Silvercorp Metals (SVM) 40-F 7 Jun 24 2024 FY Annual report (Canada) Financial data

Document And Entity Information

Document And Entity Information - shares	12 Months Ended
	Mar. 31, 2024	Jun. 05, 2024
Document Information Line Items
Entity Registrant Name	SILVERCORP METALS INC.
Trading Symbol	SVM
Document Type	40-F
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		177,618,358
Amendment Flag	false
Entity Central Index Key	0001340677
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Registration Statement	false
Document Annual Report	true
Entity File Number	001-34184
Entity Incorporation, State or Country Code	Z4
Entity Primary SIC Number	1041
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	Suite 1750
Entity Address, Address Line Two	1066 West Hastings Street
Entity Address, City or Town	Vancouver
Entity Address, Postal Zip Code	V6E 3X1
Entity Address, Country	CA
City Area Code	(604)
Local Phone Number	669-9397
Title of 12(b) Security	Common Shares, without par value
Security Exchange Name	NYSEAMER
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Deloitte LLP
Auditor Location	Vancouver, Canada
Auditor Firm ID	1208
Business Contact
Document Information Line Items
Entity Address, Address Line One	84 State Street
Entity Address, City or Town	Boston
Entity Address, Postal Zip Code	02109
City Area Code	617
Local Phone Number	227-9590
Contact Personnel Name	Corporation Service Company
Entity Address, State or Province	MA

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Profit or loss [abstract]
Revenue	$ 215,187	$ 208,129
Cost of mine operations
Production costs	88,574	91,769
Depreciation and amortization	27,286	27,607
Mineral resource taxes	5,275	5,095
Government fees and other taxes	2,641	2,388
General and administrative	10,822	10,487
Cost of sales	134,598	137,346
Income from mine operations	80,589	70,783
Corporate general and administrative	14,095	13,249
Property evaluation and business development	807	438
Foreign exchange loss (gain)	337	(4,842)
(Gain) loss on investments	(7,677)	2,318
Share of loss in associates	2,692	2,901
Dilution (gain) loss on investment in associate	(733)	107
Impairment of investment in associate	4,251
Loss on disposal of plant and equipment	45	444
Impairment of mineral rights and properties		20,211
Other expense	2,851	2,210
Income from operations	63,921	33,747
Finance income	6,247	4,654
Finance costs	(213)	(3,258)
Income before income taxes	69,955	35,143
Income tax expense	20,277	14,043
Net income	49,678	21,100
Attributable to:
Equity holders of the Company	36,306	20,608
Non-controlling interests	13,372	492
Net income	$ 49,678	$ 21,100
Earnings per share attributable to the equity holders of the Company
Basic earnings per share (in Dollars per share)	$ 0.21	$ 0.12
Diluted earnings per share (in Dollars per share)	$ 0.2	$ 0.12
Weighted Average Number of Shares Outstanding - Basic (in Shares)	176,997,360	176,862,877
Weighted Average Number of Shares Outstanding - Diluted (in Shares)	179,137,610	178,989,549

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 49,678	$ 21,100
Items that may subsequently be reclassified to net income or loss:
Currency translation adjustment	(19,973)	(45,644)
Share of other comprehensive loss in associate	(36)	(886)
Reclassification to net income upon ownership dilution of investment in associate	(34)
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	(67)	(1,312)
Other comprehensive loss, net of taxes	(20,110)	(47,842)
Attributable to:
Equity holders of the Company	(16,802)	(41,290)
Non-controlling interests	(3,308)	(6,552)
Other comprehensive loss, net of taxes	(20,110)	(47,842)
Total comprehensive income (loss)	29,568	(26,742)
Attributable to:
Equity holders of the Company	19,504	(20,682)
Non-controlling interests	10,064	(6,060)
Total comprehensive income	$ 29,568	$ (26,742)

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Current Assets
Cash and cash equivalents	$ 152,942	$ 145,692
Short-term investments	31,949	57,631
Trade and other receivables	2,202	1,806
Inventories	7,395	8,343
Due from related parties	590	88
Income tax receivable	71	582
Prepaids and deposits	6,749	4,906
Total current assets	201,898	219,048
Non-current Assets
Long-term prepaids and deposits	1,634	871
Reclamation deposits	4,409	6,981
Other investments	46,254	15,540
Investment in associates	49,426	50,695
Investment properties	463
Plant and equipment	79,898	80,059
Mineral rights and properties	318,833	303,426
Deferred income tax assets		179
TOTAL ASSETS	702,815	676,799
Current Liabilities
Accounts payable and accrued liabilities	41,797	36,737
Current portion of lease obligation	213	269
Deposits received	4,223	4,090
Income tax payable	921	144
Total current liabilities	47,154	41,240
Non-current Liabilities
Long-term portion of lease obligation	1,102	314
Deferred income tax liabilities	51,108	48,096
Environmental rehabilitation	6,442	7,318
Total Liabilities	105,806	96,968
Equity
Share capital	258,400	255,684
Equity reserves	(12,908)	3,484
Retained earnings	261,763	229,885
Total equity attributable to the equity holders of the Company	507,255	489,053
Non-controlling interests	89,754	90,778
Total Equity	597,009	579,831
TOTAL LIABILITIES AND EQUITY	$ 702,815	$ 676,799

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net income	$ 49,678	$ 21,100
Add (deduct) items not affecting cash:
Finance costs	213	3,258
Income tax expense	20,277	14,043
Depreciation, amortization and depletion	28,968	29,370
(Gain) loss on investments	(7,677)	2,318
Share of loss in associates	2,692	2,901
Dilution (gain) loss on investment in associate	(733)	107
Impairment of investment in associate	4,251
Impairment of mineral rights and properties		20,211
Loss on disposal of plant and equipment	45	444
Share-based compensation	4,146	3,842
Reclamation expenditures	(970)	(361)
Income taxes paid	(13,383)	(9,537)
Interest paid	(22)	(43)
Changes in non-cash operating working capital	4,085	(2,010)
Net cash provided by operating activities	91,570	85,643
Plant and equipment
Additions	(11,523)	(13,293)
Proceeds on disposals	880	215
Mineral rights and properties
Capital expenditures	(51,945)	(41,664)
Reclamation deposits
Paid	(1,079)	(317)
Refund	2,962	1,152
Other investments
Acquisition	(23,305)	(3,702)
Proceeds on disposals	1,492	1,035
Investment in associates	(4,997)	(2,055)
Short-term investment
Purchase	(65,585)	(182,299)
Redemption	87,390	214,232
Principal received on lease receivable		172
Net cash used in investing activities	(65,710)	(26,524)
Financing activities
Principal payments on lease obligation	(262)	(597)
Cash dividends distributed	(4,428)	(4,425)
Non-controlling interests
Distribution	(11,088)	(10,880)
Common shares repurchased as part of normal course issuer bid	(1,020)	(2,078)
Net cash used in financing activities	(16,798)	(17,980)
Effect of exchange rate changes on cash and cash equivalents	(1,812)	(8,749)
Increase in cash and cash equivalents	7,250	32,390
Cash and cash equivalents, beginning of the period	145,692	113,302
Cash and cash equivalents, end of the period	152,942	145,692
Supplementary cash flow information

