Silvercorp Metals (SVM) 40-F 23 Jun 20 2020 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Mar. 31, 2020shares
Document And Entity Information
Entity Registrant Name	SILVERCORP METALS INC
Entity Central Index Key	0001340677
Document Type	40-F
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Is Entity's Reporting Status Current?	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	173,816,834

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Current Assets
Cash and cash equivalents	$ 65,777	$ 67,441
Short-term investments	76,742	47,836
Trade and other receivables	1,178	467
Current portion of lease receivable	186
Inventories	8,430	10,836
Due from related parties	1,519	3,022
Income tax receivable	1,093	1,301
Prepaids and deposits	3,254	3,958
Current Assets, Total	158,179	134,861
Non-current Assets
Long-term prepaids and deposits	390	769
Long-term portion lease receivable	348
Reclamation deposits	9,230	7,953
Investment in an associate	44,555	38,703
Other investments	8,750	9,253
Plant and equipment	66,722	68,617
Mineral rights and properties	224,586	238,920
TOTAL ASSETS	512,760	499,076
Current Liabilities
Accounts payable and accrued liabilities	23,129	29,856
Current portion of lease obligation	567
Bank loan		4,475
Deposits received	3,195	3,040
Income tax payable	937	502
Current Liabilities, Total	27,828	37,873
Non-current Liabilities
Long-term portion of lease obligation	1,502
Deferred income tax liabilities	35,758	34,334
Environmental rehabilitation	8,700	13,688
Total Liabilities	73,788	85,895
Equity
Share capital	243,926	231,269
Equity reserves	(21,142)	(557)
Retained earnings	145,898	116,734
Total equity attributable to the equity holders of the Company	368,682	347,446
Non-controlling interests	70,290	65,735
Total Equity	438,972	413,181
TOTAL LIABILITIES AND EQUITY	$ 512,760	$ 499,076

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Profit or loss [abstract]
Sales	$ 158,829	$ 170,519
Production costs	62,029	62,461
Depreciation and amortization	20,715	19,997
Mineral resource taxes	4,540	4,864
Government fees and other taxes	2,115	2,699
General and administrative	10,056	9,566
Cost of sales	99,455	99,587
Income from mine operations	59,374	70,932
Corporate general and administrative	10,094	9,475
Property evaluation and business development	679	386
Foreign exchange gain	(4,103)	(1,361)
Loss on disposal of plant and equipment	461	401
Gain on disposal of mineral rights and properties	(1,477)
Share of loss in associate	1,276	330
Dilution gain on investment in associate	(723)
Reclassification of other comprehensive income upon ownership dilution of investment in associate	(21)
Impairment reversal of investment in associate		(1,899)
Impairment reversal of mineral rights and properties		(7,279)
Other expense	1,026	806
Income before finance items and income taxes	52,162	70,073
Finance income	4,023	3,476
Finance costs	(2,073)	(631)
Income before income taxes	54,112	72,918
Income tax expense	8,909	20,871
Net income	45,203	52,047
Attributable to:
Equity holders of the Company	34,274	39,724
Non-controlling interests	10,929	12,323
Net income	$ 45,203	$ 52,047
Earnings per share attributable to the equity holders of the Company
Basic earnings per share	$ 0.20	$ 0.24
Diluted earnings per share	$ 0.20	$ 0.23
Weighted Average Number of Shares Outstanding - Basic	171,713,263	168,483,412
Weighted Average Number of Shares Outstanding - Diluted	174,079,387	170,386,993

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated Statements Of Comprehensive Income
Net income	$ 45,203	$ 52,047
Items that may subsequently be reclassified to net income or loss:
Currency translation adjustment, net of tax of $nil	(24,312)	(21,831)
Share of other comprehensive income in associate	1,077	398
Reclassification to net income upon ownership dilution of investment in associate	(21)
Items that will not subsequently be reclassified to net income or loss:
Change in fair value on equity investments designated as FVTOCI, net of tax of $nil	249	2,380
Other comprehensive loss, net of taxes	(23,007)	(19,053)
Attributable to:
Equity holders of the Company	(19,892)	(15,989)
Non-controlling interests	(3,115)	(3,064)
Other comprehensive loss, net of taxes	(23,007)	(19,053)
Total comprehensive income	22,196	32,994
Attributable to:
Equity holders of the Company	14,382	23,735
Non-controlling interests	7,814	9,259
Total comprehensive income	$ 22,196	$ 32,994

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash provided by Operating activities
Net income	$ 45,203	$ 52,047
Add (deduct) items not affecting cash:
Finance costs	2,073	631
Depreciation, amortization and depletion	22,673	21,250
Share of loss in associate	1,276	330
Dilution gain on investment in associate	(723)
Reclassification of other comprehensive loss upon ownership dilution of investment in associate	(21)
Impairment reversal of investment in associate		(1,899)
Impairment reversal of mineral rights and properties		(7,279)
Income tax expense	8,909	20,871
Finance income	(4,023)	(3,476)
Loss on disposal of plant and equipment	461	401
Gain on disposal of mineral rights and properties	(1,477)
Share-based compensation	2,669	1,896
Reclamation expenditures	(385)	(187)
Income taxes paid	(5,012)	(18,225)
Interest received	4,023	3,476
Interest paid	(162)	(144)
Changes in non-cash operating working capital	1,762	659
Net cash provided by operating activities	77,246	70,351
Mineral rights and properties
Capital expenditures	(27,904)	(28,049)
Proceeds on disposals	6,146
Plant and equipment
Additions	(7,400)	(6,258)
Proceeds on disposals	10	31
Reclamation deposits
Paid	(1,727)	(2,601)
Other investments
Acquisition	(7,851)	(1,018)
Proceeds on disposals	8,454
Investment in associate	(7,030)	(107)
Net (purchases) redemptions of short-term investments	(33,606)	5,969
Principal received on lease receivable	118
Net cash used in investing activities	(70,790)	(32,033)
Related parties
Payments made	(1,436)	(2,989)
Repayments received	2,922
Bank loan
Proceeds		4,527
Repayment	(4,369)
Principal payments on lease obligation	(503)
Non-controlling interests
Distribution	(3,259)	(13,259)
Acquisition		(1,121)
Cash dividends distributed	(4,287)	(4,208)
Proceeds from issuance of common shares	8,001	1,852
Net cash used in financing activities	(2,931)	(15,198)
Effect of exchange rate changes on cash and cash equivalents	(5,189)	(4,878)
Increase (decrease) in cash and cash equivalents	(1,664)	18,242
Cash and cash equivalents, beginning of the year	67,441	49,199
Cash and cash equivalents, end of the year	$ 65,777	$ 67,441

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity $ in Thousands	Share capital [Member]USD ($)shares	Share option reserve [Member]USD ($)	Reserves [Member]USD ($)	Accumulated other comprehensive loss [Member]USD ($)	Retained earnings [Member]USD ($)	Total equity attributable to the equity holders of the Company [Member]USD ($)	Non-controlling interests [Member]USD ($)	USD ($)shares
Balance at Mar. 31, 2018	$ 228,729	$ 14,690	$ 25,409	$ (25,875)	$ 86,283	$ 329,236	$ 68,943	$ 398,179
Balance, Shares at Mar. 31, 2018 | shares	167,029,556
Options exercised	$ 2,540	(688)				1,852		$ 1,852
Options exercised, Shares | shares	2,812,496							2,812,496
Share-based compensation		1,896				1,896		$ 1,896
Dividends declared					(4,208)	(4,208)		(4,208)
Distribution to non-controlling interests							(13,259)	(13,259)
Disposition of non-controlling interests upon wound-up of a subsidiary							(1,002)	(1,002)
Acquisition of non-controlling interest					(5,065)	(5,065)	1,794	(3,271)
Comprehensive (loss) income				(15,989)	39,724	23,735	9,259	32,994
Balance at Mar. 31, 2019	$ 231,269	15,898	25,409	(41,864)	116,734	347,446	65,735	413,181
Balance, Shares at Mar. 31, 2019 | shares	169,842,052
Adjustment upon adoption of IFRS 16				167	(823)	(656)		(656)
Options exercised	$ 11,003	(3,002)				8,001		$ 8,001
Options exercised, Shares | shares	3,833,406							3,833,406
Restricted share units vested	$ 527	(527)
Restricted share units vested, shares | shares	141,376
Share-based compensation		2,669				2,669		$ 2,669
Dividends declared					(4,287)	(4,287)		(4,287)
Distribution to non-controlling interests							(3,259)	(3,259)
Disposal of common shares held by associate	1,127					1,127		1,127
Comprehensive (loss) income				(19,892)	34,274	14,382	7,814	22,196
Balance at Mar. 31, 2020	$ 243,926	$ 15,038	$ 25,409	$ (61,589)	$ 145,898	$ 368,682	$ 70,290	$ 438,972
Balance, Shares at Mar. 31, 2020 | shares	173,816,834

CORPORATE INFORMATION

CORPORATE INFORMATION	12 Months Ended
	Mar. 31, 2020
Disclosure of corporate information [Abstract]
CORPORATE INFORMATION	1. CORPORATE INFORMATION Silvercorp Metals Inc., along with its subsidiary companies (collectively the “Company”), is engaged in the acquisition, exploration, development, and mining of mineral properties. The Company s producing mines and other current exploration and development projects are located in China. The Company is a publicly listed company incorporated in the Province of British Columbia, Canada, with limited liability under the legislation of the Province of British Columbia. The Company s shares are traded on the Toronto Stock Exchange and NYSE American. The head office, registered address and records office of the Company are located at 1066 West Hastings Street, Suite 1750, Vancouver, British Columbia, Canada, V6E 3X1.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2020
Disclosure of significant accounting policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES (a)Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The policies applied in these consolidated financial statements are based on IFRS in effect as of March 31, 2020. These consolidated financial statements were authorized for issue in accordance with a resolution of the Board of Directors dated on May 20, 2020. (b)Basis of Consolidation These consolidated financial statements include the accounts of the Company and its wholly or partially owned subsidiaries. Subsidiaries are consolidated from the date on which the Company obtains control up to the date of the disposition of control. Control is achieved when the Company has power over the subsidiary, is exposed or has rights to variable returns from its involvement with the subsidiary; and has the ability to use its power to affect its returns. For non-wholly-owned subsidiaries over which the Company has control, the net assets attributable to outside equity shareholders are presented as “non-controlling interests” in the equity section of the consolidated statements of financial position. Net income for the period that is attributable to the non-controlling interests is calculated based on the ownership of the non-controlling interest shareholders in the subsidiary. Adjustments to recognize the non-controlling interests share of changes to the subsidiary s equity are made even if this results in the non-controlling interests having a deficit balance. Changes in the Company s ownership interest in a subsidiary that do not result in a loss of control are recorded as equity transactions. The carrying amount of non-controlling interests is adjusted to reflect the change in the non-controlling interests relative interests in the subsidiary and the difference between the adjustment to the carrying amount of non-controlling interest and the Company s share of proceeds received and/or consideration paid is recognized directly in equity and attributed to equity holders of the Company. Balances, transactions, revenues and expenses between the Company and its subsidiaries are eliminated on consolidation. Details of the Company s significant subsidiaries which are consolidated are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of subsidiaries Principal activity incorporation 2020 2019 Mineral properties Silvercorp Metals China Inc. Holding company Canada 100% 100% Silvercorp Metals (China) Inc. Holding company China 100% 100% 0875786 B.C. LTD. Holding company Canada 100% 100% Fortune Mining Limited Holding company BVI (i) 100% 100% Fortune Copper Limited Holding company BVI 100% 100% Fortune Gold Mining Limited Holding company BVI 100% 100% Victor Resources Ltd. Holding company BVI 100% 100% Yangtze Mining Ltd. Holding company BVI 100% 100% Victor Mining Ltd. Holding company BVI 100% 100% Yangtze Mining (H.K.) Ltd. Holding company Hong Kong 100% 100% Fortune Gold Mining (H.K.) Limited Holding company Hong Kong 100% 100% Wonder Success Limited Holding company Hong Kong 100% 100% Henan Huawei Mining Co. Ltd. (“Henan Huawei”) Mining China 80% 80% Ying Mining District Henan Found Mining Co. Ltd. (“Henan Found”) Mining China 77.5% 77.5% Songxian Gold Mining Co., Ltd. (“SX Gold”) Mining China 0.0% 77.5% XHP Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (Guangdong Found”) Mining China 99% 99% GC (i) British Virgin Islands (“BVI”) (c) Investments in Associates An associate is an entity over which the Company has significant influence but not control and is not a subsidiary or joint venture. Significant influence is presumed to exist where the Company has between 20% and 50% of the voting rights, but can also arise when the Company has power to be actively involved and influential in financial and operating policy decisions of the entity even though Company has less than 20% of voting rights. The Company accounts for its investments in associates using the equity method. Under the equity method, the Company s investment in an associate is initially recognized at cost and subsequently increased or decreased to recognize the Company s share of profit and loss of the associate and for impairment losses after the initial recognition date. The Company s share of an associate s loss that are in excess of its investment are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. The Company s share of comprehensive income or losses attributable to shareholders of associates are recognized in comprehensive income during the period. The carrying amount of the Company s investments in associates also include any long-term debt interests which in substance form part of the Company s net investment. Distributions received from an associate are accounted for as a reduction in the carrying amount of the Company s investment. At the end of each reporting period, the Company assesses whether there is any objective evidence that an investment in an associate is impaired. Objective evidence includes observable data indicating there is a measurable decrease in the estimated future cash flows of the associate s operations. When there is objective evidence that an investment in an associate is impaired, the carrying amount is compared to its recoverable amount, being the higher of its fair value less cost to sell and value in use. An impairment loss is recognized if the recoverable amount is less than its carrying amount. When an impairment loss reverses in a subsequent period, the carrying amount of the investment is increased to the revised estimate of recoverable amount to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had an impairment loss not been previously recognized. Impairment losses and reversal of impairment losses, if any, are recognized in net income in the period in which the relevant circumstances are identified. Details of the Company s associate are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of associate Principal activity incorporation 2020 2019 New Pacific Metals Corp. ("NUAG") Mining Canada 28.8% 29.6% (d)Business Combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition date fair value and the amount of any non-controlling interest in the acquiree. For each business combination, the Company elects whether it measures the non-controlling interest in the acquiree either at fair value or at the proportionate share of the acquiree s identifiable net assets. Acquisition costs incurred are expensed and included in general and administrative expenses. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. If the business combination is achieved in stages, the acquisition date fair value of the acquirer s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss. (e) Foreign Currency Translation The functional currency for each subsidiary of the Company is the currency of the primary economic environment in which the entity operates. The functional currency of the head office, Canadian subsidiaries and all intermediate holding companies is the Canadian dollar (“CAD”). The functional currency of all Chinese subsidiaries is the Chinese Renminbi (“RMB”). Foreign currency monetary assets and liabilities are translated into the functional currency using exchange rates prevailing at the balance sheet date. Foreign currency non-monetary assets are translated using exchange rates prevailing at the transaction date. Foreign exchange gains and losses are included in the determination of net income. The consolidated financial statements are presented in U.S. dollars (“USD”). The financial position and results of the Company s entities are translated from functional currencies to USD as follows: assets and liabilities are translated using exchange rates prevailing at the balance sheet date; income and expenses are translated using average exchange rates prevailing during the period; and all resulting exchange gains and losses are included in other comprehensive income. The Company treats inter-company loan balances, which are not intended to be repaid in the foreseeable future, as part of its net investment. When a foreign entity is sold, the historical exchange differences plus the foreign exchange impact that arises on the transaction are recognized in the statement of income as part of the gain or loss on sale. (f) Revenue Recognition Revenue from contracts with customers is recognized when control of the asset sold is transferred to customers and the Company satisfies its performance obligation. Revenue is allocated to each performance obligation. The Company considers the terms of the contract in determining the transfer price. The transaction price is based upon the amount the Company expects to receive in exchange for the transferring of the assets. In determining whether the Company has satisfied a performance obligation, it considers the indicators of the transfer of control, which include, but are not limited to, whether: the Company has a present right to payment; the customer has legal title to the asset; the Company has transferred physical possession of the asset to the customer; and the customer has the significant risks and rewards of ownership of the asset. This generally occurs when the assets are loaded on the trucks arranged by the customer at the Company s milling facilities. In cases where the Company is responsible for the costs of shipping and certain other services after the date on which the control of the assets transferred to the customer, these other services are considered separate performance obligations and thus a portion of revenue earned under the contract is allocated and recognized as these performance obligations are satisfied. Revenue from concentrate sales is typically recorded based on the Company s assay results for the quantity and quality of concentrate sold and the applicable commodity prices, such as silver, gold, lead and zinc, set on a specific quotation period, typical ranging from ten to fifteen days around shipment date, by reference to active and freely traded commodity market. Adjustments, if any, related to the final assay results for the quantity and quality of concentrate sold are not significant and do not constrain the recognition of revenue. Smelter charges, including refining and treatment charges, are netted against revenue from metal concentrate sales. (g)Cash and Cash Equivalents Cash and cash equivalents include cash on hand and held at banks and short-term money market investments that are readily convertible to cash with original terms of three months or less and exclude any restricted cash that is not available for use by the Company. (h) Short-term Investments Short-term investments consist of certificates of deposit and money market instruments, including cashable guaranteed investment certificates, bearer deposit notes and other financial assets with original terms of over three months but less than one year. Bonds traded on open markets are also included in short-term investments. (i) Inventories Inventories include concentrate inventories, direct smelting ore, stockpile ore and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. Material that does not contain a minimum quantity of metal to cover estimated processing expenses to recover the contained metal is not classified as inventory and is assigned no value. Direct smelting ore and stockpiled ore are sampled for metal content and are valued at the lower of mining cost and net realizable value. Mining cost includes the cost of raw material, mining contractor cost, direct labour costs, depletion and depreciation, and applicable production overheads, based on normal operating capacity. Concentrate inventories are valued at the lower of cost and net realizable value. The cost of concentrate inventories includes the mining cost for stockpiled ore milled, freight charges for shipping stockpile ore from mine sites to mill sites and milling cost. Milling cost includes cost of materials and supplies, direct labour costs, and applicable production overheads cost, based on normal operating capacity. Material and supplies are valued at the lower of cost, determined on a weighted average cost basis, and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sales. (j) Plant and Equipment Plant and equipment are initially recorded at cost, including all directly attributable costs to bring the assets to the location and condition necessary for it to be capable of operating in the manner intended by management. Plant and equipment are subsequently measured at cost less accumulated depreciation and impairment losses. Depreciation is computed on a straight-line basis based on the nature and useful lives of the assets. The significant classes of plant and equipment and their estimated useful lives are as follows: Buildings 20 years Office equipment 5 years Machinery 5-10 years Motor vehicles 5 years Land use rights 50 years Leasehold improvements 5 years Subsequent costs that meet the asset recognition criteria are capitalized, while costs incurred that do not extend the economic useful life of an asset are considered repairs and maintenance, which are accounted for as an expense recognized during the period. Assets under construction are capitalized as construction-in-progress. The cost of construction-in-progress comprises of the asset s purchase price and any costs directly attributable to bringing it into working condition for its intended use. Construction-in-progress assets are transferred to other respective asset classes and are depreciated when they are completed and available for use. Upon disposal or abandonment, the carrying amounts of plant and equipment are derecognized and any associated gain or loss is recognized in net income. (k) Mineral Rights and Properties Mineral rights and properties include the following capitalized payments and expenditures: Acquisition costs which consist of payments for property rights and leases, including payments to acquire or renew an exploration or mining permit, and the estimated fair value of properties acquired as part of business combination or the acquisition of a group of assets. Exploration and evaluation costs incurred on a specific property after an acquisition of a beneficial interest or option in the property. Exploration and evaluation expenditures on properties for which the Company does not have title or rights to are expensed when incurred. Exploration and evaluation activities involve the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Development costs incurred to construct a mine and bring it into commercial production. Proceeds from sales generate during this development and pre-production stage, if any, are deducted from the costs of the asset. Expenditures incurred on producing properties that are expected to have future economic benefit, including to extend the life of the mine and to increase production by providing access to additional reserves, such as exploration tunneling that can increase or upgrade the mineral resources, and development tunneling, including to build shafts, drifts, ramps, and access corridors that enable to access ore underground. Borrowing costs incurred that are directly attributed to the acquisition, construction and development of a qualifying mineral property. Estimated of environmental rehabilitation and restoration costs. Before commencement of commercial production, mineral rights and properties are carried at costs, less any accumulated impairment charges. Upon commencement of commercial production, mineral rights and properties are carried at costs, less accumulated depletion and any accumulated impairment charges. Mineral rights and properties, other than the payments to renew mining permits (the “mine right fee”) are depleted over the mine s estimated life using the units of production method calculated based on proven and probable reserves. Estimation of proven and probable reserves for each property is updated when relative information is available; the result will be prospectively applied to calculate depletion amounts for future periods. If commercial production commences prior to the determination of proven and probable reserves, depletion is calculated based on the mineable portion of measured and indicated resources. The mine right fee is depleted using the units of production method based on the mineral resources which were used to determine the mine right fee payable. (l) Impairment and impairment reversals At each reporting period, the Company reviews and evaluates its assets for impairment, or reversal of a previously recognized impairment, when events or changes in circumstances indicate that the related carrying amounts may not be recoverable or when there is an indication that impairment may have reversed. When impairment indicators exist, an estimate of the recoverable amount is undertaken, being the higher of an asset s fair value less cost of disposal (“FVLCTD”) and value in use (“VIU”). If the carrying value exceeds the recoverable amount, an impairment loss is recognized in the consolidated statement of income during the period. 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 assessment of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. The cash flows are based on best estimates of expected future cash flows from the continued use of the asset and its eventual disposal. FVLCTD is best evidence if obtained from an active market or binding sale agreement. Where neither exists, the fair value is based the best estimates available to reflect the amount that could be received from an arm s length transaction. Fair value of asset is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects. Impairment is normally assessed at the level of cash-generating units (“CGU”), a CGU is identified as the smallest identifiable group of assets that generates cash inflows which are independent of the cash inflows generated from other assets. When there is an indication that an impairment loss recognized previously may no longer exist or has decreased, the recoverable amount is calculated. If the recoverable amount exceeds the carrying amount, the carrying value of the asset is increased to the recoverable amount. The increased carrying amount cannot exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. A reversal of an impairment loss is recognized as a gain in the consolidated statements of income in the period it is determined. (m) Environmental Rehabilitation Provision The mining, extraction and processing activities of the Company normally give rise to obligations for site closure or rehabilitation. Closure and decommissioning works can include facility decommissioning and dismantling; removal or treatment of waste materials; site and land rehabilitation. The extent of work required and the associated costs are dependent on the requirements of relevant authorities and the Company s environmental policies. Provisions for the cost of each closure and rehabilitation program are recognized at the time when environmental disturbance occurs. When the extent of disturbance increases over the life of an operation, the provision is increased accordingly. Costs included in the provision encompass all closure and decommissioning activity expected to occur progressively over the life of the operation and at the time of closure in connection with disturbances at the reporting date. Routine operating costs that may impact the ultimate closure and decommissioning activities, such as waste material handling conducted as an integral part of a mining or production process, are not included in the provision. Costs arising from unforeseen circumstances, such as the contamination caused by unplanned discharges, are recognized as an expense and liability when the event gives rise to an obligation which is probable and capable of reliable estimation. The timing of the actual closure and decommissioning expenditure is dependent upon a number of factors such as the life and nature of the asset, the operating license conditions, and the environment in which the mine operates. Expenditure may occur before and after closure and can continue for an extended period of time dependent on closure and decommissioning requirements. Closure and decommissioning provisions are measured at the expected amount of future cash flows, discounted to their present value for each operation. Discount rates used are specific to the underlying obligation. Significant judgments and estimates are involved in forming expectations of future activities and the amount and timing of the associated cash flows. Those expectations are formed based on existing environmental and regulatory requirements which give rise to a constructive or legal obligation. When provisions for closure and decommissioning are initially recognized, the corresponding cost is capitalized as an asset, representing part of the cost of acquiring the future economic benefits of the operation. The capitalized cost of closure and decommissioning activities is recognized in Mineral Rights and Properties and depleted accordingly. The value of the provision is progressively increased over time as the effect of discounting unwinds, creating an expense recognized in finance costs. Closure and decommissioning provisions are also adjusted for changes in estimates. Those adjustments are accounted for as a change in the corresponding capitalized cost, except where a reduction in the provision is greater than the undepreciated capitalized cost of the related assets, in which case the capitalized cost is reduced to nil and the remaining adjustment is recognized in the income statement. In the case of closed sites, changes to estimated costs are recognized immediately in the consolidated statements of income. Changes to the capitalized cost result in an adjustment to future depreciation and finance charges. Adjustments to the estimated amount and timing of future closure and decommissioning cash flows are a normal occurrence in light of the significant judgments and estimates involved. The provision is reviewed at the end of each reporting period for changes to obligations, legislation or discount rates that impact estimated costs or lives of operations and adjusted to reflect current best estimate. The cost of the related asset is adjusted for changes in the provision resulting from changes in the estimated cash flows or discount rate and the adjusted cost of the asset is depreciated prospectively. (n)Leases IFRS 16 - Leases Leases Determining whether an arrangement contains a lease The Company applied IFRS 16 on April 1, 2019 retrospectively, with the cumulative effect of initially applying the standard as an adjustment to retained earnings and no restatement of comparative information. The Company has elected to apply the available exemptions as permitted by IFRS 16 to recognize a lease expense on a straight line basis for short term leases (lease term of 12 months or less) and low value assets. The Company has also elected to apply the practical expedient whereby leases whose term ends within 12 months of the date of initial application would be accounted for in the same way as short-term lease. Policies applicable from April 1, 2019 Lease Definition At inception of a contract, the Company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. An identified asset may be implicitly or explicitly specified in a contract, but must be physically distinct, and must not have the ability for substitution by a lessor. A lessee has the right to control an identified asset if it obtains substantially all of its economic benefits and either predetermines or directs how and for what purposes the asset is used. Measurement of Right of Use (“ROU”) Assets and Lease Obligations At the commencement of a lease, the Company, if acting in capacity as a lessee, recognizes an ROU asset and a lease obligation. The ROU asset is initially measured at cost, which comprises the initial amount of the lease obligation adjusted for any lease payments made at, or before, the commencement date, plus any initial direct costs incurred, less any lease incentives received. The ROU asset is subsequently amortized on a straight-line basis over the shorter of the term of the lease, or the useful life of the asset determined on the same basis as the Company s plant and equipment. The ROU asset is periodically adjusted for certain remeasurements of the lease obligation, and reduced by impairment losses, if any. If an ROU asset is subsequently leased to a third party (a “sublease”) and the sublease is classified as a finance lease, the carrying value of the ROU asset to the extent of the sublease is derecognized. Any difference between the ROU asset and the lease receivable arising from the sublease is recognized in profit or loss. The lease obligation is initially measured at the present value of the lease payments remaining at the lease commencement date, discounted using the interest rate implicit in the lease or the Company s incremental borrowing rate if the rate implicit in the lease cannot be determined. Lease payments included in the measurement of the lease obligation, when applicable, may comprise of fixed payments, variable payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the exercise price under a purchase, extension or termination option that the Company is reasonably certain to exercise. The lease obligation is subsequently measured at amortized 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 Company s estimate of the amount expected to be payable under a residual value guarantee, or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease obligation is remeasured, a corresponding adjustment is made to the carrying amount of the ROU asset. Measurement of Lease Receivable At the commencement of a lease, the Company, if acting in capacity as a lessor, will classify the lease as finance lease and recognize a lease receivable at an amount equal to the net investment in the lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset or if the lease is a sublease, by reference to the ROU asset arising from the original lease (the “head lease”). A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset or the lease is a short-term lease. Cash received from an operating lease is included in other income in the Company s consolidated statement of income on a straight-line basis over the period the lease. The lease receivable is initially measure at the present value of the lease payments remaining at the lease commencement date, discounted at the interest rate implicit in the lease or the Company s incremental borrowing rate if the lease is a sublease. The lease receivable is subsequently measured at amortized cost using the effective interest rate method, and reduced by the amount received and impairment losses, if any. Recognition Exemptions The Company has elected not to recognize the ROU asset and lease obligations for short-term leases that have a lease term of 12 months or less or for leases of low-value assets. Payments associated with these leases are recognized as general and administrative expense on a straight-line basis over the lease term on the consolidated statement of income. Adjustments upon Adoption Upon adoption of IFRS 16 on April 1, 2019, the Company recognized lease receivable, ROU asset, and lease obligation of $447, $360, and $1,463, respectively, related to the Company s office lease agreement and sublease agreements. The Company also recognized cumulative adjustments to retained earnings and accumulated other comprehensive income of $(823) and $167, respectively. (o)Borrowing Costs Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, which necessarily takes a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset. All other borrowing costs are expensed in the period in which they are incurred. No borrowing costs were capitalized in the periods presented. (p) Share-based Payments The Company makes share-based awards, including restricted share units (“RSUs”), performance share units (“PSUs”), and stock options, to employees, officers, directors, and consultants. For equity-settled awards, the fair value is charged to the consolidated statements of income and credited to equity, on a straight-line basis over the vesting period, after adjusting for the estimated number of awards that are expected to vest. The fair value of share units is determined based on quoted market price of our common shares at the date of grant. The fair value of the stock options granted to employees, officers, and directors is determined at the date of grant using the Black-Scholes option pricing model with market related input. The fair value of stock options granted to consultants is measured at the fair value of the services delivered unless that fair value cannot be estimated reliably, which then is determined using the Black-Scholes option pricing model. Stock options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. For cash-settled awards, the fair value is estimated based on the quoted market price of our common shares and are remeasured at each reporting period until the awards are vested. The fair value of these awards recognized as share-based compensation expenses in the consolidated statements of income over the vesting period, with a corresponding increase to accrued liabilities. At each statement of financial position date prior to vesting, the cumulative expense representing the extent to which the vesting period has expired and management s best estimate of the awards that are ultimately expected to vest is computed (after adjusting for non-market performance conditions). The movement in cumulative expense is recognized in the consolidated statements of income with a corresponding entry within equity. No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vested irrespective of whether or not the market condition is satisfied, provided that all other performance conditions are satisfied. (q)Income Taxes Current tax for each taxable entity is based on the local taxable income at the local statutory tax rate enacted or substantively enacted at the balance sheet date and includes adjustments to tax payable or recoverable in respect to previous periods. Current tax assets and current tax liabilities are only offset if a legally enforceable right exists to set off the amounts, and the Company intends to settle on a net

