – (16 ) Balance at December 31, 2022 15,194 525 82,154 46,453 70,485 1,563 3,314 14,138 233,826 Balance at January 1, 2023 15,194 525 82,154 46,453 70,485 1,563 3,314 14,138 233,826 Additions* – – – 28,276 538 335 294 163 29,606 Impairments ~ – – (872 ) – (36 ) – – – (908 ) Disposals – – – – (33 ) – – – (33 ) Reallocations between asset classes 1,492 – 37,116 (39,099 ) 491 – – – – Reallocate to assets held for sale – – – – – – – (14,301 ) (14,301 ) Foreign exchange movement – (24 ) – (2 ) – (37 ) (3 ) – (66 ) Balance at December 31, 2023 16,686 501 118,398 35,628 71,445 1,861 3,605 – 248,124 Accumulated depreciation and Impairment losses Land and Right of Mine Assets under Plant and Furniture Motor Solar Total Balance at January 1, 2022 7,335 97 8,910 600 25,505 958 2,631 – 46,036 Depreciation for the year 1,015 137 3,990 93 4,527 163 216 – 10,141 Accumulated depreciation - impairments – – (532 ) – (775 ) – – – (1,307 ) Foreign exchange movement – (4 ) – – – (21 ) (2 ) – (27 ) Balance at December 31, 2022 8,350 230 12,368 693 29,257 1,100 2,845 – 54,843 Balance at January 1, 2023 8,350 230 12,368 693 29,257 1,100 2,845 – 54,843 Depreciation for the year 1,012 124 5,459 93 6,573 185 258 782 14,486 Accumulated depreciation for assets reallocated to assets held for sale – – – – – – – (782 ) (782 ) Accumulated depreciation - impairments – – (21 ) – (10 ) – – – (31 ) Foreign exchange movement – (9 ) – – – (30 ) (2 ) – (41 ) Balance at December 31, 2023 9,362 345 17,806 786 35,820 1,255 3,101 – 68,475 Carrying amounts At December 31, 2022 6,844 295 69,786 45,760 41,228 463 469 14,138 178,983 At December 31, 2023 7,324 156 100,592 34,842 35,625 606 504 – 179,649
Disclosure of depreciation of property, plant, and equipment [text block]	Increase in depreciation expense from April 1, 2023 to December 31, 2023 Mine, development, infrastructure and other 856 Plant and equipment 1,302 2,158
Disclosure of non-cash items excluded from acquisition of property, plant and equipment [text block]	2023 2022 Net property, plant and equipment included in prepayments 329 (4,445 ) Net property, plant and equipment included in trade and other payables 583 (1,876 ) Bilboes oxide project payable (note 29) – (872 ) Change in estimate for decommissioning asset - adjustment capitalised in property, plant and equipment (note 18) (1,962 ) 468 (1,050 ) (6,725 )

Note 19 - Leases (Tables)

Note 19 - Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of quantitative information about right-of-use assets [text block]	2023 2022 Balance at January 1 295 446 Depreciation (124 ) (137 ) Foreign currency movement (15 ) (14 ) Balance at December 31 156 295
Disclosure of quantitative information about lease liability [text block]	2023 2022 Balance at January 1 313 465 Additions to lease liability 67 - Finance cost 22 31 Lease payments (184 ) (150 ) Foreign currency movement (10 ) (33 ) Balance at December 31 208 313
Disclosure of profit or loss and cash flow amounts of leases [text block]	2023 2022 2021 Finance cost on lease liabilities (note 15) 22 31 24 Unrealised foreign exchange gain (5 ) 19 1 Depreciation (note 18) 124 137 115 141 187 140 2023 2022 2021 Total cash outflow for leases - principal 162 119 105 Total cash outflow for leases - finance cost 22 31 24 Total cash outflow for leases - payments 184 150 129
Disclosure of maturity analysis of operating lease payments [text block]	2023 2022 Less than one year 175 152 One to two years 42 150 Two to three years – 40 Total lease payments 217 342 Finance cost (9 ) (29 ) Present value of lease liabilities 208 313

Note 20 - Inventories (Tables)

Note 20 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of components of inventories [text block]	2023 2022 Consumable stores * 18,001 17,645 Gold in progress 2,303 689 20,304 18,334

Note 21 - Trade and Other Rec_2

Note 21 - Trade and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the components and trade and other receivables [text block]	2023 2022 Bullion sales receivable 5,403 7,383 VAT receivables 4,259 1,001 Solar - VAT and duty receivables* – 720 Deposits for stores, equipment and other receivables 290 81 9,952 9,185

Note 22 - Prepayments (Tables)

Note 22 - Prepayments (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about prepayments [text block]	2023 2022 Caledonia Mining South Africa (Proprietary) Limited (“CMSA”) suppliers 527 254 Blanket Mine third party suppliers 1,746 1,494 Bilboes third party suppliers – 802 Solar prepayments – 104 Bilboes pre-effective date costs – 877 Other prepayments 265 162 2,538 3,693

Note 23 - Cash and Cash Equiv_2

Note 23 - Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of the components of cash and cash equivalents [text block]	2023 2022 Bank balances 4,252 4,737 Restricted cash * 2,456 1,998 Cash and cash equivalents 6,708 6,735 Bank overdrafts and short term loans used for cash management purposes (17,740 ) (5,239 ) Net cash and cash equivalents (11,032 ) 1,496
Summary quantitative data about entity's exposure to risk [text block]	Date drawn Expiry Repayment Principal Balance drawn at December 31, Overdraft facilities and term loans Stanbic Bank - RTGS$ denomination September 2023 March 2024 On demand RTGS$350 million $Nil Stanbic Bank - USD denomination September 2023 March 2024 On demand $4 million $3.8 million Ecobank - USD denomination November 2022 December 2024 On demand $5 million $5 million Nedbank Zimbabwe - USD denomination December 2022 April 2024 On demand $3.5 million $3.4 million Nedbank Zimbabwe term loan - USD denomination April 2023 April 2024 On demand $3.5 million $3.5 million CABS – USD denomination August 2023 July 2024 On demand $2 million $2 million

Note 24 - Assets and Liabilit_2

Note 24 - Assets and Liabilities Associated With Assets Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of non-current assets or disposal groups classified as held for sale [text block]	2023 2022 Non-current assets held for sale Solar plant 13,519 – Liabilities associated with assets held for sale Site restoration liability 128 –

Note 25 - Share Capital (Tables

Note 25 - Share Capital (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of classes of share capital [text block]	Number of Amount January 1, 2022 12,756,606 82,667 Shares issued: - share-based payment - employees (note 12.1(a)) 76,520 804 December 31, 2022 12,833,126 83,471 Shares issued: - share-based payment - employees (note 12.1(a)) 24,389 351 - equity raise* 1,207,514 15,569 - Bilboes Gold Limited acquisition (note 5) 5,123,044 65,677 December 31, 2023 19,188,073 165,068

Note 26 - Reserves (Tables)

Note 26 - Reserves (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of reserves within equity [text block]	2023 2022 Foreign currency translation reserve (10,409 ) (9,787 ) Contributed surplus 132,591 132,591 Equity-settled share-based payment reserve 15,637 14,997 Total 137,819 137,801

Note 27 - Earnings Per Share (T

Note 27 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Earnings per share [text block]	Weighted average number of shares Basic earnings per share (in number of shares) 2023 2022 2021 Issued shares at the beginning of year (note 25) 12,833,126 12,756,606 12,118,823 Weighted average shares issued 5,792,435 74,214 51,462 Weighted average number of shares at December 31 18,625,561 12,830,820 12,170,285 Weighted average number of shares - Diluted earnings per share (in number of shares) 2023 2022 2021 Weighted average at December 31 18,625,561 12,830,820 12,170,285 Effect of dilutive options 6,550 6,482 6,933 Weighted average number of shares (diluted) at December 31 18,632,111 12,837,302 12,177,218 2023 2022 2021 Profit for the year attributable to owners of the Company (basic and diluted) (4,198 ) 17,903 18,405 Blanket Mine Employee Trust Adjustment (346 ) (517 ) (326 ) Profit attributable to ordinary shareholders (basic and diluted) (4,544 ) 17,386 18,079 Basic earnings per share - $ (0.24 ) 1.36 1.49 Diluted earnings per share - $ (0.24 ) 1.35 1.48

Note 28 - Non-controlling Int_2

Note 28 - Non-controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information in non-controlling interests [text block]	2023 2022 2021 Current assets 33,126 30,397 33,634 Non-current assets 188,134 172,611 154,003 Current liabilities (10,277 ) (9,583 ) (17,261 ) Non-current liabilities (10,901 ) (8,062 ) (11,535 ) Net assets of Blanket Mine (100%) 200,082 185,363 158,841 Carrying amount of NCI of 13.2% (2022: 13.2%, 2021: 13.2%) 24,477 22,409 19,260 Revenue 146,314 142,082 121,329 Profit after tax 27,215 38,389 35,911 Total comprehensive income of Blanket Mine (100%) 27,215 38,389 35,911 Profit allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%) 3,580 4,963 4,737 Dividend allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%) (1,512 ) (1,814 ) (2,001 ) Net cash inflow from operating activities 28,087 50,048 41,489 Net cash outflow from investing activities (28,146 ) (37,798 ) (29,850 ) Net cash outflow from financing activities (5,017 ) (16,506 ) (12,817 ) Net cash outflow (5,076 ) (4,256 ) (1,178 )

Note 29 - Provisions (Tables)

Note 29 - Provisions (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of other provisions [text block]	Reconciliation of site restoration provision 2023 2022 Blanket Mine Balance January 1 2,823 3,159 Unwinding of discount (note 17) 109 132 Change in estimate (Blanket Mine) (note 18) 1,834 (468 ) Balance December 31 4,766 2,823 Motapa, Maligreen and Bilboes Balance January 1 135 135 Change in estimate (Motapa) (note 17) 1,466 – Change in estimate (Maligreen) (note 17) 152 – Acquisition - (Bilboes) (note 5) 4,466 – Balance December 31 6,219 135 Total balance December 31 10,985 2,958 Current – – Non-current 10,985 2,958 10,985 2,958 Increase in provision as at December 31, 2023 Motapa 1,466 Maligreen 152 1,618

Note 30 - Loan Note Instrumen_2

Note 30 - Loan Note Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about borrowings [text block]	Loan note instruments - finance costs 2023 2022 Motapa loan notes 30.1 619 302 Solar loan notes 30.2 549 – 1,168 302 Loan note instruments - financial liabilities 2023 2022 Motapa loan notes 30.1 – 7,104 Solar loan notes 30.2 7,112 – 7,112 7,104 Current 665 7,104 Non-current 6,447 - 7,112 7,104 2023 2022 Balance January 1 7,104 - Fair value November 1, 2022 – 6,802 Finance cost accrued 619 302 Repayment - principal (7,250 ) - Repayment – finance cost paid (473 ) - Balance December 31 - 7,104 Current - 7,104 Non-current - - - 7,104 2023 2022 Balance January 1 – – Amounts received 7,000 – Transaction costs (105 ) – Finance cost accrued 549 – Repayment - finance cost paid (332 ) – Balance December 31 7,112 – Current 665 – Non-current 6,447 – 7,112 –

Note 31 - Trade and Other Pay_2

Note 31 - Trade and Other Payables (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information about trade and other payables [text block]	2023 2022 Trade payables 6,166 3,502 Electricity accrual 2,676 2,386 Audit fee 395 284 Dividends due 1,048 1,883 Solar plant supplier accrual – 1,852 Bilboes oxide project payable – 872 Other payables 692 651 Financial liabilities 10,977 11,430 Production and management bonus accrual - Blanket Mine 214 287 Other employee benefits - other 2,229 982 Other employee benefits - settlements 1,588 – Leave pay 2,655 2,462 Bonus provision 190 1,025 Accruals 2,650 1,268 Non-financial liabilities 9,526 6,024 Total 20,503 17,454

Note 32 - Cash Flow Informati_2

Note 32 - Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of detailed information of the cash flow statement [text block]	2023 2022 2021 Operating profit 15,177 40,276 38,360 Adjustments for: Impairment of property, plant and equipment (note 18) 877 8,209 497 Impairment of exploration and evaluation assets (note 17) – 467 3,837 Impairment of solar plant - VAT and duty receivables 720 – – Unrealised foreign exchange gains (note 13) (4,217 ) (12,736 ) (2,754 ) Cash-settled share-based expense (note 12.1) 463 609 477 Cash-settled share-based expense included in production costs (note 12.1) 660 853 692 Cash portion of cash-settled share-based expense (1,695 ) (1,468 ) (420 ) Equity-settled share-based expense (note 11.2) 640 484 – Depreciation (note 18) 14,486 10,141 8,046 Fair value loss on derivative instruments (note 14) 1,119 401 240 Profit on disposal of property, plant and equipment (note 18) 33 – – Derecognition of property, plant and equipment – – (38 ) Write down of inventory 283 563 – Expected credit losses on deferred consideration on the disposal of subsidiary – – 761 Cash generated from operations before working capital changes 28,546 47,799 49,698 Inventories (2,182 ) 1,915 (4,016 ) Prepayments 338 (1,375 ) (4,272 ) Trade and other receivables (1,910 ) (1,561 ) (4,746 ) Trade and other payables 1,606 2,879 2,039 Cash generated from operations 26,398 49,657 38,703

Note 33 - Financial Instrumen_2

Note 33 - Financial Instruments and Risk Management (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of credit risk exposure [text block]	Carrying amount 2023 2022 Zimbabwe 4,215 9,059 Jersey, Channel Islands – – Other regions 1,618 1 5,833 9,060
Disclosure of maturity analysis for non-derivative financial liabilities [text block]	December 31, 2023 Carrying Total 12 months Trade and other payables 10,977 10,977 10,977 Loan note payable 7,112 8,663 665 Lease liabilities 208 217 175 Overdraft and term loans 17,740 17,740 17,740 36,037 37,597 29,557 December 31, 2022 Carrying Total 12 months Trade and other payables 11,430 11,430 11,430 Loan note payable 7,104 7,723 7,723 Lease liabilities 313 342 152 Overdraft and term loans 5,239 5,239 5,239 24,086 24,734 24,544
Disclosure of gold price effect on derivative financial instruments [text block]	2023 2022 Derivative financial assets - Put option Increase by 5% of the gold price - - Decrease by 5% of the gold price 4 22 Fair value loss on derivative financial instruments 2023 2022 Derivative financial assets - Put option Increase by 5% of the gold price - - Decrease by 5% of the gold price 4 22
Sensitivity analysis for types of market risk [text block]	2023 2022 $'000 $'000 Functional currency Functional currency ZAR $ ZAR $ Cash and cash equivalents 62 4,706 62 3,443 USD denominated 61 - 62 - ZAR denominated - 989 - 631 RTGS$ denominated - 3,424 - 2,502 GBP denominated 1 293 - 235 CAD denominated - - - 75 Trade and other receivables - RTGS$ denominated - 3,118 - 2,607 Trade and other payables - RTGS$ denominated - (106 ) - (130 ) Overdraft and term loans - RTGS$ denominated - - - - 62 7,718 62 5,920 2023 2022 $'000 $'000 Functional currency Functional currency ZAR $ ZAR $ Cash and cash equivalents 3 177 3 134 Trade and other receivables - 148 - 124 Trade and other payables - (5 ) - (6 ) Overdraft and term loans - - - - 3 320 3 252 2023 2022 Cash and cash equivalents 6,708 6,735 Overdraft and term loans (17,740 ) (5,239 ) (11,032 ) 1,496 Sensitivity analysis - Cash and cash equivalents 2023 2022 Increase by 100 basis points 67 67 Decrease by 100 basis points (67 ) (67 ) Sensitivity analysis - Overdraft Increase by 100 basis points 177 52 Decrease by 100 basis points (177 ) (52 )

Note 34 - Dividends (Tables)

Note 34 - Dividends (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of dividends paid [text block]	2023 2022 2021 Dividends declared to owners of the Company 8,752 8,975 6,068 Dividends declared to NCI 1,512 1,814 2,001 10,264 10,789 8,069 Dividends declared and paid to owners of the Company 8,752 7,178 6,068 Dividends declared and paid to NCI 550 1,728 2,001 Dividends declared and due to owners of the Company - 1,797 - Dividends declared and due to NCI 1,048 86 - 10,350 10,789 8,069 Declaration date cents per share January 14, 2021 11.0 April 15, 2021 12.0 July 15, 2021 13.0 October 14, 2021 14.0 January 13, 2022 14.0 April 18, 2022 14.0 July 14, 2022 14.0 October 13, 2022 14.0 December 30, 2022 14.0 April 3, 2023 14.0 June 29, 2023 14.0 September 28, 2023 14.0

Note 36 - Related Parties (Tabl

Note 36 - Related Parties (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of information about key management personnel [text block]	2023 2022 2021 Key management salaries 3,102 2,076 2,234 Share-based awards* 720 999 540 All other compensation & 2,599 1,697 1,011 6,421 4,772 3,785