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share capital	Share option reserve	Reserves	Accumulated other comprehensive loss	Retained earnings	Total equity attributable to the equity holders of the Company	Non-controlling interests	Total
Balance at Mar. 31, 2022	$ 255,444	$ 19,369	$ 25,834	$ (1,953)	$ 213,702	$ 512,396	$ 107,718	$ 620,114
Balance (in Shares) at Mar. 31, 2022	177,105,799
Restricted share units vested	$ 2,318	(2,318)
Restricted share units vested (in Shares)	503,703
Share-based compensation		3,842				3,842		3,842
Dividends declared					(4,425)	(4,425)		(4,425)
Common shares repurchased as part of normal course issuer bid	$ (2,078)					(2,078)		(2,078)
Common shares repurchased as part of normal course issuer bid (in Shares)	(838,237)
Distribution to non-controlling interests							(10,880)	(10,880)
Comprehensive income (loss)				(41,290)	20,608	(20,682)	(6,060)	(26,742)
Balance at Mar. 31, 2023	$ 255,684	20,893	25,834	(43,243)	229,885	489,053	90,778	579,831
Balance (in Shares) at Mar. 31, 2023	176,771,265
Restricted share units vested	$ 3,736	(3,736)
Restricted share units vested (in Shares)	928,755
Contribution from non-controlling interests
Share-based compensation		4,146				4,146		4,146
Dividends declared					(4,428)	(4,428)		(4,428)
Common shares repurchased as part of normal course issuer bid	$ (1,020)					(1,020)		(1,020)
Common shares repurchased as part of normal course issuer bid (in Shares)	(388,324)
Distribution to non-controlling interests							(11,088)	(11,088)
Comprehensive income (loss)				(16,802)	36,306	19,504	10,064	29,568
Balance at Mar. 31, 2024	$ 258,400	$ 21,303	$ 25,834	$ (60,045)	$ 261,763	$ 507,255	$ 89,754	$ 597,009
Balance (in Shares) at Mar. 31, 2024	177,311,696

Corporate Information

Corporate Information	12 Months Ended
	Mar. 31, 2024
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 are located in China, and current exploration and development projects are located in China and Mexico. 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.

Material Accounting Policies

Material Accounting Policies	12 Months Ended
	Mar. 31, 2024
Material Accounting Policies [Abstract]
MATERIAL ACCOUNTING POLICIES	2. MATERIAL 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 April 1, 2023. These consolidated financial statements were authorized for issue in accordance with a resolution of the Board of Directors dated May 22, 2024. (b) Adoption of New Accounting Standards, Interpretation or Amendments The Company adopted various amendments to IFRS, which were effective for the accounting period beginning on or after April 1, 2023, including the following: Amendment to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction The amendments to IAS 12 clarify that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements. Amendments to IAS 1 and IFRS Practice Statement 2 – Disclosure of Accounting Policies The amendments require that an entity discloses its material accounting policies, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the IASB has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. This amendment did not have a material impact on the Company’s consolidated financial statements. Amendments to IAS 8 – Definition of Accounting Estimates The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.” The definition of a change in accounting estimates was deleted. However, IASB retained the concept of changes in accounting estimates in IFRS with the following clarification: ● A change in accounting estimate that results from new information or new developments is not the correction of an error. ● The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements. (c) New Accounting Standards Issued but not effective Certain new accounting standards and interpretations have been issued that are not mandatory for the current period and have not been early adopted. Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) The amendments to IAS 1, clarifies the presentation of liabilities. The classification of liabilities as current or noncurrent is based on contractual rights that are in existence at the end of the reporting period and is affected by expectations about whether an entity will exercise its right to defer settlement. A liability not due over the next twelve months is classified as non-current even if management intends or expects to settle the liability within twelve months. The amendment also introduces a definition of ‘settlement’ to make clear that settlement refers to the transfer of cash, equity instruments, other assets, or services to the counterparty. The amendment issued in October 2022 also clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. Covenants to be complied with after the reporting date do not affect the classification of debt as current or non-current at the reporting date. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The implementation of this amendment is not expected to have a material impact on the Company. Lack of Exchangeability (Amendments to IAS 21) The amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. The amendments are effective for annual reporting periods beginning on or after January 1, 2025. The Company is currently evaluating the impact of this amendment. The following new standards or amendments are effective for annual periods beginning on or after January 1, 2024 and are expected to have no impact on the Company’s financial statements: ● Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) ● Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) ● Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28) (d) 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 balance sheets. 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 Name of subsidiaries Principal activity Country of March 31, March 31, 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% New Infini Silver Inc. (“New Infini”) Holding company Canada 46.1% 46.1% Infini Metals Inc. Holding company BVI 46.1% 46.1% Infini Resources (Asia) Co. Ltd. Holding company Hong Kong 46.1% 46.1% Golden Land (Asia) Ltd. Holding company Hong Kong 46.1% 46.1% 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% Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (“Guangdong Found”) Mining China 99% 99% GC Infini Resources S.A. de C.V. Mining Mexico 46.1% 46.1% La Yesca Shanxi Xinbaoyuan Mining Co., Ltd. (“Xinbaoyuan”) Mining China 77.5% 77.5% Kuanping (i) British Virgin Islands (“BVI”) (e) 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 the 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 associates are as follows: Proportion of ownership interest held Name of associate Principal activity Country of March 31, March 31, New Pacific Metals Corp. (“NUAG”) Mining Canada 27.4% 28.2% Tincorp Metals Inc. (“TIN”, formerly Whitehorse Gold Corp.) Mining Canada 29.7% 29.3% (f) Business Combinations or asset acquisition Optional concentration test The Company applies an optional concentration test, on a transaction-by-transaction basis, that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The gross assets under assessment exclude cash and cash equivalents, deferred tax assets, and goodwill resulting from the effects of deferred tax liabilities. If the concentration test is met, the set of activities and assets is determined not to be a business and no further assessment is needed. Asset acquisitions When the Company acquires a group of assets and liabilities that do not constitute a business, the Company identifies and recognizes the individual identifiable assets acquired and liabilities assumed by allocating the purchase price including the associated acquisition-related transaction costs first to financial assets/financial liabilities at the respective fair values, the remaining balance of the purchase price is then allocated to the other identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction does not give rise to goodwill or bargain purchase gain. 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. (g) 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. Other than New Infini and its subsidiaries, 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”). The functional currency of New Infini and its subsidiaries is U.S. dollars (“USD”). Foreign currency monetary assets and liabilities are translated into the functional currency using exchange rates prevailing at the reporting 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 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 reporting 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 consolidated statements of income as part of the gain or loss on sale. (h) 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 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, typically 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. (i) 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. (j) 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. (k) 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. (l) 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 Lesser of useful life or term of the lease 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. (m) 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. (n) Impairment and Impairment Reversal 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 statements 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 (o) 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. (p) Leases 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 pre-determines 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