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	12 Months Ended
	Mar. 31, 2020
Disclosure of short-term investments [Abstract]
SHORT-TERM INVESTMENTS	3. SHORT-TERM INVESTMENTS As at March 31, 2020, short-term investments consist of the following: Carrying value Interest rates Maturity Bonds $ 23,313 6.00% - 13% April 2, 2020 - June 27, 2024 Money market instruments 53,429 $ 76,742 As at March 31, 2019, short-term investments consist of the following: Carrying value Interest rates Maturity Bonds $ 24,986 3.88% - 13% April 28, 2019 - April 29, 2026 Money market instruments 22,850 $ 47,836 All bonds were purchased on open markets and are readily tradable.

INVENTORIES

INVENTORIES	12 Months Ended
	Mar. 31, 2020
Classes of current inventories [abstract]
INVENTORIES	4. INVENTORIES Inventories consist of the following: March 31, 2020 March 31, 2019 Direct smelting ore and stockpile ore $ 1,138 $ 1,794 Concentrate inventory 4,368 5,201 Total stockpile and concentrate 5,506 6,995 Material and supplies 2,924 3,841 $ 8,430 $ 10,836 The amount of inventories recognized as expense during the year ended March 31, 2020 was $82,744 (year ended March 31, 2019 - $82,458).

INVESTMENT IN AN ASSOCIATE

INVESTMENT IN AN ASSOCIATE	12 Months Ended
	Mar. 31, 2020
Disclosure of associates [abstract]
INVESTMENT IN AN ASSOCIATE	5. INVESTMENT IN AN ASSOCIATE New Pacific Metals Corp. (“NUAG”) is a Canadian public company listed on the TSX Venture Exchange (symbol: NUAG). NUAG is a related party of the Company by way of two common directors and one officer, and the Company accounts for its investment in NUAG using the equity method as it is able to exercise significant influence over the financial and operating policies of NUAG. On May 22, 2019, the Company exercised its warrants to acquire 1,500,000 common shares of NUAG for a total cost of $2,349. Pan American Silver Corp. also exercised its warrants to acquire 8,000,000 common shares of NUAG on the same day. As a result of the exercise of these warrants, the Company s ownership in NUAG was diluted from 29.8% to 28.9% and a dilution gain of $723 was recorded along with the reclassification gain of $21 from other comprehensive income to net income. On October 25, 2019, the Company participated in an offering of common shares of NUAG underwritten by BMO Capital Markets and acquired an additional 1,247,606 common shares of NUAG for a cost of $3,820. During the year ended March 31, 2020, the Company also acquired additional 502,600 common shares of NUAG from the public market (year ended March 31, 2019 - 65,400) for a total cost of $861 (year ended March 31, 2019 - $107). As at March 31, 2020, the Company owned 42,596,506 common shares of NUAG (March 31, 2019 -39,346,300), representing an ownership interest of 28.8% (March 31, 2019 - 29.6%). The summary of the investment in NUAG common shares and its market value as at the respective balance sheet dates are as follows: Value of NUAG's Number of common shares per shares Amount quoted market price Balance April 1, 2018 39,280,900 $ 38,001 $ 50,266 Purchase from open market 65,400 107 Share of net loss (330 ) Share of other comprehensive income 398 Impairment recovery 1,899 Foreign exchange impact (1,372 ) Balance March 31, 2019 39,346,300 $ 38,703 $ 69,783 Purchase from open market 502,600 861 Exercise of warrants 1,500,000 2,349 Participation in public offering 1,247,606 3,820 Share of net loss (1,276 ) Share of other comprehensive income 1,077 Dilution gain 723 Disposal of common shares held by the associate 1,127 Foreign exchange impact (2,829 ) Balance March 31, 2020 42,596,506 $ 44,555 $ 148,624 Summarized financial information for the Company&8217;s investment in NUAG on a 100% basis is as follows: Years ended March 31, 2020 (1) 2019 (1) Income from investments $ 494 $ 576 General and administrative expense (3,824 ) (2,286 ) Foreign exchange gain 669 542 Impairment charge (586 ) - Other income - 7 Net loss of associate $ (3,247 ) $ (1,161 ) Adjustments to net loss of associate (1,170 ) 23 Net loss of associate qualified for pick-up $ (4,417 ) $ (1,138 ) Company&8217;s share of net loss $ (1,276 ) $ (330 ) March 31, 2020 (1) March 31, 2019 (1) Current assets $ 29,012 $ 17,233 Non-current assets 74,989 62,568 Total assets $ 104,001 $ 79,801 Current liabilities 1,409 675 Long-term liabilities - 197 Total liabilities 1,409 872 Net assets $ 102,592 $ 78,929 Company&8217;s share of net assets of associate $ 29,575 $ 23,371 (1)

OTHER INVESTMENTS

OTHER INVESTMENTS	12 Months Ended
	Mar. 31, 2020
Disclosure of other investments [Abstract]
OTHER INVESTMENTS	6. OTHER INVESTMENTS March 31, 2020 March 31, 2019 Equity investments designated as FVTOCI Public companies $ 6,633 $ 9,253 Private companies 2,117 - Total $ 8,750 $ 9,253 Investments in public companies represent equity interests of other publicly-trading mining companies that the Company has acquired through the open market or through private placements. These equity interests are for long-term investment purposes and consist of common shares and warrants. The continuity of such investments is as follows: Fair value Accumulated fair value change included in OCI April 1, 2018 $ 6,132 $ (37,508 ) Change in fair value on equity investments designated as FVTOCI 2,380 2,380 Acquisition of equity investments 1,018 - Impact of foreign currency translation (277 ) - March 31, 2019 $ 9,253 $ (35,128 ) Change in fair value on equity investments designated as FVTOCI 249 249 Acquisition of equity investments 7,851 - Proceeds on disposal (8,454 ) - Impact of foreign currency translation (149 ) - March 31, 2020 $ 8,750 $ (34,879 )

PLANT AND EQUIPMENT

PLANT AND EQUIPMENT	12 Months Ended
	Mar. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
PLANT AND EQUIPMENT	7. PLANT AND EQUIPMENT Plant and equipment consist of: Land use rights Office Motor Construction Cost and building equipment Machinery vehicles in progress Total Balance as at April 1, 2018 $ 105,165 $ 7,755 $ 29,413 $ 6,730 $ 3,602 $ 152,665 Additions 1,586 553 2,266 792 2,750 7,947 Disposals (316 ) (126 ) (505 ) (376 ) - (1,323 ) Reclassification of asset groups (1) 189 - 145 - (334 ) - Impact of foreign currency translation (6,596 ) (447 ) (1,867 ) (424 ) (228 ) (9,562 ) Balance as at March 31, 2019 $ 100,028 $ 7,735 $ 29,452 $ 6,722 $ 5,790 $ 149,727 Adjustment upon adoption of IFRS 16 360 - - - - 360 Additions 1,736 1,060 1,082 681 3,618 8,177 Disposals (6,932 ) (368 ) (3,265 ) (630 ) (52 ) (11,247 ) Reclassification of asset groups (1) 6,908 - 65 - (6,973 ) - Impact of foreign currency translation (5,646 ) (417 ) (1,534 ) (357 ) (247 ) (8,201 ) Ending balance as at March 31, 2020 $ 96,454 $ 8,010 $ 25,800 $ 6,416 $ 2,136 $ 138,816 Impairment, accumulated depreciation and amortization Balance as at April 1, 2018 $ (50,016 ) $ (5,312 ) $ (20,723 ) $ (5,345 ) $ (58 ) $ (81,454 ) Disposals 128 108 317 338 - 891 Depreciation and amortization (3,172 ) (500 ) (1,615 ) (347 ) - (5,634 ) Impact of foreign currency translation 3,131 295 1,320 337 4 5,087 Balance as at March 31, 2019 $ (49,929 ) $ (5,409 ) $ (20,701 ) $ (5,017 ) $ (54 ) $ (81,110 ) Disposals 6,821 278 3,051 574 52 10,776 Depreciation and amortization (3,481 ) (527 ) (1,601 ) (384 ) - (5,993 ) Impact of foreign currency translation 2,602 283 1,083 263 2 4,233 Ending balance as at March 31, 2020 $ (43,987 ) $ (5,375 ) $ (18,168 ) $ (4,564 ) $ - $ (72,094 ) Carrying amounts Balance as at March 31, 2019 $ 50,099 $ 2,326 $ 8,751 $ 1,705 $ 5,736 $ 68,617 Ending balance as at March 31, 2020 $ 52,467 $ 2,635 $ 7,632 $ 1,852 $ 2,136 $ 66,722 (1) Carrying amounts as at March 31, 2020 Ying Mining District BYP GC Other Total Land use rights and building $ 35,476 $ 3,094 $ 11,762 $ 2,135 $ 52,467 Office equipment 1,886 26 403 320 2,635 Machinery 5,734 258 1,640 - 7,632 Motor vehicles 1,598 22 232 - 1,852 Construction in progress 419 493 1,224 - 2,136 Total $ 45,113 $ 3,893 $ 15,261 $ 2,455 $ 66,722 Carrying amounts as at March 31, 2019 Ying Mining District BYP GC Other Total Land use rights and building $ 34,160 $ 2,158 $ 12,860 $ 921 $ 50,099 Office equipment 1,800 35 214 277 2,326 Machinery 6,294 257 2,071 129 8,751 Motor vehicles 1,521 27 140 17 1,705 Construction in progress 3,825 1,842 69 - 5,736 Total $ 47,600 $ 4,319 $ 15,354 $ 1,344 $ 68,617 During the year ended March 31, 2020, certain plant and equipment were disposed for proceeds of $10 (year ended March 31, 2019 - $31) and loss of $461 (year ended March 31, 2019 - loss of $401).

MINERAL RIGHTS AND PROPERTIES

MINERAL RIGHTS AND PROPERTIES	12 Months Ended
	Mar. 31, 2020
Disclosure of mineral rights and properties [Abstract]
MINERAL RIGHTS AND PROPERTIES	8. MINERAL RIGHTS AND PROPERTIES Mineral rights and properties consist of: Producing and development properties Exploration and evaluation properties Cost Ying Mining District BYP GC XHP RZY Total Balance as at April 1, 2018 $ 277,734 $ 65,054 $ 113,244 $ 22,024 $ 180 $ 478,236 Capitalized expenditures 23,238 189 1,014 261 - 24,702 Mine right fees 3,839 - - - - 3,839 Environmental rehabiliation 1,091 35 (12 ) 8 - 1,122 Foreign currecy translation impact (17,449 ) (973 ) (7,085 ) (1,384 ) (6 ) (26,897 ) Balance as at March 31, 2019 $ 288,453 $ 64,305 $ 107,161 $ 20,909 $ 174 $ 481,002 Capitalized expenditures 23,871 6 1,617 - - 25,494 Mine right fees 797 - - - - 797 Environmental rehabiliation (4,299 ) 39 239 - - (4,021 ) Disposition - - - (20,485 ) - (20,485 ) Foreign currecy translation impact (15,686 ) (778 ) (5,706 ) (424 ) (10 ) (22,604 ) Ending balance as at March 31, 2020 $ 293,136 $ 63,572 $ 103,311 $ - $ 164 $ 460,183 Impairment and accumulated depletion Balance as at April 1, 2018 $ (83,099 ) $ (57,584 ) $ (83,495 ) $ (21,798 ) $ (180 ) $ (246,156 ) Impairment reversal - - - 7,279 - 7,279 Depletion (13,312 ) - (2,209 ) - - (15,521 ) Foreign currecy translation impact 5,232 501 5,213 1,364 6 12,316 Balance as at March 31, 2019 $ (91,179 ) $ (57,083 ) $ (80,491 ) $ (13,155 ) $ (174 ) $ (242,082 ) Depletion (14,282 ) - (2,165 ) - - (16,447 ) Disposition - - - 12,888 - 12,888 Foreign currecy translation impact 5,071 395 4,301 267 10 10,044 Ending balance as at March 31, 2020 $ (100,390 ) $ (56,688 ) $ (78,355 ) $ - $ (164 ) $ (235,597 ) Carrying amounts Balance as at March 31, 2019 $ 197,274 $ 7,222 $ 26,670 $ 7,754 $ - $ 238,920 Ending balance as at March 31, 2020 $ 192,746 $ 6,884 $ 24,956 $ - $ - $ 224,586 In April 2019, the Company s subsidiary, Henan Found, entered into a purchase agreement (the “Agreement”) with an arm s length private Chinese company to dispose the XHP project. Pursuant to the Agreement, Henan Found sold its 100% equity interest in SX Gold, the holding company of the XHP project, for $7.3 million (RMB¥50 million), and forgave the amount of $1.1 million (RMB¥7.5 million) SX Gold owed to Henan Found. The transaction closed in July 2019 and the Company received partial payment of $6,146 (RMB¥42.5 million). The assets and liabilities disposed of are as follows: XHP Total consideration per share transfer agreement (RMB ¥50 million) $ 7,330 Less: amounts owed to Henan Found (1,112 ) Net consideration $ 6,218 Prepaids and deposits 124 Inventories 198 Plant and equipment 247 Mineral rights and properties 7,597 Accounts payable and accrued liabilities (2,211 ) Deposits received (925 ) Environmental rehabilitation (289 ) Total assets and liabilities disposed of $ 4,741 Gain on disposal of mineral rights and properties $ 1,477 A gain of $1,477 was recognized in gain on disposal of mineral rights and properties when the transaction completed. In November 2019, the Company paid a mine right fee of $796 (RMB¥5.5 million) to the Chinese government for the additional mineral resources of HPG mine (part of the Ying Mining District). In March 2019, the Company paid a mine right fee of $3,839 (RMB ¥25.7 million) to the Chinese government for the additional mineral resources of TLP and LM mine (part of the Ying Mining District).

BANK LOAN

BANK LOAN	12 Months Ended
	Mar. 31, 2020
Disclosure of bank loan [Abstract]
BANK LOAN	9. BANK LOAN Total Balance, April 1, 2018 $ - Addition 4,527 Interest accrued 152 Interest paid (144 ) Foreign exchange impact (60 ) Balance, March 31, 2019 $ 4,475 Interest accrued 45 Interest paid (50 ) Principal repayment (4,369 ) Foreign exchange impact (101 ) Balance, March 31, 2020 $ - On June 14, 2018, Henan Found borrowed a loan of $4,527 (RMB ¥30 million) bearing an interest rate of 4.35% from the Bank of China. The loan was fully repaid in June 2019. For the year ended March 31, 2020, interest of $45 (year ended March 31, 2019 - $152) was accrued and expensed through finance costs.

LEASES

LEASES	12 Months Ended
	Mar. 31, 2020
Presentation of leases for lessee [abstract]
LEASES	10. LEASES The following table summarizes changes in the Company s lease receivable and lease obligation related to the Company s office lease and associated sublease. Lease Receivable Lease Obligation Adjustment upon adoption of IFRS 16, April 1, 2019 $ 447 $ 1,463 Addition 238 1,239 Interest accrual 27 112 Interest received or paid (27 ) (112 ) Principal repayment (118 ) (503 ) Foreign exchange impact (33 ) (130 ) Balance, March 31, 2020 $ 534 $ 2,069 Less: current portion (186 ) (567 ) Non-current portion $ 348 $ 1,502 The following table presents a reconciliation of the Company s undiscounted cash flows to their present value for its lease receivable and lease obligation: Lease Receivable Lease Obligation Within 1 year $ 205 $ 613 Between 2 to 5 years 368 1,629 Over 5 years - 38 Total undiscounted amount $ 573 $ 2,280 Less future interest (39 ) (211 ) Total discounted amount $ 534 $ 2,069 Less: current portion (186 ) (567 ) Non-current portion $ 348 $ 1,502 The lease receivable and lease obligation were discounted using an estimated incremental borrowing rate of 5%.

ENVIRONMENTAL REHABILITATION

ENVIRONMENTAL REHABILITATION	12 Months Ended
	Mar. 31, 2020
Disclosure of environmental rehabilitation [Abstract]
ENVIRONMENTAL REHABILITATION	11. ENVIRONMENTAL REHABILITATION The following table presents the reconciliation of the beginning and ending obligations associated with the retirement of the properties: Total Balance, April 1, 2018 $ 13,098 Reclamation expenditures (187 ) Unwinding of discount of environmental rehabilitation 479 Revision of provision 1,122 Foreign exchange impact (824 ) Balance, March 31, 2019 $ 13,688 Reclamation expenditures (385 ) Unwinding of discount of environmental rehabilitation 422 Revision of provision (4,021 ) Derecognition upon disposal of SX Gold (289 ) Foreign exchange impact (715 ) Balance, March 31, 2020 $ 8,700 As at March 31, 2020, the total undiscounted amount of estimated cash flows required to settle the Company s environmental rehabilitation provision was $11,408 (March 31, 2019 - $19,413) over the next twenty-five years, which has been discounted using an average discount rate of 2.75% (March 31, 2019 -3.23%). During the year ended March 31, 2020, the Company incurred actual reclamation expenditures of $385 (year ended March 31, 2019 - $187) and paid reclamation deposit of $1,727 (year ended March 31, 2019 -$2,601).

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Mar. 31, 2020
Disclosure of classes of share capital [abstract]
SHARE CAPITAL	12. SHARE CAPITAL (a) Authorized Unlimited number of common shares without par value. All shares issued as at March 31, 2020 and 2019 were fully paid. (b) Share-based compensation The Company has a share-based compensation plan (the “Plan”) which consists of stock options, restricted share units (the “RSUs”) and performance share units (the “PSUs”). The Plan allows for the maximum number of common shares to be reserved for issuance on any share-based compensation to be a rolling 10% of the issued and outstanding common shares from time to time. Furthermore, no more than 3% of the reserve may be granted in the form of RSUs and PSUs. For the year ended March 31, 2020, a total of $2,669 (year ended March 31, 2019 - $1,896) in share-based compensation expense was recognized and included in the general and administrative and exploration and business development expenses on the consolidated statements of income. (i) Stock options The following is a summary of option transactions: Weighted average exercise price per Number of shares share CAD$ Balance, April 1, 2018 8,146,799 $ 2.15 Option granted 1,815,000 3.10 Options exercised (2,812,496 ) 0.87 Options forfeited (164,075 ) 3.34 Options expired (504,312 ) 3.27 Balance, March 31, 2019 6,480,916 $ 2.86 Options exercised (3,833,406 ) 2.78 Options forfeited (123,750 ) 3.29 Options expired (100,000 ) 1.75 Balance, March 31, 2020 2,423,760 $ 3.00 The following table summarizes information about stock options outstanding at March 31, 2020: Weighted average Weighted Number of options remaining Weighted average Number of options average Exercise price in outstanding at contractual life exercise price in exercisable at March exercise price CAD$ March 31, 2020 (Years) CAD$ 31, 2020 in CAD$ $ 1.43 201,260 0.17 $ 1.43 201,260 1.43 $ 2.60 565,000 1.63 $ 2.60 237,500 2.60 $ 3.23 561,250 0.95 $ 3.23 561,250 3.23 $ 3.36 402,500 0.51 $ 3.36 402,500 3.36 $ 3.40 693,750 1.40 $ 3.40 441,250 3.40 $ 1.43 - 3.40 2,423,760 1.10 $ 3.00 1,843,760 $ 3.02 Subsequent to March 31, 2020, a total of 61,250 options with exercise prices ranging from CAD$3.23 to CAD$3.40 were exercised. (ii) RSUs The following is a summary of RSUs transactions: Weighted average grant date closing Number of shares price per share $CAD Balance, April 1, 2019 - $ - Granted 850,500 4.94 Cancelled (31,750 ) 4.94 Distributed (141,376 ) 4.94 Balance, March 31, 2020 677,374 $ 4.94 During the year ended March 31, 2020, a total of 850,500 RSUs were granted to directors, officers, and employees of the Company at grant date closing price of CAD$4.94 per share subject to a vesting schedule over a two-year term with 25% of the RSUs vesting every six months from the date of grant. Subsequent to March 31, 2020, a total of 7,625 RSUs were distributed. (c) Cash dividends declared During the year ended March 31, 2020, dividends of $4,287 (year ended March 31, 2019 - $4,028) were declared and paid. (d) Normal course issuer bid On March 17, 2020, the Company announced a normal course issuer bid (“NCIB”) which allows it to acquire up to 8,670,104 of its own common shares until March 18, 2021. (e) Earnings per share (basic and diluted) For the years ended March 31, 2020 2019 Income Shares Per-Share Income Shares Per-Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income attributable to equity holders of the Company $ 34,274 $ 39,724 Basic earnings per share 34,274 171,713,263 $ 0.20 39,724 168,483,412 $ 0.24 Effect of dilutive securities: Stock options 2,366,124 1,903,581 Diluted earnings per share $ 34,274 174,079,387 $ 0.20 $ 39,724 170,386,993 $ 0.23 Anti-dilutive options that are not included in the diluted EPS calculation were nil for the year ended March 31, 2020 (year ended March 31, 2019 - 3,123,000).