Note 37 - Group Entities (Table

Note 37 - Group Entities (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of interests in subsidiaries [text block]	Activity of Functional Country of Legal Intercompany 2023 2022 2023 2022 Caledonia Holdings Zimbabwe (Private) Limited Services $ Zimbabwe 100 100 (6,179) (6,683) Caledonia Mining Services (Private) Limited Solar power provider $ Zimbabwe 100 100 10,559 - Fintona Investments Proprietary Limited Dormant ZAR South Africa 100 100 14,860 14,859 Caledonia Mining South Africa Proprietary Limited Procurement and services ZAR South Africa 100 100 (8,700) (5,329) Greenstone Management Services Holdings Limited Investment holding $ United Kingdom 100 100 (48,149) (36,597) Blanket Mine (1983) (Private) Limited (2) Mining $ Zimbabwe 64 64 (217) 561 Blanket Employee Trust Services (Private) Limited ("BETS") (1) Employee trust $ Zimbabwe - - - - Motapa Mining Company UK Limited Investment holding $ United Kingdom 100 100 - - Arraskar Investments (Private) Limited Exploration $ Zimbabwe 100 100 - - Bilboes Gold Limited Investment holding $ Mauritius 100 - - - Bilboes Holdings (Private) Limited Gold project $ United Kingdom 100 - 805 - Caledonia Mining FZCO Procurement $ Dubai 100 - 61 - Caledonia (Connemara) (Private) Limited Dormant $ Zimbabwe 100 100 - - Caledonia (Maligreen) (Private) Limited Dormant $ Zimbabwe 100 100 - - Caledonia (Bilboes & Motapa) (Private) Limited Dormant $ Zimbabwe 100 - - -
Disclosure of transactions with subsidiaries [text block]	Loans advanced/ Interest received Foreign exchange 2023 2022 2023 2022 2023 2022 Caledonia Holdings Zimbabwe (Private) Limited (4 ) (424 ) 508 536 – – Caledonia Mining Services (Private) Limited 10,016 – 543 – – – Fintona Investments Proprietary Limited – – – – – – Caledonia Mining South Africa Proprietary Limited (3,591 ) (4,293 ) (455 ) – 675 370 Greenstone Management Services Holdings Limited (9,103 ) (13,681 ) (2,449 ) – – – Blanket Mine (1983) (Private) Limited (760 ) (509 ) (18 ) 40 – – Blanket Employee Trust Services (Private) Limited ("BETS") – – – – – – Motapa Mining Company UK Limited – – – – – – Arraskar Investments (Private) Limited – – – – – – Bilboes Gold Limited – – – – – – Bilboes Holdings (Private) Limited 805 – – – – – Caledonia Mining FZCO 61 – – – – – Caledonia (Connemara) (Private) Limited – – – – – – Caledonia (Maligreen) (Private) Limited – – – – – – Caledonia (Bilboes & Motapa) (Private) Limited – – – – – – (2,576 ) (18,907 ) (1,871 ) 576 675 370

Note 38 - Operating Segments (T

Note 38 - Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2023
Statement Line Items [Line Items]
Disclosure of operating segments [text block]	For the twelve months ended December 31, 2023 Blanket South Bilboes E&E Inter-group Corporate Total Revenue 140,615 – 5,699 – – – 146,314 Inter-segmental revenue – 17,623 – – (17,623 ) – – Royalty (7,318 ) – (319 ) – – – (7,637 ) Production costs (68,923 ) (16,788 ) (13,095 ) – 16,097 – (82,709 ) Depreciation (15,385 ) (139 ) – – 1,079 (41 ) (14,486 ) Other income 236 10 1 – (1,750 ) 1,766 263 Other expenses* (4,353 ) – (14 ) – – – (4,367 ) Administrative expenses (912 ) (4,301 ) (2,101 ) (8 ) 17 (10,124 ) (17,429 ) Management fee (3,468 ) 3,471 – – (3 ) – – Cash-settled share-based expense – – – – 660 (1,123 ) (463 ) Equity-settled share-based expense – – – – – (640 ) (640 ) Net foreign exchange (loss) gain (3,229 ) (144 ) 97 – (71 ) 797 (2,550 ) Fair value loss on derivative liabilities – – – – – (1,119 ) (1,119 ) Finance income – 39 – – – – 39 Finance cost (3,323 ) 448 (189 ) (22 ) (2 ) 64 (3,024 ) Profit (loss) before tax 33,940 219 (9,921 ) (30 ) (1,596 ) (10,420 ) 12,192 Tax expense (12,256 ) (235 ) – – (19 ) (300 ) (12,810 ) Profit (loss) after tax 21,684 (16 ) (9,921 ) (30 ) (1,615 ) (10,720 ) (618 ) As at December 31, 2023 Blanket South Bilboes E&E Inter-group Corporate Total Segment assets: Current (excluding intercompany, including assets held for sale) 51,236 2,363 – 401 (1,757 ) 1,986 54,229 Non-current (excluding intercompany) 188,426 697 – 92,664 (5,294 ) (2,419 ) 274,074 Assets held for sale (note 24) 13,519 – – – – – 13,519 Expenditure on property, plant and equipment (note 18) 43,496 120 – – (2,570 ) (11,440 ) 29,606 Expenditure on evaluation and exploration assets (note 17) – – – 76,693 – – 76,693 Intercompany balances 44,452 16,844 (214 ) – (145,523 ) 84,441 – Segment liabilities: Current (excluding intercompany) (31,747 ) (4,421 ) – (1,755 ) – (2,210 ) (40,133 ) Non-current (excluding intercompany) (17,634 ) – – (5,932 ) 4 (416 ) (23,978 ) Intercompany balances (24,412 ) (34,193 ) – (5,691 ) 145,523 (81,227 ) – For the twelve months ended December 31, 2022 Blanket South Africa E&E Inter-group Corporate Total Revenue 142,082 – – – – 142,082 Inter-segmental revenue – 19,885 – (19,885 ) – – Royalty (7,124 ) – – – – (7,124 ) Production costs (62,701 ) (18,883 ) – 18,586 – (62,998 ) Depreciation (10,735 ) (153 ) – 789 (42 ) (10,141 ) Other income 48 12 – – – 60 Other expenses* (11,289 ) (66 ) – – (427 ) (11,782 ) Administrative expenses (172 ) (3,047 ) – – (8,722 ) (11,941 ) Management fee (3,454 ) 3,454 – – – – Cash-settled share-based expense – – – 853 (1,462 ) (609 ) Equity-settled share-based expense – – – – (484 ) (484 ) Net foreign exchange gain (loss) 4,415 (119 ) – (291 ) 406 4,411 Fair value loss on derivative liabilities – – – – (1,198 ) (1,198 ) Finance income – 17 – – – 17 Finance cost (861 ) (25 ) – – 229 (657 ) Profit (loss) before tax 50,209 1,075 – 52 (11,700 ) 39,636 Tax expense (15,785 ) (252 ) – 117 (850 ) (16,770 ) Profit (loss) after tax 34,424 823 – 169 (12,550 ) 22,866 As at December 31, 2022 Zimbabwe South Africa E&E Inter-group Corporate Total Segment assets: Current (excluding intercompany) 33,130 1,448 – (83 ) 3,932 38,427 Non-current (excluding intercompany) 176,356 822 5,626 (5,446 ) 19,406 196,764 Expenditure on property, plant and equipment (note 18) 38,763 (881 ) 872 (1,355 ) 10,821 48,220 Expenditure on evaluation and exploration assets (note 17) 7,964 – 1,430 – 4 9,398 Intercompany balances 33,468 12,202 – (107,227 ) 61,557 – Segment liabilities: Current (excluding intercompany) (17,451 ) (1,901 ) – – (13,089 ) (32,441 ) Non-current (excluding intercompany) (8,197 ) (101 ) – 116 (1,109 ) (9,291 ) Intercompany balances (12,725 ) (34,753 ) – 107,227 (59,749 ) –

Note 4 - Material Accounting _2

Note 4 - Material Accounting Policies (Details Textual)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Feb. 03, 2023

Jul. 01, 2021 kg oz

Jan. 08, 2021

May 26, 2020

Nov. 12, 2018

Oct. 01, 2018

Dec. 31, 2021

Jun. 30, 2021 kg oz

Aug. 31, 2015 oz

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2023 oz

Dec. 31, 2022

Dec. 31, 2021

Feb. 20, 2019

Statement Line Items [Line Items]

Percentage of entity's revenue

100%

Introductory foreign exchange rate

2.5

2.5

Closing foreign exchange rate

108.67

6,104.72

6,104.72

684.33

108.67

2.5

Foreign currency allocation, percentage

75%

72.74%

60%

70%

55%

30%

72.74%

Foreign currency allocation, incremental revenue, percentage

100%

100%

Baseline level of production per month (Kilogram) | kg

148.38

148.38

Production per annum (Ounce)

57,000

57,000

Useful life measured as period of time, property, plant and equipment (Year)

10 years

5 years

Bottom of range [member]

Statement Line Items [Line Items]

Production per annum (Ounce)

75,000

77,822

Right of use assets, useful life (Year)

3 years

3 years

3 years

Top of range [member]

Statement Line Items [Line Items]

Production per annum (Ounce)

80,000

81,446

Right of use assets, useful life (Year)

6 years

6 years

6 years

Buildings [member] | Bottom of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

10 years

10 years

10 years

Buildings [member] | Top of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

15 years

15 years

15 years

Plant and equipment [member] | Bottom of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

5 years

5 years

5 years

Plant and equipment [member] | Top of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

10 years

10 years

10 years

Fixtures and fittings [member] | Bottom of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

4 years

4 years

4 years

Fixtures and fittings [member] | Top of range [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

10 years

10 years

10 years

Motor vehicles [member]

Statement Line Items [Line Items]

Useful life measured as period of time, property, plant and equipment (Year)

4 years

4 years

4 years

Bilboes [member]

Statement Line Items [Line Items]

Revenue Recognition, Fixed Royalty Rate

5%

5%

Revenue recognition, discount rate

1.25%

Fidelity Printers [member]

Statement Line Items [Line Items]

Revenue Recognition, Fixed Royalty Rate

1.25%

1.25%

Revenue recognition, average settlement period (Day)

14 days

Al Etihad Gold Refinery DMCC [Member]

Statement Line Items [Line Items]

Revenue recognition, average settlement period (Day)

2 days

Nedbank Zimbabwe [member]

Statement Line Items [Line Items]

Revenue Recognition, Fixed Royalty Rate

1.25%

1.25%

Royalty on gold sales

5%

Blanket (Barbados) Holdings Limited [member]

Statement Line Items [Line Items]

Revenue recognition, average settlement period (Day)

2 days

Percentage of entity's revenue

75%

Note 5 - Tribute Arrangement _3

Note 5 - Tribute Arrangement and Mining Agreement and Bilboes Gold Limited Acquisition (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			2 Months Ended	12 Months Ended
	Jan. 06, 2023	Jul. 21, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 11, 2023	Mar. 30, 2023
Statement Line Items [Line Items]
Administrative expenses				$ 17,429	$ 11,941	$ 9,091
Assets of Bilboes Gold Limited [member]
Statement Line Items [Line Items]
Acquisition, number of shares issuable (in shares)		5,123,044
Percentage of net smelter royalty		1%
Acquisition, number of shares issued (in shares)	4,425,797
Acquisition, escrow shares issuable (in shares)	441,095							441,095
Acquisition, deferred consideration shares issuable (in shares)	256,152						256,152
Acquistion, consideration shares issued (in shares)							5,123,044
Acquisition, consideration issued and issuable	$ 65,677						$ 65,677
Acquisition, consideration shares, closing share price (in dollars per share)							$ 12.82
Administrative expenses				$ 3,100
Caledonia Holdings Zimbabwe (Private) Limited [member] | Bilboes Holdings (Private) Limited [member]
Statement Line Items [Line Items]
Tribute agreement, rate of return		25%
Caledonia Holdings Zimbabwe (Private) Limited [member] | Bilboes Holdings (Private) Limited [member] | Oxide plant [member]
Statement Line Items [Line Items]
Property, plant and equipment, expenditures recognised in course of its construction		$ 872
Impairment of property, plant and equipment			$ 851

Note 5 - Tribute Arrangement _4

Note 5 - Tribute Arrangement and Mining Agreement and Bilboes Gold Limited Acquisition - Consideration Paid (Details) - USD ($) $ in Thousands	Jan. 06, 2023	Dec. 31, 2023	Apr. 11, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Bilboes oxide mine assets (pre-acquisition)		$ (179,649)		$ (178,983)
Exploration and evaluation assets		94,272		17,579	$ 8,648
Inventories		20,304		18,334
Cash and cash equivalents		6,708		6,735
Lease liabilities		$ (208)		$ (313)	$ (465)
Bilboes Holdings (Private) Limited [member] | Caledonia Holdings Zimbabwe (Private) Limited [member]
Statement Line Items [Line Items]
Prepayments	$ 877
Oxide plant [member] | Bilboes Holdings (Private) Limited [member] | Caledonia Holdings Zimbabwe (Private) Limited [member]
Statement Line Items [Line Items]
Bilboes oxide mine assets (pre-acquisition)	(872)
Assets of Bilboes Gold Limited [member]
Statement Line Items [Line Items]
Equity issued	65,677		$ 65,677
Initial consideration shares issued (4,425,797 at $12.82 per share)	56,739
Escrow shares issued (441,095 at $12.82 per share)	5,655
Deferred consideration shares issued (256,152 at $12.82 per share)	3,283
Prepayments	5
Total net consideration	65,682
Exploration and evaluation assets	73,198
Inventories	70
Trade and other receivables	802
Cash and cash equivalents	54
Provisions	(4,466)
Trade and other payables - external	(3,943)
Lease liabilities	(28)
Income tax payable	(10)
Total net consideration	$ 65,682

Note 5 - Tribute Arrangement _5

Note 5 - Tribute Arrangement and Mining Agreement and Bilboes Gold Limited Acquisition - Consideration Paid (Details) (Parentheticals) - Assets of Bilboes Gold Limited [member] - $ / shares	Jan. 06, 2023	Apr. 11, 2023	Mar. 30, 2023
Statement Line Items [Line Items]
Initial consideration shares issued (in shares)	4,425,797
Initial consideration shares issued, price per share (in dollars per share)	$ 12.82
Escrow shares issued (in shares)	441,095		441,095
Deferred consideration shares issued (in shares)	256,152	256,152

Note 6 - Blanket Zimbabwe Ind_3

Note 6 - Blanket Zimbabwe Indigenisation Transaction (Details Textual) - USD ($) $ in Thousands						2 Months Ended	5 Months Ended	7 Months Ended	12 Months Ended
		Jan. 20, 2020	Nov. 05, 2018	Jun. 23, 2017	Feb. 20, 2012	Apr. 30, 2013	Feb. 28, 2013	Sep. 30, 2012	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests					51%				36%
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity attributable to owners of parent					$ 30,090
Non-controlling interest, non-refundable donation					$ 1,000
Dividend loans, Percentage of dividend as payment of interest				80%	80%
Proportion of dividends declared accruing unconditionally					20%
Borrowings, interest rate				7.25%
Percentage of net assets recognised as NCI		13.20%			16.20%				13.20%	13.20%	13.20%
Proportion of ownership interest acquired			15%
Number of instruments or interests issued or issuable for cancellation of loan (in shares)		727,266
Non-controlling interests derecognized		$ 3,600
Reserve of share-based payments, increase (decrease) during period		$ 2,247
Proportion of ownership interest in subsidiary		64%
Cash advances on dividend loans						$ 1,000	$ 1,000	$ 2,000
NIEEF [member]
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests					16%				16%
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity attributable to owners of parent					$ 11,740
Proportion of ownership interest sold					16%
Non-controlling interests recognised, dividends declared accruing unconditionally					20%
Fremiro [member]
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests					15%
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity attributable to owners of parent					$ 11,010
Proportion of ownership interest sold					15%
Non-controlling interests recognised, dividends declared accruing unconditionally					20%
Non-controlling interests recognised, portion recognised to the extent net asset value exceeds faciliation loans					80%
BETS [member]
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests	[1]								10%
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity attributable to owners of parent					$ 7,340
Proportion of ownership interest sold					10%				10%
Community Trust [member]
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests					10%				10%
Proportion of ownership interest sold					10%
Non-controlling interests recognised, dividends declared accruing unconditionally					100%
Non-controlling interests recognised, portion recognised to the extent net asset value exceeds faciliation loans					80%
Non-controlling interests recognised, dividends declared accruing unconditionally employee participation					20%
[1]Accounted for under IAS19 Employee Benefits.