Segmented Information

Segmented Information	12 Months Ended
	Mar. 31, 2024
Segmented Information [Abstract]
SEGMENTED INFORMATION	3. SEGMENTED INFORMATION The Company’s reportable operating segments are components of the Company where separate 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 Guangdong Guangdong Found GC Other Yunxiang, Xinbaoyuan, and Infini Resources S.A. de C.V. BYP, Kuanping, La Yesca Administrative Vancouver Silvercorp Metals Inc. and holding companies Beijing Silvercorp Metals (China) Inc. (a) Segmented information for operating results is as follows: Year ended March 31, 2024 Mining Administrative Statement of income: Henan Luoning Guangdong Other Beijing Vancouver Total Revenue $ 187,793 $ 27,394 $ - $ - $ - $ 215,187 Costs of mine operations (109,891 ) (24,312 ) (395 ) - - (134,598 ) Income (loss) from mine operations 77,902 3,082 (395 ) - - 80,589 Operating expenses (3,335 ) 291 (41 ) (2,002 ) (7,330 ) (12,417 ) Impairment of investment in associate - - - - (4,251 ) (4,251 ) Finance items, net 2,237 409 (26 ) 174 3,240 6,034 Income tax (expenses) recoveries (13,887 ) (333 ) 7 - (6,064 ) (20,277 ) Net income (loss) $ 62,917 $ 3,449 $ (455 ) $ (1,828 ) $ (14,405 ) $ 49,678 Attributable to: Equity holders of the Company 49,396 3,416 (281 ) (1,828 ) (14,397 ) 36,306 Non-controlling interests 13,521 33 (174 ) - (8 ) 13,372 Net income (loss) $ 62,917 $ 3,449 $ (455 ) $ (1,828 ) $ (14,405 ) $ 49,678 Year ended March 31, 2023 Mining Administrative Statement of income: Henan Luoning Guangdong Other Beijing Vancouver Total Revenue $ 174,868 $ 33,261 $ - $ - $ - $ 208,129 Costs of mine operations (112,092 ) (24,831 ) (423 ) - - (137,346 ) Income (loss) from mine operations 62,776 8,430 (423 ) - - 70,783 Operating expenses (2,540 ) (223 ) (77 ) (1,832 ) (12,153 ) (16,825 ) Impairment of mineral rights and properties - - (20,211 ) - - (20,211 ) Finance items, net 2,526 423 (29 ) 271 (1,795 ) 1,396 Income tax (expenses) recoveries (9,699 ) (617 ) 62 - (3,789 ) (14,043 ) Net income (loss) $ 53,063 $ 8,013 $ (20,678 ) $ (1,561 ) $ (17,737 ) $ 21,100 Attributable to: Equity holders of the Company 41,600 7,935 (9,948 ) (1,561 ) (17,418 ) 20,608 Non-controlling interests 11,463 78 (10,730 ) - (319 ) 492 Net income (loss) $ 53,063 $ 8,013 $ (20,678 ) $ (1,561 ) $ (17,737 ) $ 21,100 (b) Segmented information for assets and liabilities is as follows: March 31, 2024 Mining Administrative Statement of financial position items: Henan Luoning Guangdong Other Beijing Vancouver Total Current assets $ 91,777 $ 9,272 $ 1,048 $ 7,102 $ 92,699 $ 201,898 Plant and equipment 61,350 13,648 2,908 476 1,516 79,898 Mineral rights and properties 264,903 34,409 19,521 - - 318,833 Investment in associates - - - - 49,426 49,426 Other investments 63 - - - 46,191 46,254 Reclamation deposits 1,370 3,032 - - 7 4,409 Long-term prepaids and deposits 1,104 129 91 - 310 1,634 Investment properties 463 - - - - 463 Deferred income tax assets - - - - - - Total assets $ 421,030 $ 60,490 $ 23,568 $ 7,578 $ 190,149 $ 702,815 Current liabilities $ 38,271 $ 5,621 $ 340 $ 212 $ 2,710 $ 47,154 Long-term portion of lease obligation - - $ - - 1,102 1,102 Deferred income tax liabilities 50,001 133 $ 974 - - 51,108 Environmental rehabilitation 4,000 1,486 $ 956 - - 6,442 Total liabilities $ 92,272 $ 7,240 $ 2,270 $ 212 $ 3,812 $ 105,806 March 31, 2023 Mining Administrative Statement of financial position items: Henan Luoning Guangdong Other Beijing Vancouver Total Current assets $ 112,936 $ 20,605 $ 1,149 $ 7,608 $ 76,750 $ 219,048 Plant and equipment 59,854 15,289 3,314 644 958 80,059 Mineral rights and properties 251,150 32,070 20,206 - - 303,426 Investment in associates - - - - 50,695 50,695 Other investments 65 - - - 15,475 15,540 Reclamation deposits 3,626 3,348 - - 7 6,981 Long-term prepaids and deposits 686 89 96 - - 871 Deferred income tax assets - 179 - - - 179 Total assets $ 428,317 $ 71,580 $ 24,765 $ 8,252 $ 143,885 $ 676,799 Current liabilities $ 33,102 $ 5,509 $ 433 $ 226 $ 1,970 $ 41,240 Long-term portion of lease obligation - - - - 314 314 Deferred income tax liabilities 47,065 - 1,031 - - 48,096 Environmental rehabilitation 4,883 1,477 958 - - 7,318 Total liabilities $ 85,050 $ 6,986 $ 2,422 $ 226 $ 2,284 $ 96,968 (c) Sales by metal The sales generated for the year ended March 31, 2024 and 2023 were all earned in China and were comprised of: Year ended March 31, 2024 Henan Luoning Guangdong Total Gold $ 13,024 $ - $ 13,024 Silver 116,364 7,870 124,234 Lead 46,972 5,422 52,394 Zinc 6,904 12,198 19,102 Other 4,529 1,904 6,433 $ 187,793 $ 27,394 $ 215,187 Year ended March 31, 2023 Henan Luoning Guangdong Total Gold $ 6,647 $ - $ 6,647 Silver 105,776 7,816 113,592 Lead 50,477 6,366 56,843 Zinc 7,881 16,942 24,823 Other 4,087 2,137 6,224 174,868 $ 33,261 $ 208,129 (d) Major customers Revenue from major customers is summarized as follows: Year ended March 31, 2024 Customers Henan Luoning Guangdong Total Percentage of total revenue Customer A $ 51,471 $ 4,530 $ 56,001 26 % Customer B 50,697 - 50,697 24 % Customer C 15,844 2,338 18,182 8 % Customer D 39,770 - 39,770 18 % Customer E 20,678 3,227 23,905 11 % $ 178,460 $ 10,095 $ 188,555 87 % Year ended March 31, 2023 Customers Henan Luoning Guangdong Total Percentage of total revenue Customer A $ 33,385 $ - $ 33,385 16 % Customer B 34,331 - 34,331 17 % Customer C 41,547 687 42,234 20 % Customer D 40,443 - 40,443 19 % Customer E 13,111 2,470 15,581 7 % $ 162,817 $ 3,157 $ 165,974 79 %

Government Fees And Other Taxes

Government Fees And Other Taxes	12 Months Ended
	Mar. 31, 2024
Government Fees And Other Taxes [Abstract]
GOVERNMENT FEES AND OTHER TAXES	4. GOVERNMENT FEES AND OTHER TAXES Government fees and other taxes consist of: Years ended March 31, 2024 2023 Government fees $ 61 $ 69 Other taxes 2,580 2,319 $ 2,641 $ 2,388 Government fees include 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.