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Mar. 31, 2020
Disclosure of analysis of other comprehensive income by item [abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	13. ACCUMULATED OTHER COMPREHENSIVE LOSS March 31, 2020 March 31, 2019 Change in fair value on equity investments designated as FVTOCI $ 34,879 $ 35,128 Share of other comprehensive income in associate (1,735 ) (679 ) Currency translation adjustment 28,445 7,415 Balance, end of the year $ 61,589 $ 41,864 The change in fair value on equity investments designated as FVTOCI, share of other comprehensive income in associate, and currency translation adjustment are net of tax of $nil for all periods presented.

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	12 Months Ended
	Mar. 31, 2020
Disclosure of non-controlling interests [Abstract]
NON-CONTROLLING INTERESTS	14. NON-CONTROLLING INTERESTS The continuity of non-controlling interests is summarized as follows: Henan Henan Guangdong Found Huawei Yunxiang Found Total Balance, April 1, 2018 $ 62,047 $ 5,909 $ 3,532 $ (2,545 ) $ 68,943 Share of net income (loss) 11,444 892 (365 ) 352 12,323 Share of other comprehensive (loss) income (3,664 ) (204 ) (150 ) 954 (3,064 ) Distributions (11,565 ) (1,694 ) - - (13,259 ) Acquisition of non-controlling interest - - - 1,794 1,794 Disposition - - - (1,002 ) (1,002 ) Balance, March 31, 2019 $ 58,262 $ 4,903 $ 3,017 $ (447 ) $ 65,735 Share of net income (loss) 10,440 664 (221 ) 46 10,929 Share of other comprehensive loss (2,768 ) (209 ) (73 ) (65 ) (3,115 ) Distributions (2,603 ) (656 ) - - (3,259 ) Balance, March 31, 2020 $ 63,331 $ 4,702 $ 2,723 $ (466 ) $ 70,290 As at March 31, 2020, non-controlling interests in Henan Found, Henan Huawei, Yunxiang, and Guangdong Found were 22.5%, 20%, 30%, and 1%, respectively. Henan Non-ferrous Geology Minerals Ltd. (“Henan Non-ferrous”) is the 17.5% equity interest holder of Henan Found. During the year ended March 31, 2020, Henan Found declared and paid dividends of $2,025 (year ended March 31, 2019 - declared and paid dividends of $8,995) to Henan Non-ferrous. Henan Xinxiangrong Mining Ltd. (“Henan Xinxiangrong”) is the 5% equity interest holder of Henan Found. During the year ended March 31, 2020, Henan Found declared and paid dividends of $578 (year ended March 31, 2019 - declared and paid dividends of $2,570) to Henan Xinxiangrong. Henan Xinhui Mining Co., Ltd. (“Henan Xinhui”) is a 20% equity interest holder of Henan Huawei. For the year ended March 31, 2020, Henan Huawei declared and paid dividends of $656 (year ended March 31, 2019 - $1,694) to Henan Xinhui.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2020
Disclosure of transactions between related parties [abstract]
RELATED PARTY TRANSACTIONS	15. RELATED PARTY TRANSACTIONS Related party transactions not disclosed elsewhere in the consolidated financial statements are as follows: Due from related parties March 31, 2020 March 31, 2019 NUAG (a) $ 94 $ 33 Henan Non-ferrous (b) 1,425 2,989 $ 1,519 $ 3,022 (a) The Company recovers costs for services rendered to NUAG and expenses incurred on behalf of NUAG pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2020, the Company recovered $530 (year ended March 31, 2019 - $225), from NUAG for services rendered and expenses incurred on behalf of NUAG. The costs recovered from NUAG were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income. (b) In March 2019, Henan Found advanced a loan of $2,989 (RMB¥20 million) to Henan Non-ferrous. The loan bears an interest rate of 4.35% per annum. In December 2019, the loan, including accumulated interest, of $2,922 (RMB¥20.7 million) was repaid. In January 2020, Henan Found advanced a loan of $1,426 (RMB¥10 million) to Henan Non-ferrous. The loan has a term of four months and bears an interest rate of 4.35% per annum. The balances with related parties are unsecured. (c) Compensation of key management personnel The remuneration of directors and other members of key management personnel, who are those having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, for the years ended March 31, 2020 and 2019 were as follows: Years Ended March 31, 2020 2019 Directors’ fees and bonus $ 293 $ 256 Salaries and bonus for key management personnel 2,519 2,498 Share-based compensation 1,487 725 $ 4,299 $ 3,479 Share-based compensation was measured at grant date fair value (see note 12(b)).

GENERAL AND ADMINISTRATIVE

GENERAL AND ADMINISTRATIVE	12 Months Ended
	Mar. 31, 2020
Disclosure of general and administrative expense [Abstract]
GENERAL AND ADMINISTRATIVE	16. GENERAL AND ADMINISTRATIVE General and administrative expenses consist of: Year ended March 31, 2020 Year ended March 31, 2019 Corporate Mines Total Corporate Mines Total Amortization and depreciation $ 447 $ 1,511 $ 1,958 $ 162 $ 1,091 $ 1,253 Office and administrative expenses 2,304 2,881 5,185 2,741 3,160 5,901 Professional fees 562 481 1,043 440 426 866 Salaries and benefits 4,245 5,183 9,428 4,319 4,889 9,208 Share-based compensation 2,536 - 2,536 1,813 - 1,813 $ 10,094 $ 10,056 $ 20,150 $ 9,475 $ 9,566 $ 19,041

GOVERNMENT FEES AND OTHER TAXES

GOVERNMENT FEES AND OTHER TAXES	12 Months Ended
	Mar. 31, 2020
Disclosure of government fees and other taxes [Abstract]
GOVERNMENT FEES AND OTHER TAXES	17. GOVERNMENT FEES AND OTHER TAXES Government fees and other taxes consist of: Year ended March 31, 2020 2019 Government fees $ 210 $ 162 Other taxes 1,905 2,537 $ 2,115 $ 2,699 Government fees refer to the environmental protection fees paid to the state and local Chinese government. Other taxes were composed of surtax on value-added tax, land usage levy, stamp duty and other miscellaneous levies, duties and taxes imposed by the state and local Chinese government.

FINANCE ITEMS

FINANCE ITEMS	12 Months Ended
	Mar. 31, 2020
Disclosure of finance items [Abstract]
FINANCE ITEMS	18. FINANCE ITEMS Finance items consist of: Year ended March 31, Finance income 2020 2019 Interest income $ 4,023 $ 3,476 Year ended March 31, Finance costs 2020 2019 Interest on bank loan $ 45 $ 152 Interest on lease obligation 112 - Loss on disposal of bonds 1,494 - Unwinding of discount of environmental rehabilitation provision 422 479 $ 2,073 $ 631

INCOME TAX

INCOME TAX	12 Months Ended
	Mar. 31, 2020
Major components of tax expense (income) [abstract]
INCOME TAX	19. INCOME TAX (a) Income tax expense The significant components of income tax expense recognized in the statements of income are as follows: Year ended March 31, Income tax expense 2020 2019 Current $ 5,613 $ 17,750 Deferred 3,296 3,121 $ 8,909 $ 20,871 The reconciliation of the Canadian statutory income tax rates to the effective tax rate is as follows: Years ended March, 31 2020 2019 Canadian statutory tax rate 27.00 % 27.00 % Income before income taxes $ 54,112 $ 72,918 Income tax expense computed at Canadian statutory rates 14,610 19,688 Foreign tax rates different from statutory rate (2,255 ) (1,707 ) Permanent items 760 (444 ) Withholding taxes 2,782 5,153 Change in unrecognized deferred tax assets (6,988 ) (1,819 ) Income tax expense $ 8,909 $ 20,871 (b) Deferred income tax The continuity of deferred income tax assets (liabilities) is summarized as follows: Years ended March, 31 2020 2019 Net deferred income tax liabilities, beginning of the year $ (34,334 ) $ (33,310 ) Deferred income tax expense recognized in net income for the year (3,296 ) (3,121 ) Foreign exchange impact 1,872 2,097 Net deferred income tax liabilities, end of the year $ (35,758 ) $ (34,334 ) The significant components of the Company s deferred income tax are as follows: March 31, 2020 March 31, 2019 Deferred income tax assets Plant and equipment $ 1,001 $ 880 Environmental rehabilitation 1,948 3,155 Other deductible temporary difference 519 454 Total deferred income tax assets 3,468 4,489 Deferred income tax liabilities Plant and equipment (1,258 ) (829 ) Mineral rights and properties (37,601 ) (37,465 ) Unrealized gain on investments (65 ) (365 ) Other taxable temporary difference (302 ) (164 ) Total deferred income tax liabilities (39,226 ) (38,823 ) Net deferred income tax liabilities $ (35,758 ) $ (34,334 ) Deferred tax assets are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. The ability to realize the tax benefits is dependent upon numerous factors, including the future profitability of operations in the jurisdictions in which the tax benefits arose. Deductible temporary differences and unused tax losses for which no deferred tax assets have been recognized are attributable to the following: March 31, 2020 March 31, 2019 Non-capital loss carry forward $ 63,355 $ 77,620 Plant and equipment 14,460 25,765 Mineral rights and properties 5,072 4,378 Other deductible temporary difference 11,819 12,225 $ 94,706 $ 119,988 As at March 31, 2020, the Company has the following net operating losses, expiring in various years to 2041 and available to offset future taxable income in Canada and China, respectively. Canada China Total 2021 $ - $ 1,073 $ 1,073 2022 - 1,424 1,424 2023 - 1,031 1,031 2024 - 1,225 1,225 2027 1,171 1,876 3,047 2030 3,506 - 3,506 2031 6,004 - 6,004 2032 8,713 - 8,713 2033 8,967 - 8,967 2034 7,047 - 7,047 2035 6,400 - 6,400 2036 2,880 - 2,880 2037 516 - 516 2038 2,251 - 2,251 2039 2,543 - 2,543 2040 1,898 - 1,898 2041 4,830 - 4,830 $ 56,726 $ 6,629 $ 63,355 As at March 31, 2020, temporary differences of $173,020 (March 31, 2019 - $184,147) associated with the investments in subsidiaries have not been recognized as the Company is able to control the timing of the reversal of these differences which are not expected to reverse in the foreseeable future.

CAPITAL DISCLOSURES

CAPITAL DISCLOSURES	12 Months Ended
	Mar. 31, 2020
Disclosure of capital disclosures [Abstract]
CAPITAL DISCLOSURES	20. CAPITAL DISCLOSURES The Company s objectives of capital management are intended to safeguard the entity s ability to support the Company s normal operating requirement on an ongoing basis, continue the development and exploration of its mineral properties, and support any expansionary plans. The capital of the Company consists of the items included in equity less cash and cash equivalents and short-term investments. Risk and capital management are primarily the responsibility of the Company s corporate finance function and is monitored by the Board of Directors. The Company manages the capital structure and makes adjustments depending on economic conditions. Funds have been primarily secured through profitable operations and issuances of equity capital. The Company invests all capital that is surplus to its immediate needs in short-term, liquid and highly rated financial instruments, such as cash and other short-term deposits, all held with major financial institutions. Significant risks are monitored and actions are taken, when necessary, according to the Company s approved policies. In addition, the current outbreak of COVID-19 has caused significant disruption to the global economic conditions which may adversely impact the Company s results of operations. Moreover, COVID-19 has also negatively impacted on the stock markets, including the trading price of the Company s common shares, which could adversely impact the Company s ability to raise capital.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Mar. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL INSTRUMENTS	21. FINANCIAL INSTRUMENTS The Company manages its exposure to financial risks, including liquidity risk, foreign exchange risk, interest rate risk, credit risk and equity price risk in accordance with its risk management framework. The Company s Board of Directors has overall responsibility for the establishment and oversight of the Company s risk management framework and reviews the Company s policies on an ongoing basis. (a)Fair value The Company classifies its fair value measurements within a fair value hierarchy, which reflects the significance of the inputs used in making the measurements as defined in IFRS 13, Fair Value Measurement (“IFRS 13”). Level 1 - Unadjusted quoted prices at the measurement date for identical assets or liabilities in active markets. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 - Unobservable inputs which are supported by little or no market activity. The following tables set forth the Company s financial assets and liabilities that are measured at fair value level on a recurring basis within the fair value hierarchy as at March 31, 2020 and March 31, 2019 that are not otherwise disclosed. The assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair value as at March 31, 2020 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 65,777 $ - $ - $ 65,777 Short-term investments - money market instruments 53,430 - - 53,430 Investments in public companies 6,633 - - 6,633 Investments in private company - - 2,117 2,117 Fair value as at March 31, 2019 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 67,441 $ - $ - $ 67,441 Short-term investments - money market instruments 22,850 - - 22,850 Investments in public companies 9,253 - - 9,253 Fair value of the other financial instruments excluded from the table above approximates their carrying amount as at March 31, 2020 and March 31, 2019, due to the short-term nature of these instruments. There were no transfers into or out of Level 3 during the years ended March 31, 2020 and 2019. (b)Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its short-term business requirements. The Company has in place a planning and budgeting process to help determine the funds required to support the Company s normal operating requirements on an ongoing basis and its expansion plans. In the normal course of business, the Company enters into contracts that give rise to commitments for future minimum payments. The following summarizes the remaining contractual maturities of the Company s financial liabilities. March 31, 2020 March 31, 2019 Within a year 2-5 years Over 5 years Total Total Bank loan $ - $ - $ - $ - $ 4,475 Accounts payable and accrued liabilities 23,129 - - 23,129 29,856 Lease obligation 567 1,464 38 2,069 - $ 23,696 $ 1,464 $ 38 $ 25,198 $ 34,331 (c) Foreign exchange risk The Company reports its financial statements in US dollars. The functional currency of the head office, Canadian subsidiaries and all intermediate holding companies is CAD and the functional currency of all Chinese subsidiaries is RMB. The Company is exposed to foreign exchange risk when the Company undertakes transactions and holds assets and liabilities in currencies other than its functional currencies. The Company currently does not engage in foreign exchange currency hedging. The Company&8217;s exposure to currency risk affect net income is summarized as follows: March 31, 2020 March 31, 2019 Financial assets denominated in U.S. Dollars $ 60,534 $ 45,912 As at March 31, 2020, with other variables unchanged, a 10% strengthening (weakening) of the CAD against the USD would have decreased (increased) net income by approximately $6.1 million. (d)Interest rate risk The Company is exposed to interest rate risk on its cash equivalents, short term investments, and loan to one of the related parties. As at March 31, 2020, all of its interest-bearing cash equivalents and short term investments earn interest at market rates that are fixed to maturity or at variable interest rates with terms of less than one year. The loan to the related party bears an interest rate of 4.35% per annum, which approximates the prevailing commercial lending rates in China as of March 31, 2020. The Company monitors its exposure to changes in interest rates on cash equivalents, short term investments, and loan to the related party. Due to the short term nature of these financial instruments, fluctuations in interest rates would not have a significant impact on the Company s net income. (e) Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Company is exposed to credit risk primarily associated to accounts receivable, due from related parties, cash and cash equivalents, and short-term investments. The carrying amount of assets included on the balance sheet represents the maximum credit exposure. The Company undertakes credit evaluations on counterparties as necessary, requests deposits from customers prior to delivery, and has monitoring processes intended to mitigate credit risks. There were no amounts in trade or other receivables which were past due on March 31, 2020 (at March 31, 2019 - $nil) for which no provision is recognized. (f) Equity price risk The Company holds certain marketable securities that will fluctuate in value as a result of trading on Canadian financial markets. As the Company s marketable securities holdings are mainly in mining companies, the value will also fluctuate based on commodity prices. Based upon the Company s portfolio as at March 31, 2020, a 10% increase (decrease) in the market price of the securities held, ignoring any foreign currency effects, would have resulted in an increase (decrease) to comprehensive income of approximately $663.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
	Mar. 31, 2020
Disclosure of operating segments [abstract]
SEGMENTED INFORMATION	22. SEGMENTED INFORMATION The Company&8217;s operating segments are components of the Company where discrete financial information is available that is evaluated regularly by the Company s Chief Executive Officer who is the Chief Operating Decision Maker (“CODM”). The operating segments are determined based on the Company s management and internal reporting structure. Operating segments are summarized as follows: Operating Segments Subsidiaries Included in the Segment Properties Included in the Segment Mining Henan Luoning Henan Found and Henan Huawei Ying Mining District Hunan Yunxiang BYP Guangdong Guangdong Found GC Other SX Gold XHP Administrative Vancouver Silvercorp Metals Inc. and holding companies Beijing Silvercorp Metals (China) Inc. (a) Segmented information for assets and liabilities are as follows: March 31, 2020 Mining Administrative Henan Total Statement of financial position items: Luoning Hunan Guangdong Other Beijing Vancouver Current assets $ 80,160 $ 1,467 $ 3,665 $ - $ 4,289 $ 68,598 $ 158,179 Plant and equipment 45,113 3,893 15,261 - 862 1,593 66,722 Mineral rights and properties 192,746 6,884 24,956 - - - 224,586 Investment in an associate - - - - - 44,555 44,555 Other investments 2,117 - - - - 6,633 8,750 Reclamation deposits 5,043 - 4,180 - - 7 9,230 Long-term prepaids and deposits 205 99 86 - - - 390 Long-term portion of lease receivable - - - - - 348 348 Total assets $ 325,384 $ 12,343 $ 48,148 $ - $ 5,151 $ 121,734 $ 512,760 Current liabilities $ 19,495 $ 1,322 $ 3,154 $ - $ 625 $ 3,232 $ 27,828 Long-term portion of lease obligation - - - - - 1,502 1,502 Deferred income tax liabilities 34,761 997 - - - - 35,758 Environmental rehabilitation 6,775 1,015 910 - - - 8,700 Total liabilities $ 61,031 $ 3,334 $ 4,064 $ - $ 625 $ 4,734 $ 73,788 March 31, 2019 Mining Administrative Henan Total Statement of financial position items: Luoning Hunan Guangdong Other Beijing Vancouver Current assets $ 66,992 $ 1,540 $ 11,870 $ 529 $ 5,435 $ 48,495 $ 134,861 Plant and equipment 47,600 4,319 15,354 255 932 157 68,617 Mineral rights and properties 197,274 7,222 26,670 7,754 - - 238,920 Investment in an associate - - - - - 38,703 38,703 Other investments - - - - - 9,253 9,253 Reclamation deposits 5,330 - 2,616 - - 7 7,953 Long-term prepaids and deposits 369 104 170 126 - - 769 Total assets $ 317,565 $ 13,185 $ 56,680 $ 8,664 $ 6,367 $ 96,615 $ 499,076 Current liabilities $ 27,000 $ 1,391 $ 4,036 $ 2,548 $ 1,102 $ 1,796 $ 37,873 Deferred income tax liabilities 33,337 997 - - - - 34,334 Environmental rehabilitation 11,623 998 774 293 - - 13,688 Total liabilities $ 71,960 $ 3,386 $ 4,810 $ 2,841 $ 1,102 $ 1,796 $ 85,895 (b) Segmented information for operating results are as follows: Year ended March 31, 2020 Mining Administrative Henan Total Statement of income: Luoning Hunan (1) Guangdong Other Beijing Vancouver Sales $ 131,434 $ - $ 27,395 $ - $ - $ - $ 158,829 Costs of mine operations (77,337 ) (403 ) (21,689 ) - (26 ) - (99,455 ) Income from mine operations 54,097 (403 ) 5,706 - (26 ) - 59,374 Operating income (expenses) 333 (134 ) (178 ) (60 ) (1,590 ) (5,583 ) (7,212 ) Finance items, net 1,366 (147 ) 136 - 133 462 1,950 Income tax expenses (5,013 ) (53 ) (1,060 ) - (1 ) (2,782 ) (8,909 ) Net income (loss) $ 50,783 $ (737 ) $ 4,604 $ (60 ) $ (1,484 ) $ (7,903 ) $ 45,203 Attributable to: Equity holders of the Company 39,679 (516 ) 4,558 (60 ) (1,484 ) (7,903 ) 34,274 Non-controlling interests 11,104 (221 ) 46 - - - 10,929 Net income (loss) $ 50,783 $ (737 ) $ 4,604 $ (60 ) $ (1,484 ) $ (7,903 ) $ 45,203 (1) Year ended March 31, 2019 Mining Administrative Henan Total Statement of income: Luoning Hunan Guangdong Other Beijing Vancouver Sales $ 141,483 $ - $ 29,036 $ - $ - $ - $ 170,519 Costs of mine operations (76,276 ) (855 ) (21,566 ) (854 ) (36 ) - (99,587 ) Income from mine operations 65,207 (855 ) 7,470 (854 ) (36 ) - 70,932 Operating (expenses) income (858 ) (106 ) (344 ) 44 (1,555 ) (7,218 ) (10,037 ) Impairment recovery, net - - - 7,279 - 1,899 9,178 Finance items, net 1,131 (127 ) 51 (11 ) 145 1,656 2,845 Income tax expenses (15,588 ) (128 ) - - (2 ) (5,153 ) (20,871 ) Net income (loss) $ 49,892 $ (1,216 ) $ 7,177 $ 6,458 $ (1,448 ) $ (8,816 ) $ 52,047 Attributable to: Equity holders of the Company 39,008 (851 ) 6,825 5,006 (1,448 ) (8,816 ) 39,724 Non-controlling interests 10,884 (365 ) 352 1,452 - - 12,323 Net income (loss) $ 49,892 $ (1,216 ) $ 7,177 $ 6,458 $ (1,448 ) $ (8,816 ) $ 52,047 (c) Sales by metal The sales generated for the years ended March 31, 2019 and 2018 were all earned in China and are comprised of: Year ended March 31, 2020 Henan Luoning Guangdong Total Silver (Ag) $ 77,617 $ 7,255 $ 84,872 Gold (Au) 3,911 - 3,911 Lead (Pb) 43,312 8,654 51,966 Zinc (Zn) 4,911 10,869 15,780 Other 1,683 617 2,300 $ 131,434 $ 27,395 $ 158,829 Year ended March 31, 2019 Henan Luoning Guangdong Total Silver (Ag) $ 74,702 $ 5,952 $ 80,654 Gold (Au) 3,642 - 3,642 Lead (Pb) 55,739 8,372 64,111 Zinc (Zn) 6,305 14,349 20,654 Other 1,095 363 1,458 $ 141,483 $ 29,036 $ 170,519 (d) Major customers For the year ended March 31, 2020, five major customers (year ended March 31, 2019 - four) accounted for 11%, 12%, 16%, 19%, and 22%, respectively (year ended March 31, 2019 - 12%, 13%, 15%, and 26%, respectively) and collectively 81% (year ended March 31, 2019 - 67%) of the total sales of the Company as reported across the Henan Luoning and Guangdong segments.