Note 6 - Blanket Zimbabwe Ind_4

Note 6 - Blanket Zimbabwe Indigenisation Transaction - Shareholder Percentages and Facilitation Loan Balances (Details) - USD ($) $ in Thousands			12 Months Ended
		Feb. 20, 2012	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Shareholding		51%	36%
NCI Recognized			13.20%
NCI subject to facilitation loans			12.80%
Faciliation loans	[1]		$ 13,397	$ 15,026
NIEEF [member]
Statement Line Items [Line Items]
Shareholding		16%	16%
NCI Recognized			3.20%
NCI subject to facilitation loans			12.80%
Faciliation loans	[1]		$ 8,489	9,414
Community Trust [member]
Statement Line Items [Line Items]
Shareholding		10%	10%
NCI Recognized			10%
NCI subject to facilitation loans			0%
Faciliation loans	[1]		$ 0	0
BETS [member]
Statement Line Items [Line Items]
Shareholding	[2]		10%
Faciliation loans	[1],[2]		$ 4,908	$ 5,612
[1]Facilitation loans are accounted for as equity instruments and are accordingly not recognised as loans receivable.[2]Accounted for under IAS19 Employee Benefits.

Note 6 - Blanket Zimbabwe Ind_5

Note 6 - Blanket Zimbabwe Indigenisation Transaction - Movement in Advance Dividend Loan (Details) - Reserve of share-based payments [member] - Faciliation Loans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Balance	$ 15,026	$ 16,712
Interest incurred	259	580
Dividends used to repay loan	(1,888)	(2,266)
Balance	$ 13,397	$ 15,026

Note 7 - Capital Management - C

Note 7 - Capital Management - Components of Capital (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Total equity	$ 264,192	$ 193,459	$ 180,556	$ 158,043

Note 8 - Revenue - Revenue from

Note 8 - Revenue - Revenue from Gold (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) oz t	Dec. 31, 2022 USD ($) oz t	Dec. 31, 2021 USD ($) oz t
Statement Line Items [Line Items]
Revenue		$ 146,314	$ 142,082	$ 121,329
Revenue - silver sales		118	116	122
Revenue - gold sales		$ 146,196	$ 141,966	$ 121,207
Total ounces gold sold (Ounce) | oz		76,532	80,094	68,617
Net work in progress (oz) (Ounce) | oz		1,934	681	(1,141)
Gold produced (oz) (Ounce) | oz		78,466	80,775	67,476
Tonnes milled (Metric Ton) | t		924,480	752,033	665,628
Grade (g/t)
Recovery (%)
Realised gold price ($/oz)		$ 1,910	$ 1,772	$ 1,766
Blanket Mine [member]
Statement Line Items [Line Items]
Revenue		140,615	142,082	121,329
Revenue - silver sales		114	116	122
Revenue - gold sales		$ 140,501	$ 141,966	$ 121,207
Total ounces gold sold (Ounce) | oz		73,482	80,094	68,617
Net work in progress (oz) (Ounce) | oz		1,934	681	(1,141)
Gold produced (oz) (Ounce) | oz		75,416	80,775	67,476
Tonnes milled (Metric Ton) | t		770,440	752,033	665,628
Grade (g/t)		3.25	3.56	3.36
Recovery (%)		93.8	93.8	93.9
Realised gold price ($/oz)		$ 1,912	$ 1,772	$ 1,766
Bilboes [member]
Statement Line Items [Line Items]
Revenue	[1]	5,699
Revenue - silver sales	[1]	4
Revenue - gold sales	[1]	$ 5,695
Total ounces gold sold (Ounce) | oz	[1]	3,050
Net work in progress (oz) (Ounce) | oz	[1]	0
Gold produced (oz) (Ounce) | oz	[1]	3,050
Tonnes milled (Metric Ton) | t	[1]	154,040
Grade (g/t)	[1]	1.15
Recovery (%)	[1]	54
Realised gold price ($/oz)	[1]	$ 1,867
[1]Bilboes Holdings was acquired on January 6, 2023. No production for 2022 and 2021.

Note 9 - Production Costs - Com

Note 9 - Production Costs - Components of Production Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Cost of sales	$ 82,709	$ 62,998	$ 53,126
Blanket Mine [member]
Statement Line Items [Line Items]
Production costs	69,591	62,998	53,126
Salaries and wages	25,042	23,037	20,609
Consumable materials	24,087	23,601	17,375
Consumable materials – COVID-19	0	311	297
Electricity costs	13,496	9,634	10,407
Safety	1,155	998	774
Cash-settled share-based expense (note 12.1(a))	637	853	692
On mine administration	2,783	2,736	1,806
Security	1,020	1,093	826
Solar operations and maintenance services	647	0	0
Obsolete inventory	283	563	36
Pre-feasibility exploration costs	441	172	304
Bilboes [member]
Statement Line Items [Line Items]
Production costs	13,118	0	0
Salaries and wages	2,796	0	0
Consumable materials	8,402	0	0
Electricity costs	553	0	0
Cash-settled share-based expense (note 12.1(a))	23	0	0
On mine administration	$ 1,344	$ 0	$ 0

Note 10 - Other Expenses - Sche

Note 10 - Other Expenses - Schedule of Other Expenses (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Intermediated Money Transaction Tax*	[1]	$ 1,266		$ 1,378	$ 799
COVID-19 donations		0		0	74
Community and social responsibility cost		1,504		898	1,167
Impairment loss recognised in profit or loss, property, plant and equipment		877		8,209	498
Impairment of exploration and evaluation assets (note 17)		0		467	3,837
Impairment Solar - VAT and duty receivables (note 21)		720		0	0
Bilboes pre-acquisition cost @	[2]	0		830	0
Expected credit losses on deferred consideration on the disposal of subsidiary		0		0	761
Other expenses		$ 4,367	[3]	$ 11,782	$ 7,136
[1]Intermediated Money Transfer Tax ("IMTT”) is tax chargeable in Zimbabwe on transfer of physical money, electronically or by any other means, between two or more persons. IMTT is levied at a rate of 2% on RTGS$ denominated transactions and 1% on local foreign currency denominated transactions and outbound foreign payments.[2]Cost incurred by CHZ between the effective date ( August 1, 2022) and the commencement date of the oxide mining operations ( December 1, 2022) relating to administration and other general costs. These costs were incurred to maintain the operational integrity of the oxide mine and do not relate to direct costs of bringing the oxide mine to the location and condition necessary for it to be capable of operating in the manner intended by CHZ.[3]Other expenses include impairment of plant and equipment of $26 for Blanket and $851 for the Bilboes oxide mine, as well as impairment of the solar VAT and duty receivable amounting to $720 for Blanket.

Note 11 - Administrative Expe_3

Note 11 - Administrative Expenses - Components of Administrative Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Investor relations	$ 576	$ 663	$ 439
Audit fee	396	294	267
Advisory services fees	4,406	1,459	614
Listing fees	749	512	609
Directors fees – Company	571	569	527
Directors fees – Blanket	61	56	51
Employee costs – salaries and bonusses	6,734	5,855	5,462
Employee costs – settlements	1,784	0	0
Other office administration cost	445	468	177
Information technology and communication cost – Group related	241	391	178
Management liability insurance	897	985	551
Travel costs	569	689	216
Administrative expenses	$ 17,429	$ 11,941	$ 9,091

Note 12 - Share-based Payment_2

Note 12 - Share-based Payments (Details Textual) $ in Thousands			12 Months Ended
	Apr. 07, 2023	Jan. 24, 2022	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Statement Line Items [Line Items]
Expense from cash-settled share-based payment transactions			$ 463	$ 609	$ 477
Expense from equity-settled share-based payment transactions			$ 640	484	0
Restricted stock units (RSUs) [member]
Statement Line Items [Line Items]
Vesting period of other equity instruments			3
Performance share units (PSUs) [member]
Statement Line Items [Line Items]
Liabilities from share-based payment transactions			$ 1,294	2,217
Expense from cash-settled share-based payment transactions			463	609	477
Value of other equity instruments exercised or vested in share-based payment arrangement, share capital			351	804	0
Performance share units (PSUs) [member] | Production costs [Member]
Statement Line Items [Line Items]
Total expense from share-based payment transactions			$ 660	$ 853	692
Performance share units (PSUs) [member] | Bottom of range [member]
Statement Line Items [Line Items]
Vesting period of other equity instruments			1
Performance probability			93%	93%
Performance multiplier			93%	93%
Performance share units (PSUs) [member] | Top of range [member]
Statement Line Items [Line Items]
Vesting period of other equity instruments			3
Performance probability			100%	100%
Performance multiplier			100%	100%
Equity-settled performance units (EPUs) [member]
Statement Line Items [Line Items]
Vesting period of other equity instruments			3
Performance probability			100%
Performance multiplier	100%	100%	100%
Expense from equity-settled share-based payment transactions			$ 640	$ 417	0
Share option programs [member]
Statement Line Items [Line Items]
Expense from equity-settled share-based payment transactions			$ 0	$ 67	$ 0
Option life, share options granted			10
Share-based compensation arrangement, percentage of outstanding stock maximum			10%
Number of share options outstanding in share-based payment arrangement at end of period			20,000

Note 12 - Share-based payment_3

Note 12 - Share-based payments - Inputs for Measurement of Grant Date Fair Values and Share Units Granted (Details)			12 Months Ended
	Apr. 07, 2023 USD ($) $ / shares	Jan. 24, 2022 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares
Restricted stock units (RSUs) [member]
Statement Line Items [Line Items]
Risk free rate			0%	3.88%
Fair value (USD) | $			$ 0	$ 12.52
Share price (USD) (in dollars per share) | $ / shares			$ 0	$ 12.4
Volatility			0%	1.29%
RSU dividends reinvested			1,980	1,980
Settlements/terminations			(19,565)	0
Total awards outstanding			0	19,565
Restricted stock units (RSUs) [member] | January 11, 2019 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | March 23, 2019 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 8, 2019 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | January 11, 2020 [member]
Statement Line Items [Line Items]
Grants			17,585	17,585
Restricted stock units (RSUs) [member] | March 31, 2020 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 1, 2020 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 9, 2020 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 14, 2020 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | October 5, 2020 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | January 11, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | April 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | May 14, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 14, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | August 13, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 6, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 20, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | October 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | October 11, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | November 12, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | December 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | January 11, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | January 12, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | May 13, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 1, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | July 1, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | October 1, 2022 [member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | April 7, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | May 15, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 1, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | June 7, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | August 10, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | September 1, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Restricted stock units (RSUs) [member] | October 3, 2023 [Member]
Statement Line Items [Line Items]
Grants			0	0
Performance share units (PSUs) [member]
Statement Line Items [Line Items]
Risk free rate			3.88%	3.88%
Fair value (USD) | $			$ 12.2	$ 12.42
Share price (USD) (in dollars per share) | $ / shares			$ 12.2	$ 12.42
Volatility			0.90%	0.91%
RSU dividends reinvested			0	0
Settlements/terminations			(144,772)	(254,491)
Total awards outstanding			182,314	224,408
Performance share units (PSUs) [member] | Bottom of range [member]
Statement Line Items [Line Items]
Performance multiplier percentage			93%	93%
Performance share units (PSUs) [member] | Top of range [member]
Statement Line Items [Line Items]
Performance multiplier percentage			100%	100%
Performance share units (PSUs) [member] | January 11, 2019 [member]
Statement Line Items [Line Items]
Grants			0	95,740
Performance share units (PSUs) [member] | March 23, 2019 [member]
Statement Line Items [Line Items]
Grants			0	28,287
Performance share units (PSUs) [member] | June 8, 2019 [member]
Statement Line Items [Line Items]
Grants			0	14,672
Performance share units (PSUs) [member] | January 11, 2020 [member]
Statement Line Items [Line Items]
Grants			69,678	114,668
Performance share units (PSUs) [member] | March 31, 2020 [member]
Statement Line Items [Line Items]
Grants			696	1,971
Performance share units (PSUs) [member] | June 1, 2020 [member]
Statement Line Items [Line Items]
Grants			0	1,740
Performance share units (PSUs) [member] | September 9, 2020 [member]
Statement Line Items [Line Items]
Grants			697	1,611
Performance share units (PSUs) [member] | September 14, 2020 [member]
Statement Line Items [Line Items]
Grants			5,300	20,686
Performance share units (PSUs) [member] | October 5, 2020 [member]
Statement Line Items [Line Items]
Grants			230	514
Performance share units (PSUs) [member] | January 11, 2021 [member]
Statement Line Items [Line Items]
Grants			56,244	78,875
Performance share units (PSUs) [member] | April 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	770
Performance share units (PSUs) [member] | May 14, 2021 [member]
Statement Line Items [Line Items]
Grants			964	2,389
Performance share units (PSUs) [member] | June 1, 2021 [member]
Statement Line Items [Line Items]
Grants			1,310	1,692
Performance share units (PSUs) [member] | June 14, 2021 [member]
Statement Line Items [Line Items]
Grants			398	507
Performance share units (PSUs) [member] | August 13, 2021 [member]
Statement Line Items [Line Items]
Grants			0	2,283
Performance share units (PSUs) [member] | September 1, 2021 [member]
Statement Line Items [Line Items]
Grants			0	553
Performance share units (PSUs) [member] | September 6, 2021 [member]
Statement Line Items [Line Items]
Grants			458	531
Performance share units (PSUs) [member] | September 20, 2021 [member]
Statement Line Items [Line Items]
Grants			460	526
Performance share units (PSUs) [member] | October 1, 2021 [member]
Statement Line Items [Line Items]
Grants			1,016	2,530
Performance share units (PSUs) [member] | October 11, 2021 [member]
Statement Line Items [Line Items]
Grants			450	500
Performance share units (PSUs) [member] | November 12, 2021 [member]
Statement Line Items [Line Items]
Grants			1,846	1,998
Performance share units (PSUs) [member] | December 1, 2021 [member]
Statement Line Items [Line Items]
Grants			900	936
Performance share units (PSUs) [member] | January 11, 2022 [member]
Statement Line Items [Line Items]
Grants			75,198	96,359
Performance share units (PSUs) [member] | January 12, 2022 [member]
Statement Line Items [Line Items]
Grants			825	825
Performance share units (PSUs) [member] | May 13, 2022 [member]
Statement Line Items [Line Items]
Grants			2,040	2,040
Performance share units (PSUs) [member] | June 1, 2022 [member]
Statement Line Items [Line Items]
Grants			1,297	1,297
Performance share units (PSUs) [member] | July 1, 2022 [member]
Statement Line Items [Line Items]
Grants			2,375	2,375
Performance share units (PSUs) [member] | October 1, 2022 [member]
Statement Line Items [Line Items]
Grants			2,024	2,024
Performance share units (PSUs) [member] | April 7, 2023 [Member]
Statement Line Items [Line Items]
Grants			79,521	0
Performance share units (PSUs) [member] | May 15, 2023 [Member]
Statement Line Items [Line Items]
Grants			581	0
Performance share units (PSUs) [member] | June 1, 2023 [Member]
Statement Line Items [Line Items]
Grants			617	0
Performance share units (PSUs) [member] | June 7, 2023 [Member]
Statement Line Items [Line Items]
Grants			572	0
Performance share units (PSUs) [member] | August 10, 2023 [Member]
Statement Line Items [Line Items]
Grants			5,514	0
Performance share units (PSUs) [member] | September 1, 2023 [Member]
Statement Line Items [Line Items]
Grants			1,617	0
Performance share units (PSUs) [member] | October 3, 2023 [Member]
Statement Line Items [Line Items]
Grants			14,258	0
Equity-settled performance units (EPUs) [member]
Statement Line Items [Line Items]
Fair value (USD) | $	$ 15.33	$ 10.15
Share price (USD) (in dollars per share) | $ / shares	$ 16.91	$ 11.5
Performance multiplier percentage	100%	100%	100%
Total awards outstanding	80,773	113,693

Note 13 - Net Foreign Exchang_3

Note 13 - Net Foreign Exchange Gain (Details Textual)							1 Months Ended
	Feb. 03, 2023	Jul. 01, 2021 kg oz	Jan. 08, 2021	May 26, 2020	Nov. 12, 2018	Oct. 01, 2018	Dec. 31, 2021	Jun. 30, 2021 kg oz	Mar. 25, 2024	Jan. 01, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 20, 2019
Statement Line Items [Line Items]
Closing foreign exchange rate							108.67				6,104.72	684.33	2.5
Foreign currency allocation, incremental revenue, percentage		100%						100%
Baseline level of production per month (Kilogram) | kg		148.38						148.38
Production per annum (Ounce) | oz		57,000						57,000
Foreign currency allocation, percentage	75%	72.74%	60%	70%	55%	30%	72.74%
Abnormally large changes in asset prices or foreign exchange rates [member]
Statement Line Items [Line Items]
Closing foreign exchange rate									20,945	6,105

Note 13 - Net Foreign Exchang_4

Note 13 - Net Foreign Exchange Gain - Foreign Exchange Gain (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Unrealised foreign exchange gain		$ 4,217	$ 12,736	$ 2,755
Realised foreign exchange loss*	[1]	(6,767)	(8,325)	(1,571)
Net foreign exchange (loss) gain	[2]	$ (2,550)	$ 4,411	$ 1,184
[1]Realised foreign exchange losses were predominantly recognised on bullion sales receivables, bank balances and RTGS$ VAT.[2]After December 31, 2023 the RTGS$:USD conversion rate devalued from RTGS$ 6,105:USD 1 to RTGS$ 20,945:USD 1 on March, 25 2024. The devaluation in the exchange rate will devalue RTGS$-denominated monetary assets in quarter 1, of 2024.

