| Trade and other receivables, net |
17. Trade and other receivables, net | | | June 30,
2026 | | | December 31,
2025 | | | | | (Unaudited) | | | (Audited) | | | Royalty receivables(1) | | $ | 2,136 | | | $ | 2,136 | | | Trade receivables(1) | | | 2,663 | | | | 3,125 | | | Staff loans | | | 260 | | | | - | | | Other receivables | | | - | | | | 344 | | | VAT receivables(2) | | | 2,681 | | | | 2,183 | | | Allowance for credit losses(3) | | | (2,275 | ) | | | (2,275 | ) | | Trade and other receivables, net | | $ | 5,465 | | | $ | 5,513 | | | (1) | The Group’s trade receivables balance primarily relates to gold sales with Fidelity. The Group’s royalty receivables balance relates to a subcontracting arrangement through which the Group earned a royalty on precious metals extracted by a third-party miner from the Redwing Mine and is fully provisioned for credit loss. | | (2) | VAT receivables are presented net of amounts offset against other tax liabilities, as approved by the Zimbabwe tax authorities. During 2025, the Group offset VAT receivables of approximately US$2.0 million against other tax liabilities. During the six months ended June 30, 2026, the Group offset a further US$0.6 million. | | (3) | Included in the expected credit loss provision are amounts of US$2.1m relating to royalties receivable and US$0.1m relating to rentals. | Allowance for credit losses | | | (Unaudited) | | | Balance at January 1, 2025 | | $ | 2,253 | | | Additions | | | 12 | | | Balance at June 30, 2025 | | $ | 2,265 | | | | | | | | | Balance at January 1, 2026 | | $ | 2,275 | | | Additions | | | - | | | Balance at June 30, 2026 | | $ | 2,275 | |
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