SUPPLEMENTARY CASH FLOW INFORMA

SUPPLEMENTARY CASH FLOW INFORMATION	12 Months Ended
	Mar. 31, 2020
Supplementary Cash Flow Information Schedule Of Change In Non-cash Operating Working Capital
SUPPLEMENTARY CASH FLOW INFORMATION	23. SUPPLEMENTARY CASH FLOW INFORMATION March 31, 2020 March 31, 2019 Cash on hand and at bank $ 65,251 $ 67,215 Bank term deposits and GICs 526 226 Total cash and cash equivalents $ 65,777 $ 67,441 Changes in non-cash operating working capital: Years Ended March 31, 2020 2019 Trade and other receivables $ 330 $ 169 Inventories 1,798 (606 ) Prepaids and deposits 184 500 Accounts payable and accrued liabilities (1,616 ) 3,962 Deposits received 1,236 (3,343 ) Due from a related party (170 ) (23 ) $ 1,762 $ 659

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	24. SUBSEQUENT EVENTS On April 27, 2020, the Company announced that it entered into a definitive agreement (the “Arrangement Agreement”) whereby the Company will acquire all of the issued and outstanding shares of Guyana Goldfields Inc. (TSX: GUY) (“Guyana Goldfields”) by way of a court approved plan of arrangement under the Canada Business Corporations Act (the “Transaction”). Under the terms of the Transaction, each holder of Guyana Goldfields shares will have the option to receive, for each Guyana Goldfields share held, CAD$0.60 in cash or 0.1195 of a Silvercorp common share (valued at CAD$0.60 based on the volume weighted average price for Silvercorp common shares for the 20 trading days ended April 24, 2020), subject to a maximum cash consideration of approximately $23.4 million (CAD$33.2 million). If all Guyana Goldfields shareholders elect to receive cash, consideration for each share will consist of CAD$0.20 in cash and 0.0796 of a Silvercorp common share (valued at CAD$0.40 based on the volume weighted average price for Silvercorp common shares for the 20 trading days ended April 24, 2020). Assuming the maximum cash consideration, existing Guyana Goldfields shareholders will own 7.1% of Silvercorp s pro forma basic shares outstanding following the Transaction. The consideration of CAD$0.60 per share represents a 71% premium to the 20-day volume weighted average price of Guyana Goldfields as of the close of trading on April 24, 2020. Concurrently with entering into the Arrangement Agreement, the Company and Guyana Goldfields have also entered into a loan agreement, whereby the Company will lend Guyana Goldfields up to US$15 million with an interest rate of 12% per annum (or, on the occurrence of certain triggering events, 14% per annum) to fund Guyana Goldfields expected liquidity shortfall between the signing of the Arrangement Agreement and the closing of the Transaction. On May 18, 2020, the Company announced that it has entered into an amending agreement (the “Amending Agreement”) to the Arrangement Agreement. Pursuant to the terms of the Amending Agreement, each holder of Guyana Goldfields shares will receive, for each Guyana Goldfields share held, C$0.25 in cash and 0.1849 of a Silvercorp common share, for total consideration of C$1.30 per share (based on the volume weighted average price for Silvercorp common shares for the 5 trading days ended May 14, 2020). The terms of the Amending Agreement were agreed to following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party to acquire Guyana Goldfields After accounting for Silvercorp s current share position in Guyana Goldfields, cash consideration of C$0.25 per Guyana Goldfields share implies a total cash component of approximately $27.8 million (C$39.5 million). Share consideration of C$1.05 per Guyana Goldfields share implies a total share component of 29.2 million shares after accounting for Silvercorp s existing position, resulting in existing Guyana Goldfields shareholders owning 14.4% of Silvercorp s pro forma basic shares outstanding following the Transaction. Commensurate with the increase in consideration, valuing Guyana Goldfields at approximately C$227 million, the Amending Agreement provides for an increase in the termination fee to C$9.0 million, which is to be paid by Guyana Goldfields to Silvercorp if the Arrangement Agreement is terminated in the event Guyana Goldfields’s board accepts a superior proposal . Other than as described herein, the terms of the Transaction remain unamended, including the terms of the interim loan facility. The Transaction will be effected by way of a court-approved plan of arrangement under the Canada Business Corporation Act and will be subject to the approval of 66 2/3

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2020
Disclosure of significant accounting policies [Abstract]
Statement of Compliance	(a)Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The policies applied in these consolidated financial statements are based on IFRS in effect as of March 31, 2020. These consolidated financial statements were authorized for issue in accordance with a resolution of the Board of Directors dated on May 20, 2020.
Basis of Consolidation	(b)Basis of Consolidation These consolidated financial statements include the accounts of the Company and its wholly or partially owned subsidiaries. Subsidiaries are consolidated from the date on which the Company obtains control up to the date of the disposition of control. Control is achieved when the Company has power over the subsidiary, is exposed or has rights to variable returns from its involvement with the subsidiary; and has the ability to use its power to affect its returns. For non-wholly-owned subsidiaries over which the Company has control, the net assets attributable to outside equity shareholders are presented as “non-controlling interests” in the equity section of the consolidated statements of financial position. Net income for the period that is attributable to the non-controlling interests is calculated based on the ownership of the non-controlling interest shareholders in the subsidiary. Adjustments to recognize the non-controlling interests share of changes to the subsidiary s equity are made even if this results in the non-controlling interests having a deficit balance. Changes in the Company s ownership interest in a subsidiary that do not result in a loss of control are recorded as equity transactions. The carrying amount of non-controlling interests is adjusted to reflect the change in the non-controlling interests relative interests in the subsidiary and the difference between the adjustment to the carrying amount of non-controlling interest and the Company s share of proceeds received and/or consideration paid is recognized directly in equity and attributed to equity holders of the Company. Balances, transactions, revenues and expenses between the Company and its subsidiaries are eliminated on consolidation. Details of the Company s significant subsidiaries which are consolidated are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of subsidiaries Principal activity incorporation 2020 2019 Mineral properties Silvercorp Metals China Inc. Holding company Canada 100% 100% Silvercorp Metals (China) Inc. Holding company China 100% 100% 0875786 B.C. LTD. Holding company Canada 100% 100% Fortune Mining Limited Holding company BVI (i) 100% 100% Fortune Copper Limited Holding company BVI 100% 100% Fortune Gold Mining Limited Holding company BVI 100% 100% Victor Resources Ltd. Holding company BVI 100% 100% Yangtze Mining Ltd. Holding company BVI 100% 100% Victor Mining Ltd. Holding company BVI 100% 100% Yangtze Mining (H.K.) Ltd. Holding company Hong Kong 100% 100% Fortune Gold Mining (H.K.) Limited Holding company Hong Kong 100% 100% Wonder Success Limited Holding company Hong Kong 100% 100% Henan Huawei Mining Co. Ltd. (“Henan Huawei”) Mining China 80% 80% Ying Mining District Henan Found Mining Co. Ltd. (“Henan Found”) Mining China 77.5% 77.5% Songxian Gold Mining Co., Ltd. (“SX Gold”) Mining China 0.0% 77.5% XHP Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (Guangdong Found”) Mining China 99% 99% GC (i) British Virgin Islands (“BVI”)
Investments in Associates	(c) Investments in Associates An associate is an entity over which the Company has significant influence but not control and is not a subsidiary or joint venture. Significant influence is presumed to exist where the Company has between 20% and 50% of the voting rights, but can also arise when the Company has power to be actively involved and influential in financial and operating policy decisions of the entity even though Company has less than 20% of voting rights. The Company accounts for its investments in associates using the equity method. Under the equity method, the Company s investment in an associate is initially recognized at cost and subsequently increased or decreased to recognize the Company s share of profit and loss of the associate and for impairment losses after the initial recognition date. The Company s share of an associate s loss that are in excess of its investment are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. The Company s share of comprehensive income or losses attributable to shareholders of associates are recognized in comprehensive income during the period. The carrying amount of the Company s investments in associates also include any long-term debt interests which in substance form part of the Company s net investment. Distributions received from an associate are accounted for as a reduction in the carrying amount of the Company s investment. At the end of each reporting period, the Company assesses whether there is any objective evidence that an investment in an associate is impaired. Objective evidence includes observable data indicating there is a measurable decrease in the estimated future cash flows of the associate s operations. When there is objective evidence that an investment in an associate is impaired, the carrying amount is compared to its recoverable amount, being the higher of its fair value less cost to sell and value in use. An impairment loss is recognized if the recoverable amount is less than its carrying amount. When an impairment loss reverses in a subsequent period, the carrying amount of the investment is increased to the revised estimate of recoverable amount to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had an impairment loss not been previously recognized. Impairment losses and reversal of impairment losses, if any, are recognized in net income in the period in which the relevant circumstances are identified. Details of the Company s associate are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of associate Principal activity incorporation 2020 2019 New Pacific Metals Corp. ("NUAG") Mining Canada 28.8% 29.6%
Business Combinations	(d)Business Combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition date fair value and the amount of any non-controlling interest in the acquiree. For each business combination, the Company elects whether it measures the non-controlling interest in the acquiree either at fair value or at the proportionate share of the acquiree s identifiable net assets. Acquisition costs incurred are expensed and included in general and administrative expenses. When the Company acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. If the business combination is achieved in stages, the acquisition date fair value of the acquirer s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss.
Foreign Currency Translation	(e) Foreign Currency Translation The functional currency for each subsidiary of the Company is the currency of the primary economic environment in which the entity operates. The functional currency of the head office, Canadian subsidiaries and all intermediate holding companies is the Canadian dollar (“CAD”). The functional currency of all Chinese subsidiaries is the Chinese Renminbi (“RMB”). Foreign currency monetary assets and liabilities are translated into the functional currency using exchange rates prevailing at the balance sheet date. Foreign currency non-monetary assets are translated using exchange rates prevailing at the transaction date. Foreign exchange gains and losses are included in the determination of net income. The consolidated financial statements are presented in U.S. dollars (“USD”). The financial position and results of the Company s entities are translated from functional currencies to USD as follows: assets and liabilities are translated using exchange rates prevailing at the balance sheet date; income and expenses are translated using average exchange rates prevailing during the period; and all resulting exchange gains and losses are included in other comprehensive income. The Company treats inter-company loan balances, which are not intended to be repaid in the foreseeable future, as part of its net investment. When a foreign entity is sold, the historical exchange differences plus the foreign exchange impact that arises on the transaction are recognized in the statement of income as part of the gain or loss on sale.
Revenue Recognition	(f) Revenue Recognition Revenue from contracts with customers is recognized when control of the asset sold is transferred to customers and the Company satisfies its performance obligation. Revenue is allocated to each performance obligation. The Company considers the terms of the contract in determining the transfer price. The transaction price is based upon the amount the Company expects to receive in exchange for the transferring of the assets. In determining whether the Company has satisfied a performance obligation, it considers the indicators of the transfer of control, which include, but are not limited to, whether: the Company has a present right to payment; the customer has legal title to the asset; the Company has transferred physical possession of the asset to the customer; and the customer has the significant risks and rewards of ownership of the asset. This generally occurs when the assets are loaded on the trucks arranged by the customer at the Company s milling facilities. In cases where the Company is responsible for the costs of shipping and certain other services after the date on which the control of the assets transferred to the customer, these other services are considered separate performance obligations and thus a portion of revenue earned under the contract is allocated and recognized as these performance obligations are satisfied. Revenue from concentrate sales is typically recorded based on the Company s assay results for the quantity and quality of concentrate sold and the applicable commodity prices, such as silver, gold, lead and zinc, set on a specific quotation period, typical ranging from ten to fifteen days around shipment date, by reference to active and freely traded commodity market. Adjustments, if any, related to the final assay results for the quantity and quality of concentrate sold are not significant and do not constrain the recognition of revenue. Smelter charges, including refining and treatment charges, are netted against revenue from metal concentrate sales.
Cash and Cash Equivalents	(g)Cash and Cash Equivalents Cash and cash equivalents include cash on hand and held at banks and short-term money market investments that are readily convertible to cash with original terms of three months or less and exclude any restricted cash that is not available for use by the Company.
Short-term Investments	(h) Short-term Investments Short-term investments consist of certificates of deposit and money market instruments, including cashable guaranteed investment certificates, bearer deposit notes and other financial assets with original terms of over three months but less than one year. Bonds traded on open markets are also included in short-term investments.
Inventories	(i) Inventories Inventories include concentrate inventories, direct smelting ore, stockpile ore and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. Material that does not contain a minimum quantity of metal to cover estimated processing expenses to recover the contained metal is not classified as inventory and is assigned no value. Direct smelting ore and stockpiled ore are sampled for metal content and are valued at the lower of mining cost and net realizable value. Mining cost includes the cost of raw material, mining contractor cost, direct labour costs, depletion and depreciation, and applicable production overheads, based on normal operating capacity. Concentrate inventories are valued at the lower of cost and net realizable value. The cost of concentrate inventories includes the mining cost for stockpiled ore milled, freight charges for shipping stockpile ore from mine sites to mill sites and milling cost. Milling cost includes cost of materials and supplies, direct labour costs, and applicable production overheads cost, based on normal operating capacity. Material and supplies are valued at the lower of cost, determined on a weighted average cost basis, and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sales.
Plant and Equipment	(j) Plant and Equipment Plant and equipment are initially recorded at cost, including all directly attributable costs to bring the assets to the location and condition necessary for it to be capable of operating in the manner intended by management. Plant and equipment are subsequently measured at cost less accumulated depreciation and impairment losses. Depreciation is computed on a straight-line basis based on the nature and useful lives of the assets. The significant classes of plant and equipment and their estimated useful lives are as follows: Buildings 20 years Office equipment 5 years Machinery 5-10 years Motor vehicles 5 years Land use rights 50 years Leasehold improvements 5 years Subsequent costs that meet the asset recognition criteria are capitalized, while costs incurred that do not extend the economic useful life of an asset are considered repairs and maintenance, which are accounted for as an expense recognized during the period. Assets under construction are capitalized as construction-in-progress. The cost of construction-in-progress comprises of the asset s purchase price and any costs directly attributable to bringing it into working condition for its intended use. Construction-in-progress assets are transferred to other respective asset classes and are depreciated when they are completed and available for use. Upon disposal or abandonment, the carrying amounts of plant and equipment are derecognized and any associated gain or loss is recognized in net income.
Mineral Rights and Properties	(k) Mineral Rights and Properties Mineral rights and properties include the following capitalized payments and expenditures: Acquisition costs which consist of payments for property rights and leases, including payments to acquire or renew an exploration or mining permit, and the estimated fair value of properties acquired as part of business combination or the acquisition of a group of assets. Exploration and evaluation costs incurred on a specific property after an acquisition of a beneficial interest or option in the property. Exploration and evaluation expenditures on properties for which the Company does not have title or rights to are expensed when incurred. Exploration and evaluation activities involve the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Development costs incurred to construct a mine and bring it into commercial production. Proceeds from sales generate during this development and pre-production stage, if any, are deducted from the costs of the asset. Expenditures incurred on producing properties that are expected to have future economic benefit, including to extend the life of the mine and to increase production by providing access to additional reserves, such as exploration tunneling that can increase or upgrade the mineral resources, and development tunneling, including to build shafts, drifts, ramps, and access corridors that enable to access ore underground. Borrowing costs incurred that are directly attributed to the acquisition, construction and development of a qualifying mineral property. Estimated of environmental rehabilitation and restoration costs. Before commencement of commercial production, mineral rights and properties are carried at costs, less any accumulated impairment charges. Upon commencement of commercial production, mineral rights and properties are carried at costs, less accumulated depletion and any accumulated impairment charges. Mineral rights and properties, other than the payments to renew mining permits (the “mine right fee”) are depleted over the mine s estimated life using the units of production method calculated based on proven and probable reserves. Estimation of proven and probable reserves for each property is updated when relative information is available; the result will be prospectively applied to calculate depletion amounts for future periods. If commercial production commences prior to the determination of proven and probable reserves, depletion is calculated based on the mineable portion of measured and indicated resources. The mine right fee is depleted using the units of production method based on the mineral resources which were used to determine the mine right fee payable.
Impairment and impairment reversals	(l) Impairment and impairment reversals At each reporting period, the Company reviews and evaluates its assets for impairment, or reversal of a previously recognized impairment, when events or changes in circumstances indicate that the related carrying amounts may not be recoverable or when there is an indication that impairment may have reversed. When impairment indicators exist, an estimate of the recoverable amount is undertaken, being the higher of an asset s fair value less cost of disposal (“FVLCTD”) and value in use (“VIU”). If the carrying value exceeds the recoverable amount, an impairment loss is recognized in the consolidated statement of income during the period. 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 assessment of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. The cash flows are based on best estimates of expected future cash flows from the continued use of the asset and its eventual disposal. FVLCTD is best evidence if obtained from an active market or binding sale agreement. Where neither exists, the fair value is based the best estimates available to reflect the amount that could be received from an arm s length transaction. Fair value of asset is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects. Impairment is normally assessed at the level of cash-generating units (“CGU”), a CGU is identified as the smallest identifiable group of assets that generates cash inflows which are independent of the cash inflows generated from other assets. When there is an indication that an impairment loss recognized previously may no longer exist or has decreased, the recoverable amount is calculated. If the recoverable amount exceeds the carrying amount, the carrying value of the asset is increased to the recoverable amount. The increased carrying amount cannot exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. A reversal of an impairment loss is recognized as a gain in the consolidated statements of income in the period it is determined.
Environmental Rehabilitation Provision	(m) Environmental Rehabilitation Provision The mining, extraction and processing activities of the Company normally give rise to obligations for site closure or rehabilitation. Closure and decommissioning works can include facility decommissioning and dismantling; removal or treatment of waste materials; site and land rehabilitation. The extent of work required and the associated costs are dependent on the requirements of relevant authorities and the Company s environmental policies. Provisions for the cost of each closure and rehabilitation program are recognized at the time when environmental disturbance occurs. When the extent of disturbance increases over the life of an operation, the provision is increased accordingly. Costs included in the provision encompass all closure and decommissioning activity expected to occur progressively over the life of the operation and at the time of closure in connection with disturbances at the reporting date. Routine operating costs that may impact the ultimate closure and decommissioning activities, such as waste material handling conducted as an integral part of a mining or production process, are not included in the provision. Costs arising from unforeseen circumstances, such as the contamination caused by unplanned discharges, are recognized as an expense and liability when the event gives rise to an obligation which is probable and capable of reliable estimation. The timing of the actual closure and decommissioning expenditure is dependent upon a number of factors such as the life and nature of the asset, the operating license conditions, and the environment in which the mine operates. Expenditure may occur before and after closure and can continue for an extended period of time dependent on closure and decommissioning requirements. Closure and decommissioning provisions are measured at the expected amount of future cash flows, discounted to their present value for each operation. Discount rates used are specific to the underlying obligation. Significant judgments and estimates are involved in forming expectations of future activities and the amount and timing of the associated cash flows. Those expectations are formed based on existing environmental and regulatory requirements which give rise to a constructive or legal obligation. When provisions for closure and decommissioning are initially recognized, the corresponding cost is capitalized as an asset, representing part of the cost of acquiring the future economic benefits of the operation. The capitalized cost of closure and decommissioning activities is recognized in Mineral Rights and Properties and depleted accordingly. The value of the provision is progressively increased over time as the effect of discounting unwinds, creating an expense recognized in finance costs. Closure and decommissioning provisions are also adjusted for changes in estimates. Those adjustments are accounted for as a change in the corresponding capitalized cost, except where a reduction in the provision is greater than the undepreciated capitalized cost of the related assets, in which case the capitalized cost is reduced to nil and the remaining adjustment is recognized in the income statement. In the case of closed sites, changes to estimated costs are recognized immediately in the consolidated statements of income. Changes to the capitalized cost result in an adjustment to future depreciation and finance charges. Adjustments to the estimated amount and timing of future closure and decommissioning cash flows are a normal occurrence in light of the significant judgments and estimates involved. The provision is reviewed at the end of each reporting period for changes to obligations, legislation or discount rates that impact estimated costs or lives of operations and adjusted to reflect current best estimate. The cost of the related asset is adjusted for changes in the provision resulting from changes in the estimated cash flows or discount rate and the adjusted cost of the asset is depreciated prospectively.
Leases	(n)Leases IFRS 16 - Leases Leases Determining whether an arrangement contains a lease The Company applied IFRS 16 on April 1, 2019 retrospectively, with the cumulative effect of initially applying the standard as an adjustment to retained earnings and no restatement of comparative information. The Company has elected to apply the available exemptions as permitted by IFRS 16 to recognize a lease expense on a straight line basis for short term leases (lease term of 12 months or less) and low value assets. The Company has also elected to apply the practical expedient whereby leases whose term ends within 12 months of the date of initial application would be accounted for in the same way as short-term lease. Policies applicable from April 1, 2019 Lease Definition At inception of a contract, the Company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. An identified asset may be implicitly or explicitly specified in a contract, but must be physically distinct, and must not have the ability for substitution by a lessor. A lessee has the right to control an identified asset if it obtains substantially all of its economic benefits and either predetermines or directs how and for what purposes the asset is used. Measurement of Right of Use (“ROU”) Assets and Lease Obligations At the commencement of a lease, the Company, if acting in capacity as a lessee, recognizes an ROU asset and a lease obligation. The ROU asset is initially measured at cost, which comprises the initial amount of the lease obligation adjusted for any lease payments made at, or before, the commencement date, plus any initial direct costs incurred, less any lease incentives received. The ROU asset is subsequently amortized on a straight-line basis over the shorter of the term of the lease, or the useful life of the asset determined on the same basis as the Company s plant and equipment. The ROU asset is periodically adjusted for certain remeasurements of the lease obligation, and reduced by impairment losses, if any. If an ROU asset is subsequently leased to a third party (a “sublease”) and the sublease is classified as a finance lease, the carrying value of the ROU asset to the extent of the sublease is derecognized. Any difference between the ROU asset and the lease receivable arising from the sublease is recognized in profit or loss. The lease obligation is initially measured at the present value of the lease payments remaining at the lease commencement date, discounted using the interest rate implicit in the lease or the Company s incremental borrowing rate if the rate implicit in the lease cannot be determined. Lease payments included in the measurement of the lease obligation, when applicable, may comprise of fixed payments, variable payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the exercise price under a purchase, extension or termination option that the Company is reasonably certain to exercise. The lease obligation is subsequently measured at amortized 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 Company s estimate of the amount expected to be payable under a residual value guarantee, or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease obligation is remeasured, a corresponding adjustment is made to the carrying amount of the ROU asset. Measurement of Lease Receivable At the commencement of a lease, the Company, if acting in capacity as a lessor, will classify the lease as finance lease and recognize a lease receivable at an amount equal to the net investment in the lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset or if the lease is a sublease, by reference to the ROU asset arising from the original lease (the “head lease”). A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset or the lease is a short-term lease. Cash received from an operating lease is included in other income in the Company s consolidated statement of income on a straight-line basis over the period the lease. The lease receivable is initially measure at the present value of the lease payments remaining at the lease commencement date, discounted at the interest rate implicit in the lease or the Company s incremental borrowing rate if the lease is a sublease. The lease receivable is subsequently measured at amortized cost using the effective interest rate method, and reduced by the amount received and impairment losses, if any. Recognition Exemptions The Company has elected not to recognize the ROU asset and lease obligations for short-term leases that have a lease term of 12 months or less or for leases of low-value assets. Payments associated with these leases are recognized as general and administrative expense on a straight-line basis over the lease term on the consolidated statement of income. Adjustments upon Adoption Upon adoption of IFRS 16 on April 1, 2019, the Company recognized lease receivable, ROU asset, and lease obligation of $447, $360, and $1,463, respectively, related to the Company s office lease agreement and sublease agreements. The Company also recognized cumulative adjustments to retained earnings and accumulated other comprehensive income of $(823) and $167, respectively.
Borrowing Costs	(o)Borrowing Costs Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, which necessarily takes a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset. All other borrowing costs are expensed in the period in which they are incurred. No borrowing costs were capitalized in the periods presented.
Share-based Payments	(p) Share-based Payments The Company makes share-based awards, including restricted share units (“RSUs”), performance share units (“PSUs”), and stock options, to employees, officers, directors, and consultants. For equity-settled awards, the fair value is charged to the consolidated statements of income and credited to equity, on a straight-line basis over the vesting period, after adjusting for the estimated number of awards that are expected to vest. The fair value of share units is determined based on quoted market price of our common shares at the date of grant. The fair value of the stock options granted to employees, officers, and directors is determined at the date of grant using the Black-Scholes option pricing model with market related input. The fair value of stock options granted to consultants is measured at the fair value of the services delivered unless that fair value cannot be estimated reliably, which then is determined using the Black-Scholes option pricing model. Stock options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. For cash-settled awards, the fair value is estimated based on the quoted market price of our common shares and are remeasured at each reporting period until the awards are vested. The fair value of these awards recognized as share-based compensation expenses in the consolidated statements of income over the vesting period, with a corresponding increase to accrued liabilities. At each statement of financial position date prior to vesting, the cumulative expense representing the extent to which the vesting period has expired and management s best estimate of the awards that are ultimately expected to vest is computed (after adjusting for non-market performance conditions). The movement in cumulative expense is recognized in the consolidated statements of income with a corresponding entry within equity. No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vested irrespective of whether or not the market condition is satisfied, provided that all other performance conditions are satisfied.
Income Taxes	(q)Income Taxes Current tax for each taxable entity is based on the local taxable income at the local statutory tax rate enacted or substantively enacted at the balance sheet date and includes adjustments to tax payable or recoverable in respect to previous periods. Current tax assets and current tax liabilities are only offset if a legally enforceable right exists to set off the amounts, and the Company intends to settle on a net basis, or to realize the asset and settle the liability simultaneously. Deferred tax is recognized using the balance sheet liability method on temporary differences at the reporting date between the tax bases of assets and liabilities, and their carrying amounts for financial reporting purposes. Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses, can be utilized, except: where the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred income tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that future taxable profit will be available to allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred income tax relating to items recognized outside profit or loss is recognized in other comprehensive income or directly in equity. Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.
Earnings per Share	(r) Earnings per Share Earnings per share are computed by dividing net income available to equity holders of the Company by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if additional common shares are assumed to be issued under securities that entitle their holders to obtain common shares in the future. For stock options and warrants, the number of additional shares for inclusion in diluted earnings per share calculations is determined by the options and warrants, whose exercise price is less than the average market price of the Company s common shares, are assumed to be exercised and the proceeds are used to repurchase common shares at the average market price for the period. The incremental number of common shares issued under stock options, and repurchased from proceeds, is included in the calculation of diluted earnings per share.
Financial Instruments	(s) Financial Instruments Initial recognition: On initial recognition, all financial assets and financial liabilities are recorded at fair value adjusted for directly attributable transaction costs except for financial assets and liabilities classified as fair value through profit or loss (“FVTPL”), in which case transaction costs are expensed as incurred. Subsequent measurement of financial assets: Subsequent measurement of financial assets depends on the classification of such assets. I. Non-equity instruments: IFRS 9 includes a single model that has only two classification categories for financial instruments other than equity instruments: amortized cost and fair value. To qualify for amortized cost accounting, the instrument must meet two criteria: i. The objective of the business model is to hold the financial asset for the collection of the contractual cash flows; and ii. All contractual cash flows represent only principal and interest on that principal. All other instruments are mandatorily measured at fair value. II. Equity instruments: At initial recognition, for equity instruments other than held for trading, the Company may make an irrevocable election to designate them, on instrument by instrument basis, as either FVTPL or fair value through other comprehensive income (“FVTOCI”). Financial assets classified as amortized cost are measured at the amount of initial recognition minus principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any impairment loss allowance. Amortization or interest income from the effective interest method is included in finance income. Financial assets classified as FVTPL are measured at fair value with changes in fair values recognized in profit or loss. Equity investments designated as FVTOCI are measured at fair value with changes in fair values recognized in other comprehensive income (“OCI”). Dividends from that investment are recorded in profit or loss when the Company&8217;s right to receive payment of the dividend is established unless they represent a recovery of part of the cost of the investment. Impairment of financial assets carried at amortized cost: The Company recognizes a loss allowance for expected credit losses on its financial assets carried at amortized cost. The amount of expected credit losses is updated at each reporting period to reflect changes in credit risk since initial recognition of the respective financial instruments. Subsequent measurement of financial liabilities: Financial liabilities classified as amortized cost are measured at the amount of initial recognition minus principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount. Amortization or interest expense using the effective interest method is included in finance costs. Financial liabilities classified as FVTPL are measured at fair value with gains and losses recognized in profit or loss. The Company classifies its financial instruments as follows: Financial assets classified as FVTPL: cash and cash equivalents, short-term investments - money market instruments, and other investments - equity investments designated as FVTPL and warrants; Financial assets classified as FVTOCI: other investments - equity investments designated as FVTOCI; Financial assets classified as amortized cost: short-term investments - bonds, trade and other receivables and due from related parties; Financial liabilities classified as amortized cost: accounts payable and accrued liabilities, dividends payable, bank loan, customer deposits and due to related parties. Derecognition of financial assets and financial liabilities: A financial asset is derecognized when: The rights to receive cash flows from the asset have expired; or The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. Gains and losses on derecognition of financial assets and liabilities classified as amortized cost are recognized in profit or loss when the instrument is derecognized or impaired, as well as through the amortization process. Gains and losses on derecognition of equity investments designated as FVTOCI (including any related foreign exchange component) are recognized in OCI. Amounts presented in OCI are not subsequently transferred to profit or loss. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another liability from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability. In this case, a new liability is recognized, and the difference in the respective carrying amounts is recognized in the statement of income. Offsetting of financial instruments: Financial assets and liabilities are offset and the net amount is reported in the consolidated statement of financial position if and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle liabilities simultaneously. Fair value of financial instruments: The fair value of financial instruments that are traded in active markets at each reporting date is determined by reference to quoted market prices, without deduction for transaction costs. For financial instruments that are not traded in active markets, the fair value is determined using appropriate valuation techniques, such as using a recent arm s length market transaction between knowledgeable and willing parties, discounted cash flow analysis, reference to the current fair value of another instrument that is substantially the same, or other valuation models.
Government Assistance	(t) Government Assistance Refundable mining exploration tax credits received from eligible mining exploration expenditures and other government grants received for project construction and development reduce the carrying amount of the related mineral rights and properties or plant and equipment assets. The depletion or depreciation of the related mineral rights and properties or plant and equipment assets is calculated based on the net amount. Government subsidies as compensation for expenses already incurred are recognized in profit and loss during the period in which it becomes receivable.
Significant Accounting Judgments and Estimates	(u) Significant Accounting Judgments and Estimates The preparation of consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions about future events that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these judgments and estimates are continuously evaluated and are based on management s experience and best knowledge of relevant facts and circumstances, actual results may differ from these estimates. Areas where critical accounting judgments have the most significant effect on the consolidated financial statements include: Capitalization of expenditures included in mineral rights and properties - Indicators of Impairment and impairment reversal The current outbreak of COVID-19 has resulted in 20 days production interruption at the Company s mine sites in addition to the Company s normal operation break during the Chinese New Year. As of March 31, 2020 and the date of issuance of the financial statements, the mines are operating as normal. The Company assessed the impact of the production interruption and determined it would not have any long-term impact on the value of associated assets. Income taxes The recognition of deferred tax assets and the determination of the ability of the Company to utilize tax loss carry-forwards to offset deferred tax liabilities requires management to exercise judgement and make certain assumptions about the future performance of the Company. Management is required to access whether it is “probable” that the Company will benefit from these prior losses and other deferred tax assets. Changes in economic conditions, metal prices, and other factors could result in revision to the estimates of the benefits to be realized or the timing of utilization of the losses. Functional currency Contingencies Areas where critical accounting estimates have the most significant effect on the amounts recognized in the consolidated financial statements include: Mineral Reserves and Mineral Resources estimates - Impairment and reserve impairment of assets - The determination of FVLCTD and VIU requires management to make estimates and assumptions about expected production based on current estimates of recoverable metal, commodity prices, operating costs, taxes and export duties, inflation and foreign exchange, salvage value, future capital expenditures and discount rates. The estimates and assumptions are subject to risk and uncertainty; hence, there is the possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reversed with the impact recorded in the consolidated statements of (loss) income. Valuation of inventory Environmental rehabilitation provision and the timing of expenditures