Note 14 - Derivative Financia_3

Note 14 - Derivative Financial Instruments (Details Textual)

1 Months Ended

12 Months Ended

Apr. 10, 2024 USD ($)

Mar. 07, 2024 USD ($)

Dec. 19, 2023 USD ($)

Oct. 06, 2023 USD ($)

Sep. 29, 2023 USD ($)

Sep. 23, 2023 USD ($)

May 22, 2023 USD ($)

Dec. 22, 2022 USD ($)

Mar. 09, 2022 USD ($)

Feb. 17, 2022 USD ($)

Dec. 13, 2021 USD ($) oz

Oct. 31, 2023 USD ($)

Apr. 30, 2022 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Oct. 26, 2023 USD ($)

Jul. 31, 2022 USD ($)

May 31, 2022 USD ($)

Mar. 31, 2022 USD ($)

Statement Line Items [Line Items]

Gold price, price per ounce

$ 1,900

Proceeds from (Payments for) Derivative Financial Instruments

$ 178,000

$ 178,000

$ 0

$ 1,066,000

Auramet International LLC [Member] | Gold loan agreement [member]

Statement Line Items [Line Items]

Proceeds from derivative financial liabilities

$ 3,000,000

Number of Deliveries

2

Repayment gold loan, delivery mass of each (Ounce) | oz

925

Financial liabilities, at fair value

$ 1,833,000

Auramet International LLC [Member] | Call option 1 [member]

Statement Line Items [Line Items]

Call options, mass (Ounce) | oz

6,000

Strike price per ounce

$ 2,000

Top of range [member]

Statement Line Items [Line Items]

Gold price, price per ounce

$ 1,900

$ 1,900

$ 2,034

Put option 1 [member]

Statement Line Items [Line Items]

Derivative contract, number of ounces of gold hedged

12,000

28,000

16,672

Hedging instruments, protected, price

$ 1,950

$ 1,900

$ 1,750

Put option 1 [member] | Purchase of put options to hedge [member]

Statement Line Items [Line Items]

Derivative contract, number of ounces of gold hedged

12,000

12,000

Hedging instruments, protected, price

$ 2,100

$ 2,050

Purchase option [member]

Statement Line Items [Line Items]

Derivative contract, number of ounces of gold hedged

1,000

1,000

1,000

Hedging instruments, protected, price

$ 1,841

$ 1,875

$ 1,875

Zero cost contract to hedge 20,000 ounces of gold [member]

Statement Line Items [Line Items]

Derivative contract, number of ounces of gold hedged

20,000

Term of derivative contract (Month)

5 months

Hedging contract, cap

$ 1,940

Hedging contract, collar

$ 1,825

Hedging instrument, ounces of gold hedged per month

4,000

Call options to hedge ounces of gold [member]

Statement Line Items [Line Items]

Strike price per ounce

$ 1,959.5

Hedging instrument, ounces of gold hedged per month

4,000

2,400

Hedging instrument, liabilities

$ 796

$ 176

Call options to hedge ounces of gold [member] | Auramet International LLC [Member]

Statement Line Items [Line Items]

Strike price per ounce

$ 1,886

Hedging instrument, ounces of gold hedged per month

2,400

Hedging instrument, liabilities

$ 176

Call options to hedge ounces of gold [member] | Abnormally large changes in asset prices or foreign exchange rates [member]

Statement Line Items [Line Items]

Strike price per ounce

$ 2,200

$ 2,100

Note 14 - Derivative Financia_4

Note 14 - Derivative Financial Instruments - Fair Value Losses and Cash Flows on Derivative Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Cash flows arising from investing activites	$ (768)	$ (478)	$ 1,066
Cash flows arising from financing activities	0	(3,458)	2,960
Derivative assets [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	1,119	1,198	240
Put option 1 [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	1,097	38	0
Cash flows arising from investing activites	(946)	(478)	0
Purchase option [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	22	0	0
Cash flows arising from investing activites	178	0	0
Gold loan agreement [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	0	(228)	21
Cash flows arising from financing activities	0	(3,698)	2,752
Call option 1 [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	0	(240)	0
Cash flows arising from financing activities, proceeds	0	0	208
Cap and collar options and call options [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	0	832	114
Cash flows arising from financing activities, proceeds	0	416	0
Call options transaction costs [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	0	796	0
Gold ETF [member]
Statement Line Items [Line Items]
Fair value losses on derivative financial instruments	0	0	105
Cash flows arising from investing activites	0	0	1,066
Call options acquisitions [member]
Statement Line Items [Line Items]
Cash flows arising from financing activities, proceeds	$ 0	$ (176)	$ 0

Note 14 - Derivative Financia_5

Note 14 - Derivative Financial Instruments - Derivative Financial Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Derivatives financial assets	$ 88	$ 440
Put option 1 [member]
Statement Line Items [Line Items]
Derivatives financial assets	$ 88	$ 440

Note 14 - Derivative Financia_6

Note 14 - Derivative Financial Instruments - Derivative Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Purchase option [member]
Statement Line Items [Line Items]
Derivative liabilities	$ 0	$ 0
Gold loan agreement [member]
Statement Line Items [Line Items]
Derivative liabilities	0	0
Call option 1 [member]
Statement Line Items [Line Items]
Derivative liabilities	0	0
Cap and collar options and call options [member]
Statement Line Items [Line Items]
Derivative liabilities	$ 0	$ 0

Note 14 - Derivative Financia_7

Note 14 - Derivative Financial Instruments - Allocation of Proceeds Received (Details) - Auramet International LLC [Member] $ in Thousands	Dec. 13, 2021 USD ($)
Statement Line Items [Line Items]
Net proceeds received	$ 2,960
Call option 1 [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value	208
Gold loan agreement [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value	$ 2,752

Note 15 - Finance Income and _3

Note 15 - Finance Income and Finance Costs - Components of Finance Income and Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Finance income received - Bank	$ 39	$ 17	$ 14
Unwinding of rehabilitation provision (note 29)	109	132	0
Finance cost - Leases (note 19)	22	31	24
Zimbabwe Electricity Supply Authority interest	68	0	226
Finance cost – Overdraft and term loans	1,657	192
Finance cost - Capitalised to property, plant and equipment (note 18)	0	0	(17)
Finance cost	3,024	657	375
Term loan and bank overdraft [member]
Statement Line Items [Line Items]
Finance cost – Overdraft and term loans	1,657	192	86
Motapa loan notes payable [member]
Statement Line Items [Line Items]
Finance cost - notes payable	619	302	0
Solar loan notes [member]
Statement Line Items [Line Items]
Finance cost - notes payable	549	0	0
Term loan [member]
Statement Line Items [Line Items]
Finance cost - Term Loan	$ 0	$ 0	$ 56

Note 16 - Tax Expense (Details

Note 16 - Tax Expense (Details Textual) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 01, 2024	Nov. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Applicable tax rate					25.75%
Total average effective tax rate					105.07%	42.31%
Net deferred tax assets				$ 153	$ 153	$ 202
Net deferred tax liabilities				6,131	6,131	5,123
South African operations [member]
Statement Line Items [Line Items]
Net deferred tax assets				153	153	202
Zimbabwean operations [member]
Statement Line Items [Line Items]
Net deferred tax liabilities				$ 6,131	$ 6,131	$ 5,123
Jersey, Channel Islands [member]
Statement Line Items [Line Items]
Applicable tax rate					0%	0%	0%
Zimbabwean operations [member]
Statement Line Items [Line Items]
Tax rate effect of foreign tax rates		24.72%			24.72%	24.72%
Zimbabwean operations [member] | Changes in tax rates or tax laws enacted or announced [member]
Statement Line Items [Line Items]
Tax rate effect of foreign tax rates	25.75%
South African operations [member]
Statement Line Items [Line Items]
Tax rate effect of foreign tax rates			28%	27%	27%	28%
Bilboes [member]
Statement Line Items [Line Items]
Tax effect of acquisition					$ 3,763

Note 16 - Tax Expense - Income

Note 16 - Tax Expense - Income Tax Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax recognised in profit or loss
Current tax	$ 7,642	$ 9,932	$ 9,051
Income tax - current year	4,821	8,707	8,769
Income tax - change in tax estimate	1,944	(46)	(168)
Withholding tax - current year	867	1,271	450
Acquisition of Bilboes Gold tax liability (note 5)	(10)	0	0
Deferred tax expense	5,168	6,838	5,806
Origination and reversal of temporary differences	5,168	6,838	5,806
Tax expense – recognised in profit or loss	12,810	16,770	14,857
Income tax - current year	0	0	0
Tax expense	12,810	16,770	14,857
Bilboes [member]
Tax recognised in profit or loss
Acquisition of Bilboes Gold tax liability (note 5)	$ 10	$ 0	$ 0

Note 16 - Tax Expense - Unrecog

Note 16 - Tax Expense - Unrecognised Deferred Tax Assets (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Bilboes Holdings (Private) Limited [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets	[1]	$ 4,447	$ 0	$ 0
Caledonia Holdings Zimbabwe (Private) Limited [member] | Mining [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets		2,942	0	0
Caledonia Holdings Zimbabwe (Private) Limited [member] | Services [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets		1,805	1,805	1,205
Blanket Employee Trust Services (Private) Limited (BETS) [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets		260	227	130
Caledonia Mining Services Limited [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets		0	69	5
Greenstone Management Services Holdings Limited [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets	[2]	144	176	139
Unused tax losses [member]
Statement Line Items [Line Items]
Unrecognised deferred tax assets		$ 9,598	$ 2,277	$ 1,479
[1]Assessed losses of Bilboes of $3,763 was acquired during 2023.[2]Assessed losses of Greenstone Management Services (Pty) Ltd (UK) are not carried over and reset to zero each year.

Note 16 - Tax Expense - Tax Pai

Note 16 - Tax Expense - Tax Paid (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Net income tax receivable/ (payable)	$ (1,284)	$ (1,461)	$ (419)
Current tax expense	(7,642)	(9,932)	(9,051)
Acquisition of Bilboes Gold tax liability (note 5)	(10)	0	0
Foreign currency movement	840	3,243	583
Tax paid	9,206	6,866	7,426
Net income tax receivable/ (payable)	$ 1,110	$ (1,284)	$ (1,461)

Note 16 - Tax Expense - Reconci

Note 16 - Tax Expense - Reconciliation of Tax Rate (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Profit for the year		$ (618)	$ 22,866	$ 23,142
Total tax expense		12,810	16,770	14,857
Profit before tax		12,192	39,636	37,999
Income tax at Company's domestic tax rate (1)	[1]	0	0	0
Tax rate differences in foreign jurisdictions (2)	[2]	5,808	12,600	11,847
Effect of income tax calculated in RTGS$ as required by PN26 (3)	[3]	0	713	590
Management fee – withholding tax on deemed dividend portion		398	247	342
Management fee – non-deductible deemed dividend		675	735	611
Management fee – withholding tax - current year		169	174	148
Withholding tax on intercompany dividends		300	850	0
- Donations		318	269	311
- Other non-deductible expenditure		37	1,613	904
Unrealised foreign exchange gains		(642)	(1,322)	(614)
Change in unrecognised tax losses		3,803	937	886
Tax expense – recognised in profit or loss		12,810	16,770	14,857
Zimbabwe Area [member]
Statement Line Items [Line Items]
Change in tax estimates		1,891	0	(166)
SOUTH AFRICA
Statement Line Items [Line Items]
Change in tax estimates		$ 53	$ (46)	$ (2)
[1]The tax rate in Jersey, Channel Islands is 0% (2022: 0%, 2021: 0%).[2]The effective tax rate of 105.07% (2022: 42.31%) exceeds the statutory tax rates of subsidiaries of the Company, as certain expenditures are incurred by the Company that are not tax-deductible against taxable income in Zimbabwe and South Africa, where the enacted tax rates are 24.72% (2022: 24.72%) and 27.00% (2022: 28%) respectively.[3]In 2019 ZIMRA issued PN26 that was affected retrospectively from February 22, 2019. The public notice provided clarity on Section 4 (a) of the Finance Act [Chapter 23.04] of Zimbabwe, which required that the calculation of taxable income be performed in RTGS$ and that the payment of the tax be in the ratio of the currency that the taxable income and revenue is earned. The reconciling item reconciled the profit before tax calculated using US Dollars as the functional currency of the Zimbabwean entities to taxable income calculated in RTGS$. PN26 was superseded by Section 37AA of the Income Tax Act [Chapter 23:06] of Zimbabwe, which requires taxpayers to submit separate tax returns where any part of the income from trade or investment is earned in foreign currency. Section 37AA stated that the calculation of taxable income be expressed in foreign currency and RTGS$ and that the payment of the tax payable be made proportionately to reflect the percentage share of income earned in all foreign currencies and the percentage earned in Zimbabwe dollars. The section further provides that the RTGS$ should be converted to US$ using the average auction rate of exchange for the year of assessment, with the same being applicable to US$ amounts that need to be converted to RTGS$.

Note 16 - Tax Expense - Recogni

Note 16 - Tax Expense - Recognised Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Deferred tax asset		$ 525	$ 1,409
Deferred tax liability		(6,503)	(6,330)
Net deferred tax asset (liability)		(5,978)	(4,921)	$ (7,840)
Deferred tax asset		(525)	(1,409)
Net deferred tax asset (liability)		(5,978)	(4,921)	(7,840)
Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)	[1]	(5,978)	(4,921)
Net deferred tax asset (liability)	[1]	(5,978)	(4,921)
Property, plant, and equipment deferred tax liability [member]
Statement Line Items [Line Items]
Deferred tax asset		0	0
Deferred tax liability		(6,348)	(6,323)
Net deferred tax asset (liability)		(6,348)	(6,323)	(9,328)
Deferred tax asset		0	0
Net deferred tax asset (liability)		(6,348)	(6,323)	(9,328)
Property, plant, and equipment deferred tax liability [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		(6,348)	(6,323)
Net deferred tax asset (liability)		(6,348)	(6,323)
Evaluation and exploration assets [member]
Statement Line Items [Line Items]
Deferred tax asset		0	0
Deferred tax liability		(146)	(2)
Net deferred tax asset (liability)		(146)	(2)	(47)
Deferred tax asset		0	0
Net deferred tax asset (liability)		(146)	(2)	(47)
Evaluation and exploration assets [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		(146)	(2)
Net deferred tax asset (liability)		(146)	(2)
Allowance for obsolete stock deferred tax asset [member]
Statement Line Items [Line Items]
Deferred tax asset		65	163
Deferred tax liability		0	0
Net deferred tax asset (liability)		65	(163)	3
Deferred tax asset		(65)	(163)
Net deferred tax asset (liability)		65	(163)	3
Allowance for obsolete stock deferred tax asset [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		65	(163)
Net deferred tax asset (liability)		65	(163)
Prepayments deferred tax liability [member]
Statement Line Items [Line Items]
Deferred tax asset		0	0
Deferred tax liability		(9)	(5)
Net deferred tax asset (liability)		(9)	(5)	(10)
Deferred tax asset		0	0
Net deferred tax asset (liability)		(9)	(5)	(10)
Prepayments deferred tax liability [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		(9)	(5)
Net deferred tax asset (liability)		(9)	(5)
Unrealised foreign exchange gains (losses) [member]
Statement Line Items [Line Items]
Deferred tax asset		0	733
Deferred tax liability		0	0
Net deferred tax asset (liability)		0	733	499
Deferred tax asset		0	(733)
Net deferred tax asset (liability)		0	733	499
Unrealised foreign exchange gains (losses) [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		0	733
Net deferred tax asset (liability)		0	733
Trade and Other Payables 1 [Member]
Statement Line Items [Line Items]
Deferred tax asset		190	814
Deferred tax liability		0	0
Deferred tax asset		(190)	(814)
Trade and Other Payables 1 [Member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		190	814
Net deferred tax asset (liability)		190	814
Provisions [member]
Statement Line Items [Line Items]
Deferred tax asset		204	25
Deferred tax liability		0	0
Net deferred tax asset (liability)		204	25	54
Deferred tax asset		(204)	(25)
Net deferred tax asset (liability)		204	25	$ 54
Provisions [member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		204	25
Net deferred tax asset (liability)		204	25
Other Temporary Differences 1 [Member]
Statement Line Items [Line Items]
Deferred tax asset		66	0
Deferred tax liability		0	0
Deferred tax asset		(66)	0
Other Temporary Differences 1 [Member] | Net tax assets (liabilities) [member]
Statement Line Items [Line Items]
Net deferred tax asset (liability)		66	0
Net deferred tax asset (liability)		$ 66	$ 0
[1]The net deferred tax liability consists of a deferred tax asset of $153 (2022: $202) from the South African operation and a net deferred tax liability of $6,131 (2022: $5,123) due to the Zimbabwean operation. The amounts are in different tax jurisdictions and cannot be offset. The amounts are presented as part of non-current assets and non-current liabilities in the statements of financial position. The deferred tax asset recognised is supported by evidence of probable future taxable income.

