Caledonia Mining Corp Plc

, for detail on development activities at Blanket and the Bilboes Project and exploration and evaluation assets. Availability of sufficient funding for the Bilboes Project cannot be guaranteed Our ability to successfully execute the development of the Bilboes Project depends on securing significant external funding and meeting our interest and capital repayment obligations on time. There can be no assurance that the full amount of financing required will be available to us on acceptable terms, nor that we will be able to discharge our obligations to lenders. If we are unable to obtain sufficient funding or discharge our obligations, we may be forced to delay, scale back, or discontinue certain aspects of the Bilboes Project. We will also be required to provide security to lenders in various forms including but not limited to guarantees, share security, assignment of accounts and hedging agreements which could be called upon if we fail to meet our obligations and thus could lead to loss of material assets within the group. This could materially and adversely affect our business strategy, growth prospects, and financial condition. In addition, reliance on external financing exposes us to risks related to market conditions, investor sentiment, and potential dilution of existing shareholders. Any shortfall in funding or inability to meet our obligations could impair our ability to achieve the anticipated benefits of the Bilboes Project.