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of significant accounting policies [Abstract]
Schedule of Details of Company's Significant Subsidiaries	Details of the Company s significant subsidiaries which are consolidated are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of subsidiaries Principal activity incorporation 2020 2019 Mineral properties Silvercorp Metals China Inc. Holding company Canada 100% 100% Silvercorp Metals (China) Inc. Holding company China 100% 100% 0875786 B.C. LTD. Holding company Canada 100% 100% Fortune Mining Limited Holding company BVI (i) 100% 100% Fortune Copper Limited Holding company BVI 100% 100% Fortune Gold Mining Limited Holding company BVI 100% 100% Victor Resources Ltd. Holding company BVI 100% 100% Yangtze Mining Ltd. Holding company BVI 100% 100% Victor Mining Ltd. Holding company BVI 100% 100% Yangtze Mining (H.K.) Ltd. Holding company Hong Kong 100% 100% Fortune Gold Mining (H.K.) Limited Holding company Hong Kong 100% 100% Wonder Success Limited Holding company Hong Kong 100% 100% Henan Huawei Mining Co. Ltd. (“Henan Huawei”) Mining China 80% 80% Ying Mining District Henan Found Mining Co. Ltd. (“Henan Found”) Mining China 77.5% 77.5% Songxian Gold Mining Co., Ltd. (“SX Gold”) Mining China 0.0% 77.5% XHP Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (Guangdong Found”) Mining China 99% 99% GC (i) British Virgin Islands (“BVI”)
Schedule of Details of Company's Associate	Details of the Company s associate are as follows: Proportion of ownership interest held Country of March 31, March 31, Name of associate Principal activity incorporation 2020 2019 New Pacific Metals Corp. ("NUAG") Mining Canada 28.8% 29.6%
Schedule of Estimated Useful Lives	The significant classes of plant and equipment and their estimated useful lives are as follows: Buildings 20 years Office equipment 5 years Machinery 5-10 years Motor vehicles 5 years Land use rights 50 years Leasehold improvements 5 years

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of short-term investments [Abstract]
Schedule of Short-term Investments	As at March 31, 2020, short-term investments consist of the following: Carrying value Interest rates Maturity Bonds $ 23,313 6.00% - 13% April 2, 2020 - June 27, 2024 Money market instruments 53,429 $ 76,742 As at March 31, 2019, short-term investments consist of the following: Carrying value Interest rates Maturity Bonds $ 24,986 3.88% - 13% April 28, 2019 - April 29, 2026 Money market instruments 22,850 $ 47,836

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Mar. 31, 2020
Classes of current inventories [abstract]
Schedule of Inventories	Inventories consist of the following: March 31, 2020 March 31, 2019 Direct smelting ore and stockpile ore $ 1,138 $ 1,794 Concentrate inventory 4,368 5,201 Total stockpile and concentrate 5,506 6,995 Material and supplies 2,924 3,841 $ 8,430 $ 10,836

INVESTMENT IN AN ASSOCIATE (Tab

INVESTMENT IN AN ASSOCIATE (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of associates [abstract]
Schedule of Investment in Common Shares and Market Value as Balance Sheet Dates	The summary of the investment in NUAG common shares and its market value as at the respective balance sheet dates are as follows: Value of NUAG's Number of common shares per shares Amount quoted market price Balance April 1, 2018 39,280,900 $ 38,001 $ 50,266 Purchase from open market 65,400 107 Share of net loss (330 ) Share of other comprehensive income 398 Impairment recovery 1,899 Foreign exchange impact (1,372 ) Balance March 31, 2019 39,346,300 $ 38,703 $ 69,783 Purchase from open market 502,600 861 Exercise of warrants 1,500,000 2,349 Participation in public offering 1,247,606 3,820 Share of net loss (1,276 ) Share of other comprehensive income 1,077 Dilution gain 723 Disposal of common shares held by the associate 1,127 Foreign exchange impact (2,829 ) Balance March 31, 2020 42,596,506 $ 44,555 $ 148,624
Schedule of Financial Information for Investment	Summarized financial information for the Company&8217;s investment in NUAG on a 100% basis is as follows: Years ended March 31, 2020 (1) 2019 (1) Income from investments $ 494 $ 576 General and administrative expense (3,824 ) (2,286 ) Foreign exchange gain 669 542 Impairment charge (586 ) - Other income - 7 Net loss of associate $ (3,247 ) $ (1,161 ) Adjustments to net loss of associate (1,170 ) 23 Net loss of associate qualified for pick-up $ (4,417 ) $ (1,138 ) Company&8217;s share of net loss $ (1,276 ) $ (330 ) March 31, 2020 (1) March 31, 2019 (1) Current assets $ 29,012 $ 17,233 Non-current assets 74,989 62,568 Total assets $ 104,001 $ 79,801 Current liabilities 1,409 675 Long-term liabilities - 197 Total liabilities 1,409 872 Net assets $ 102,592 $ 78,929 Company&8217;s share of net assets of associate $ 29,575 $ 23,371 (1)

OTHER INVESTMENTS (Tables)

OTHER INVESTMENTS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of other investments [Abstract]
Schedule of Equity Investments Designated as Fvtoci	March 31, 2020 March 31, 2019 Equity investments designated as FVTOCI Public companies $ 6,633 $ 9,253 Private companies 2,117 - Total $ 8,750 $ 9,253
Schedule of Continuity of Investments	The continuity of such investments is as follows: Fair value Accumulated fair value change included in OCI April 1, 2018 $ 6,132 $ (37,508 ) Change in fair value on equity investments designated as FVTOCI 2,380 2,380 Acquisition of equity investments 1,018 - Impact of foreign currency translation (277 ) - March 31, 2019 $ 9,253 $ (35,128 ) Change in fair value on equity investments designated as FVTOCI 249 249 Acquisition of equity investments 7,851 - Proceeds on disposal (8,454 ) - Impact of foreign currency translation (149 ) - March 31, 2020 $ 8,750 $ (34,879 )

PLANT AND EQUIPMENT (Tables)

PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of Composition of Property and Equipment and Related Accumulated Depreciation	Plant and equipment consist of: Land use rights Office Motor Construction Cost and building equipment Machinery vehicles in progress Total Balance as at April 1, 2018 $ 105,165 $ 7,755 $ 29,413 $ 6,730 $ 3,602 $ 152,665 Additions 1,586 553 2,266 792 2,750 7,947 Disposals (316 ) (126 ) (505 ) (376 ) - (1,323 ) Reclassification of asset groups (1) 189 - 145 - (334 ) - Impact of foreign currency translation (6,596 ) (447 ) (1,867 ) (424 ) (228 ) (9,562 ) Balance as at March 31, 2019 $ 100,028 $ 7,735 $ 29,452 $ 6,722 $ 5,790 $ 149,727 Adjustment upon adoption of IFRS 16 360 - - - - 360 Additions 1,736 1,060 1,082 681 3,618 8,177 Disposals (6,932 ) (368 ) (3,265 ) (630 ) (52 ) (11,247 ) Reclassification of asset groups (1) 6,908 - 65 - (6,973 ) - Impact of foreign currency translation (5,646 ) (417 ) (1,534 ) (357 ) (247 ) (8,201 ) Ending balance as at March 31, 2020 $ 96,454 $ 8,010 $ 25,800 $ 6,416 $ 2,136 $ 138,816 Impairment, accumulated depreciation and amortization Balance as at April 1, 2018 $ (50,016 ) $ (5,312 ) $ (20,723 ) $ (5,345 ) $ (58 ) $ (81,454 ) Disposals 128 108 317 338 - 891 Depreciation and amortization (3,172 ) (500 ) (1,615 ) (347 ) - (5,634 ) Impact of foreign currency translation 3,131 295 1,320 337 4 5,087 Balance as at March 31, 2019 $ (49,929 ) $ (5,409 ) $ (20,701 ) $ (5,017 ) $ (54 ) $ (81,110 ) Disposals 6,821 278 3,051 574 52 10,776 Depreciation and amortization (3,481 ) (527 ) (1,601 ) (384 ) - (5,993 ) Impact of foreign currency translation 2,602 283 1,083 263 2 4,233 Ending balance as at March 31, 2020 $ (43,987 ) $ (5,375 ) $ (18,168 ) $ (4,564 ) $ - $ (72,094 ) Carrying amounts Balance as at March 31, 2019 $ 50,099 $ 2,326 $ 8,751 $ 1,705 $ 5,736 $ 68,617 Ending balance as at March 31, 2020 $ 52,467 $ 2,635 $ 7,632 $ 1,852 $ 2,136 $ 66,722 (1) Carrying amounts as at March 31, 2020 Ying Mining District BYP GC Other Total Land use rights and building $ 35,476 $ 3,094 $ 11,762 $ 2,135 $ 52,467 Office equipment 1,886 26 403 320 2,635 Machinery 5,734 258 1,640 - 7,632 Motor vehicles 1,598 22 232 - 1,852 Construction in progress 419 493 1,224 - 2,136 Total $ 45,113 $ 3,893 $ 15,261 $ 2,455 $ 66,722 Carrying amounts as at March 31, 2019 Ying Mining District BYP GC Other Total Land use rights and building $ 34,160 $ 2,158 $ 12,860 $ 921 $ 50,099 Office equipment 1,800 35 214 277 2,326 Machinery 6,294 257 2,071 129 8,751 Motor vehicles 1,521 27 140 17 1,705 Construction in progress 3,825 1,842 69 - 5,736 Total $ 47,600 $ 4,319 $ 15,354 $ 1,344 $ 68,617

MINERAL RIGHTS AND PROPERTIES (

MINERAL RIGHTS AND PROPERTIES (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of mineral rights and properties [Abstract]
Schedule of Mineral Rights and Properties	Mineral rights and properties consist of: Producing and development properties Exploration and evaluation properties Cost Ying Mining District BYP GC XHP RZY Total Balance as at April 1, 2018 $ 277,734 $ 65,054 $ 113,244 $ 22,024 $ 180 $ 478,236 Capitalized expenditures 23,238 189 1,014 261 - 24,702 Mine right fees 3,839 - - - - 3,839 Environmental rehabiliation 1,091 35 (12 ) 8 - 1,122 Foreign currecy translation impact (17,449 ) (973 ) (7,085 ) (1,384 ) (6 ) (26,897 ) Balance as at March 31, 2019 $ 288,453 $ 64,305 $ 107,161 $ 20,909 $ 174 $ 481,002 Capitalized expenditures 23,871 6 1,617 - - 25,494 Mine right fees 797 - - - - 797 Environmental rehabiliation (4,299 ) 39 239 - - (4,021 ) Disposition - - - (20,485 ) - (20,485 ) Foreign currecy translation impact (15,686 ) (778 ) (5,706 ) (424 ) (10 ) (22,604 ) Ending balance as at March 31, 2020 $ 293,136 $ 63,572 $ 103,311 $ - $ 164 $ 460,183 Impairment and accumulated depletion Balance as at April 1, 2018 $ (83,099 ) $ (57,584 ) $ (83,495 ) $ (21,798 ) $ (180 ) $ (246,156 ) Impairment reversal - - - 7,279 - 7,279 Depletion (13,312 ) - (2,209 ) - - (15,521 ) Foreign currecy translation impact 5,232 501 5,213 1,364 6 12,316 Balance as at March 31, 2019 $ (91,179 ) $ (57,083 ) $ (80,491 ) $ (13,155 ) $ (174 ) $ (242,082 ) Depletion (14,282 ) - (2,165 ) - - (16,447 ) Disposition - - - 12,888 - 12,888 Foreign currecy translation impact 5,071 395 4,301 267 10 10,044 Ending balance as at March 31, 2020 $ (100,390 ) $ (56,688 ) $ (78,355 ) $ - $ (164 ) $ (235,597 ) Carrying amounts Balance as at March 31, 2019 $ 197,274 $ 7,222 $ 26,670 $ 7,754 $ - $ 238,920 Ending balance as at March 31, 2020 $ 192,746 $ 6,884 $ 24,956 $ - $ - $ 224,586
Schedule of Assets and Liabilities Disposed	The transaction closed in July 2019 and the Company received partial payment of $6,146 (RMB¥42.5 million). The assets and liabilities disposed of are as follows: XHP Total consideration per share transfer agreement (RMB ¥50 million) $ 7,330 Less: amounts owed to Henan Found (1,112 ) Net consideration $ 6,218 Prepaids and deposits 124 Inventories 198 Plant and equipment 247 Mineral rights and properties 7,597 Accounts payable and accrued liabilities (2,211 ) Deposits received (925 ) Environmental rehabilitation (289 ) Total assets and liabilities disposed of $ 4,741 Gain on disposal of mineral rights and properties $ 1,477

BANK LOAN (Tables)

BANK LOAN (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of bank loan [Abstract]
Schedule of Bank Loan	Total Balance, April 1, 2018 $ - Addition 4,527 Interest accrued 152 Interest paid (144 ) Foreign exchange impact (60 ) Balance, March 31, 2019 $ 4,475 Interest accrued 45 Interest paid (50 ) Principal repayment (4,369 ) Foreign exchange impact (101 ) Balance, March 31, 2020 $ -

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Mar. 31, 2020
Presentation of leases for lessee [abstract]
Schedule of Lease Receivable and Lease Obligation	The following table summarizes changes in the Company s lease receivable and lease obligation related to the Company s office lease and associated sublease. Lease Receivable Lease Obligation Adjustment upon adoption of IFRS 16, April 1, 2019 $ 447 $ 1,463 Addition 238 1,239 Interest accrual 27 112 Interest received or paid (27 ) (112 ) Principal repayment (118 ) (503 ) Foreign exchange impact (33 ) (130 ) Balance, March 31, 2020 $ 534 $ 2,069 Less: current portion (186 ) (567 ) Non-current portion $ 348 $ 1,502
Shedule of Reconciliation of Company Undiscounted Cash Flows to Present Value	The following table presents a reconciliation of the Company s undiscounted cash flows to their present value for its lease receivable and lease obligation: Lease Receivable Lease Obligation Within 1 year $ 205 $ 613 Between 2 to 5 years 368 1,629 Over 5 years - 38 Total undiscounted amount $ 573 $ 2,280 Less future interest (39 ) (211 ) Total discounted amount $ 534 $ 2,069 Less: current portion (186 ) (567 ) Non-current portion $ 348 $ 1,502

ENVIRONMENTAL REHABILITATION (T

ENVIRONMENTAL REHABILITATION (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of environmental rehabilitation [Abstract]
Schedule of Reconciliation of Obligations Associated Retirement Properties	The following table presents the reconciliation of the beginning and ending obligations associated with the retirement of the properties: Total Balance, April 1, 2018 $ 13,098 Reclamation expenditures (187 ) Unwinding of discount of environmental rehabilitation 479 Revision of provision 1,122 Foreign exchange impact (824 ) Balance, March 31, 2019 $ 13,688 Reclamation expenditures (385 ) Unwinding of discount of environmental rehabilitation 422 Revision of provision (4,021 ) Derecognition upon disposal of SX Gold (289 ) Foreign exchange impact (715 ) Balance, March 31, 2020 $ 8,700

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of classes of share capital [abstract]
Schedule of Option Transactions	The following is a summary of option transactions: Weighted average exercise price per Number of shares share CAD$ Balance, April 1, 2018 8,146,799 $ 2.15 Option granted 1,815,000 3.10 Options exercised (2,812,496 ) 0.87 Options forfeited (164,075 ) 3.34 Options expired (504,312 ) 3.27 Balance, March 31, 2019 6,480,916 $ 2.86 Options exercised (3,833,406 ) 2.78 Options forfeited (123,750 ) 3.29 Options expired (100,000 ) 1.75 Balance, March 31, 2020 2,423,760 $ 3.00
Schedule of Information About Stock Options Outstanding	The following table summarizes information about stock options outstanding at March 31, 2020: Weighted average Weighted Number of options remaining Weighted average Number of options average Exercise price in outstanding at contractual life exercise price in exercisable at March exercise price CAD$ March 31, 2020 (Years) CAD$ 31, 2020 in CAD$ $ 1.43 201,260 0.17 $ 1.43 201,260 1.43 $ 2.60 565,000 1.63 $ 2.60 237,500 2.60 $ 3.23 561,250 0.95 $ 3.23 561,250 3.23 $ 3.36 402,500 0.51 $ 3.36 402,500 3.36 $ 3.40 693,750 1.40 $ 3.40 441,250 3.40 $ 1.43 - 3.40 2,423,760 1.10 $ 3.00 1,843,760 $ 3.02
Schedule of Summary of RSUs	The following is a summary of RSUs transactions: Weighted average grant date closing Number of shares price per share $CAD Balance, April 1, 2019 - $ - Granted 850,500 4.94 Cancelled (31,750 ) 4.94 Distributed (141,376 ) 4.94 Balance, March 31, 2020 677,374 $ 4.94
Schedule of Earnings Per Share Basic and Diluted	For the years ended March 31, 2020 2019 Income Shares Per-Share Income Shares Per-Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income attributable to equity holders of the Company $ 34,274 $ 39,724 Basic earnings per share 34,274 171,713,263 $ 0.20 39,724 168,483,412 $ 0.24 Effect of dilutive securities: Stock options 2,366,124 1,903,581 Diluted earnings per share $ 34,274 174,079,387 $ 0.20 $ 39,724 170,386,993 $ 0.23

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of analysis of other comprehensive income by item [abstract]
Schedule of Accumulated Other Comprehensive loss	March 31, 2020 March 31, 2019 Change in fair value on equity investments designated as FVTOCI $ 34,879 $ 35,128 Share of other comprehensive income in associate (1,735 ) (679 ) Currency translation adjustment 28,445 7,415 Balance, end of the year $ 61,589 $ 41,864