Note 16 - Tax Expense - Movemen

Note 16 - Tax Expense - Movement in Recognised Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	$ (4,921)	$ (7,840)
Recognised in profit or loss	(5,168)	(6,838)
Foreign exchange movement	4,111	9,757
Deferred tax assets (liabilities)	(5,978)	(4,921)
Recognised in profit or loss	(5,168)	(6,838)
Property, plant, and equipment deferred tax liability [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	(6,323)	(9,328)
Recognised in profit or loss	(5,737)	(8,560)
Foreign exchange movement	5,712	11,565
Deferred tax assets (liabilities)	(6,348)	(6,323)
Recognised in profit or loss	(5,737)	(8,560)
Evaluation and exploration assets [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	(2)	(47)
Recognised in profit or loss	0	10
Foreign exchange movement	(144)	35
Deferred tax assets (liabilities)	(146)	(2)
Recognised in profit or loss	0	10
Allowance for obsolete stock deferred tax asset [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	(163)	3
Recognised in profit or loss	90	(295)
Foreign exchange movement	138	129
Deferred tax assets (liabilities)	65	(163)
Recognised in profit or loss	90	(295)
Prepayments deferred tax liability [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	(5)	(10)
Recognised in profit or loss	(5)	4
Foreign exchange movement	1	1
Deferred tax assets (liabilities)	(9)	(5)
Recognised in profit or loss	(5)	4
Unrealised foreign exchange gains (losses) [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	733	499
Recognised in profit or loss	0	1,179
Foreign exchange movement	(733)	(945)
Deferred tax assets (liabilities)	0	733
Recognised in profit or loss	0	1,179
Trade and other payables [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	814	989
Recognised in profit or loss	(111)	794
Foreign exchange movement	(513)	(969)
Deferred tax assets (liabilities)	190	814
Recognised in profit or loss	(111)	794
Provisions [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	25	54
Recognised in profit or loss	529	30
Foreign exchange movement	(350)	(59)
Deferred tax assets (liabilities)	204	25
Recognised in profit or loss	529	30
Other [member]
Statement Line Items [Line Items]
Deferred tax assets (liabilities)	0
Recognised in profit or loss	66
Foreign exchange movement	0
Deferred tax assets (liabilities)	66	$ 0
Recognised in profit or loss	$ 66

Note 17 - Exploration and Eva_3

Note 17 - Exploration and Evaluation Assets (Details Textual) $ in Thousands			12 Months Ended
		Nov. 03, 2021 USD ($) ha oz t	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)	Nov. 09, 2022 USD ($)	Nov. 07, 2022 oz t GT	Nov. 01, 2022 USD ($) oz
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, exploration and evaluation assets			$ 0	$ 467	[1]
Cash flows from (used in) exploration for and evaluation of mineral resources, classified as investing activities			(1,837)	(2,596)		$ (5,717)
Maligreen [member]
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, exploration and evaluation assets	[1]			$ 0
Historic gold mined, mass (Ounce) | oz		20,000
Cash flows from (used in) exploration for and evaluation of mineral resources, classified as investing activities		$ (4,000)
Exploration and evaluation work, period (Year)		30 years
Estimated meters of diamond core and percussion drilling		60,000
Estimated bulk metallurgical test work (Metric Ton) | t		3.5
Area of land (Hectare) | ha		550
Indicated mineral resources (Metric Ton) | t								8,030,000
Grade of indicated mineral resources (Gigaton) | GT								1.71
Estimated gold in mineral resources (Ounce) | oz								442,000
Inferred Mineral Resource (Metric Ton) | t								6,170,000
Grade of inferred mineral resources (Gigaton) | GT								2.12
Estimated gold in inferred mineral resource (Ounce) | oz								420,000
Bilboes [member]
Statement Line Items [Line Items]
Non cash acquisitions, exploration and evaluation assets			73,198
Non cash acquisitions, exploration and evaluation assets, decommissioned			1,618
Non cash acquisitions, exploration and evaluation assets, right of use assets			$ 40
Motapa [member]
Statement Line Items [Line Items]
Historic gold mined, mass (Ounce) | oz									300,000
Cash transferred							$ 41		$ 1,000
Financial liabilities recognised as of acquisition date									$ 0
[1]Caledonia completed sufficient work to establish that the potential orebody at the Connemara North property would not meet Caledonia’s requirements in terms of size, grade and width. Accordingly, Caledonia did not exercise the option to acquire the property. The costs have been impaired to $Nil.

Note 17 - Exploration and Eva_4

Note 17 - Exploration and Evaluation Assets - Exploration and Evaluation Assets (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Balance at beginning of period		$ 17,579	$ 8,648
- Mining claims acquired		73,198	7,844
- Consumables and drilling		1,005	1,206
- Contractor		2	4
- Labour		488	308
- Power		7	36
Impairment *		0	(467)	[1]
Decommissioning asset estimation adjustment		1,618
- Other		375
Balance		94,272	17,579
Bilboes [member]
Statement Line Items [Line Items]
Balance at beginning of period		0	0
- Mining claims acquired		73,198	0
- Consumables and drilling		0	0
- Contractor		0	0
- Labour		0	0
- Power		0	0
Impairment *	[1]		0
Decommissioning asset estimation adjustment		0
- Other		375
Balance		73,573	0
Motapa [member]
Statement Line Items [Line Items]
Balance at beginning of period		7,844	0
- Mining claims acquired		0	7,844
- Consumables and drilling		903	0
- Contractor		2	0
- Labour		377	0
- Power		0	0
Impairment *	[1]		0
Decommissioning asset estimation adjustment		1,466
- Other		0
Balance		10,592	7,844
Maligreen [member]
Statement Line Items [Line Items]
Balance at beginning of period		5,626	4,196
- Mining claims acquired		0	0
- Consumables and drilling		102	1,170
- Contractor		0	0
- Labour		111	260
- Power		7	0
Impairment *	[1]		0
Decommissioning asset estimation adjustment		152
- Other		0
Balance		5,998	5,626
Connemara North [member]
Statement Line Items [Line Items]
Balance at beginning of period		0	463
- Mining claims acquired		0	0
- Consumables and drilling		0	0
- Contractor		0	4
- Labour		0	0
- Power		0	0
Impairment *	[1]		(467)
Decommissioning asset estimation adjustment		0
- Other		0
Balance		0	0
GG [member]
Statement Line Items [Line Items]
Balance at beginning of period		3,723	3,618
- Mining claims acquired		0	0
- Consumables and drilling		0	36
- Contractor		0	0
- Labour		0	37
- Power		0	32
Impairment *	[1]		0
Decommissioning asset estimation adjustment		0
- Other		0
Balance		3,723	3,723
Sabiwa [member]
Statement Line Items [Line Items]
Balance at beginning of period		294	290
- Mining claims acquired		0	0
- Consumables and drilling		0	0
- Contractor		0	0
- Labour		0	0
- Power		0	4
Impairment *	[1]		0
Decommissioning asset estimation adjustment		0
- Other		0
Balance		294	294
Abercorn [member]
Statement Line Items [Line Items]
Balance at beginning of period		27	16
- Mining claims acquired		0	0
- Consumables and drilling		0	0
- Contractor		0	0
- Labour		0	11
- Power		0	0
Impairment *	[1]		0
Decommissioning asset estimation adjustment		0
- Other		0
Balance		27	27
Valentine [member]
Statement Line Items [Line Items]
Balance at beginning of period		65	65
- Mining claims acquired		0	0
- Consumables and drilling		0	0
- Contractor		0	0
- Labour		0	0
- Power		0	0
Impairment *	[1]		0
Decommissioning asset estimation adjustment		0
- Other		0
Balance		$ 65	$ 65
[1]Caledonia completed sufficient work to establish that the potential orebody at the Connemara North property would not meet Caledonia’s requirements in terms of size, grade and width. Accordingly, Caledonia did not exercise the option to acquire the property. The costs have been impaired to $Nil.

Note 18 - Property, Plant and_3

Note 18 - Property, Plant and Equipment (Details Textual)		1 Months Ended		3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 01, 2021 oz	Jun. 30, 2021 oz	Aug. 31, 2015 oz	Mar. 31, 2023	Dec. 31, 2023 USD ($) oz	Dec. 31, 2023 USD ($) oz	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 26, 2023 USD ($)	Oct. 06, 2023 USD ($)	Sep. 29, 2023 USD ($)	Jun. 27, 2023 USD ($)
Statement Line Items [Line Items]
Additions other than through business combinations, property, plant and equipment						$ 29,606,000	$ 48,220,000
Impairment loss recognised in profit or loss, property, plant and equipment						877,000	8,209,000	$ 498,000
Total property, plant and equipment					$ 179,649,000	179,649,000	178,983,000
Notional amount					12,000	12,000
Impairment loss for oxide assets, carrying value												$ 851,000
Gold price, price per ounce									$ 1,900
Production per annum (Ounce) | oz	57,000	57,000
Peak capex					$ 30,800,000	$ 30,800,000
Weighted average cost of capital, percentage					15.40%	15.40%
Applicable tax rate						25.75%
Estimated production in mine remaining (Ounce) | oz					160,000	160,000
Useful life measured as period of time, property, plant and equipment (Year)				10 years	5 years
Total capital commitments					$ 2,035,000	$ 2,035,000	4,066,000
Bottom of range [member]
Statement Line Items [Line Items]
Gold price, price per ounce					$ 1,748	$ 1,748
Grade range					3.14	3.14
Production per annum (Ounce) | oz			75,000			77,822
On mine cost					$ 892	$ 892
Top of range [member]
Statement Line Items [Line Items]
Gold price, price per ounce					$ 2,034	$ 2,034				$ 1,900	$ 1,900
Grade range					3.29	3.29
Production per annum (Ounce) | oz			80,000			81,446
On mine cost					$ 1,427	$ 1,427
Construction in progress [member]
Statement Line Items [Line Items]
Additions other than through business combinations, property, plant and equipment						$ 1,962,000	468,000
Development assets [member]
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, property, plant and equipment							8,518,000
Power generating assets [member]
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, property, plant and equipment							791,000
Loader bottom decks [member]
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, property, plant and equipment							101,000
Impaired assets [member]
Statement Line Items [Line Items]
Total property, plant and equipment							$ 0

Note 18 - Property, Plant, and

Note 18 - Property, Plant, and Equipment - Reconciliation of Changes in Property, Plant, and Equipment (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Dec. 31, 2023	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Statement Line Items [Line Items]
Balance at beginning of period			$ 178,983
Additions*			29,606		$ 48,220
Impairments@			(877)		(8,209)		$ (498)
Balance at end of period		$ 179,649	179,649		178,983
Depreciation for the year		2,158
Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			233,826		195,138
Additions*	[1]		29,606		47,348
Impairments@			(908)	[2]	(9,516)	[3]
Reallocations between asset classes			0		0
Acquisition of Bilboes oxide assets (Tribute) (note 5)					872
Foreign exchange movement			(66)		(16)
Disposals			(33)
Reallocate to assets held for sale			(14,301)
Balance at end of period		248,124	248,124		233,826		195,138
Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			(31)		(1,307)
Foreign exchange movement			(41)		(27)
Balance at beginning of period			54,843		46,036
Depreciation for the year			14,486		10,141
Accumulated depreciation for assets reallocated to assets held for sale			(782)
Balance at end of period		68,475	68,475		54,843		46,036
Land and buildings [member]
Statement Line Items [Line Items]
Balance at beginning of period			6,844
Balance at end of period		7,324	7,324		6,844
Land and buildings [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			15,194		14,435
Additions*	[1]		0		0
Impairments@			0	[2]	0	[3]
Reallocations between asset classes			1,492		759
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			0		0
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		16,686	16,686		15,194		14,435
Land and buildings [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			0		0
Foreign exchange movement			0		0
Balance at beginning of period			8,350		7,335
Depreciation for the year			1,012		1,015
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		9,362	9,362		8,350		7,335
Right-of-use assets [member]
Statement Line Items [Line Items]
Balance at beginning of period			295
Balance at end of period		156	156		295
Right-of-use assets [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			525		543
Additions*	[1]		0		0
Impairments@			0	[2]	0	[3]
Reallocations between asset classes			0		0
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			(24)		(18)
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		501	501		525		543
Right-of-use assets [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			0		0
Foreign exchange movement			(9)		(4)
Balance at beginning of period			230		97
Depreciation for the year			124		137
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		345	345		230		97
Mining assets [member]
Statement Line Items [Line Items]
Balance at beginning of period			69,786
Balance at end of period		100,592	100,592		69,786
Depreciation for the year		856
Mining assets [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			82,154		73,914
Additions*	[1]		0		0
Impairments@			(872)	[2]	(8,518)	[3]
Reallocations between asset classes			37,116		15,886
Acquisition of Bilboes oxide assets (Tribute) (note 5)					872
Foreign exchange movement			0		0
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		118,398	118,398		82,154		73,914
Mining assets [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			(21)		(532)
Foreign exchange movement			0		0
Balance at beginning of period			12,368		8,910
Depreciation for the year			5,459		3,990
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		17,806	17,806		12,368		8,910
Assets under construction and decommissioning assets [member]
Statement Line Items [Line Items]
Balance at beginning of period	[4]		45,760
Balance at end of period	[4]	34,842	34,842		45,760
Assets under construction and decommissioning assets [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			46,453		35,476
Additions*	[1]		28,276		31,711
Impairments@			0	[2]	0	[3]
Reallocations between asset classes			(39,099)		(20,734)
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			(2)		0
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		35,628	35,628		46,453		35,476
Assets under construction and decommissioning assets [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@	[4]		0		0
Foreign exchange movement	[4]		0		0
Balance at beginning of period	[4]		693		600
Depreciation for the year	[4]		93		93
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period	[4]	786	786		693		600
Plant and equipment [member]
Statement Line Items [Line Items]
Balance at beginning of period			41,228
Balance at end of period		35,625	35,625		41,228
Depreciation for the year		1,302
Plant and equipment [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			70,485		64,319
Additions*	[1]		538		3,049
Impairments@			(36)	[2]	(998)	[3]
Reallocations between asset classes			491		4,089
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			0		26
Disposals			(33)
Reallocate to assets held for sale			0
Balance at end of period		71,445	71,445		70,485		64,319
Plant and equipment [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			(10)		(775)
Foreign exchange movement			0		0
Balance at beginning of period			29,257		25,505
Depreciation for the year			6,573		4,527
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		35,820	35,820		29,257		25,505
Fixtures and fittings [member]
Statement Line Items [Line Items]
Balance at beginning of period			463
Balance at end of period		606	606		463
Fixtures and fittings [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			1,563		1,342
Additions*	[1]		335		243
Impairments@			0	[2]	0	[3]
Reallocations between asset classes			0		0
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			(37)		(22)
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		1,861	1,861		1,563		1,342
Fixtures and fittings [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			0		0
Foreign exchange movement			(30)		(21)
Balance at beginning of period			1,100		958
Depreciation for the year			185		163
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		1,255	1,255		1,100		958
Motor vehicles [member]
Statement Line Items [Line Items]
Balance at beginning of period			469
Balance at end of period		504	504		469
Motor vehicles [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period			3,314		3,169
Additions*	[1]		294		147
Impairments@			0	[2]	0	[3]
Reallocations between asset classes			0		0
Acquisition of Bilboes oxide assets (Tribute) (note 5)					0
Foreign exchange movement			(3)		(2)
Disposals			0
Reallocate to assets held for sale			0
Balance at end of period		3,605	3,605		3,314		3,169
Motor vehicles [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			0		0
Foreign exchange movement			(2)		(2)
Balance at beginning of period			2,845		2,631
Depreciation for the year			258		216
Accumulated depreciation for assets reallocated to assets held for sale			0
Balance at end of period		3,101	3,101		2,845		2,631
Solar plant [member]
Statement Line Items [Line Items]
Balance at beginning of period			14,138
Balance at end of period		0	0		14,138
Solar plant [member] | Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at beginning of period	[5]		14,138		1,940
Additions*	[1],[5]		163		12,198
Impairments@	[5]		0	[2]	0	[3]
Reallocations between asset classes	[5]		0		0
Acquisition of Bilboes oxide assets (Tribute) (note 5)	[5]				0
Foreign exchange movement	[5]		0		0
Disposals	[5]		0
Reallocate to assets held for sale	[5]		(14,301)
Balance at end of period	[5]	0	0		14,138		1,940
Solar plant [member] | Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Impairments@			0		0
Foreign exchange movement			0		0
Balance at beginning of period			0		0
Depreciation for the year			782		0
Accumulated depreciation for assets reallocated to assets held for sale			(782)
Balance at end of period		$ 0	$ 0		$ 0		$ 0
[1]Included in additions is the change in estimate for the decommissioning asset of $1,962 (2022: ($468))[2]On June 27, 2023 the decision was taken to place the Bilboes oxide mine on care and maintenance as the cost related to removing the waste and accessing the orebody could exceed the benefit from the gold revenues to be received. The impairment loss that was recognised amounted to a carrying value of $851 on impairing the Bilboes oxide asset classified under mine development, infrastructure and other. Mining and metallurgical processing continued at the Bilboes oxide mine until the end of September 2023 when the contract miner's notice period came to an end. Leaching of material that has already been deposited on the leach pad will continue while the revenue from these activities contributes to the cost of the asset. Oxide mining and processing will resume when the stripping of the waste for the sulphide project commences and can be economically justified.[3]Included in the 2022 impairments are development asset costs of $8,518 that predominantly relates to prospective areas above 750 meters at Blanket which are not included in the LoMP. Also included in the 2022 impairments are generator cost of $791 and loader bottom decks at a cost of $101; these assets were no longer in working condition. The carrying amount for these impaired assets were impaired to $Nil.[4]Accumulated depreciation and depreciation under Assets under construction and decommissioning assets include depreciation on decommissioning assets.[5]The solar plant was fully commissioned on February 2, 2023 and the sale agreement between Caledonia Mining Corporation Plc and Caledonia Mining Services (Private) Limited was concluded for the sale of the solar plant. Depreciation on the solar plant commenced on February 2, 2023 and the power purchase agreement, between Caledonia Mining Services (Private) Limited and Blanket Mine, became effective. From September 28, 2023 the solar plant is classified as held for sale. In December 2022, the Caledonia board approved a proposal for Caledonia Mining Services (Private) Limited (which owns the solar plant) to issue loan notes pursuant to a loan note instrument (“bonds”) up to a value of $12 million. The decision was taken in order to optimise the capital structure of the Group and provide additional debt instruments to the Zimbabwean financial market. Refer to note 30.2 for more information on these loan notes.