General and Administrative

General and Administrative	12 Months Ended
	Mar. 31, 2024
General and Administrative [Abstract]
GENERAL AND ADMINISTRATIVE	5. GENERAL AND ADMINISTRATIVE General and administrative expenses consist of: Years ended March 31, 2024 Years ended March 31, 2023 Corporate Mines Total Corporate Mines Total Amortization and depreciation $ 588 $ 1,094 $ 1,682 $ 573 $ 1,189 $ 1,762 Office and administrative expenses 2,042 2,613 4,655 1,834 2,608 4,442 Professional fees 860 565 1,425 669 432 1,101 Salaries and benefits 6,459 6,550 13,009 6,331 6,258 12,589 Share-based compensation 4,146 - 4,146 3,842 - 3,842 $ 14,095 $ 10,822 $ 24,917 $ 13,249 $ 10,487 $ 23,736

Finance Items

Finance Items	12 Months Ended
	Mar. 31, 2024
Finance Items [Abstract]
FINANCE ITEMS	6. FINANCE ITEMS Finance items consist of: Years ended March 31, Finance income 2024 2023 Interest income $ 6,247 $ 4,578 Dividend income - 76 Interest income $ 6,247 $ 4,654 Years ended March 31, Finance costs 2024 2023 Interest on lease obligation $ 22 $ 43 Impairment charges for expected credit loss against bond investments - 2,883 Loss on disposal of bonds - 93 Unwinding of discount of environmental rehabilitation provision (Note 16) 191 239 $ 213 $ 3,258

Income Tax

Income Tax	12 Months Ended
	Mar. 31, 2024
Income Tax [Abstract]
INCOME TAX	7. INCOME TAX (a) Income tax expense The significant components of income tax expense are as follows: Years ended March 31, Income tax expense 2024 2023 Current $ 14,671 $ 9,358 Deferred 5,606 4,685 $ 20,277 $ 14,043 The reconciliation of the Canadian statutory income tax rates to the effective tax rate is as follows: Years ended March, 31 2024 2023 Canadian statutory tax rate 27.00 % 27.00 % Income before income taxes $ 69,955 $ 35,143 Income tax expense computed at Canadian statutory rates 18,888 9,489 Foreign tax rates different from statutory rate (6,579 ) (4,976 ) Permanent items (351 ) (1,048 ) Withholding taxes 6,064 3,789 Change in unrecognized deferred tax assets 2,255 6,789 Income tax expense $ 20,277 $ 14,043 (b) Deferred income tax The continuity of deferred income tax liabilities is summarized as follows: Years ended March, 31 2024 2023 Net deferred income tax liabilities, beginning of the year $ (47,917 ) $ (47,128 ) Deferred income tax expense recognized in net income for the year (5,606 ) (4,685 ) Deferred income tax expense recognized in other comprehensive income for the year - 240 Foreign exchange impact 2,415 3,656 Net deferred income tax liabilities, end of the year $ (51,108 ) $ (47,917 ) The significant components of the Company’s deferred income tax are as follows: March 31, 2024 March 31, 2023 Deferred income tax assets Plant and equipment $ 13,121 $ 2,054 Non-capital loss carry forwards 806 747 Environmental rehabilitation 1,462 1,765 Unrealized loss on investments 503 363 Other deductible temporary difference 327 41 Total deferred income tax assets 16,219 4,970 Deferred income tax liabilities Plant and equipment - (1,905 ) Mineral rights and properties (67,174 ) (50,821 ) Other taxable temporary difference (153 ) (161 ) Total deferred income tax liabilities (67,327 ) (52,887 ) Net deferred income tax liabilities (51,108 ) (47,917 ) Of which -Deferred tax assets - 179 -Deferred tax liabilities $ (51,108 ) $ (48,096 ) 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, 2024 March 31, 2023 Non-capital loss carry forward $ 77,298 $ 65,200 Plant and equipment 2,003 2,553 Mineral rights and properties 6,199 3,562 Other deductible temporary difference 10,108 20,354 $ 95,608 $ 91,669 As at March 31, 2024, the Company has the following net operating losses, expiring in various years to 2044 and available to offset future taxable income in Canada and China, respectively. Canada China Total 2024 792 792 2025 234 234 2026 1,147 1,147 2027 1,684 1,684 2028 1 1,995 1,996 2029 1,083 1,083 2030 6,288 6,288 2031 9,123 9,123 2032 9,389 9,389 2033 7,379 7,379 2034 6,701 6,701 2035 113 113 2036 540 540 2037 2,357 2,357 2038 2,663 2,663 2039 1,988 1,988 2040 3,921 3,921 2041 84 84 2042 6,773 6,773 2043 8,007 8,007 2044 5,036 5,036 $ 71,446 $ 5,852 $ 77,298 As at March 31, 2024, temporary differences of $174.2 million (March 31, 2023 - $188.6 million) 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.

Short-Term Investments

Short-Term Investments	12 Months Ended
	Mar. 31, 2024
Short-Term Investments [Abstract]
SHORT-TERM INVESTMENTS	8. SHORT-TERM INVESTMENTS As at March 31, 2024, short-term investments consist of the following: Carraying Value Interest rates Maturity Bonds $ 1,329 5.50% - 6.90% June 9, 2024 - January 16, 2025 Money market instruments 30,620 $ 31,949 As at March 31, 2023, short-term investments consist of the following: Carraying Value Interest rates Maturity Bonds $ 3,802 5.50% - 13.00% July 17, 2023 - January 16, 2025 Money market instruments 53,829 $ 57,631 During the year ended March 31,2024, the Company recorded a loss of $1.4 million on short-term investments. During the year ended March 31, 2023, the Company recorded impairment charges of $2.9 million against bond investments, and the impairment charges was included in finance costs on the consolidated statement of income.

Inventories

Inventories	12 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
INVENTORIES	9. INVENTORIES Inventories consist of the following: March 31, 2024 March 31, 2023 Concentrate inventory $ 1,525 $ 2,556 Stockpile 2,176 1,234 Material and supplies 3,694 4,553 $ 7,395 $ 8,343 The amount of inventories recognized as expense during the year ended March 31, 2024 was $115.9 million (year ended March 31, 2023 - $119.4 million).

