Caledonia announces that, further to its announcements of December 1, 2025 and December 19, 2025, the Republic of Zimbabwe's Finance Act, 2025 has been passed which enacts the 2026 National Budget. The enacted provisions confirm the position outlined in the announcement of December 19, 2025. Specifically: The higher royalty rate of 10% will only apply if the gold price exceeds US$5,000 per ounce. The other proposed
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