Note 18 - Property, Plant and_4

Note 18 - Property, Plant and Equipment - Schedule of Depreciation Expense (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
Statement Line Items [Line Items]
Mine, development, infrastructure and other	$ 2,158
Mining assets [member]
Statement Line Items [Line Items]
Mine, development, infrastructure and other	856
Plant and equipment [member]
Statement Line Items [Line Items]
Mine, development, infrastructure and other	$ 1,302

Note 18 - Property, Plant ad Eq

Note 18 - Property, Plant ad Equipment - Non-cash Items Excluded From Acquisition of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Net property, plant and equipment included in prepayments	$ 338	$ (1,375)	$ (4,272)
Net property, plant and equipment included in trade and other payables	1,606	2,879	$ 2,039
Non-cash items excluded from property, plant and equipment [member]
Statement Line Items [Line Items]
Net property, plant and equipment included in prepayments	329	(4,445)
Net property, plant and equipment included in trade and other payables	583	(1,876)
Bilboes oxide project payable (note 29)	0	(872)
Change in estimate for decommissioning asset - adjustment capitalised in property, plant and equipment (note 18)	(1,962)	468
Non-cash items excluded from property, plant and equipment	$ (1,050)	$ (6,725)

Note 19 - Leases (Details Textu

Note 19 - Leases (Details Textual)	12 Months Ended
	Dec. 31, 2023
Bottom of range [member]
Statement Line Items [Line Items]
Leases, term (Year)	3 years
Top of range [member]
Statement Line Items [Line Items]
Leases, term (Year)	6 years

Note 19 - Leases - Right of Use

Note 19 - Leases - Right of Use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Balance	$ 295	$ 446
Depreciation	(124)	(137)	$ (115)
Foreign currency movement	(15)	(14)
Balance	$ 156	$ 295	$ 446

Note 19 - Leases - Lease Liabil

Note 19 - Leases - Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Balance	$ 313	$ 465
Additions to lease liability	67	0
Finance cost - Leases (note 19)	22	31	$ 24
Lease payments	(184)	(150)
Foreign currency movement	(10)	(33)
Balance	$ 208	$ 313	$ 465

Note 19 - Leases - Financial St

Note 19 - Leases - Financial Statement Amounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Finance cost on lease liabilities (note 15)	$ 22	$ 31	$ 24
Unrealised foreign exchange gain	(5)	19	1
Depreciation (note 18)	124	137	115
Lease expense	141	187	140
Total cash outflow for leases - principal	162	119	105
Total cash outflow for leases - finance cost	(22)	(31)	(24)
Total cash outflow for leases - payments	$ 184	$ 150	$ 129

Note 19 - Leases - Minimum Leas

Note 19 - Leases - Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Minimum lease payments	$ 217	$ 342
Finance cost	(9)	(29)
Present value of lease liabilities	208	313	$ 465
Not later than one year [member]
Statement Line Items [Line Items]
Minimum lease payments	175	152
Later than one year and not later than two years [member]
Statement Line Items [Line Items]
Minimum lease payments	42	150
Later than two years and not later than three years [member]
Statement Line Items [Line Items]
Minimum lease payments	$ 0	$ 40

Note 20 - Inventories (Details

Note 20 - Inventories (Details Textual) $ in Thousands	Dec. 31, 2023 USD ($) oz	Dec. 31, 2022 USD ($) oz
Statement Line Items [Line Items]
Provision for obsolete stock | $	$ 1,793	$ 1,510
Gold, work in progress (Ounce) | oz	3,057	1,123

Note 20 - Inventories - Compone

Note 20 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Consumable stores*	[1]	$ 18,001	$ 17,645
Gold in progress @	[2]	2,303	689
Inventories		$ 20,304	$ 18,334
[1]Included in consumables stores is an amount of ($1,793) (2022: ($1,510)) for provision for obsolete stock for items that are not compatible with plant and equipment currently in use.[2]Gold work in progress balance as at December 31, 2023 consists of 3,057 ounces (2022: 1,123 ounces).

Note 21 - Trade and Other Rec_3

Note 21 - Trade and Other Receivables (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Statement Line Items [Line Items]
VAT receivables offset against liabilities	$ 3.9

Note 21 - Trade and Other Rec_4

Note 21 - Trade and Other Receivables - Components of Trade and Other Receivables (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Bullion sales receivable		$ 5,403	$ 7,383
VAT receivables		4,259	1,001
Solar - VAT and duty receivables*	[1]	0	720
Deposits for stores, equipment and other receivables		290	81
Total trade and other current receivables		$ 9,952	$ 9,185
[1]On December 7, 2021 a duty rebate on the importation of capital goods was granted to the Company in terms of the Customs and Excise General Regulations of 2001. However, the customs officials at Forbes Border Post rejected a rebate on solar cables despite presentation of a valid rebate letter. An appeal was made to the Commissioner of Taxes seeking the rebate and the outcome of the appeal was unfavourable.

Note 22 - Prepayments - Schedul

Note 22 - Prepayments - Schedule of Prepayments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Solar prepayments	$ 0	$ 104
Other prepayments	265	162
Current prepayments and other current assets	2,538	3,693
South African operations [member]
Statement Line Items [Line Items]
Suppliers	527	254
Zimbabwean operations [member] | Blanket Mine [member]
Statement Line Items [Line Items]
Suppliers	1,746	1,494
Zimbabwean operations [member] | Bilboes [member]
Statement Line Items [Line Items]
Suppliers	0	802
Bilboes pre-effective date costs	$ 0	$ 877

Note 23 - Cash and Cash Equiv_3

Note 23 - Cash and Cash Equivalents (Details Textual) $ in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 ZWL ($)
Statement Line Items [Line Items]
Restricted cash and cash equivalents	[1]	$ 2,456	$ 1,998
Interest expense on bank loans and overdrafts		$ 1,657	$ 192
Letter of credit 1 [member] | Blanket Mine [member]
Statement Line Items [Line Items]
Restricted cash and cash equivalents				$ 2,456
[1]Cash of $2,456 (denominated in RTGS$) held by Blanket Mine was earmarked by Stanbic Bank Zimbabwe as a letter of credit in favour of CMSA. The letter of credit was issued by Stanbic Bank Zimbabwe on November 28, 2023 and settled in January, 2024. The cash on maturity was transferred to CMSA’s bank account, denominated in South African Rands.

Note 23 - Cash and Cash Equiv_4

Note 23 - Cash and Cash Equivalents - Components of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Bank balances		$ 4,252	$ 4,737
Restricted cash *	[1]	2,456	1,998
Cash and cash equivalents		6,708	6,735
Bank overdrafts and short term loans used for cash management purposes @	[2]	(17,740)	(5,239)
Net cash and cash equivalents		$ (11,032)	$ 1,496	$ 16,265	$ 19,092
[1]Cash of $2,456 (denominated in RTGS$) held by Blanket Mine was earmarked by Stanbic Bank Zimbabwe as a letter of credit in favour of CMSA. The letter of credit was issued by Stanbic Bank Zimbabwe on November 28, 2023 and settled in January, 2024. The cash on maturity was transferred to CMSA’s bank account, denominated in South African Rands.[2]Interest paid on bank overdraft was $1,657 (2022: $192).

Note 23 - Cash and Cash Equiv_5

Note 23 - Cash and Cash Equivalents - Exposure to Risk (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Overdraft facility of Stanbic Bank, RTG [member]
Statement Line Items [Line Items]
Denomination	$ 350,000
Balance drawn	0
Overdraft facility of Stanbic Bank, USD [member]
Statement Line Items [Line Items]
Denomination	4,000
Balance drawn	3,800
Overdraft facility of Ecobank [member]
Statement Line Items [Line Items]
Denomination	5,000
Balance drawn	5,000
Nedbank Zimbabwe [member]
Statement Line Items [Line Items]
Denomination	3,500
Balance drawn	3,400
Nedbank Zimbabwe term loan [member]
Statement Line Items [Line Items]
Denomination	3,500
Balance drawn	3,500
Overdraft facility for CABS Bank of Zimbabwe [member]
Statement Line Items [Line Items]
Denomination	2,000
Balance drawn	$ 2,000

Note 24 - Assets and Liabilit_3

Note 24 - Assets and Liabilities Associated With Assets Held for Sale (Details Textual) - USD ($) $ in Thousands	Sep. 28, 2023	Dec. 31, 2023
Statement Line Items [Line Items]
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		$ 13,519
Blanket Mine [member]
Statement Line Items [Line Items]
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners	$ 13,519	$ 13,519
Blanket Mine [member] | Non-current assets or disposal groups classified as held for sale [member]
Statement Line Items [Line Items]
Impairment loss	$ 0

Note 24 - Assets and Liabilit_4

Note 24 - Assets and Liabilities Associated With Assets Held for Sale - Non-current Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 28, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners	$ 13,519
Site restoration liability	128		$ 0
Blanket Mine [member]
Statement Line Items [Line Items]
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners	13,519	$ 13,519
Site restoration liability	$ 128

Note 25 - Share Capital (Detail

Note 25 - Share Capital (Details Textual) - USD ($) $ / shares in Thousands, $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Proceeds from issuing shares			$ 15,569	$ 0	$ 7,806
M Learmonth [member]
Statement Line Items [Line Items]
Increase (decrease) in number of ordinary shares issued (in shares)		3,587
V Gapare [member]
Statement Line Items [Line Items]
Increase (decrease) in number of ordinary shares issued (in shares)		11,000
Issued capital [member]
Statement Line Items [Line Items]
Proceeds from issuing shares			$ 15,569
Increase (decrease) in number of ordinary shares issued (in shares)	[1]		1,207,514
Ordinary shares [member]
Statement Line Items [Line Items]
Par value per share (in dollars per share)			$ 0
Preference shares [member]
Statement Line Items [Line Items]
Par value per share (in dollars per share)			$ 0
Depository receipts on AIM [member] | Issued capital [member]
Statement Line Items [Line Items]
Proceeds from issuing shares			$ 10,770
Share issue related cost			846
Depository receipts on VFEX [member] | Issued capital [member]
Statement Line Items [Line Items]
Proceeds from issuing shares			5,850
Share issue related cost			$ 205
[1]Gross proceeds of $10,770 with a transaction cost of $846 were raised by issuing depository interests on the AIM of the London Stock Exchange Gross proceeds of $5,850 with a transaction cost of $205 were raised by issuing depository receipts on the VFEX. During quarter one of 2023, Mark Learmonth, Chief Executive Officer, and Toziyana Resources Limited, a company affiliated with Victor Gapare, executive Director of the Company, subscribed for 3,587 and 11,000 depositary interests respectively in the equity raise.

Note 25 - Share Capital - Issue

Note 25 - Share Capital - Issued Ordinary Shares (Details) - USD ($) $ in Thousands			12 Months Ended
		Jan. 06, 2023	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Issued amount			$ 193,459	$ 180,556
Issued amount - share-based payment - employees (note 12.1(a))			640	484
Issued amount - Bilboes Gold Limited acquisition (note 5)			65,677
Issued amount			$ 264,192	$ 193,459
Assets of Bilboes Gold Limited [member]
Statement Line Items [Line Items]
Issued amount - equity raise		$ 56,739
Issued capital [member]
Statement Line Items [Line Items]
Number of fully paid shares issued (in shares)			12,833,126	12,756,606
Issued amount			$ 83,471	$ 82,667
Issued amount - share-based payment - employees (note 12.1(a))			$ 0	$ 0
Shares issued- equity raise (in shares)	[1]		1,207,514
Issued amount - equity raise	[1]		$ 15,569
Issued amount - Bilboes Gold Limited acquisition (note 5)			$ 65,677
Number of fully paid shares issued (in shares)			19,188,073	12,833,126
Issued amount			$ 165,068	$ 83,471
Issued capital [member] | Assets of Bilboes Gold Limited [member]
Statement Line Items [Line Items]
- Bilboes Gold Limited acquisition (note 5) (in shares)			5,123,044
Issued amount - Bilboes Gold Limited acquisition (note 5)			$ 65,677
Issued capital [member] | Payments to employees [member]
Statement Line Items [Line Items]
Shares issued - share-based payment - employees (note 12.1(a)) (in shares)			24,389	76,520
Issued amount - share-based payment - employees (note 12.1(a))			$ 351	$ 804
[1]Gross proceeds of $10,770 with a transaction cost of $846 were raised by issuing depository interests on the AIM of the London Stock Exchange Gross proceeds of $5,850 with a transaction cost of $205 were raised by issuing depository receipts on the VFEX. During quarter one of 2023, Mark Learmonth, Chief Executive Officer, and Toziyana Resources Limited, a company affiliated with Victor Gapare, executive Director of the Company, subscribed for 3,587 and 11,000 depositary interests respectively in the equity raise.

Note 26 - Reserves - Reserves i

Note 26 - Reserves - Reserves in Equity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Foreign currency translation reserve	$ (10,409)	$ (9,787)
Contributed surplus	132,591	132,591
Equity-settled share-based payment reserve	15,637	14,997
Total	$ 137,819	$ 137,801

Note 27 - Earnings Per Share (D

Note 27 - Earnings Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Antidilutive options excluded from computation of earnings per share, amount (in shares)	13,450	13,518	18,842
Options out of the money [member]
Statement Line Items [Line Items]
Antidilutive options excluded from computation of earnings per share, amount (in shares)	0	0	0

Note 27 - Earnings Per Share -

Note 27 - Earnings Per Share - Earnings Per Share Computations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Statement Line Items [Line Items]
Issued shares at the beginning of year (note 25) (in shares)	12,833,126	12,756,606	12,118,823
Weighted average shares issued (in shares)	5,792,435	74,214	51,462
Weighted average number of shares at December 31 (in shares)	18,625,561	12,830,820	12,170,285
Weighted average at December 31 (in shares)	18,625,561	12,830,820	12,170,285
Effect of dilutive options (in shares)	6,550	6,482	6,933
Weighted average number of shares (diluted) at December 31 (in shares)	18,632,111	12,837,302	12,177,218
Profit for the year attributable to owners of the Company (basic and diluted) | $	$ (4,198)	$ 17,903	$ 18,405
Blanket Mine Employee Trust Adjustment | $	(346)	(517)	(326)
Profit attributable to ordinary shareholders (basic and diluted) | $	$ (4,544)	$ 17,386	$ 18,079
Basic earnings per share - $	(0.24)	1.36	1.49
Diluted earnings per share - $	(0.24)	1.35	1.48

Note 28 - Non-controlling Int_3

Note 28 - Non-controlling Interests (Details Textual)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 20, 2020	Feb. 20, 2012
Statement Line Items [Line Items]
Percentage of net assets recognised as NCI	13.20%	13.20%	13.20%	13.20%	16.20%

Note 28 - Non-controlling Int_4

Note 28 - Non-controlling Interests - Schedule of Non-controlling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Current assets	$ 54,229	$ 38,427
Non-current assets	274,074	196,764
Current liabilities	(40,133)	(32,441)
Non-current liabilities	(23,978)	(9,291)
Carrying amount of NCI of 13.2% (2022: 13.2%, 2021: 13.2%)	24,477	22,409
Revenue	146,314	142,082	$ 121,329
Profit after tax	(618)	22,866	23,142
Total comprehensive income of Blanket Mine (100%)	(1,240)	22,404	22,611
Profit allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%)	3,580	4,963	4,737
Net cash inflow from operating activities	14,769	42,616	30,903
Net cash outflow from investing activities	(31,161)	(44,329)	(35,715)
Net cash outflow from financing activities	3,931	(12,754)	2,164
Blanket Mine (1983) (Private) Limited [member]
Statement Line Items [Line Items]
Current assets	33,126	30,397	33,634
Non-current assets	188,134	172,611	154,003
Current liabilities	(10,277)	(9,583)	(17,261)
Non-current liabilities	(10,901)	(8,062)	(11,535)
Net assets of Blanket Mine (100%)	200,082	185,363	158,841
Carrying amount of NCI of 13.2% (2022: 13.2%, 2021: 13.2%)	24,477	22,409	19,260
Revenue	146,314	142,082	121,329
Profit after tax	27,215	38,389	35,911
Total comprehensive income of Blanket Mine (100%)	27,215	38,389	35,911
Profit allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%)	3,580	4,963	4,737
Dividend allocated to NCI of 13.2% (2022: 13.2%, 2021: 13.2%)	(1,512)	(1,814)	(2,001)
Net cash inflow from operating activities	28,087	50,048	41,489
Net cash outflow from investing activities	(28,146)	(37,798)	(29,850)
Net cash outflow from financing activities	(5,017)	(16,506)	(12,817)
Net cash outflow	$ (5,076)	$ (4,256)	$ (1,178)