Other Investments

Other Investments	12 Months Ended
	Mar. 31, 2024
Disclosure of Other Investments [Abstract]
OTHER INVESTMENTS	10. OTHER INVESTMENTS March 31, 2024 March 31, 2023 Investments designated as FVTOCI Public companies $ 547 $ 918 Private companies 62 65 609 983 Investments designated as FVTPL Public companies 42,488 11,396 Private companies 3,157 3,161 45,645 14,557 Total $ 46,254 $ 15,540 Investments in publicly traded companies represent equity interests of other publicly-trading mining companies that the Company has acquired through the open market or through private placements. Investments held for trading are classified as FVTPL. For other investments, the Company can make an irrevocable election, on an instrument-by-instrument basis, to designate them as FVTOCI. The continuity of such investments is as follows: Fair Value Accumulated fair Accumulated fair April 1, 2022 $ 17,768 $ (24,336 ) $ 3,703 Loss on equity investments designated as FVTOCI (1,312 ) (1,312 ) - Loss on equity investments designated as FVTPL (2,318 ) - (2,318 ) Acquisition 3,702 - - Disposal (1,035 ) - - Impact of foreign currency translation (1,265 ) - - March 31, 2023 $ 15,540 $ (25,648 ) $ 1,385 Gain on equity investments designated as FVTOCI (67 ) (67 ) - Gain on equity investments designated as FVTPL 9,074 - 9,074 Acquisition 23,305 - - Disposal (1,492 ) - - Impact of foreign currency translation (106 ) - - March 31, 2024 $ 46,254 $ (25,715 ) $ 10,459 On August 6, 2023, the Company and OreCorp Limited (ASX: ORR) (“OreCorp”) announced the signing of a binding scheme implementation deed (the “Agreement”) whereby the Company will acquire all fully-paid ordinary shares of OreCorp not held by the Company or its associates (the “OreCorp Shares”), pursuant to an Australian scheme of arrangement under Part 5.1 of the Corporation Act 2001(Cth) (the “Scheme”), subject to the satisfaction and/or waiver of various conditions, whereby each holder of OreCorp Shares will receive, for each OreCorp Share held, 0.15 Australian dollar (“A$”) in cash and 0.0967 of a Silvercorp common share. Concurrently with entering into the Agreement, the Company and OreCorp entered into a placement agreement, whereby Silvercorp agreed to purchase 70,411,334 new fully-paid ordinary shares of OreCorp at a price of A$0.40 per OreCorp Share for aggregate proceeds of approximately $18.5 million (A$28.0 million). The placement was completed in August 2023, and as a result, the Company held approximately 15% of the total outstanding ordinary shares of OreCorp. Subsequent to the private placement, the Company acquired additional 3,477,673 OreCorp Shares on the market through the Australian Securities Exchange (the “ASX”) for approximately $1.1 million, and as of December 31, 2023, the Company held 73,889,007 OreCorp Shares, representing 15.74% of the total outstanding ordinary shares of OreCorp. The Agreement and the Scheme were amended and restated on November 23, 2023 (the “Amending Deed”) to increase the cash consideration from A$0.15 to A$0.19 with no change to the share consideration, being 0.0967 of a Silvercorp common share, for each OreCorp Share. As a result of Perseus Mining Limited (“Perseus”) acquiring 19.9% relevant interest in OreCorp and indicating they would vote against the Scheme, on December 26, 2023, the Company and OreCorp entered into a Bid Implementation Deed (“BID”), pursuant to which Silvercorp has agreed to acquire, by means of an off-market takeover offer, all of the OreCorp Shares not already owned by Silvercorp for consideration comprising 0.0967 common shares of Silvercorp and A$0.19 cash per OreCorp Share (the “Consideration”). The offer is subject to minimal conditions, including Silvercorp having a relevant interest in at least 50.1% of the OreCorp Shares. As with the Scheme, under certain circumstances a break fee of approximately A$2.8 million will be payable by OreCorp to Silvercorp if the BID is terminated. In March 2024, the Company announced that it had been unable to obtain a minimum of 50.1% interest in OreCorp pursuant to its off-market takeover offer for OreCorp’s shares and elected not to exercise its right to match Perseus’ competing offer for OreCorp. In April 2024, the Company accepted Perseus’ offer and received approximately A$42.5 million from Perseus for the investments in OreCorp shares and A$2.8 million break fee from OreCorp. As of March 31, 2024, the Company recorded a gain of $7.7 million on mark to market due to the changes of OreCorp share price since the Company’s initial investment in OreCorp in August 2023. The transaction costs related to the proposed acquisition of OreCorp, net of the break fee, was a recovery of $0.3 million, and recorded as property evaluation and business development expenses on the consolidated statements of income for the year ended March 31, 2024.

Investment in Associates

Investment in Associates	12 Months Ended
	Mar. 31, 2024
Investment in Associates [abstract]
INVESTMENT IN ASSOCIATES	11. INVESTMENT IN ASSOCIATES (a) Investment in New Pacific Metals Corp. New Pacific Metals Corp. (“NUAG”) is a Canadian public company listed on the Toronto Stock Exchange (symbol: NUAG) and NYSE American (symbol: NEWP). NUAG is a related party of the Company by way of one common director and one common 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. In September 2023, the Company participated in a bought deal financing of common shares of NUAG to acquire an additional 2,541,890 common shares of NUAG for a cost of approximately $5.0 million. As a result of the financing, the Company’s ownership in NUAG was diluted to 27.4% and a dilution gain of $0.7 million was recorded in the consolidated statements of income. The Company acquired additional 11,200 common shares from the public market (year ended March 31, 2023 – 309,400) for a total cost of $15 (year ended March 31, 2023 - $874) during the year ended March 31, 2024. As at March 31, 2024, the Company owned 46,904,706 common shares of NUAG (March 31, 2023 – 44,351,616), representing an ownership interest of 27.4% (March 31, 2023 – 28.2%). The summary of the investment in NUAG common shares and its market value as at the respective reporting dates are as follows: Number of shares Amount Value of NUAG’s Balance, April 1, 2022 44,042,216 $ 49,437 $ 140,275 Purchase from open market 309,400 874 Share of net loss (2,411 ) Share of other comprehensive loss (894 ) Foreign exchange impact (3,753 ) Balance, March 31, 2023 44,351,616 $ 43,253 $ 119,621 Participation in bought deal 2,541,890 4,982 Purchase from open market 11,200 15 Dilution Gain 733 Share of net loss (1,784 ) Share of other comprehensive loss (28 ) Foreign exchange impact (91 ) Balance, March 31, 2024 46,904,706 $ 47,080 $ 63,693 Summarized financial information for the Company’s investment in NUAG on a 100% basis is as follows: Years ended March 31, 2024 (1) 2023 (1) Net loss attributable to NUAG’s shareholders as reported by NUAG $ (6,404 ) $ (8,569 ) Net loss of NUAG qualified for pick-up (6,404 ) (8,569 ) Other comprehensive income (loss) attributable to NUAG’s shareholders as reported by NUAG shareholders as reported by NUAG (104 ) (3,161 ) Comprehensive loss of NUAG qualified for pick-up $ (6,508 ) $ (11,730 ) Company’s share of net loss (1,784 ) (2,411 ) Company’s share of other comprehensive income (loss) (28 ) (894 ) Company’s share of comprehensive loss $ (1,812 ) $ (3,305 ) (1) As at March 31, 2024 March 31, 2023 Current assets $ 24,509 $ 12,020 Non-current assets 114,048 107,788 Total assets $ 138,557 $ 119,808 Current liabilities 842 3,493 Total liabilities $ 842 $ 3,493 Net assets $ 137,715 $ 116,315 Non-controlling interests (155 ) (88 ) Total equity attributable to equity holders of NUAG $ 137,870 $ 116,403 Company’s share of net assets of associate $ 37,719 $ 32,794 Fair value adjustments 9,361 10,459 Carrying value of the investment in NUAG $ 47,080 $ 43,253 The difference between the carrying value of the Company’s investment in NUAG and the Company’s share of NUAG’s net asset primarily arises on fair value adjustments upon acquisitions of the investment and subsequent measurements. (b) Investment in Tincorp Metals Inc. Tincorp Metals Inc. (“TIN”), formerly Whitehorse Gold Corp., is a Canadian public company listed on the TSX Venture Exchange (symbol: TIN). TIN is a related party of the Company by way of one common director and one common officer, and the Company accounts for its investment in TIN using the equity method as it is able to exercise significant influence over the financial and operating policies of TIN. In December 2023, the Company participated in a non-brokered private placement of TIN and purchased 4,000,000 units at a cost of $1.2 million. Each unit was comprised of one TIN common share and one-half common share purchase warrant at exercise price of CAD$0.65 per share. The common share purchase warrant expires on December 15, 2024. In January 2024, the Company and TIN entered into an interest-free unsecured credit facility agreement with no conversion features (the “Facility”) to allow TIN to advance up to $1.0 million from the Company. Upon signing the Facility, the Company advanced $0.5 million to TIN and received 350,000 common shares of TIN as the Bonus Shares for granting the Facility. In April 2024, the Company provided the remaining $0.5 million to TIN. The Facility has a maturity date of January 31, 2025. As at March 31, 2024, the Company owned 19,864,285 common shares of TIN (March 31, 2023 – 19,514,285), representing an ownership interest of 29.7% (March 31, 2023 – 29.3%). The summary of the investment in TIN common shares and its market value as at the respective reporting dates are as follows: Number of shares Amount Value of TIN’s Balance, April 1, 2022 15,514,285 $ 7,404 $ 6,208 Participation in private placement 4,000,000 1,181 Dilution loss (107 ) Share of net loss (490 ) Share of other comprehensive income 8 Foreign exchange impact (554 ) Balance, March 31, 2023 19,514,285 $ 7,442 $ 6,777 Tincorp shares received under credit facility agreement 350,000 78 Share of net loss (908 ) Share of other comprehensive income (8 ) Impairment (4,251 ) Foreign exchange impact (7 ) Balance, March 31, 2024 19,864,285 $ 2,346 $ 2,346 Based on TIN’s financial conditions and share price performance, the Company determined that there was objective evidence that the Company’s investment in TIN is impaired as at March 31, 2024. Accordingly, the Company wrote down the carrying value of the investment to the fair value of the investment to the market price of TIN’s common shares as at March 31, 2024, and an impairment loss of approximately $4.3 million (year ended March 31, 2023 - $ nil Summarized financial information for the Company’s investment in TIN on a 100% basis is as follows: Year ended March 31, 2024 (1) 2023 (1) Net loss attributable to TIN’s shareholders as reported by TIN $ (3,075 ) $ (1,666 ) Other comprehensive income attributable to TIN’s shareholders as reported by TIN (26 ) 30 Comprehensive loss of TIN qualified for pick-up (3,101 ) (1,636 ) Company’s share of net loss (908 ) (490 ) Company’s share of other comprehensive income (8 ) 8 Company’s share of comprehensive loss $ (916 ) $ (482 ) (1) As at March 31, 2024 March 31, 2023 Current assets $ 250 $ 2,640 Non-current assets 20,899 20,701 Total assets $ 21,149 $ 23,341 Current liabilities 1,303 746 Total liabilities $ 1,303 $ 746 Net assets $ 19,846 $ 22,595 Company’s share of net assets of associate $ 5,892 $ 6,625 Fair value adjustments (3,546 ) 817 Carrying value of the investment in TIN $ 2,346 $ 7,442 The difference between the carrying value of the Company’s investment in TIN and the Company’s share of TIN’s net assets primarily arises on fair value adjustments upon acquisitions of the investment and subsequent measurements including impairment recognized.