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of non-controlling interests [Abstract]
Schedule of Non-controlling Interests	The continuity of non-controlling interests is summarized as follows: Henan Henan Guangdong Found Huawei Yunxiang Found Total Balance, April 1, 2018 $ 62,047 $ 5,909 $ 3,532 $ (2,545 ) $ 68,943 Share of net income (loss) 11,444 892 (365 ) 352 12,323 Share of other comprehensive (loss) income (3,664 ) (204 ) (150 ) 954 (3,064 ) Distributions (11,565 ) (1,694 ) - - (13,259 ) Acquisition of non-controlling interest - - - 1,794 1,794 Disposition - - - (1,002 ) (1,002 ) Balance, March 31, 2019 $ 58,262 $ 4,903 $ 3,017 $ (447 ) $ 65,735 Share of net income (loss) 10,440 664 (221 ) 46 10,929 Share of other comprehensive loss (2,768 ) (209 ) (73 ) (65 ) (3,115 ) Distributions (2,603 ) (656 ) - - (3,259 ) Balance, March 31, 2020 $ 63,331 $ 4,702 $ 2,723 $ (466 ) $ 70,290

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of transactions between related parties [abstract]
Schedule of Related Party Transactions	Related party transactions not disclosed elsewhere in the consolidated financial statements are as follows: Due from related parties March 31, 2020 March 31, 2019 NUAG (a) $ 94 $ 33 Henan Non-ferrous (b) 1,425 2,989 $ 1,519 $ 3,022 (a) The Company recovers costs for services rendered to NUAG and expenses incurred on behalf of NUAG pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2020, the Company recovered $530 (year ended March 31, 2019 - $225), from NUAG for services rendered and expenses incurred on behalf of NUAG. The costs recovered from NUAG were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income. (b) In March 2019, Henan Found advanced a loan of $2,989 (RMB¥20 million) to Henan Non-ferrous. The loan bears an interest rate of 4.35% per annum. In December 2019, the loan, including accumulated interest, of $2,922 (RMB¥20.7 million) was repaid.
Schedule of Compensation of Key Management Personnel	The remuneration of directors and other members of key management personnel, who are those having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, for the years ended March 31, 2020 and 2019 were as follows: Years Ended March 31, 2020 2019 Directors’ fees and bonus $ 293 $ 256 Salaries and bonus for key management personnel 2,519 2,498 Share-based compensation 1,487 725 $ 4,299 $ 3,479

GENERAL AND ADMINISTRATIVE (Tab

GENERAL AND ADMINISTRATIVE (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of general and administrative expense [Abstract]
Schedule of General and Administrative Expenses Consist	Year ended March 31, 2020 Year ended March 31, 2019 Corporate Mines Total Corporate Mines Total Amortization and depreciation $ 447 $ 1,511 $ 1,958 $ 162 $ 1,091 $ 1,253 Office and administrative expenses 2,304 2,881 5,185 2,741 3,160 5,901 Professional fees 562 481 1,043 440 426 866 Salaries and benefits 4,245 5,183 9,428 4,319 4,889 9,208 Share-based compensation 2,536 - 2,536 1,813 - 1,813 $ 10,094 $ 10,056 $ 20,150 $ 9,475 $ 9,566 $ 19,041

GOVERNMENT FEES AND OTHER TAX_2

GOVERNMENT FEES AND OTHER TAXES (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of government fees and other taxes [Abstract]
Schedule of Government Fees and Other Taxes Consist	Year ended March 31, 2020 2019 Government fees $ 210 $ 162 Other taxes 1,905 2,537 $ 2,115 $ 2,699

FINANCE ITEMS (Tables)

FINANCE ITEMS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of finance items [Abstract]
Schedule of Finance Items Consist	Finance items consist of: Year ended March 31, Finance income 2020 2019 Interest income $ 4,023 $ 3,476 Year ended March 31, Finance costs 2020 2019 Interest on bank loan $ 45 $ 152 Interest on lease obligation 112 - Loss on disposal of bonds 1,494 - Unwinding of discount of environmental rehabilitation provision 422 479 $ 2,073 $ 631

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Mar. 31, 2020
Major components of tax expense (income) [abstract]
Schedule of Income Tax Expense Recognized	The significant components of income tax expense recognized in the statements of income are as follows: Year ended March 31, Income tax expense 2020 2019 Current $ 5,613 $ 17,750 Deferred 3,296 3,121 $ 8,909 $ 20,871
Schedule of Reconciliation of Effective Statutory Income Tax Rates	The reconciliation of the Canadian statutory income tax rates to the effective tax rate is as follows: Years ended March, 31 2020 2019 Canadian statutory tax rate 27.00 % 27.00 % Income before income taxes $ 54,112 $ 72,918 Income tax expense computed at Canadian statutory rates 14,610 19,688 Foreign tax rates different from statutory rate (2,255 ) (1,707 ) Permanent items 760 (444 ) Withholding taxes 2,782 5,153 Change in unrecognized deferred tax assets (6,988 ) (1,819 ) Income tax expense $ 8,909 $ 20,871
Schedule of Deferred Income Tax Assets (liabilities)	The continuity of deferred income tax assets (liabilities) is summarized as follows: Years ended March, 31 2020 2019 Net deferred income tax liabilities, beginning of the year $ (34,334 ) $ (33,310 ) Deferred income tax expense recognized in net income for the year (3,296 ) (3,121 ) Foreign exchange impact 1,872 2,097 Net deferred income tax liabilities, end of the year $ (35,758 ) $ (34,334 )
Schedule of Deferred Income Tax	The significant components of the Company s deferred income tax are as follows: March 31, 2020 March 31, 2019 Deferred income tax assets Plant and equipment $ 1,001 $ 880 Environmental rehabilitation 1,948 3,155 Other deductible temporary difference 519 454 Total deferred income tax assets 3,468 4,489 Deferred income tax liabilities Plant and equipment (1,258 ) (829 ) Mineral rights and properties (37,601 ) (37,465 ) Unrealized gain on investments (65 ) (365 ) Other taxable temporary difference (302 ) (164 ) Total deferred income tax liabilities (39,226 ) (38,823 ) Net deferred income tax liabilities $ (35,758 ) $ (34,334 )
Schedule of Temporary Differences and Unused Tax Losses	Deferred tax assets are recognized to the extent that the realization of the related tax benefit through future taxable profits is probable. The ability to realize the tax benefits is dependent upon numerous factors, including the future profitability of operations in the jurisdictions in which the tax benefits arose. Deductible temporary differences and unused tax losses for which no deferred tax assets have been recognized are attributable to the following: March 31, 2020 March 31, 2019 Non-capital loss carry forward $ 63,355 $ 77,620 Plant and equipment 14,460 25,765 Mineral rights and properties 5,072 4,378 Other deductible temporary difference 11,819 12,225 $ 94,706 $ 119,988
Schedule of Net Operating Losses Expiring in Various Years	As at March 31, 2020, the Company has the following net operating losses, expiring in various years to 2041 and available to offset future taxable income in Canada and China, respectively. Canada China Total 2021 $ - $ 1,073 $ 1,073 2022 - 1,424 1,424 2023 - 1,031 1,031 2024 - 1,225 1,225 2027 1,171 1,876 3,047 2030 3,506 - 3,506 2031 6,004 - 6,004 2032 8,713 - 8,713 2033 8,967 - 8,967 2034 7,047 - 7,047 2035 6,400 - 6,400 2036 2,880 - 2,880 2037 516 - 516 2038 2,251 - 2,251 2039 2,543 - 2,543 2040 1,898 - 1,898 2041 4,830 - 4,830 $ 56,726 $ 6,629 $ 63,355

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Schedule of Financial Assets Measured at Fair Value Level On Recurring Basis	The following tables set forth the Company s financial assets and liabilities that are measured at fair value level on a recurring basis within the fair value hierarchy as at March 31, 2020 and March 31, 2019 that are not otherwise disclosed. The assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair value as at March 31, 2020 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 65,777 $ - $ - $ 65,777 Short-term investments - money market instruments 53,430 - - 53,430 Investments in public companies 6,633 - - 6,633 Investments in private company - - 2,117 2,117 Fair value as at March 31, 2019 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 67,441 $ - $ - $ 67,441 Short-term investments - money market instruments 22,850 - - 22,850 Investments in public companies 9,253 - - 9,253
Schedule of Remaining Contractual Maturities of Financial Liabilities	In the normal course of business, the Company enters into contracts that give rise to commitments for future minimum payments. The following summarizes the remaining contractual maturities of the Company s financial liabilities. March 31, 2020 March 31, 2019 Within a year 2-5 years Over 5 years Total Total Bank loan $ - $ - $ - $ - $ 4,475 Accounts payable and accrued liabilities 23,129 - - 23,129 29,856 Lease obligation 567 1,464 38 2,069 - $ 23,696 $ 1,464 $ 38 $ 25,198 $ 34,331
Schedule of Currency Risk Affect Net Income	The Company currently does not engage in foreign exchange currency hedging. The Company&8217;s exposure to currency risk affect net income is summarized as follows: March 31, 2020 March 31, 2019 Financial assets denominated in U.S. Dollars $ 60,534 $ 45,912

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
	Mar. 31, 2020
Disclosure of operating segments [abstract]
Schedule of Segment Information for Assets and Liabilities	Segmented information for assets and liabilities are as follows: March 31, 2020 Mining Administrative Henan Total Statement of financial position items: Luoning Hunan Guangdong Other Beijing Vancouver Current assets $ 80,160 $ 1,467 $ 3,665 $ - $ 4,289 $ 68,598 $ 158,179 Plant and equipment 45,113 3,893 15,261 - 862 1,593 66,722 Mineral rights and properties 192,746 6,884 24,956 - - - 224,586 Investment in an associate - - - - - 44,555 44,555 Other investments 2,117 - - - - 6,633 8,750 Reclamation deposits 5,043 - 4,180 - - 7 9,230 Long-term prepaids and deposits 205 99 86 - - - 390 Long-term portion of lease receivable - - - - - 348 348 Total assets $ 325,384 $ 12,343 $ 48,148 $ - $ 5,151 $ 121,734 $ 512,760 Current liabilities $ 19,495 $ 1,322 $ 3,154 $ - $ 625 $ 3,232 $ 27,828 Long-term portion of lease obligation - - - - - 1,502 1,502 Deferred income tax liabilities 34,761 997 - - - - 35,758 Environmental rehabilitation 6,775 1,015 910 - - - 8,700 Total liabilities $ 61,031 $ 3,334 $ 4,064 $ - $ 625 $ 4,734 $ 73,788 March 31, 2019 Mining Administrative Henan Total Statement of financial position items: Luoning Hunan Guangdong Other Beijing Vancouver Current assets $ 66,992 $ 1,540 $ 11,870 $ 529 $ 5,435 $ 48,495 $ 134,861 Plant and equipment 47,600 4,319 15,354 255 932 157 68,617 Mineral rights and properties 197,274 7,222 26,670 7,754 - - 238,920 Investment in an associate - - - - - 38,703 38,703 Other investments - - - - - 9,253 9,253 Reclamation deposits 5,330 - 2,616 - - 7 7,953 Long-term prepaids and deposits 369 104 170 126 - - 769 Total assets $ 317,565 $ 13,185 $ 56,680 $ 8,664 $ 6,367 $ 96,615 $ 499,076 Current liabilities $ 27,000 $ 1,391 $ 4,036 $ 2,548 $ 1,102 $ 1,796 $ 37,873 Deferred income tax liabilities 33,337 997 - - - - 34,334 Environmental rehabilitation 11,623 998 774 293 - - 13,688 Total liabilities $ 71,960 $ 3,386 $ 4,810 $ 2,841 $ 1,102 $ 1,796 $ 85,895
Schedule of Segment Information for Operating Results	Segmented information for operating results are as follows: Year ended March 31, 2020 Mining Administrative Henan Total Statement of income: Luoning Hunan (1) Guangdong Other Beijing Vancouver Sales $ 131,434 $ - $ 27,395 $ - $ - $ - $ 158,829 Costs of mine operations (77,337 ) (403 ) (21,689 ) - (26 ) - (99,455 ) Income from mine operations 54,097 (403 ) 5,706 - (26 ) - 59,374 Operating income (expenses) 333 (134 ) (178 ) (60 ) (1,590 ) (5,583 ) (7,212 ) Finance items, net 1,366 (147 ) 136 - 133 462 1,950 Income tax expenses (5,013 ) (53 ) (1,060 ) - (1 ) (2,782 ) (8,909 ) Net income (loss) $ 50,783 $ (737 ) $ 4,604 $ (60 ) $ (1,484 ) $ (7,903 ) $ 45,203 Attributable to: Equity holders of the Company 39,679 (516 ) 4,558 (60 ) (1,484 ) (7,903 ) 34,274 Non-controlling interests 11,104 (221 ) 46 - - - 10,929 Net income (loss) $ 50,783 $ (737 ) $ 4,604 $ (60 ) $ (1,484 ) $ (7,903 ) $ 45,203 (1) Year ended March 31, 2019 Mining Administrative Henan Total Statement of income: Luoning Hunan Guangdong Other Beijing Vancouver Sales $ 141,483 $ - $ 29,036 $ - $ - $ - $ 170,519 Costs of mine operations (76,276 ) (855 ) (21,566 ) (854 ) (36 ) - (99,587 ) Income from mine operations 65,207 (855 ) 7,470 (854 ) (36 ) - 70,932 Operating (expenses) income (858 ) (106 ) (344 ) 44 (1,555 ) (7,218 ) (10,037 ) Impairment recovery, net - - - 7,279 - 1,899 9,178 Finance items, net 1,131 (127 ) 51 (11 ) 145 1,656 2,845 Income tax expenses (15,588 ) (128 ) - - (2 ) (5,153 ) (20,871 ) Net income (loss) $ 49,892 $ (1,216 ) $ 7,177 $ 6,458 $ (1,448 ) $ (8,816 ) $ 52,047 Attributable to: Equity holders of the Company 39,008 (851 ) 6,825 5,006 (1,448 ) (8,816 ) 39,724 Non-controlling interests 10,884 (365 ) 352 1,452 - - 12,323 Net income (loss) $ 49,892 $ (1,216 ) $ 7,177 $ 6,458 $ (1,448 ) $ (8,816 ) $ 52,047
Schedule of Sales by Metal	The sales generated for the years ended March 31, 2019 and 2018 were all earned in China and are comprised of: Year ended March 31, 2020 Henan Luoning Guangdong Total Silver (Ag) $ 77,617 $ 7,255 $ 84,872 Gold (Au) 3,911 - 3,911 Lead (Pb) 43,312 8,654 51,966 Zinc (Zn) 4,911 10,869 15,780 Other 1,683 617 2,300 $ 131,434 $ 27,395 $ 158,829 Year ended March 31, 2019 Henan Luoning Guangdong Total Silver (Ag) $ 74,702 $ 5,952 $ 80,654 Gold (Au) 3,642 - 3,642 Lead (Pb) 55,739 8,372 64,111 Zinc (Zn) 6,305 14,349 20,654 Other 1,095 363 1,458 $ 141,483 $ 29,036 $ 170,519

SUPPLEMENTARY CASH FLOW INFOR_2

SUPPLEMENTARY CASH FLOW INFORMATION (Tables)	12 Months Ended
	Mar. 31, 2020
Supplementary Cash Flow Information Schedule Of Change In Non-cash Operating Working Capital
Schedule of Cash and Cash Equivalents	March 31, 2020 March 31, 2019 Cash on hand and at bank $ 65,251 $ 67,215 Bank term deposits and GICs 526 226 Total cash and cash equivalents $ 65,777 $ 67,441
Schedule of Change in Non-cash Operating Working Capital	Changes in non-cash operating working capital: Years Ended March 31, 2020 2019 Trade and other receivables $ 330 $ 169 Inventories 1,798 (606 ) Prepaids and deposits 184 500 Accounts payable and accrued liabilities (1,616 ) 3,962 Deposits received 1,236 (3,343 ) Due from a related party (170 ) (23 ) $ 1,762 $ 659

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Line Items [Line Items]
Additional lease receivable		$ 447
Right of use asset		360
Lease obligation	$ 2,069	$ 1,463
Retained earnings	(823)
Accumulated other comprehensive income	$ 167
Bottom of Range [Member]
Statement Line Items [Line Items]
Percentage of voting rights	20.00%
Top of Range [Member]
Statement Line Items [Line Items]
Percentage of voting rights	50.00%

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Details of Company's Significant Subsidiaries) (Details)		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Subsidiary One [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Silvercorp Metals China Inc.
Principal activity		Holding company
Place of incorporation		Canada
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Two [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Silvercorp Metals (China) Inc.
Principal activity		Holding company
Place of incorporation		China
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Three [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		0875786 B.C. LTD.
Principal activity		Holding company
Place of incorporation		Canada
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Four [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Fortune Mining Limited
Principal activity		Holding company
Place of incorporation	[1]	BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Five [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Fortune Copper Limited
Principal activity		Holding company
Place of incorporation		BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Six [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Fortune Gold Mining Limited
Principal activity		Holding company
Place of incorporation		BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Seven [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Victor Resources Ltd.
Principal activity		Holding company
Place of incorporation		BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Eight [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Yangtze Mining Ltd.
Principal activity		Holding company
Place of incorporation		BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Nine [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Victor Mining Ltd.
Principal activity		Holding company
Place of incorporation		BVI
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Ten [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Yangtze Mining (H.K.) Ltd.
Principal activity		Holding company
Place of incorporation		Hong Kong
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Eleven [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Fortune Gold Mining (H.K.) Limited
Principal activity		Holding company
Place of incorporation		Hong Kong
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Twelve [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Wonder Success Limited
Principal activity		Holding company
Place of incorporation		Hong Kong
Proportion of ownership interest held		100.00%	100.00%
Subsidiary Thirteen [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Henan Huawei Mining Co. Ltd. ("Henan Huawei")
Principal activity		Mining
Place of incorporation		China
Proportion of ownership interest held		80.00%	80.00%
Subsidiary Fourteen [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Henan Found Mining Co. Ltd. ("Henan Found")
Principal activity		Mining
Place of incorporation		China
Proportion of ownership interest held		77.50%	77.50%
Mineral properties		Ying Mining District
Subsidiary Fifteen [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Songxian Gold Mining Co., Ltd. ("SX Gold")
Principal activity		Mining
Place of incorporation		China
Proportion of ownership interest held		0.00%	77.50%
Mineral properties		XHP
Subsidiary Sixteen [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Xinshao Yunxiang Mining Co., Ltd. ("Yunxiang")
Principal activity		Mining
Place of incorporation		China
Proportion of ownership interest held		70.00%	70.00%
Mineral properties		BYP
Subsidiary Seventeen [Member]
Disclosure of subsidiaries [line items]
Name of subsidiaries		Guangdong Found Mining Co. Ltd. (Guangdong Found")
Principal activity		Mining
Place of incorporation		China
Proportion of ownership interest held		99.00%	99.00%
Mineral properties		GC
[1]	British Virgin Islands ("BVI")

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Details of Company's Associate) (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of associates [line items]
Proportion of ownership interest held	28.80%	29.60%
Associates [Member]
Disclosure of associates [line items]
Name of associate	New Pacific Metals Corp. ("NUAG")
Principal activity	Mining
Place of incorporation	Canada
Proportion of ownership interest held	28.80%	29.60%

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Estimated Useful Lives) (Details)	12 Months Ended
	Mar. 31, 2020
Buildings [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	20 years
Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5-10 years
Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years
Land use rights [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	50 years
Leasehold improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	5 years

SHORT-TERM INVESTMENTS (Schedul

SHORT-TERM INVESTMENTS (Schedule of Short-term Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of fair value measurement of assets [line items]
Carrying value	$ 76,742	$ 47,836
Bonds [Member]
Disclosure of fair value measurement of assets [line items]
Carrying value	$ 23,313	$ 24,986
Maturity	April 2, 2020 - June 27, 2024	April 28, 2019 - April 29, 2026
Bonds [Member] | Bottom of Range [Member]
Disclosure of fair value measurement of assets [line items]
Interest rates	6.00%	3.88%
Bonds [Member] | Top of Range [Member]
Disclosure of fair value measurement of assets [line items]
Interest rates	13.00%	13.00%
Money market instruments [Member]
Disclosure of fair value measurement of assets [line items]
Carrying value	$ 53,429	$ 22,850

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Classes of current inventories [abstract]
Amount of inventories recognized as expense	$ 82,744	$ 82,458

INVENTORIES (Schedule of Invent

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Classes of current inventories [abstract]
Direct smelting ore and stockpile ore	$ 1,138	$ 1,794
Concentrate inventory	4,368	5,201
Total stockpile and concentrate	5,506	6,995
Material and supplies	2,924	3,841
Total inventories	$ 8,430	$ 10,836

INVESTMENT IN AN ASSOCIATE (Nar

INVESTMENT IN AN ASSOCIATE (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	May 22, 2019	Nov. 30, 2017	Mar. 31, 2020	Mar. 31, 2019
Disclosure of associates [line items]
Proportion of ownership interest held			28.80%	29.60%
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of associates [line items]
Warrant exercised	1,500,000
Proceeds from warrant	$ 2,349
Gain on dilution		$ 723
Reclassification of loss from other comprehensive inome		$ 21
New Pacific Metals Corp ("NUAG") [Member] | Top of Range [Member]
Disclosure of associates [line items]
Percentage of ownership diluted	29.80%
New Pacific Metals Corp ("NUAG") [Member] | Bottom of Range [Member]
Disclosure of associates [line items]
Percentage of ownership diluted	28.90%
Pan American Silver Corp [Member]
Disclosure of associates [line items]
Warrant exercised	8,000,000

INVESTMENT IN AN ASSOCIATE (Sch

INVESTMENT IN AN ASSOCIATE (Schedule of Investment in Common Shares and Market Value as Balance Sheet Dates) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Disclosure of associates [line items]
Balance		$ 38,703
Share of other comprehensive income		1,735	$ 679
Dilution gain		723
Disposal of common shares held by the associate		1,127
Foreign exchange impact		4,103	1,361
Balance		44,555	38,703
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of associates [line items]
Balance		$ 38,703	$ 38,001
Balance, Shares		39,346,300	39,280,900
Purchase from open market		$ 861	$ 107
Purchase from open market, shares		502,600	65,400
Exercise of warrants		$ 2,349
Exercise of warrants, shares		1,500,000
Participation in public offering		$ 3,820
Participation in public offering, shares		1,247,606
Share of net loss	[1]	$ (1,276)	$ (330)
Share of other comprehensive income		1,077	398
Impairment recovery			1,899
Dilution gain		723
Disposal of common shares held by the associate		1,127
Foreign exchange impact		(2,829)	(1,372)
Balance		$ 44,555	$ 38,703
Balance, Shares		42,596,506	39,346,300
Value of Common shares per quoted market price, Begining		$ 69,783	$ 50,266
Value of Common shares per quoted market price, Ending		$ 148,624	$ 69,783
[1]	NUAG's fiscal year-end is on June 30. NUAG's quarterly financial results were used to compile the financial information that matched with the Company's year-end on March 31.

INVESTMENT IN AN ASSOCIATE (S_2

INVESTMENT IN AN ASSOCIATE (Schedule of Financial Information for Investment) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Disclosure of associates [line items]
Income from investments		$ 158,829	$ 170,519
General and administrative expense		(20,150)	(19,041)
Net loss of associate qualified for pick-up		45,203	52,047
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of associates [line items]
Income from investments	[1]	494	576
General and administrative expense	[1]	(3,824)	(2,286)
Foreign exchange gain	[1]	669	542
Impairment charge	[1]	(586)
Other income	[1]		7
Net loss of associate	[1]	(3,247)	(1,161)
Adjustments to net loss of associate	[1]	(1,170)	23
Net loss of associate qualified for pick-up	[1]	(4,417)	(1,138)
Company's share of net loss	[1]	$ (1,276)	$ (330)
[1]	NUAG's fiscal year-end is on June 30. NUAG's quarterly financial results were used to compile the financial information that matched with the Company's year-end on March 31.

INVESTMENT IN AN ASSOCIATE (S_3

INVESTMENT IN AN ASSOCIATE (Schedule of Consolidated Financial Statements) (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Mar. 31, 2019
Disclosure of associates [line items]
Current assets		$ 158,179	$ 134,861
TOTAL ASSETS		512,760	499,076
Current liabilities		27,828	37,873
Total Liabilities		73,788	85,895
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of associates [line items]
Current assets	[1]	29,012	17,233
Non-current assets	[1]	74,989	62,568
TOTAL ASSETS	[1]	104,001	79,801
Current liabilities	[1]	1,409	675
Long-term liabilities	[1]		197
Total Liabilities	[1]	1,409	872
Net assets	[1]	102,592	78,929
Company's share of net assets of associate	[1]	$ 29,575	$ 23,371
[1]	NUAG's fiscal year-end is on June 30. NUAG's quarterly financial results were used to compile the financial information that matched with the Company's year-end on March 31.