Note 29 - Provisions (Details T

Note 29 - Provisions (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Provision for decommissioning, restoration and rehabilitation costs for Blanket mine [member]
Statement Line Items [Line Items]
Major assumptions made concerning future events, other provisions, discount rate	4.14%	4.14%
Major assumptions made concerning future events, other Provisions, inflation rate	2.40%	2.40%
Other provisions, undiscounted cash flows	$ 5,629	$ 3,137
Provision for decommissioning, restoration and rehabilitation costs for Bilboes Holdings [member]
Statement Line Items [Line Items]
Other provisions, undiscounted cash flows	4,466	0
Provision for decommissioning, restoration and rehabilitation costs for Motapa [member]
Statement Line Items [Line Items]
Other provisions, undiscounted cash flows	1,466	0
Provision for decommissioning, restoration and rehabilitation costs for Maligreen [member]
Statement Line Items [Line Items]
Other provisions, undiscounted cash flows	$ 287	$ 135

Note 29 - Provisions - Reconcil

Note 29 - Provisions - Reconciliation of Site Restoration Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Provision for decommissioning, restoration and rehabilitation costs for Blanket mine [member]
Statement Line Items [Line Items]
Balance	$ 2,823	$ 3,159
Unwinding of discount (note 17)	109	132
Change in estimate	1,834	(468)
Balance	4,766	2,823
Balance	4,766	2,823
Provision for decommissioning, restoration and rehabilitation costs for Motapa [member]
Statement Line Items [Line Items]
Change in estimate	1,466	0
Provision for decommissioning, restoration and rehabilitation costs for Maligreen [member]
Statement Line Items [Line Items]
Change in estimate	152	0
Provision for decommissioning, restoration and rehabilitation costs for Motapa and Maligreen [member]
Statement Line Items [Line Items]
Change in estimate	1,618
Provision for decommissioning, restoration and rehabilitation costs for Motapa, Maligreen, and Bilboes [member]
Statement Line Items [Line Items]
Balance	135	135
Balance	6,219	135
Balance	6,219	135
Provision for decommissioning, restoration and rehabilitation costs for Bilboes Holdings [member]
Statement Line Items [Line Items]
Acquisition - (Bilboes) (note 5)	4,466	0
Provision for decommissioning, restoration and rehabilitation costs [member]
Statement Line Items [Line Items]
Balance	2,958
Balance	10,985	2,958
Balance	10,985	2,958
Current	0	0
Non-current	$ 10,985	$ 2,958

Note 30 - Loan Note Instrumen_3

Note 30 - Loan Note Instruments (Details Textual) - USD ($) $ in Thousands						12 Months Ended
	Apr. 30, 2024	Jul. 03, 2023	Jun. 30, 2023	Mar. 31, 2023	Feb. 02, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 01, 2022	Jun. 23, 2017
Statement Line Items [Line Items]
Notional amount						$ 12
Borrowings, interest rate										7.25%
Repayments of borrowings						0	$ 0	$ 361
Total borrowings						7,112	7,104
Motapa [member]
Statement Line Items [Line Items]
Notional amount									$ 7,250
Borrowings, interest rate									13%
Repayments of borrowings		$ 575	$ 2,250	$ 5,000		7,250	0
Total borrowings						0	7,104	$ 0
Borrowings, effective interest per annum									12.75%
Motapa [member] | At fair value [member]
Statement Line Items [Line Items]
Total borrowings						0	6,802		$ 6,802
Solar loan notes, February 2, 2023 [member]
Statement Line Items [Line Items]
Notional amount					$ 7,000
Borrowings, interest rate					9.50%
Total borrowings						$ 7,112	$ 0
Borrowings, term (Year)					3 years
Caledonia loan notes, April 2024 [member] | Issuance of borrowings [member]
Statement Line Items [Line Items]
Notional amount	$ 2,000
Borrowings, interest rate	9.50%
Borrowings, term (Year)	3 years

Note 30 - Loan Note Instrumen_4

Note 30 - Loan Note Instruments - Loans (Details) - USD ($) $ in Thousands				12 Months Ended
	Jul. 03, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 01, 2022
Statement Line Items [Line Items]
Interest paid				$ 1,168	$ 302
Loan note payable, carrying amount				7,112	7,104
Current				665	7,104
Non-current				6,447	0
Balance				7,104
Finance cost accrued				1,168	302
Repayment - principal				0	0	$ (361)
Balance				7,112	7,104
Amounts received				6,895	0	0
Motapa [member]
Statement Line Items [Line Items]
Interest paid				619	302
Loan note payable, carrying amount				0	7,104	0
Current				0	7,104
Non-current				0	0
Balance				7,104	0
Finance cost accrued				619	302
Repayment - principal	$ (575)	$ (2,250)	$ (5,000)	(7,250)	0
Repayment – finance cost paid				(473)	0
Balance				0	7,104	$ 0
Repayment - finance cost paid				473	0
Motapa [member] | At fair value [member]
Statement Line Items [Line Items]
Loan note payable, carrying amount				0	6,802		$ 6,802
Balance				6,802
Balance				0	6,802
Solar loan notes, February 2, 2023 [member]
Statement Line Items [Line Items]
Interest paid				549	0
Loan note payable, carrying amount				7,112	0
Current				665
Non-current				6,447
Balance				0
Finance cost accrued				549	0
Repayment – finance cost paid				332
Balance				7,112	$ 0
Amounts received				7,000
Transaction costs				(105)
Repayment - finance cost paid				$ (332)

Note 31 - Trade and Other Pay_3

Note 31 - Trade and Other Payables - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Trade payables	$ 6,166	$ 3,502
Electricity accrual	2,676	2,386
Audit fee	395	284
Dividends due	1,048	1,883
Solar plant supplier accrual	0	1,852
Bilboes oxide project payable	0	872
Other payables	692	651
Financial liabilities	10,977	11,430
Production and management bonus accrual - Blanket Mine	214	287
Other employee benefits - other	2,229	982
Other employee benefits - settlements	1,588	0
Leave pay	2,655	2,462
Bonus provision	190	1,025
Accruals	2,650	1,268
Non-financial liabilities	9,526	6,024
Total	$ 20,503	$ 17,454

Note 32 - Cash Flow Informati_3

Note 32 - Cash Flow Information - Non-cash Items and Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Operating profit	$ 15,177	$ 40,276	$ 38,360
Impairment of property, plant and equipment (note 18)	877	8,209	497
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, exploration and evaluation assets	0	467	3,837
Impairment of solar plant - VAT and duty receivables	720	0	0
Unrealised foreign exchange gains (note 13)	(4,217)	(12,736)	(2,754)
Cash-settled share-based expense (note 12.1)	463	609	477
Cash-settled share-based expense included in production costs (note 12.1)	660	853	692
Cash portion of cash-settled share-based expense	(1,695)	(1,468)	(420)
Expense from equity-settled share-based payment transactions	640	484	0
Depreciation (note 18)	14,486	10,141	8,046
Fair value loss on derivative instruments (note 14)	1,119	401	240
Profit on disposal of property, plant and equipment (note 18)	33	0	0
Derecognition of property, plant and equipment	0	0	(38)
Write down of inventory	283	563	0
Expected credit losses on deferred consideration on the disposal of subsidiary	0	0	761
Cash generated from operations before working capital changes	28,546	47,799	49,698
Inventories	(2,182)	1,915	(4,016)
Prepayments	338	(1,375)	(4,272)
Trade and other receivables	(1,910)	(1,561)	(4,746)
Trade and other payables	1,606	2,879	2,039
Cash generated from operations	$ 26,398	$ 49,657	$ 38,703

Note 33 - Financial Instrumen_3

Note 33 - Financial Instruments and Risk Management (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
AEG [member]
Statement Line Items [Line Items]
Trade receivables	$ 3,110	$ 0

Note 33 - Financial Instrumen_4

Note 33 - Financial Instruments and Risk Management - Credit Risk (Details) - Trade and other receivables [member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Carrying amount	$ 5,833	$ 9,060
Zimbabwean operations [member]
Statement Line Items [Line Items]
Carrying amount	4,215	9,059
Jersey, Channel Islands [member]
Statement Line Items [Line Items]
Carrying amount	0	0
Other [member]
Statement Line Items [Line Items]
Carrying amount	$ 1,618	$ 1

Note 33 - Financial Instrumen_5

Note 33 - Financial Instruments and Risk Management - Non-derivative Financial Liabilities Liquidity Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Loan note payable, carrying amount	$ 7,112	$ 7,104
Present value of lease liabilities	208	313	$ 465
Lease liabilities, carrying amount	208	313	$ 465
Liquidity risk [member]
Statement Line Items [Line Items]
Trade and other payables, carrying amount	10,977	11,430
Trade and other payables	10,977	11,430
Loan note payable, carrying amount	7,112	7,104
Loan note payable	8,663	7,723
Present value of lease liabilities	208	313
Lease liabilities	217	342
Overdraft and term loans, carrying amount	17,740	5,239
Overdraft and term loans	17,740	5,239
Carrying amount	36,037	24,086
Non-derivative financial liabilities, undiscounted cash flows	37,597	24,734
Trade and other payables, carrying amount	10,977	11,430
Trade and other payables	10,977	11,430
Lease liabilities, carrying amount	208	313
Lease liabilities	217	342
Liquidity risk [member] | Not later than one year [member]
Statement Line Items [Line Items]
Trade and other payables	10,977	11,430
Loan note payable	665	7,723
Lease liabilities	175	152
Overdraft and term loans	17,740	5,239
Non-derivative financial liabilities, undiscounted cash flows	29,557	24,544
Trade and other payables	10,977	11,430
Lease liabilities	$ 175	$ 152

Note 33 - Financial Instrumen_6

Note 33 - Financial Instruments and Risk Management - Effect of Gold Prices on Derivative Financial Instruments (Details) - Put option derivative [member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Increase by 5% of the gold price	$ 0	$ 0
Decrease by 5% of the gold price	4	22
Increase by 5% of the gold price	0	0
Decrease by 5% of the gold price	$ 4	$ 22

Note 33 - Financial Instrumen_7

Note 33 - Financial Instruments and Risk Management - Exposure to Risk (Details) R in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 ZAR (R)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 ZAR (R)
Currency risk [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	$ 7,718	R 62	$ 5,920	R 62
Effect of possible strengthening or weakening	320	3	252	3
Assets and liabilities exposed to interest rate fluctuations	7,718	62	5,920	62
Sensitivity analysis	320	3	252	3
Currency risk [member] | Cash and cash equivalents 1 [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	4,706	62	3,443	62
Effect of possible strengthening or weakening	177	3	134	3
Assets and liabilities exposed to interest rate fluctuations	4,706	62	3,443	62
Sensitivity analysis	177	3	134	3
Currency risk [member] | Cash and cash equivalents 1 [member] | USD [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	0	61	0	62
Assets and liabilities exposed to interest rate fluctuations	0	61	0	62
Currency risk [member] | Cash and cash equivalents 1 [member] | ZAR [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	989	0	631	0
Assets and liabilities exposed to interest rate fluctuations	989	0	631	0
Currency risk [member] | Cash and cash equivalents 1 [member] | RTGS [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	3,424	0	2,502	0
Assets and liabilities exposed to interest rate fluctuations	3,424	0	2,502	0
Currency risk [member] | Cash and cash equivalents 1 [member] | GBP [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	293	1	235	0
Assets and liabilities exposed to interest rate fluctuations	293	1	235	0
Currency risk [member] | Cash and cash equivalents 1 [member] | CAD [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	0	0	75	0
Assets and liabilities exposed to interest rate fluctuations	0	0	75	0
Currency risk [member] | Trade and other receivables [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	148	0	124	0
Sensitivity analysis	148	0	124	0
Currency risk [member] | Trade and other receivables [member] | RTGS [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	3,118	0	2,607	0
Assets and liabilities exposed to interest rate fluctuations	3,118	0	2,607	0
Currency risk [member] | Term loan and bank overdraft [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	0	0	0	0
Sensitivity analysis	0	0	0	0
Currency risk [member] | Term loan and bank overdraft [member] | RTGS [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	0	0	0	0
Assets and liabilities exposed to interest rate fluctuations	0	0	0	0
Currency risk [member] | Trade and other payables [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	(5)	0	(6)	0
Sensitivity analysis	(5)	0	(6)	0
Currency risk [member] | Trade and other payables [member] | RTGS [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	(106)	0	(130)	0
Assets and liabilities exposed to interest rate fluctuations	(106)	R 0	(130)	R 0
Interest rate risk [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	(11,032)		1,496
Assets and liabilities exposed to interest rate fluctuations	(11,032)		1,496
Interest rate risk [member] | Cash and cash equivalents 1 [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	6,708		6,735
Assets and liabilities exposed to interest rate fluctuations	6,708		6,735
Interest rate risk [member] | Term loan and bank overdraft [member]
Statement Line Items [Line Items]
Net monetary assets/(liabilities) exposed	(17,740)		(5,239)
Assets and liabilities exposed to interest rate fluctuations	(17,740)		(5,239)
Interest rate risk , increase by 100 basis points [member] | Cash and cash equivalents 1 [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	67		67
Sensitivity analysis	67		67
Interest rate risk , increase by 100 basis points [member] | Overdrafts [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	177		52
Sensitivity analysis	177		52
Interest rate risk, decrease by 100 basis points [member] | Cash and cash equivalents 1 [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	(67)		(67)
Sensitivity analysis	(67)		(67)
Interest rate risk, decrease by 100 basis points [member] | Overdrafts [member]
Statement Line Items [Line Items]
Effect of possible strengthening or weakening	(177)		(52)
Sensitivity analysis	$ (177)		$ (52)

Note 34 - Dividends - Dividends

Note 34 - Dividends - Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Thousands													12 Months Ended
	Sep. 28, 2023	Jun. 29, 2023	Apr. 03, 2023	Dec. 30, 2022	Oct. 13, 2022	Jul. 14, 2022	Apr. 18, 2022	Jan. 13, 2022	Oct. 14, 2021	Jul. 15, 2021	Apr. 15, 2021	Jan. 14, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Dividends declared to owners of the Company													$ 8,752	$ 8,975	$ 6,068
Dividends declared to NCI													1,512	1,814	2,001
Dividends recognised as distributions													10,264	10,789	8,069
Dividends declared and paid to owners of the Company													8,752	7,178	6,068
Dividends declared and paid to NCI													550	1,728	2,001
Dividends declared and due to owners of the Company													0	1,797	0
Dividends declared and due to NCI													1,048	86	0
Dividends declared, due, and paid, total													$ 10,350	$ 10,789	$ 8,069
Dividends, cents per share (in dollars per share)	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.13	$ 0.12	$ 0.11

Note 35 - Contingencies (Detail

Note 35 - Contingencies (Details Textual) $ in Thousands	Dec. 31, 2023 USD ($)
Legal proceedings contingent liability [member]
Statement Line Items [Line Items]
Estimated financial effect of contingent liabilities	$ 0

Note 36 - Related Parties (Deta

Note 36 - Related Parties (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Expense from cash-settled share-based payment transactions including costs included in production costs		$ 104,000	$ 354,000	$ 123,000
Key management personnel compensation, bonuses provided		647,000	1,378,000	1,011,000
Key management personnel compensation, termination benefits		1,588,000	54,000	0
Cash outflow for leases		184,000	150,000
SR Curtis [member]
Statement Line Items [Line Items]
Related party consulting, monthly fee	$ 44,100
Related party, consulting fee		150,000	265,000	0
SR Curtis [member] | Entering into significant commitments or contingent liabilities [member]
Statement Line Items [Line Items]
Related party consulting, monthly fee		12,500
V Gapare [member]
Statement Line Items [Line Items]
Cash outflow for leases		30,000
Contingent liability arising from termination [member]
Statement Line Items [Line Items]
Estimated financial effect of contingent liabilities	$ 8,575,000	$ 7,809,000	$ 8,575,000	$ 8,214,000
Bottom of range [member]
Statement Line Items [Line Items]
Estimated financial effect of contingent liabilities, determinate number of years for severance pay (Year)		6 months
Top of range [member]
Statement Line Items [Line Items]
Estimated financial effect of contingent liabilities, determinate number of years for severance pay (Year)		2 years