Investment Properties

Investment Properties	12 Months Ended
	Mar. 31, 2024
Investment Properties [Abstract]
INVESTMENT PROPERTIES	12. INVESTMENT PROPERTIES Investment properties consist of: Cost Total Balance, March 31, 2023 $ - Additions 287 Transfer from property, plant, and equipment 837 Impact of foreign currency translation (9 ) Balance, March 31, 2024 $ 1,115 Accumulated depreciation and amortization Balance, March 31, 2023 $ - Depreciation and amortization (39 ) Transfer from property, plant, and equipment (619 ) Impact of foreign currency translation 6 Balance, March 31, 2024 $ (652 ) Carrying amounts Balance, March 31, 2023 $ - Balance, March 31, 2024 $ 463 Investment properties include real estate properties that are rented out to earn rental income. The investment properties were initially recorded at cost, and subsequently measured at cost less accumulated depreciation. Depreciation is computed on a straight-line basis based on the nature and an estimated 20 years’ useful life of the asset. The Company did not engage an independent valuer to value the properties, and the fair value of the properties estimated based on the quoted market prices for the similar real estate properties in the nearby neighborhoods were approximately $2.8 million as at March 31,2024. During the year ended March 31, 2024, the Company recorded rental income of $0.1 million, which was included in other expenses on the consolidated statements of income.

Plant and Equipment

Plant and Equipment	12 Months Ended
	Mar. 31, 2024
Plant and Equipment [Abstract]
PLANT AND EQUIPMENT	13. PLANT AND EQUIPMENT Plant and equipment consist of: Cost Land use rights Office Machinery Motor Construction Total Balance as at April 1, 2022 $ 117,247 $ 11,009 $ 34,379 $ 8,313 $ 2,603 $ 173,551 Additions 499 1,169 3,097 879 9,925 15,569 Disposals (985 ) (511 ) (1,085 ) (494 ) - (3,075 ) Reclassification of asset groups 4,400 33 655 - (5,088 ) - Impact of foreign currency translation (9,040 ) (821 ) (2,672 ) (636 ) (212 ) (13,381 ) Balance as at March 31, 2023 $ 112,121 $ 10,879 $ 34,374 $ 8,062 $ 7,228 $ 172,664 Additions 1,020 853 1,965 609 8,469 12,916 Disposals (1,082 ) (234 ) (1,033 ) (290 ) - (2,639 ) Reclassification of asset groups 2,209 461 840 (410 ) (3,100 ) - Impact of foreign currency translation (5,459 ) (495 ) (1,723 ) (394 ) (404 ) (8,475 ) Ending balance as at March 31, 2024 $ 108,809 $ 11,464 $ 34,423 $ 7,577 $ 12,193 $ 174,466 Impairment, accumulated depreciation and amortization Balance as at April 1, 2022 $ (57,584 ) $ (7,232 ) $ (23,665 ) $ (5,652 ) $ - $ (94,133 ) Disposals 733 500 767 407 - 2,407 Depreciation and amortization (4,373 ) (940 ) (2,162 ) (660 ) - (8,135 ) Impact of foreign currency translation 4,443 530 1,847 436 - 7,256 Balance as at March 31, 2023 $ (56,781 ) $ (7,142 ) $ (23,213 ) $ (5,469 ) $ - $ (92,605 ) Disposals 778 216 291 211 - 1,496 Depreciation and amortization (4,315 ) (1,031 ) (2,263 ) (390 ) - (7,999 ) Impact of foreign currency translation 2,777 316 1,176 271 - 4,540 Ending balance as at March 31, 2024 $ (57,541 ) $ (7,641 ) $ (24,009 ) $ (5,377 ) $ - $ (94,568 ) Carrying amounts Balance as at March 31, 2023 $ 55,340 $ 3,737 $ 11,161 $ 2,593 $ 7,228 $ 80,059 Ending balance as at March 31, 2024 $ 51,268 $ 3,823 $ 10,414 $ 2,200 $ 12,193 $ 79,898 Tables below summarized the carrying amount of the plant and equipment used at each operation segments of the Company. Carrying amounts as at March 31, 2024 Ying Mining District GC Other Corporate Total Land use rights and building $ 37,669 $ 9,629 $ 2,183 $ 1,787 $ 51,268 Office equipment 3,185 415 46 177 3,823 Machinery 6,942 3,344 128 - 10,414 Motor vehicles 1,905 198 69 28 2,200 Construction in progress 11,649 62 482 - 12,193 Total $ 61,350 $ 13,648 $ 2,908 $ 1,992 $ 79,898 Carrying amounts as at March 31, 2023 Ying Mining District GC Other Corporate Total Land use rights and building $ 41,155 $ 10,403 $ 2,490 $ 1,292 $ 55,340 Office equipment 2,991 440 63 243 3,737 Machinery 7,433 3,568 160 - 11,161 Motor vehicles 2,067 367 92 67 2,593 Construction in progress 6,208 511 509 - 7,228 Total $ 59,854 $ 15,289 $ 3,314 $ 1,602 $ 80,059