OTHER INVESTMENTS (Schedule of

OTHER INVESTMENTS (Schedule of Equity Investments Designated as FVTOCI) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Equity investments designated as FVTOCI	$ 8,750	$ 9,253
Public companies [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Equity investments designated as FVTOCI	6,633	9,253
Private companies [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Equity investments designated as FVTOCI	$ 2,117

OTHER INVESTMENTS (Schedule o_2

OTHER INVESTMENTS (Schedule of Continuity of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Change in fair value on equity investments designated as FVTOCI	$ 34,879	$ 35,128
Proceeds on disposal	(8,454)
Impact of foreign currency translation	(28,445)	(7,415)
Fair value [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Beginning	9,253	6,132
Change in fair value on equity investments designated as FVTOCI	249	2,380
Acquisition of equity investments	7,851	1,018
Proceeds on disposal	(8,454)
Impact of foreign currency translation	(149)	(277)
Ending	8,750	9,253
Accumulated fair value change included in OCI [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Beginning	(35,128)	(37,508)
Change in fair value on equity investments designated as FVTOCI	249	2,380
Acquisition of equity investments
Proceeds on disposal
Impact of foreign currency translation
Ending	$ (34,879)	$ (35,128)

PLANT AND EQUIPMENT (Narrative)

PLANT AND EQUIPMENT (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Proceeds on disposals	$ 10	$ 31
Loss on disposal of plant and equipment	$ 461	$ 401

PLANT AND EQUIPMENT (Schedule o

PLANT AND EQUIPMENT (Schedule of Composition of Property and Equipment and Related Accumulated Depreciation) (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		$ 68,617
Adjustment upon adoption of IFRS 16		(656)
Balance at end of year		66,722	$ 68,617
Land use rights and building [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		50,099
Balance at end of year		52,467	50,099
Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		2,326
Balance at end of year		2,635	2,326
Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		8,751
Balance at end of year		7,632	8,751
Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		1,705
Balance at end of year		1,852	1,705
Construction in progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		5,736
Balance at end of year		2,136	5,736
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		149,727	152,665
Adjustment upon adoption of IFRS 16		360
Additions		8,177	7,947
Disposals		(11,247)	(1,323)
Reclassification of asset groups	[1]
Impact of foreign currency translation		(8,201)	(9,562)
Balance at end of year		138,816	149,727
Cost [Member] | Land use rights and building [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		100,028	105,165
Adjustment upon adoption of IFRS 16		360
Additions		1,736	1,586
Disposals		(6,932)	(316)
Reclassification of asset groups	[1]	6,908	189
Impact of foreign currency translation		(5,646)	(6,596)
Balance at end of year		96,454	100,028
Cost [Member] | Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		7,735	7,755
Adjustment upon adoption of IFRS 16
Additions		1,060	553
Disposals		(368)	(126)
Reclassification of asset groups	[1]
Impact of foreign currency translation		(417)	(447)
Balance at end of year		8,010	7,735
Cost [Member] | Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		29,452	29,413
Adjustment upon adoption of IFRS 16
Additions		1,082	2,266
Disposals		(3,265)	(505)
Reclassification of asset groups	[1]	65	145
Impact of foreign currency translation		(1,534)	(1,867)
Balance at end of year		25,800	29,452
Cost [Member] | Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		6,722	6,730
Adjustment upon adoption of IFRS 16
Additions		681	792
Disposals		(630)	(376)
Reclassification of asset groups	[1]
Impact of foreign currency translation		(357)	(424)
Balance at end of year		6,416	6,722
Cost [Member] | Construction in progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		5,790	3,602
Adjustment upon adoption of IFRS 16
Additions		3,618	2,750
Disposals		(52)
Reclassification of asset groups	[1]	(6,973)	(334)
Impact of foreign currency translation		(247)	(228)
Balance at end of year		2,136	5,790
Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(81,110)	(81,454)
Disposals		10,776	891
Depreciation and amortization		(5,993)	(5,634)
Impact of foreign currency translation		4,233	5,087
Balance at end of year		(72,094)	(81,110)
Accumulated depreciation [member] | Land use rights and building [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(49,929)	(50,016)
Disposals		6,821	128
Depreciation and amortization		(3,481)	(3,172)
Impact of foreign currency translation		2,602	3,131
Balance at end of year		(43,987)	(49,929)
Accumulated depreciation [member] | Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(5,409)	(5,312)
Disposals		278	108
Depreciation and amortization		(527)	(500)
Impact of foreign currency translation		283	295
Balance at end of year		(5,375)	(5,409)
Accumulated depreciation [member] | Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(20,701)	(20,723)
Disposals		3,051	317
Depreciation and amortization		(1,601)	(1,615)
Impact of foreign currency translation		1,083	1,320
Balance at end of year		(18,168)	(20,701)
Accumulated depreciation [member] | Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(5,017)	(5,345)
Disposals		574	338
Depreciation and amortization		(384)	(347)
Impact of foreign currency translation		263	337
Balance at end of year		(4,564)	(5,017)
Accumulated depreciation [member] | Construction in progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		(54)	(58)
Disposals		52
Depreciation and amortization
Impact of foreign currency translation		2	4
Balance at end of year			(54)
Carrying amounts [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		68,617
Balance at end of year		66,722	68,617
Carrying amounts [Member] | Land use rights and building [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		50,099
Balance at end of year		52,467	50,099
Carrying amounts [Member] | Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		2,326
Balance at end of year		2,635	2,326
Carrying amounts [Member] | Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		8,751
Balance at end of year		7,632	8,751
Carrying amounts [Member] | Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		1,705
Balance at end of year		1,852	1,705
Carrying amounts [Member] | Construction in progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning year		5,736
Balance at end of year		$ 2,136	$ 5,736
[1]	when an asset is available for use, it is reclassified from construction in progress to one of the appropriate plant and equipment categories.

PLANT AND EQUIPMENT (Schedule_2

PLANT AND EQUIPMENT (Schedule of Composition of Carrying Amounts ) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	$ 66,722	$ 68,617
Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	45,113	47,600
BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	3,893	4,319
GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	15,261	15,354
Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	2,455	1,344
Land use rights and building [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	52,467	50,099
Land use rights and building [Member] | Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	35,476	34,160
Land use rights and building [Member] | BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	3,094	2,158
Land use rights and building [Member] | GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	11,762	12,860
Land use rights and building [Member] | Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	2,135	921
Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	2,635	2,326
Office equipment [Member] | Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	1,886	1,800
Office equipment [Member] | BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	26	35
Office equipment [Member] | GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	403	214
Office equipment [Member] | Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	320	277
Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	7,632	8,751
Machinery [Member] | Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	5,734	6,294
Machinery [Member] | BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	258	257
Machinery [Member] | GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	1,640	2,071
Machinery [Member] | Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment		129
Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	1,852	1,705
Motor vehicles [Member] | Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	1,598	1,521
Motor vehicles [Member] | BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	22	27
Motor vehicles [Member] | GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	232	140
Motor vehicles [Member] | Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment		17
Construction in progress [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	2,136	5,736
Construction in progress [Member] | Ying Mining District [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	419	3,825
Construction in progress [Member] | BYP [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	493	1,842
Construction in progress [Member] | GC [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment	1,224	69
Construction in progress [Member] | Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Plant and equipment

MINERAL RIGHTS AND PROPERTIES_2

MINERAL RIGHTS AND PROPERTIES (Narrative) (Details) ¥ in Thousands, $ in Thousands	1 Months Ended							12 Months Ended
	Nov. 30, 2019USD ($)	Nov. 30, 2019CNY (¥)	Jul. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Apr. 30, 2019CNY (¥)	Mar. 31, 2019USD ($)	Mar. 31, 2019CNY (¥)	Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Mine right fees | $	$ 796					$ 3,839
Proportion of ownership interest held								28.80%	29.60%
RMB [Member]
Disclosure of detailed information about intangible assets [line items]
Mine right fees | ¥		¥ 5,500					¥ 25,700
XHP Project [Member]
Disclosure of detailed information about intangible assets [line items]
Proportion of ownership interest held				100.00%	100.00%
Equity method investment | $			$ 7,330	$ 7,300
Payment received | $				6,146
Forgave amount owned | $			$ (1,112)	$ 1,100
XHP Project [Member] | RMB [Member]
Disclosure of detailed information about intangible assets [line items]
Equity method investment | ¥					¥ 50,000
Payment received | ¥					42,500
Forgave amount owned | ¥					¥ 7,500

MINERAL RIGHTS AND PROPERTIES_3

MINERAL RIGHTS AND PROPERTIES (Schedule of Mineral Rights and Properties) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Mine right fees	$ 796	$ 3,839
Cost [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			$ 481,002	$ 478,236
Capitalized expenditures			25,494	24,702
Mine right fees			797	3,839
Environmental rehabiliation			(4,021)	1,122
Disposition			(20,485)
Foreign currecy translation impact			(22,604)	(26,897)
Balance at end of year		481,002	460,183	481,002
Cost [Member] | Producing and development properties YMD [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			288,453	277,734
Capitalized expenditures			23,871	23,238
Mine right fees			797	3,839
Environmental rehabiliation			(4,299)	1,091
Disposition
Foreign currecy translation impact			(15,686)	(17,449)
Balance at end of year		288,453	293,136	288,453
Cost [Member] | Producing and development properties BYP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			64,305	65,054
Capitalized expenditures			6	189
Mine right fees
Environmental rehabiliation			39	35
Disposition
Foreign currecy translation impact			(778)	(973)
Balance at end of year		64,305	63,572	64,305
Cost [Member] | Producing and development properties GC [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			107,161	113,244
Capitalized expenditures			1,617	1,014
Mine right fees
Environmental rehabiliation			239	(12)
Disposition
Foreign currecy translation impact			(5,706)	(7,085)
Balance at end of year		107,161	103,311	107,161
Cost [Member] | Exploration and evaluation properties XHP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			20,909	22,024
Capitalized expenditures				261
Mine right fees
Environmental rehabiliation				8
Disposition			(20,485)
Foreign currecy translation impact			(424)	(1,384)
Balance at end of year		20,909		20,909
Cost [Member] | Exploration and evaluation properties RZY [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			174	180
Capitalized expenditures
Mine right fees
Environmental rehabiliation
Disposition
Foreign currecy translation impact			(10)	(6)
Balance at end of year		174	164	174
Impairment and accumulated depletion [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(242,082)	(246,156)
Disposition			12,888
Impairment reversal				7,279
Depletion			(16,447)	(15,521)
Foreign currecy translation impact			10,044	12,316
Balance at end of year		(242,082)	(235,597)	(242,082)
Impairment and accumulated depletion [Member] | Producing and development properties YMD [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(91,179)	(83,099)
Disposition
Impairment reversal
Depletion			(14,282)	(13,312)
Foreign currecy translation impact			5,071	5,232
Balance at end of year		(91,179)	(100,390)	(91,179)
Impairment and accumulated depletion [Member] | Producing and development properties BYP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(57,083)	(57,584)
Disposition
Impairment reversal
Depletion
Foreign currecy translation impact			395	501
Balance at end of year		(57,083)	(56,688)	(57,083)
Impairment and accumulated depletion [Member] | Producing and development properties GC [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(80,491)	(83,495)
Disposition
Impairment reversal
Depletion			(2,165)	(2,209)
Foreign currecy translation impact			4,301	5,213
Balance at end of year		(80,491)	(78,355)	(80,491)
Impairment and accumulated depletion [Member] | Exploration and evaluation properties XHP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(13,155)	(21,798)
Disposition			12,888
Impairment reversal				7,279
Depletion
Foreign currecy translation impact			267	1,364
Balance at end of year		(13,155)		(13,155)
Impairment and accumulated depletion [Member] | Exploration and evaluation properties RZY [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			(174)	(180)
Disposition
Impairment reversal
Depletion
Foreign currecy translation impact			10	6
Balance at end of year		(174)	(164)	(174)
Carrying amounts [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			238,920
Balance at end of year		238,920	224,586	238,920
Carrying amounts [Member] | Producing and development properties YMD [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			197,274
Balance at end of year		197,274	192,746	197,274
Carrying amounts [Member] | Producing and development properties BYP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			7,222
Balance at end of year		7,222	6,884	7,222
Carrying amounts [Member] | Producing and development properties GC [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			26,670
Balance at end of year		26,670	24,956	26,670
Carrying amounts [Member] | Exploration and evaluation properties XHP [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year			7,754
Balance at end of year		7,754		7,754
Carrying amounts [Member] | Exploration and evaluation properties RZY [Member]
Disclosure of detailed information about intangible assets [line items]
Balance at beginning year
Balance at end of year

MINERAL RIGHTS AND PROPERTIES_4

MINERAL RIGHTS AND PROPERTIES (Schedule of Assets and Liabilities Disposed) (Details) - XHP Project [Member] - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2019	Apr. 30, 2019
Disclosure of detailed information about intangible assets [line items]
Total consideration per share transfer agreement	$ 7,330	$ 7,300
Less: amounts owed to Henan Found	(1,112)	$ 1,100
Net consideration	6,218
Prepaids and deposits	124
Inventories	198
Plant and equipment	247
Mineral rights and properties	7,597
Accounts payable and accrued liabilities	(2,211)
Deposits received	(925)
Environmental rehabilitation	(289)
Total assets and liabilities disposed of	4,741
Gain on disposal of mineral rights and properties	$ 1,477

BANK LOAN (Narrative) (Details)

BANK LOAN (Narrative) (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2019CNY (¥)
Disclosure of detailed information about borrowings [line items]
Proportion of ownership interest held	28.80%	29.60%	29.60%
Bank loan | $		$ 4,527
Interest rate	4.35%
RMB [Member]
Disclosure of detailed information about borrowings [line items]
Bank loan | ¥			¥ 30,000

BANK LOAN (Schedule of Bank Loa

BANK LOAN (Schedule of Bank Loan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of bank loan [Abstract]
Balance, April 1	$ 4,475
Addition		4,527
Interest accrued	45	152
Interest paid	(50)	(144)
Principal repayment	(4,369)
Foreign exchange impact	(101)	(60)
Balance, March 31		$ 4,475

LEASES (Narrative) (Details)

LEASES (Narrative) (Details)	Mar. 31, 2020
Presentation of leases for lessee [abstract]
Estimated incremental borrowing rate	5.00%

LEASES (Schedule of Lease Oblig

LEASES (Schedule of Lease Obligation) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Lease Receivable
Adjustment upon adoption of IFRS 16, April 1, 2019	$ 447
Addition	238
Interest accrual	27
Interest received or paid	(27)
Principal repayment	(118)
Foreign exchange impact	(33)
Balance, March 31, 2020	534
Less: Current portion	(186)
Non-current portion	348
Lease Obligations
Adjustment upon adoption of IFRS 16, April 1, 2019	1,463
Addition	1,239
Interest accrual	112
Interest received or paid	(112)
Principal repayment	(503)
Foreign exchange impact	(130)
Balance, March 31, 2020	2,069
Less: Current portion	(567)
Non-current portion	$ 1,502

LEASES (Shedule of Reconciliati

LEASES (Shedule of Reconciliation of Company Undiscounted Cash Flows to Present Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Lease Receivable
Total undiscounted amount	$ 573
Less future interest	(39)
Total discounted amount	534	$ 447
Less: current portion	(186)
Non-current portion	348
Lease Obligations
Total undiscounted amount	2,280
Less future interest	(211)
Total discounted amount	2,069	1,463
Less: current portion	(567)
Non-current portion	1,502
Within a year [Member]
Lease Receivable
Total undiscounted amount	205
Lease Obligations
Total undiscounted amount	613
Total discounted amount	567
Between 2 to 5 years [Member]
Lease Receivable
Total undiscounted amount	368
Lease Obligations
Total undiscounted amount	1,629
After 5 years [Member]
Lease Receivable
Total undiscounted amount
Lease Obligations
Total undiscounted amount	$ 38

ENVIRONMENTAL REHABILITATION (N

ENVIRONMENTAL REHABILITATION (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of environmental rehabilitation [Abstract]
Environmental rehabilitation provision	$ 11,408	$ 19,413
Average discount rate	2.75%	3.23%
Reclamation deposit paid	$ 1,727	$ 2,601

ENVIRONMENTAL REHABILITATION (S

ENVIRONMENTAL REHABILITATION (Schedule of Reconciliation of Obligations Associated Retirement Properties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of environmental rehabilitation [Abstract]
Balance, April 1	$ 13,688	$ 13,098
Reclamation expenditures	(385)	(187)
Unwinding of discount of environmental rehabilitation	422	479
Revision of provision	(4,021)	1,122
Derecognition upon disposal of SX Gold	(289)
Foreign exchange impact	(715)	(824)
Balance, March 31	$ 8,700	$ 13,688

SHARE CAPITAL (Narrative) (Deta

SHARE CAPITAL (Narrative) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020shares$ / shares	Mar. 31, 2020USD ($)shares	Mar. 31, 2019USD ($)shares	Mar. 31, 2020$ / shares	Mar. 31, 2019$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Option granted			1,815,000
Exercise price | $ / shares				$ 4.94
Share-based compensation | $		$ 2,669	$ 1,896
Cash dividends distributed | $		$ 4,287	$ 4,208
Anti-dilutive options and warrants			3,123,000
Normal course issuer bid allows to acquire share		8,670,104
Directors, officers, and employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Option granted	61,250
Top of Range [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of reserve for future grant				3.00%
Top of Range [Member] | Directors, officers, and employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares	$ 3.23
Bottom of Range [Member] | Directors, officers, and employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares	$ 3.40
Restriceted Stock Unit [Member] | Directors, officers, and employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options distributed	7,625
Directors, officers, and employees [Member] | Restriceted Stock Unit [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Option granted		850,500
Exercise price | $ / shares				$ 4.94
Vesting period		2 years
Percentage of option vesting every six months		25.00%

SHARE CAPITAL (Schedule of Opti

SHARE CAPITAL (Schedule of Option Transactions) (Details)	12 Months Ended
	Mar. 31, 2020shares$ / shares	Mar. 31, 2019shares$ / shares
Number of options
Option at beginning of year | shares	6,480,916	8,146,799
Options granted | shares		1,815,000
Options exercised | shares	(3,833,406)	(2,812,496)
Options forfeited | shares	(123,750)	(164,075)
Options expired | shares	(100,000)	(504,312)
Option at end of year | shares	2,423,760	6,480,916
Weighted average exercise price (in CAD)
Option at beginning of year | $ / shares	$ 2.86	$ 2.15
Options granted | $ / shares		3.10
Options exercised | $ / shares	2.78	0.87
Options forfeited | $ / shares	3.29	3.34
Options expired | $ / shares	1.75	3.27
Option at end of year | $ / shares	$ 3	$ 2.86

SHARE CAPITAL (Schedule of Info

SHARE CAPITAL (Schedule of Information About Stock Options Outstanding) (Details)	12 Months Ended
	Mar. 31, 2020shares$ / shares	Mar. 31, 2019shares$ / shares	Mar. 31, 2018shares$ / shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	2,423,760	6,480,916	8,146,799
Weighted average exercise price	$ 4.94
Weighted average exercise price	3	$ 2.86	$ 2.15
1.43 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 1.43
Number of options outstanding | shares	201,260
Weighted average remaining contractual life (Years)	2 months 1 day
Weighted average exercise price	$ 1.43
Number of options exercisable | shares	201,260
Weighted average exercise price	$ 1.43
2.60 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 2.60
Number of options outstanding | shares	565,000
Weighted average remaining contractual life (Years)	1 year 7 months 17 days
Weighted average exercise price	$ 2.60
Number of options exercisable | shares	237,500
Weighted average exercise price	$ 2.60
3.23 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 3.23
Number of options outstanding | shares	561,250
Weighted average remaining contractual life (Years)	11 months 12 days
Weighted average exercise price	$ 3.23
Number of options exercisable | shares	561,250
Weighted average exercise price	$ 3.23
3.36 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 3.36
Number of options outstanding | shares	402,500
Weighted average remaining contractual life (Years)	6 months 3 days
Weighted average exercise price	$ 3.36
Number of options exercisable | shares	402,500
Weighted average exercise price	$ 3.36
3.40 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 3.40
Number of options outstanding | shares	693,750
Weighted average remaining contractual life (Years)	1 year 4 months 24 days
Weighted average exercise price	$ 3.40
Number of options exercisable | shares	441,250
Weighted average exercise price	$ 3.40
1.43 - 3.40 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	2,423,760
Weighted average remaining contractual life (Years)	1 year 1 month 6 days
Weighted average exercise price	$ 3
Number of options exercisable | shares	1,843,760
Weighted average exercise price	$ 3.02
1.43 - 3.40 [Member] | Bottom of Range [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	1.43
1.43 - 3.40 [Member] | Top of Range [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 3.40

SHARE CAPITAL (Schedule of Summ

SHARE CAPITAL (Schedule of Summary of RSUs) (Details	12 Months Ended
	Mar. 31, 2020shares$ / shares
Number of shares
Balance, April 1, 2019 | shares
Granted | shares	850,500
Cancelled | shares	(31,750)
Distributed | shares	(141,376)
Balance, March 31, 2020 | shares	677,374
Weighted average grant date closing price per share (in CAD)
Balance, April 1, 2019 | $ / shares
Granted | $ / shares	4.94
Cancelled | $ / shares	4.94
Distributed | $ / shares	4.94
Balance, March 31, 2020 | $ / shares	$ 4.94

SHARE CAPITAL (Schedule of Earn

SHARE CAPITAL (Schedule of Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of classes of share capital [abstract]
Net income attributable to equity holders of the Company	$ 34,274	$ 39,724
Basic earnings per share (Income Numerator)	$ 34,274	$ 39,724
Basic earnings per share (Shares Denominator)	171,713,263	168,483,412
Basic earnings per share (Per-Share Amount)	$ 0.20	$ 0.24
Effect of dilutive securities:
Stock options (Shares Denominator)	2,366,124	1,903,581
Diluted earnings per share (Income Numerator)	$ 34,274	$ 39,724
Diluted earnings per share (Shares Denominator)	174,079,387	170,386,993
Diluted earnings per share (Per-Share Amount)	$ 0.20	$ 0.23

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of analysis of other comprehensive income by item [abstract]
Change in fair value on equity investments designated as FVTOCI	$ 34,879	$ 35,128
Share of other comprehensive income in associate	(1,735)	(679)
Currency translation adjustment	28,445	7,415
Balance, end of the year	$ 61,589	$ 41,864

NON-CONTROLLING INTERESTS (Narr

NON-CONTROLLING INTERESTS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Henan Found [Member]
Disclosure of subsidiaries [line items]
Percentage of non-controlling interests	22.50%
Henan Huawei [Member]
Disclosure of subsidiaries [line items]
Percentage of non-controlling interests	20.00%
Yunxiang [Member]
Disclosure of subsidiaries [line items]
Percentage of non-controlling interests	30.00%
Guangdong Found [Member]
Disclosure of subsidiaries [line items]
Percentage of non-controlling interests	1.00%
Henan Non-ferrous Geology Minerals Ltd. [Member]
Disclosure of subsidiaries [line items]
Percentage of Equity interest held of Henan found and Henan Huawei	17.50%
Dividends declared	$ 2,025	$ 8,995
Henan Xinxiangrong Mining Ltd. [Member]
Disclosure of subsidiaries [line items]
Percentage of Equity interest held of Henan found and Henan Huawei	5.00%
Dividends declared	$ 578	2,570
Henan Xinhui Mining Co. Ltd. [Member]
Disclosure of subsidiaries [line items]
Percentage of Equity interest held of Henan found and Henan Huawei	20.00%
Dividends declared	$ 656	$ 1,694

NON-CONTROLLING INTERESTS (Sche

NON-CONTROLLING INTERESTS (Schedule of Non-controlling Interests) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of subsidiaries [line items]
Balance, Begnning	$ 65,735	$ 68,943
Share of net income (loss)	10,929	12,323
Share of other comprehensive (loss) income	(3,115)	(3,064)
Distributions	(3,259)	(13,259)
Acquisition of non-controlling interest		(3,271)
Disposition		(1,002)
Balance, Ending	70,290	65,735
Henan Found [Member]
Disclosure of subsidiaries [line items]
Balance, Begnning	58,262	62,047
Share of net income (loss)	10,440	11,444
Share of other comprehensive (loss) income	(2,768)	(3,664)
Distributions	(2,603)	(11,565)
Acquisition of non-controlling interest
Disposition
Balance, Ending	63,331	58,262
Henan Huawei [Member]
Disclosure of subsidiaries [line items]
Balance, Begnning	4,903	5,909
Share of net income (loss)	664	892
Share of other comprehensive (loss) income	(209)	(204)
Distributions	(656)	(1,694)
Acquisition of non-controlling interest
Disposition
Balance, Ending	4,702	4,903
Yunxiang [Member]
Disclosure of subsidiaries [line items]
Balance, Begnning	3,017	3,532
Share of net income (loss)	(221)	(365)
Share of other comprehensive (loss) income	(73)	(150)
Distributions
Acquisition of non-controlling interest
Disposition
Balance, Ending	2,723	3,017
Guangdong Found [Member]
Disclosure of subsidiaries [line items]
Balance, Begnning	(447)	(2,545)
Share of net income (loss)	46	352
Share of other comprehensive (loss) income	(65)	954
Distributions
Acquisition of non-controlling interest		1,794
Disposition		(1,002)
Balance, Ending	$ (466)	$ (447)

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) ¥ in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
		Jan. 31, 2020USD ($)	Mar. 31, 2020USD ($)		Mar. 31, 2019USD ($)		Jan. 31, 2020CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2019CNY (¥)	Mar. 31, 2019CNY (¥)
Disclosure of transactions between related parties [line items]
General and administrative expenses			$ 20,150		$ 19,041
Due from related parties			$ 1,519		3,022
Interest rate			4.35%
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of transactions between related parties [line items]
General and administrative expenses			$ 530		225
Due from related parties	[1]		94		33
Henan Non-ferrous [Member]
Disclosure of transactions between related parties [line items]
Due from related parties		$ 1,426	$ 1,425	[2]	$ 2,989	[2]
Accumulated interest								$ 2,922
Interest rate		4.35%			4.35%		4.35%			4.35%
Loan term		Four Months
Henan Non-ferrous [Member] | RMB [Member]
Disclosure of transactions between related parties [line items]
Due from related parties | ¥							¥ 10,000			¥ 20,000
Accumulated interest | ¥									¥ 20,700
[1]	The Company recovers costs for services rendered to NUAG and expenses incurred on behalf of NUAG pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2020, the Company recovered $530 (year ended March 31, 2019 - $225), from NUAG for services rendered and expenses incurred on behalf of NUAG. The costs recovered from NUAG were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income.
[2]	In March 2019, Henan Found advanced a loan of $2,989 (RMB¥20 million) to Henan Non-ferrous. The loan bears an interest rate of 4.35% per annum. In December 2019, the loan, including accumulated interest, of $2,922 (RMB¥20.7 million) was repaid.