Note 36 - Related Parties - Key

Note 36 - Related Parties - Key Management Personnel and Entities (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Key management salaries		$ 3,102	$ 2,076	$ 2,234
Share-based awards* @	[1],[2]	720	999	540
All other compensation &	[3]	2,599	1,697	1,011
Key management personnel compensation		$ 6,421	$ 4,772	$ 3,785
[1]Amount inclusive of $104 (2022: $354, 2021: $123) classified as production costs.[2]Employees, officers, directors, consultants and other service providers also participate in the OEICP (see note 12.1).[3]The Company entered into a consultancy agreement with SR Curtis, a director of the Company, effective July 1, 2022 until December 31, 2023 at a monthly fee of $44.1 from July 1, 2022 until December 31, 2022 and $12.5 from January 1, 2023 until December 31, 2023. During the period ended December 31, 2023, the Company recorded $150 (2022: $265, 2021: $Nil) in consultancy fees. The Company has extended Mr. Curtis’ consultancy agreement until December 31, 2025 at a monthly fee of $12.5. Mr. Curtis is retiring as a director from the next annual general meeting (planned for May 7, 2024). Included is an amount of $647 (2022: $1,378, 2021: $1,011) that relates to bonuses provided or paid for in 2023. Included is an amount of $1,588 (2022: $54 (leave payout), 2021: $Nil) that relates to provision of a severance package payable in 2024

Note 37 - Group Entities (Detai

Note 37 - Group Entities (Details Textual)		12 Months Ended
	Feb. 20, 2012	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests	51%	36%
Blanket Mine (1983) (Private) Limited [member]
Statement Line Items [Line Items]
Proportion of ownership interests held by non-controlling interests		13.20%	13.20%	13.20%

Note 37 - Group Entities - Subs

Note 37 - Group Entities - Subsidiaries of the Company (Details) - USD ($) $ in Thousands			12 Months Ended
		Jan. 20, 2020	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Percentage of ownership		64%
Caledonia Holdings Zimbabwe (Private) Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)			$ (6,179)	$ (6,683)
Caledonia Mining Services Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)			$ 10,559
Fintona Investments Proprietary Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)			$ 14,860	$ 14,859
Caledonia Mining South Africa Proprietary Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)			$ (8,700)	$ (5,329)
Greenstone Management Services Holdings Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)			$ (48,149)	$ (36,597)
Blanket Mine (1983) (Private) Limited [member]
Statement Line Items [Line Items]
Percentage of ownership	[1]		64%	64%
Net assets of Blanket Mine (100%)	[1]		$ (217)	$ 561
Blanket Employee Trust Services (Private) Limited (BETS) [member]
Statement Line Items [Line Items]
Percentage of ownership	[2]
Net assets of Blanket Mine (100%)	[2]
Motapa Mining Company UK Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)
Arraskar Investments (Private) Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)
Bilboes Gold Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%
Net assets of Blanket Mine (100%)
Bilboes Holdings (Private) Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%
Net assets of Blanket Mine (100%)			$ 805
Caledonia Mining FZCO [member]
Statement Line Items [Line Items]
Percentage of ownership			100%
Net assets of Blanket Mine (100%)			$ 61
Caledonia Connemara Private Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)
Caledonia Maligreen Private Limited [member]
Statement Line Items [Line Items]
Percentage of ownership			100%	100%
Net assets of Blanket Mine (100%)
Caledonia Bilboes and Motapa Private [member]
Statement Line Items [Line Items]
Percentage of ownership			100%
Net assets of Blanket Mine (100%)
[1]Refer to note 6 for the effective shareholding. NCI has a 13.2% (2022: 13.2%, 2021: 13.2%) interest in cash flows of Blanket only.[2]BETS and the Community Trust are consolidated as structured entities.

Note 37 - Group Entities - Inte

Note 37 - Group Entities - Intercompany Tranasctions With Holding Company (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement Line Items [Line Items]
Loans advanced (repaid)	$ (2,576)	$ (18,907)
Interest received	(1,871)	576
Foreign exchange profits	675	370
Caledonia Holdings Zimbabwe (Private) Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	(4)	(424)
Interest received	508	536
Foreign exchange profits	0	0
Caledonia Mining Services Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	10,016	0
Interest received	543	0
Foreign exchange profits	0	0
Fintona Investments Proprietary Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Caledonia Mining South Africa Proprietary Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	(3,591)	(4,293)
Interest received	(455)	0
Foreign exchange profits	675	370
Greenstone Management Services Holdings Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	(9,103)	(13,681)
Interest received	(2,449)	0
Foreign exchange profits	0	0
Blanket Mine (1983) (Private) Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	(760)	(509)
Interest received	(18)	40
Foreign exchange profits	0	0
Blanket Employee Trust Services (Private) Limited (BETS) [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Motapa Mining Company UK Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Arraskar Investments (Private) Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Bilboes Gold Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Bilboes Holdings (Private) Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	805	0
Interest received	0	0
Foreign exchange profits	0	0
Caledonia Mining FZCO [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	61	0
Interest received	0	0
Foreign exchange profits	0	0
Caledonia Connemara Private Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Caledonia Maligreen Private Limited [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	0	0
Caledonia Bilboes and Motapa Private [member]
Statement Line Items [Line Items]
Loans advanced (repaid)	0	0
Interest received	0	0
Foreign exchange profits	$ 0	$ 0

Note 38 - Operating Segments (D

Note 38 - Operating Segments (Details Textual) $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) oz	Dec. 31, 2022 USD ($) oz	Dec. 31, 2021 USD ($) oz
Statement Line Items [Line Items]
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, exploration and evaluation assets		$ 0	$ 467	$ 3,837
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, trade and other receivables	[1]	0	720
Total revenue		$ 146,314	$ 142,082	$ 121,329
Mass of gold sold (Ounce) | oz		76,532	80,094	68,617
Fidelity Printers [member]
Statement Line Items [Line Items]
Total revenue		$ 66,177	$ 142,082	$ 121,329
AEG [member]
Statement Line Items [Line Items]
Receipts from sales of goods and rendering of services		$ 80,137	$ 0	$ 0
Mass of gold sold (Ounce) | oz		41,117	0	0
Blanket Mine [member]
Statement Line Items [Line Items]
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, exploration and evaluation assets		$ 26	$ 8,209
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, trade and other receivables		720
Bilboes [member]
Statement Line Items [Line Items]
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, exploration and evaluation assets		$ 851
Connemara North [member]
Statement Line Items [Line Items]
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, exploration and evaluation assets			$ 720
[1]On December 7, 2021 a duty rebate on the importation of capital goods was granted to the Company in terms of the Customs and Excise General Regulations of 2001. However, the customs officials at Forbes Border Post rejected a rebate on solar cables despite presentation of a valid rebate letter. An appeal was made to the Commissioner of Taxes seeking the rebate and the outcome of the appeal was unfavourable.

Note 38 - Operating Segments -

Note 38 - Operating Segments - Financial Statements (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	Sep. 28, 2023
Statement Line Items [Line Items]
Revenue		$ 146,314		$ 142,082		$ 121,329
Inter-segmental revenue		0
Royalty		(7,637)		(7,124)		(6,083)
Production costs		(82,709)		(62,998)		(53,126)
Depreciation		(14,486)		(10,141)		(8,046)
Other income		263		60		46
Other expenses*		(4,367)	[1]	(11,782)		(7,136)
Administrative expenses		(17,429)		(11,941)		(9,091)
Management fee		0
Cash-settled share-based expense		(463)		(609)		(477)
Equity-settled share-based expense		(640)		(484)		0
Net foreign exchange (loss) gain	[2]	(2,550)		4,411		1,184
Fair value loss on derivative liabilities		(1,119)		(1,198)		(240)
Finance income		39		17		14
Finance cost		(3,024)		(657)		(375)
Profit (loss) before tax		12,192		39,636		37,999
Tax expense		(12,810)		(16,770)		(14,857)
Profit for the year		(618)		22,866		23,142
Current (excluding intercompany, including assets held for sale)		54,229		38,427
Non-current (excluding intercompany)		274,074		196,764
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		13,519
Additions other than through business combinations, property, plant and equipment		29,606		48,220
Expenditure on evaluation and exploration assets (note 17)		76,693		9,398
Intercompany balances		0		0
Current (excluding intercompany)		(40,133)		(32,441)
Non-current (excluding intercompany)		(23,978)		(9,291)
Intercompany balances		0		0
Depreciation		14,486		10,141		8,046
Other expenses*		4,367	[1]	11,782		7,136
Administrative expenses		17,429		11,941		$ 9,091
Elimination of intersegment amounts [member]
Statement Line Items [Line Items]
Revenue		0		0
Inter-segmental revenue		(17,623)		0
Royalty		0		0
Production costs		16,097		0
Depreciation		1,079		42
Other income		(1,750)		0
Other expenses*		0	[1]	427	[3]
Administrative expenses		17		8,722
Management fee		(3)		0
Cash-settled share-based expense		660		(1,462)
Equity-settled share-based expense		0		(484)
Net foreign exchange (loss) gain		(71)		406
Fair value loss on derivative liabilities		0		(1,198)
Finance income		0		0
Finance cost		(2)		229
Profit (loss) before tax		(1,596)		(11,700)
Tax expense		(19)		(850)
Profit for the year		(1,615)		(12,550)
Current (excluding intercompany, including assets held for sale)		(1,757)		(83)
Non-current (excluding intercompany)		(5,294)		(5,446)
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Additions other than through business combinations, property, plant and equipment		(2,570)		(1,355)
Expenditure on evaluation and exploration assets (note 17)		0		0
Intercompany balances		(145,523)		(107,227)
Current (excluding intercompany)		0		0
Non-current (excluding intercompany)		4		116
Intercompany balances		145,523		107,227
Depreciation		(1,079)		(42)
Other expenses*		0	[1]	(427)	[3]
Administrative expenses		(17)		(8,722)
Material reconciling items [member]
Statement Line Items [Line Items]
Revenue		0		142,082
Inter-segmental revenue		0		0
Royalty		0		(7,124)
Production costs		0		(62,998)
Depreciation		(41)		(10,141)
Other income		1,766		60
Other expenses*		0	[1]	(11,782)	[3]
Administrative expenses		(10,124)		(11,941)
Management fee		0		0
Cash-settled share-based expense		(1,123)		(609)
Equity-settled share-based expense		(640)		(484)
Net foreign exchange (loss) gain		797		4,411
Fair value loss on derivative liabilities		(1,119)		(1,198)
Finance income		0		17
Finance cost		64		(657)
Profit (loss) before tax		(10,420)		39,636
Tax expense		(300)		(16,770)
Profit for the year		(10,720)		22,866
Current (excluding intercompany, including assets held for sale)		1,986		3,932
Non-current (excluding intercompany)		(2,419)		19,406
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Additions other than through business combinations, property, plant and equipment		(11,440)		10,821
Expenditure on evaluation and exploration assets (note 17)		0		4
Intercompany balances		84,441		61,557
Current (excluding intercompany)		(2,210)		(13,089)
Non-current (excluding intercompany)		(416)		(1,109)
Intercompany balances		(81,227)		(59,749)
Depreciation		41		10,141
Other expenses*		0	[1]	11,782	[3]
Administrative expenses		10,124		11,941
Blanket Mine [member]
Statement Line Items [Line Items]
Revenue		140,615		142,082
Inter-segmental revenue		0		0
Royalty		(7,318)		(7,124)
Production costs		(68,923)		(62,701)
Depreciation		(15,385)		(10,735)
Other income		236		48
Other expenses*		(4,353)	[1]	(11,289)	[3]
Administrative expenses		(912)		(172)
Management fee		(3,468)		(3,454)
Cash-settled share-based expense		0		0
Equity-settled share-based expense		0		0
Net foreign exchange (loss) gain		(3,229)		4,415
Fair value loss on derivative liabilities		0		0
Finance income		0		0
Finance cost		(3,323)		(861)
Profit (loss) before tax		33,940		50,209
Tax expense		(12,256)		(15,785)
Profit for the year		21,684		34,424
Current (excluding intercompany, including assets held for sale)		51,236
Non-current (excluding intercompany)		188,426
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		13,519					$ 13,519
Additions other than through business combinations, property, plant and equipment		43,496
Expenditure on evaluation and exploration assets (note 17)		0
Intercompany balances		44,452
Current (excluding intercompany)		(31,747)
Non-current (excluding intercompany)		(17,634)
Intercompany balances		(24,412)
Depreciation		15,385		10,735
Other expenses*		4,353	[1]	11,289	[3]
Administrative expenses		912		172
South African operations [member]
Statement Line Items [Line Items]
Revenue		0		0
Inter-segmental revenue		17,623		19,885
Royalty		0		0
Production costs		(16,788)		(18,883)
Depreciation		(139)		(153)
Other income		10		12
Other expenses*		0	[1]	(66)	[3]
Administrative expenses		(4,301)		(3,047)
Management fee		3,471		3,454
Cash-settled share-based expense		0		0
Equity-settled share-based expense		0		0
Net foreign exchange (loss) gain		(144)		(119)
Fair value loss on derivative liabilities		0		0
Finance income		39		17
Finance cost		448		(25)
Profit (loss) before tax		219		1,075
Tax expense		(235)		(252)
Profit for the year		(16)		823
Current (excluding intercompany, including assets held for sale)		2,363		1,448
Non-current (excluding intercompany)		697		822
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Additions other than through business combinations, property, plant and equipment		120		(881)
Expenditure on evaluation and exploration assets (note 17)		0		0
Intercompany balances		16,844		12,202
Current (excluding intercompany)		(4,421)		(1,901)
Non-current (excluding intercompany)		0		(101)
Intercompany balances		(34,193)		(34,753)
Depreciation		139		153
Other expenses*		0	[1]	66	[3]
Administrative expenses		4,301		3,047
Bilboes [member]
Statement Line Items [Line Items]
Revenue		5,699
Inter-segmental revenue		0
Royalty		(319)
Production costs		(13,095)
Depreciation		0
Other income		1
Other expenses*	[1]	(14)
Administrative expenses		(2,101)
Management fee		0
Cash-settled share-based expense		0
Equity-settled share-based expense		0
Net foreign exchange (loss) gain		97
Fair value loss on derivative liabilities		0
Finance income		0
Finance cost		(189)
Profit (loss) before tax		(9,921)
Tax expense		0
Profit for the year		(9,921)
Current (excluding intercompany, including assets held for sale)		0
Non-current (excluding intercompany)		0
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Additions other than through business combinations, property, plant and equipment		0
Expenditure on evaluation and exploration assets (note 17)		0
Intercompany balances		(214)
Current (excluding intercompany)		0
Non-current (excluding intercompany)		0
Intercompany balances		0
Depreciation		0
Other expenses*	[1]	14
Administrative expenses		2,101
Evaluation and exploration assets [member]
Statement Line Items [Line Items]
Revenue		0		0
Inter-segmental revenue		0		(19,885)
Royalty		0		0
Production costs		0		18,586
Depreciation		0		789
Other income		0		0
Other expenses*		0	[1]	0	[3]
Administrative expenses		(8)		0
Management fee		0		0
Cash-settled share-based expense		0		853
Equity-settled share-based expense		0		0
Net foreign exchange (loss) gain		0		(291)
Fair value loss on derivative liabilities		0		0
Finance income		0		0
Finance cost		(22)		0
Profit (loss) before tax		(30)		52
Tax expense		0		117
Profit for the year		(30)		169
Current (excluding intercompany, including assets held for sale)		401		0
Non-current (excluding intercompany)		92,664		5,626
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0
Additions other than through business combinations, property, plant and equipment		0		872
Expenditure on evaluation and exploration assets (note 17)		76,693		1,430
Intercompany balances		0		0
Current (excluding intercompany)		(1,755)		0
Non-current (excluding intercompany)		(5,932)		0
Intercompany balances		(5,691)		0
Depreciation		0		(789)
Other expenses*		0	[1]	0	[3]
Administrative expenses		$ 8		0
Zimbabwean operations [member]
Statement Line Items [Line Items]
Current (excluding intercompany, including assets held for sale)				33,130
Non-current (excluding intercompany)				176,356
Additions other than through business combinations, property, plant and equipment				38,763
Expenditure on evaluation and exploration assets (note 17)				7,964
Intercompany balances				33,468
Current (excluding intercompany)				(17,451)
Non-current (excluding intercompany)				(8,197)
Intercompany balances				$ (12,725)
[1]Other expenses include impairment of plant and equipment of $26 for Blanket and $851 for the Bilboes oxide mine, as well as impairment of the solar VAT and duty receivable amounting to $720 for Blanket.[2]After December 31, 2023 the RTGS$:USD conversion rate devalued from RTGS$ 6,105:USD 1 to RTGS$ 20,945:USD 1 on March, 25 2024. The devaluation in the exchange rate will devalue RTGS$-denominated monetary assets in quarter 1, of 2024.[3]Other expenses include impairment of plant and equipment of $8,209 for Blanket, as well as impairment of the Connemara North of $720.

Note 39 - Defined Contributio_2

Note 39 - Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Zimbabwean operations [member]
Statement Line Items [Line Items]
Post-employment benefit expense, defined contribution plans	$ 1,290	$ 1,022	$ 898