Mineral Rights and Properties

Mineral Rights and Properties	12 Months Ended
	Mar. 31, 2024
Mineral Rights and Properties [Abstract]
MINERAL RIGHTS AND PROPERTIES	14. MINERAL RIGHTS AND PROPERTIES Mineral rights and properties consist of: Producing and development properties Exploration and evaluation properties Cost Ying Mining District BYP GC Kuanping La Yesca Total Balance as at April 1, 2022 $ 397,335 $ 65,092 $ 124,906 $ 13,380 $ 19,335 $ 620,048 Capitalized expenditures 35,632 - 4,839 907 876 42,254 Environmental rehabilitation (224 ) (36 ) 12 - - (248 ) Foreign currency translation impact (30,731 ) (1,192 ) (9,639 ) (1,034 ) - (42,596 ) Balance as at March 31, 2023 $ 402,012 $ 63,864 $ 120,118 $ 13,253 $ 20,211 $ 619,458 Capitalized expenditures 44,633 - 6,202 290 - 51,125 Environmental rehabilitation 89 20 151 - - 260 Foreign currency translation impact (20,174 ) (698 ) (5,914 ) (658 ) - (27,444 ) Balance as at March 31, 2024 $ 426,560 $ 63,186 $ 120,557 $ 12,885 $ 20,211 $ 643,399 Impairment and accumulated depletion Balance as at April 1, 2022 $ (143,264 ) $ (57,521 ) $ (92,815 ) $ - $ - $ (293,600 ) Impairment - - - - (20,211 ) (20,211 ) Depletion (18,689 ) - (2,398 ) - - (21,087 ) Foreign currency translation impact 11,091 610 7,165 - - 18,866 Balance as at March 31, 2023 $ (150,862 ) $ (56,911 ) $ (88,048 ) $ - $ (20,211 ) $ (316,032 ) Depletion (18,379 ) - (2,405 ) - - (20,784 ) Foreign currency translation impact 7,584 361 4,305 - - 12,250 Balance as at March 31, 2024 $ (161,657 ) $ (56,550 ) $ (86,148 ) $ - $ (20,211 ) $ (324,566 ) Carrying amounts Balance as at March 31, 2023 $ 251,150 $ 6,953 $ 32,070 $ 13,253 $ - $ 303,426 Balance as at March 31, 2024 $ 264,903 $ 6,636 $ 34,409 $ 12,885 $ - $ 318,833 During the year ended March 31, 2023, the Company completed the review and evaluation on the results of the drilling program completed in Fiscal 2023. The Company does not plan to undertake further significant work at the La Yesca Project in the near future. As a result, the decision was taken to impair fully the value of the La Yesca Project and recognized an impairment charge of $20.2 million in the consolidated statements of income.

Leases

Leases	12 Months Ended
	Mar. 31, 2024
Leases [Abstract]
LEASES	15. LEASES The following table summarizes changes in the Company’s lease receivable and lease obligation related to the Company’s office lease and sublease. Lease Receivable Lease Obligation Balance, April 1, 2022 $ 182 $ 1,263 Interest accrual 4 43 Interest received or paid (4 ) (43 ) Principal repayment (172 ) (597 ) Foreign exchange impact (10 ) (83 ) Balance, March 31, 2023 $ - $ 583 Addition - 998 Interest accrual - 22 Interest received or paid - (22 ) Principal repayment - (262 ) Foreign exchange impact - (4 ) Balance, March 31, 2024 $ - $ 1,315 Less: current portion - (213 ) Non-current portion $ - $ 1,102 The following table presents a reconciliation of the Company’s undiscounted cash flows to their present value for its lease obligation as at March 31, 2024: Lease Obligation Within 1 year $ 284 Between 2 to 5 years 1,095 Over 5 years 338 Total undiscounted amount 1,717 Less future interest (402 ) Total discounted amount $ 1,315 Less: current portion (213 ) Non-current portion $ 1,102 During the year ended March 31, 2024, the Company renewed and extended the existing office to May 31, 2030 with total contract cash payment of $1.7 million over the next six years. The lease obligation was discounted at a discount rate of 9.2% as at March 31, 2024 (March 31, 2023 – 5%).

Environmental Rehabilitation Ob

Environmental Rehabilitation Obligation	12 Months Ended
	Mar. 31, 2024
Environmental Rehabilitation Obligation [Abstract]
ENVIRONMENTAL REHABILITATION OBLIGATION	16. ENVIRONMENTAL REHABILITATION OBLIGATION The following table presents the reconciliation of the beginning and ending obligations associated with the retirement of the properties: Total Balance, April 1, 2022 $ 8,739 Reclamation expenditures (740 ) Unwinding of discount of environmental rehabilitation 239 Revision of provision (248 ) Foreign exchange impact (672 ) Balance, March 31, 2023 $ 7,318 Reclamation expenditures (970 ) Unwinding of discount of environmental rehabilitation 191 Revision of provision 259 Foreign exchange impact (356 ) Balance, March 31, 2024 $ 6,442 As at March 31, 2024, the total undiscounted amount of estimated cash flows required to settle the Company’s environmental rehabilitation provision was $8.6 million (March 31, 2023 - $10.2 million) over the next twenty years, which has been discounted using an average discount rate of 2.26% (March 31, 2023 – 2.83%). During the year ended March 31, 2024, the Company incurred actual reclamation expenditures of $1.0 million (year ended March 31, 2023 - $0.7 million), paid reclamation deposit of $1.1 million (year ended March 31, 2023 - $0.3 million) and received $3.0 million reclamation deposit refund (year ended March 31, 2023 - $1.2 million). Estimated future reclamation costs are based on the extent of work required and the associated costs are dependent on the requirements of relevant authorities and the Company’s environmental policies. In view of uncertainties concerning environmental rehabilitation obligations, the ultimate costs could be materially different from the amounts estimated.