RELATED PARTY TRANSACTIONS (Sch

RELATED PARTY TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands		Mar. 31, 2020		Jan. 31, 2020	Mar. 31, 2019
Disclosure of transactions between related parties [line items]
Due from related parties		$ 1,519			$ 3,022
New Pacific Metals Corp ("NUAG") [Member]
Disclosure of transactions between related parties [line items]
Due from related parties	[1]	94			33
Henan Non-ferrous [Member]
Disclosure of transactions between related parties [line items]
Due from related parties		$ 1,425	[2]	$ 1,426	$ 2,989	[2]
[1]	The Company recovers costs for services rendered to NUAG and expenses incurred on behalf of NUAG pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2020, the Company recovered $530 (year ended March 31, 2019 - $225), from NUAG for services rendered and expenses incurred on behalf of NUAG. The costs recovered from NUAG were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income.
[2]	In March 2019, Henan Found advanced a loan of $2,989 (RMB¥20 million) to Henan Non-ferrous. The loan bears an interest rate of 4.35% per annum. In December 2019, the loan, including accumulated interest, of $2,922 (RMB¥20.7 million) was repaid.

RELATED PARTY TRANSACTIONS (S_2

RELATED PARTY TRANSACTIONS (Schedule of Compensation of Key Management Personnel) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of transactions between related parties [abstract]
Directors' fees and bonus	$ 293	$ 256
Salaries and bonus for key management personnel	2,519	2,498
Share-based compensation	1,487	725
Total compensation of key management personnel	$ 4,299	$ 3,479

GENERAL AND ADMINISTRATIVE (Sch

GENERAL AND ADMINISTRATIVE (Schedule of General and Administrative Expenses Consist) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Amortization and depreciation	$ 1,958	$ 1,253
Office and administrative expenses	5,185	5,901
Professional fees	1,043	866
Salaries and benefits	9,428	9,208
Share-based compensation	2,536	1,813
Total general and administrative	20,150	19,041
Corporate [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Amortization and depreciation	447	162
Office and administrative expenses	2,304	2,741
Professional fees	562	440
Salaries and benefits	4,245	4,319
Share-based compensation	2,536	1,813
Total general and administrative	10,094	9,475
Mines [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Amortization and depreciation	1,511	1,091
Office and administrative expenses	2,881	3,160
Professional fees	481	426
Salaries and benefits	5,183	4,889
Share-based compensation
Total general and administrative	$ 10,056	$ 9,566

GOVERNMENT FEES AND OTHER TAX_3

GOVERNMENT FEES AND OTHER TAXES (Schedule of Government Fees and Other Taxes Consist) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of government fees and other taxes [Abstract]
Government fees	$ 210	$ 162
Other taxes	1,905	2,537
Total government fees and other taxes consist	$ 2,115	$ 2,699

FINANCE ITEMS (Schedule of Fina

FINANCE ITEMS (Schedule of Finance Items Consist) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finance income
Interest income	$ 4,023	$ 3,476
Finance costs
Interest on bank loan	45	152
Interest on lease obligation	112
Loss on disposal of bonds	1,494
Unwinding of discount of environmental rehabilitation provision	422	479
Total finance costs	$ 2,073	$ 631

INCOME TAX (Narrative) (Details

INCOME TAX (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Major components of tax expense (income) [abstract]
Temporary differences associated with the investments in subsidiaries	$ 173,020	$ 184,147

INCOME TAX (Schedule of Income

INCOME TAX (Schedule of Income Tax Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income tax expense
Current	$ 5,613	$ 17,750
Deferred	3,296	3,121
Income tax expense	$ 8,909	$ 20,871

INCOME TAX (Schedule of Reconci

INCOME TAX (Schedule of Reconciliation of Effective Statutory Income Tax Rates) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Major components of tax expense (income) [abstract]
Canadian statutory tax rate	27.00%	27.00%
Income before income taxes	$ 54,112	$ 72,918
Income tax expense computed at Canadian statutory rates	14,610	19,688
Foreign tax rates different from statutory rate	(2,255)	(1,707)
Permanent items	760	(444)
Withholding taxes	2,782	5,153
Change in unrecognized deferred tax assets	(6,988)	(1,819)
Income tax expense	$ 8,909	$ 20,871

INCOME TAX (Schedule of Deferre

INCOME TAX (Schedule of Deferred Income Tax Assets (liabilities)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Major components of tax expense (income) [abstract]
Net deferred income tax liabilities, beginning of the year	$ (34,334)	$ (33,310)
Deferred income tax expense recognized in net income for the year	(3,296)	(3,121)
Foreign exchange impact	1,872	2,097
Net deferred income tax liabilities, end of the year	$ (35,758)	$ (34,334)

INCOME TAX (Schedule of Defer_2

INCOME TAX (Schedule of Deferred Income Tax) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred income tax assets
Total deferred income tax assets	$ 3,468	$ 4,489
Deferred income tax liabilities
Total deferred income tax liabilities	(39,226)	(38,823)
Net deferred income tax liabilities	(35,758)	(34,334)
Plant and Equipment [Member]
Deferred income tax assets
Total deferred income tax assets	1,001	880
Deferred income tax liabilities
Total deferred income tax liabilities	(1,258)	(829)
Environmental rehabilitation [Member]
Deferred income tax assets
Total deferred income tax assets	1,948	3,155
Other deductible temporary difference [Member]
Deferred income tax assets
Total deferred income tax assets	519	454
Mineral rights and properties [Member]
Deferred income tax liabilities
Total deferred income tax liabilities	(37,601)	(37,465)
Unrealized gain on investments [Member]
Deferred income tax liabilities
Total deferred income tax liabilities	(65)	(365)
Other taxable temporary difference [Member]
Deferred income tax liabilities
Total deferred income tax liabilities	$ (302)	$ (164)

INCOME TAX (Schedule of Tempora

INCOME TAX (Schedule of Temporary Differences and Unused Tax Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	$ 94,706	$ 119,988
Non-capital loss carry forwards [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	63,355	77,620
Plant and Equipment [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	14,460	25,765
Mineral rights and properties [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	5,072	4,378
Other deductible temporary difference [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	$ 11,819	$ 12,225

INCOME TAX (Schedule of Net Ope

INCOME TAX (Schedule of Net Operating Losses Expiring in Various Years) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	$ 63,355
Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	56,726
China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	6,629
2021 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,073
2021 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2021 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,073
2022 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,424
2022 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2022 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,424
2023 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,031
2023 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2023 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,031
2024 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,225
2024 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2024 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,225
2027 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	3,047
2027 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,171
2027 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,876
2030 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	3,506
2030 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	3,506
2030 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2031 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	6,004
2031 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	6,004
2031 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2032 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	8,713
2032 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	8,713
2032 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2033 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	8,967
2033 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	8,967
2033 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2034 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	7,047
2034 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	7,047
2034 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2035 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	6,400
2035 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	6,400
2035 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2036 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,880
2036 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,880
2036 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2037 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	516
2037 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	516
2037 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2038 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,251
2038 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,251
2038 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2039 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,543
2039 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	2,543
2039 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2040 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,898
2040 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	1,898
2040 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses
2041 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	4,830
2041 [Member] | Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses	4,830
2041 [Member] | China [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net operating losses

FINANCIAL INSTRUMENTS (Narrativ

FINANCIAL INSTRUMENTS (Narrative) (Details) $ in Thousands	Mar. 31, 2020USD ($)
Disclosure of detailed information about financial instruments [abstract]
10% strengthening (weakening) of the CAD against the USD increased (decreased) net income	$ 6,100
10% increase (decrease) in the market price of securities held foreign currency effects on comprehensive income	$ 663
Interest rate	4.35%

FINANCIAL INSTRUMENTS (Schedule

FINANCIAL INSTRUMENTS (Schedule of Financial Assets Measured at Fair Value Level On Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Cash and Cash Equivalents [Member]
Disclosure of financial assets [line items]
Financial assets	$ 65,777	$ 67,441
Cash and Cash Equivalents [Member] | Level 1 [Member]
Disclosure of financial assets [line items]
Financial assets	65,777	67,441
Cash and Cash Equivalents [Member] | Level 2 [Member]
Disclosure of financial assets [line items]
Financial assets
Cash and Cash Equivalents [Member] | Level 3 [Member]
Disclosure of financial assets [line items]
Financial assets
Short-term investments - money market instruments [Member]
Disclosure of financial assets [line items]
Financial assets	53,430	22,850
Short-term investments - money market instruments [Member] | Level 1 [Member]
Disclosure of financial assets [line items]
Financial assets	53,430	22,850
Short-term investments - money market instruments [Member] | Level 2 [Member]
Disclosure of financial assets [line items]
Financial assets
Short-term investments - money market instruments [Member] | Level 3 [Member]
Disclosure of financial assets [line items]
Financial assets
Investments in public companies [Member]
Disclosure of financial assets [line items]
Financial assets	6,633	9,253
Investments in public companies [Member] | Level 1 [Member]
Disclosure of financial assets [line items]
Financial assets	6,633	9,253
Investments in public companies [Member] | Level 2 [Member]
Disclosure of financial assets [line items]
Financial assets
Investments in public companies [Member] | Level 3 [Member]
Disclosure of financial assets [line items]
Financial assets
Investments in private company [Member]
Disclosure of financial assets [line items]
Financial assets	2,117
Investments in private company [Member] | Level 1 [Member]
Disclosure of financial assets [line items]
Financial assets
Investments in private company [Member] | Level 2 [Member]
Disclosure of financial assets [line items]
Financial assets
Investments in private company [Member] | Level 3 [Member]
Disclosure of financial assets [line items]
Financial assets	$ 2,117

FINANCIAL INSTRUMENTS (Schedu_2

FINANCIAL INSTRUMENTS (Schedule of Remaining Contractual Maturities of Financial Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Disclosure of financial liabilities [line items]
Bank loan		$ 4,475
Accounts payable and accrued liabilities	23,129	29,856
Lease obligation	2,069	1,463
Total financial liabilities	25,198	$ 34,331
Within a year [Member]
Disclosure of financial liabilities [line items]
Bank loan
Accounts payable and accrued liabilities	23,129
Lease obligation	567
2-5 years [Member]
Disclosure of financial liabilities [line items]
Bank loan
Accounts payable and accrued liabilities
Lease obligation	1,464
Total financial liabilities	1,464
Over 5 years [Member]
Disclosure of financial liabilities [line items]
Bank loan
Accounts payable and accrued liabilities
Lease obligation	38
Total financial liabilities	$ 38

FINANCIAL INSTRUMENTS (Schedu_3

FINANCIAL INSTRUMENTS (Schedule of Currency Risk Affect Net Income) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
USD [Member]
Disclosure of risk management strategy related to hedge accounting [line items]
Financial assets	$ 60,534	$ 45,912

SEGMENTED INFORMATION (Narrativ

SEGMENTED INFORMATION (Narrative) (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of major customers [line items]
Number of major customers	5	4
Percentage of sales	81.00%	67.00%
Customer One [Member]
Disclosure of major customers [line items]
Percentage of sales	11.00%	12.00%
Customer Two [Member]
Disclosure of major customers [line items]
Percentage of sales	12.00%	13.00%
Customer Three [Member]
Disclosure of major customers [line items]
Percentage of sales	16.00%	15.00%
Customer Four [Member]
Disclosure of major customers [line items]
Percentage of sales	19.00%	26.00%
Customer Five [Member]
Disclosure of major customers [line items]
Percentage of sales	22.00%

SEGMENTED INFORMATION (Schedule

SEGMENTED INFORMATION (Schedule of Segment Information for Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Disclosure of operating segments [line items]
Current assets	$ 158,179	$ 134,861
Plant and equipment	66,722	68,617
Mineral rights and properties	224,586	238,920
Investment in an associate	44,555	38,703
Other investments	8,750	9,253
Reclamation deposits	9,230	7,953
Long-term prepaids and deposits	390	769
Long-term portion of lease receivable	348
Total assets	512,760	499,076
Current liabilities	27,828	37,873
Long-term portion of lease obligation	1,502
Deferred income tax liabilities	35,758	34,334
Environmental rehabilitation	8,700	13,688	$ 13,098
Total liabilities	73,788	85,895
Mining Henan Luoning [Member]
Disclosure of operating segments [line items]
Current assets	80,160	66,992
Plant and equipment	45,113	47,600
Mineral rights and properties	192,746	197,274
Investment in an associate
Other investments	2,117
Reclamation deposits	5,043	5,330
Long-term prepaids and deposits	205	369
Long-term portion of lease receivable
Total assets	325,384	317,565
Current liabilities	19,495	27,000
Long-term portion of lease obligation
Deferred income tax liabilities	34,761	33,337
Environmental rehabilitation	6,775	11,623
Total liabilities	61,031	71,960
Mining Hunan [Member]
Disclosure of operating segments [line items]
Current assets	1,467	1,540
Plant and equipment	3,893	4,319
Mineral rights and properties	6,884	7,222
Investment in an associate
Other investments
Reclamation deposits
Long-term prepaids and deposits	99	104
Long-term portion of lease receivable
Total assets	12,343	13,185
Current liabilities	1,322	1,391
Long-term portion of lease obligation
Deferred income tax liabilities	997	997
Environmental rehabilitation	1,015	998
Total liabilities	3,334	3,386
Mining Guangdong [Member]
Disclosure of operating segments [line items]
Current assets	3,665	11,870
Plant and equipment	15,261	15,354
Mineral rights and properties	24,956	26,670
Investment in an associate
Other investments
Reclamation deposits	4,180	2,616
Long-term prepaids and deposits	86	170
Long-term portion of lease receivable
Total assets	48,148	56,680
Current liabilities	3,154	4,036
Long-term portion of lease obligation
Deferred income tax liabilities
Environmental rehabilitation	910	774
Total liabilities	4,064	4,810
Mining Other [Member]
Disclosure of operating segments [line items]
Current assets		529
Plant and equipment		255
Mineral rights and properties		7,754
Investment in an associate
Other investments
Reclamation deposits
Long-term prepaids and deposits		126
Long-term portion of lease receivable
Total assets		8,664
Current liabilities		2,548
Long-term portion of lease obligation
Deferred income tax liabilities
Environmental rehabilitation		293
Total liabilities		2,841
Administrative Beijing [Member]
Disclosure of operating segments [line items]
Current assets	4,289	5,435
Plant and equipment	862	932
Mineral rights and properties
Investment in an associate
Other investments
Reclamation deposits
Long-term prepaids and deposits
Long-term portion of lease receivable
Total assets	5,151	6,367
Current liabilities	625	1,102
Long-term portion of lease obligation
Deferred income tax liabilities
Environmental rehabilitation
Total liabilities	625	1,102
Administrative Vancouver [Member]
Disclosure of operating segments [line items]
Current assets	68,598	48,495
Plant and equipment	1,593	157
Mineral rights and properties
Investment in an associate	44,555	38,703
Other investments	6,633	9,253
Reclamation deposits	7	7
Long-term prepaids and deposits
Long-term portion of lease receivable	348
Total assets	121,734	96,615
Current liabilities	3,232	1,796
Long-term portion of lease obligation	1,502
Deferred income tax liabilities
Environmental rehabilitation
Total liabilities	$ 4,734	$ 1,796

SEGMENTED INFORMATION (Schedu_2

SEGMENTED INFORMATION (Schedule of Segment Information for Operating Results) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020		Mar. 31, 2019
Disclosure of operating segments [line items]
Sales	$ 158,829		$ 170,519
Costs of mine operations	(99,455)		(99,587)
Income from mine operations	59,374		70,932
Operating income (expenses)	(7,212)		(22,302)
Impairment recovery, net			9,178
Finance items, net	1,950		2,845
Income tax expenses	(8,909)		(20,871)
Net income	45,203		52,047
Attributable to:
Equity holders of the Company	34,274		39,724
Non-controlling interests	10,929		12,323
Net income	45,203		52,047
Mining Henan Luoning [Member]
Disclosure of operating segments [line items]
Sales	131,434		141,483
Costs of mine operations	(77,337)		(76,276)
Income from mine operations	54,097		65,207
Operating income (expenses)	333		(858)
Impairment recovery, net
Finance items, net	1,366		1,131
Income tax expenses	(5,013)		(15,588)
Net income	50,783		49,892
Attributable to:
Equity holders of the Company	39,679		39,008
Non-controlling interests	11,104		10,884
Net income	50,783		49,892
Mining Hunan [Member]
Disclosure of operating segments [line items]
Sales		[1]
Costs of mine operations	(403)	[1]	(855)
Income from mine operations	(403)	[1]	(855)
Operating income (expenses)	(134)	[1]	(106)
Impairment recovery, net
Finance items, net	(147)	[1]	(127)
Income tax expenses	(53)	[1]	(128)
Net income	(737)	[1]	(1,216)
Attributable to:
Equity holders of the Company	(516)	[1]	(851)
Non-controlling interests	(221)	[1]	(365)
Net income	(737)	[1]	(1,216)
Mining Guangdong [Member]
Disclosure of operating segments [line items]
Sales	27,395		29,036
Costs of mine operations	(21,689)		(21,566)
Income from mine operations	5,706		7,470
Operating income (expenses)	(178)		(344)
Impairment recovery, net
Finance items, net	136		51
Income tax expenses	(1,060)
Net income	4,604		7,177
Attributable to:
Equity holders of the Company	4,558		6,825
Non-controlling interests	46		352
Net income	4,604		7,177
Mining Other [Member]
Disclosure of operating segments [line items]
Sales
Costs of mine operations			(854)
Income from mine operations			(854)
Operating income (expenses)	(60)		44
Impairment recovery, net			7,279
Finance items, net			(11)
Income tax expenses
Net income	(60)		6,458
Attributable to:
Equity holders of the Company	(60)		5,006
Non-controlling interests			1,452
Net income	(60)		6,458
Administrative Beijing [Member]
Disclosure of operating segments [line items]
Sales
Costs of mine operations	(26)		(36)
Income from mine operations	(26)		(36)
Operating income (expenses)	(1,590)		(1,555)
Impairment recovery, net
Finance items, net	133		145
Income tax expenses	(1)		(2)
Net income	(1,484)		(1,448)
Attributable to:
Equity holders of the Company	(1,484)		(1,448)
Non-controlling interests
Net income	(1,484)		(1,448)
Administrative Vancouver [Member]
Disclosure of operating segments [line items]
Sales
Costs of mine operations
Income from mine operations
Operating income (expenses)	(5,583)		(7,218)
Impairment recovery, net			1,899
Finance items, net	462		1,656
Income tax expenses	(2,782)		(5,153)
Net income	(7,903)		(8,816)
Attributable to:
Equity holders of the Company	(7,903)		(8,816)
Non-controlling interests
Net income	$ (7,903)		$ (8,816)
[1]	Hunan&8217;s BYP project was placed on care and maintenance in August 2014

SEGMENTED INFORMATION (Schedu_3

SEGMENTED INFORMATION (Schedule of Sales by Metal) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of geographical areas [line items]
Silver (Ag)	$ 84,872	$ 80,654
Gold (Au)	3,911	3,642
Lead (Pb)	51,966	64,111
Zinc (Zn)	15,780	20,654
Other	2,300	1,458
Sales	158,829	170,519
Henan Luoning [Member]
Disclosure of geographical areas [line items]
Silver (Ag)	77,617	74,702
Gold (Au)	3,911	3,642
Lead (Pb)	43,312	55,739
Zinc (Zn)	4,911	6,305
Other	1,683	1,095
Sales	131,434	141,483
Guangdong [Member]
Disclosure of geographical areas [line items]
Silver (Ag)	7,255	5,952
Gold (Au)
Lead (Pb)	8,654	8,372
Zinc (Zn)	10,869	14,349
Other	617	363
Sales	$ 27,395	$ 29,036

SUPPLEMENTARY CASH FLOW INFOR_3

SUPPLEMENTARY CASH FLOW INFORMATION (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Supplementary Cash Flow Information Schedule Of Change In Non-cash Operating Working Capital
Cash on hand and at bank	$ 65,251	$ 67,215
Bank term deposits and GICs	526	226
Total cash and cash equivalents	$ 65,777	$ 67,441	$ 49,199

SUPPLEMENTARY CASH FLOW INFOR_4

SUPPLEMENTARY CASH FLOW INFORMATION (Schedule of Change in Non-cash Operating Working Capital) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplementary Cash Flow Information Schedule Of Change In Non-cash Operating Working Capital
Trade and other receivables	$ 330	$ 169
Inventories	1,798	(606)
Prepaids and deposits	184	500
Accounts payable and accrued liabilities	(1,616)	3,962
Deposits received	1,236	(3,343)
Due from a related party	(170)	(23)
Total changes in non-cash operating working capital	$ 1,762	$ 659

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ / shares in Units, $ in Millions, $ in Millions	1 Months Ended
	May 18, 2020USD ($)shares$ / shares	May 18, 2020USD ($)shares$ / shares	Apr. 27, 2020USD ($)$ / shares	Apr. 27, 2020USD ($)$ / shares	May 18, 2020CAD ($)shares	Apr. 27, 2020CAD ($)	Mar. 31, 2020
Disclosure of non-adjusting events after reporting period [line items]
Interest rate							4.35%
Guyana Goldfields [Member]
Disclosure of non-adjusting events after reporting period [line items]
Per Share price | $ / shares	$ 0.1849		$ 0.1195
Cash Consideration	$ 27.8	$ 27.8	$ 23.4	$ 23.4
Explanation of business combination consideration			If all Guyana Goldfields shareholders elect to receive cash, consideration for each share will consist of CAD$0.20 in cash and 0.0796 of a Silvercorp common share (valued at CAD$0.40 based on the volume weighted average price for Silvercorp common shares for the 20 trading days ended April 24, 2020). Assuming the maximum cash consideration, existing Guyana Goldfields shareholders will own 7.1% of Silvercorp s pro forma basic shares outstanding following the Transaction. The consideration of CAD$0.60 per share represents a 71% premium to the 20-day volume weighted average price of Guyana Goldfields as of the close of trading on April 24, 2020.	If all Guyana Goldfields shareholders elect to receive cash, consideration for each share will consist of CAD$0.20 in cash and 0.0796 of a Silvercorp common share (valued at CAD$0.40 based on the volume weighted average price for Silvercorp common shares for the 20 trading days ended April 24, 2020). Assuming the maximum cash consideration, existing Guyana Goldfields shareholders will own 7.1% of Silvercorp s pro forma basic shares outstanding following the Transaction. The consideration of CAD$0.60 per share represents a 71% premium to the 20-day volume weighted average price of Guyana Goldfields as of the close of trading on April 24, 2020.
Amount of Borrowings			$ 15	$ 15
Interest rate			12.00%	12.00%		12.00%
Interest of occurrence of triggering events per annum			14.00%	14.00%		14.00%
Number of share issuable | shares	29,200,000	29,200,000			29,200,000
Percentage of ownership	14.40%	14.40%			14.40%
Amount of valuation	$ 227
Termination fee	$ 9
Guyana Goldfields [Member] | CAD [Member]
Disclosure of non-adjusting events after reporting period [line items]
Per Share price | $ / shares		$ 0.25		$ 0.60
Cash Consideration					$ 39.5	$ 33.2
Weighted average price | $ / shares		$ 1.30		$ 0.60