Share Capital

Share Capital	12 Months Ended
	Mar. 31, 2024
Share Capital [Abstract]
SHARE CAPITAL	17. SHARE CAPITAL (a) Authorized Unlimited number of common shares without par value. All shares issued as at March 31,2024 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, 2024, a total of $4.1 million (year ended March 31, 2023 - $3.8 million) in share-based compensation expense was recognized and included in the corporate general and administrative expenses and property evaluation and business development expenses on the consolidated statements of income. (i) Stock options The following is a summary of option transactions: Number of options Weighted average Balance, April 1, 2022 995,335 $ 7.28 Option granted 595,000 3.95 Options cancelled/forfeited (158,667 ) 6.29 Balance, March 31, 2023 1,431,668 $ 6.01 Options cancelled/forfeited (104,667 ) 5.83 Balance, March 31, 2024 1,327,001 $ 6.02 The following table summarizes information about stock options outstanding as at March 31, 2024: Exercise price in CAD Number of options Weighted average Weighted average Number of options Weighted average $ 3.93 438,000 3.07 $ 3.93 219,000 $ 3.93 $ 4.08 60,000 3.90 $ 4.08 20,000 $ 4.08 $ 5.46 454,001 1.15 $ 5.46 454,001 $ 5.46 $ 9.45 375,000 1.62 $ 9.45 375,000 $ 9.45 $3.93 to $9.45 1,327,001 2.04 $ 6.02 1,068,001 $ 6.52 The options were granted to directors, officers, and employees with a life of five years subject to a vesting schedule over a three-year term with 1/6 of the options vesting every six months from the date of grant until fully vested. Subsequent to March 31, 2024, a total of 330,000 options were granted to directors, officers, and employees of the Company with exercise price of CAD$4.41 per share subject to a vesting schedule over a three-year term with 1/6 of the options vesting every six months from the date of grant until fully vested. Subsequent to March 31, 2024, a total of 10,000 options with an exercise price of CAD$3.93 were exercised. (ii) RSUs The following is a summary of RSUs transactions: Number of units Weighted average Balance, March 31, 2022 1,636,165 $ 6.47 Granted 1,154,000 3.96 Forfeited (159,792 ) 5.44 Distributed (503,703 ) 6.04 Balance, March 31, 2023 2,126,670 $ 5.29 Granted 1,056,000 5.28 Forfeited (113,665 ) 5.04 Distributed (928,755 ) 5.44 Balance, at March 31, 2024 2,140,250 $ 5.23 During the year ended March 31, 2024, a total of 1,056,000 RSUs were granted to directors, officers, and employees of the Company at grant date closing prices of CAD$5.28 per share subject to a vesting schedule over a three-year term with 1/6 of the RSUs vesting every six months from the date of grant. Subsequent to March 31, 2024, a total of 1,044,750 RSUs were granted to directors, officers, and employees of the Company subject to a vesting schedule over a three-year term with 1/6 of the RSUs vesting every six months from the date of grant. Subsequent to March 31, 2024, a total of 296,662 RSUs with grant date closing prices of CAD$3.93 to CAD$9.45 were distributed. (c) Cash dividends declared During the year ended March 31, 2024, dividends of $4.4 million, or $0.025 per share, (year ended March 31, 2023 - $4.4 million or $0.025 per share) were declared and paid. (d) Normal course issuer bid On August 25, 2021, the Company announced a normal course issuer bid (the “2021 NCIB”) which allows it to repurchase and cancel up to 7,054,000 of its own common shares until August 26, 2022. A total of 739,960 common shares were repurchased under 2021 NCIB at a weighted average price of CAD$3.25. On August 24, 2022, the Company announced a normal course issuer bid (the “2022 NCIB”, together with the 2021 NCIB, the “NCIB Programs”) which allows it to repurchase and cancel up to 7,079,407 of its own common shares until August 28, 2023. A total of 294,831 common shares were repurchased under 2022 NCIB at a weighted average price of CAD$3.49. On September 15, 2023, the Company announced a normal course issuer bid (the “2023 NCIB”), which allowed the Company to repurchase and cancel up to 8,487,191 of its own common shares until September 18, 2024. As of March 31, 2024, the Company has repurchased a total of 191,770 common shares under the 2023 NCIB at a weighted average price of CAD$3.16. The total repurchasing cost of the above mentioned NCIB Programs was $3.1 million. All shares bought were subsequently cancelled. (e) Earnings per share (basic and diluted) For the years ended March 31, 2024 2023 Income (Numerator) Shares (Denominator) Per-Share Amount Income (Numerator) Shares (Denominator) Per-Share Amount Net income attributable to equity holders of the Company $ 36,306 $ 20,608 Basic earnings per share 36,306 176,997,360 $ 0.21 20,608 176,862,877 $ 0.12 Effect of dilutive securities: Stock options and RSUs 2,140,250 2,126,672 Diluted earnings per share $ 36,306 179,137,610 $ 0.20 $ 20,608 178,989,549 $ 0.12 Anti-dilutive options that are not included in the diluted EPS calculation were 1,327,001 for the year ended March 31, 2024 (year ended March 31, 2023 – 1,431,668).

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Mar. 31, 2024
Accumulated Other Comprehensive Loss [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	18. ACCUMULATED OTHER COMPREHENSIVE LOSS March 31, 2024 March 31, 2023 Change in fair value on equity investments designated as FVTOCI $ 24,421 $ 24,355 Share of other comprehensive loss in associate 1,449 1,380 Currency translation adjustment 34,175 17,508 Balance, end of the year $ 60,045 $ 43,243 The change in fair value on equity investments designated as FVTOCI, share of other comprehensive loss in associates, and currency translation adjustment are net of tax of $ nil

Non-Controlling Interests

Non-Controlling Interests	12 Months Ended
	Mar. 31, 2024
Non-Controlling Interests [Abstract]
NON-CONTROLLING INTERESTS	19. NON-CONTROLLING INTERESTS The continuity of non-controlling interests is summarized as follows: Henan Henan Yunxiang Guangdong New Infini Total Balance, April 1, 2022 $ 89,669 $ 4,928 $ 2,915 $ (181 ) $ 10,387 $ 107,718 Share of net income (loss) 11,584 (121 ) (157 ) 78 (10,892 ) 492 Share of other comprehensive loss (6,037 ) (351 ) (118 ) (46 ) - (6,552 ) Distributions (9,934 ) (946 ) - - - (10,880 ) Balance, March 31, 2023 $ 85,282 $ 3,510 $ 2,640 $ (149 ) $ (505 ) $ 90,778 Share of net income (loss) 12,846 673 (151 ) 33 (29 ) 13,372 Share of other comprehensive loss (3,063 ) (55 ) (96 ) (94 ) - (3,308 ) Distributions (10,088 ) (950 ) - (50 ) - (11,088 ) Balance, March 31, 2024 $ 84,977 $ 3,178 $ 2,393 $ (260 ) $ (534 ) $ 89,754 As at March 31, 2024, non-controlling interests in Henan Found, Henan Huawei, Yunxiang, Guangdong Found and New Infini were 22.5%, 20%, 30%, 1%, and 53.9%, respectively (March 31, 2023 – 22.5%, 20%, 30%, 1%, and 53.9%, respectively). During the year ended March 31, 2024, Henan Found declared and paid dividends of $7.9 million (year ended March 31, 2023 – declared and paid dividends of $7.7 million) to Henan Non-ferrous Geology Minerals Ltd. (“Henan Non-ferrous”), who held 17.5% equity interest in Henan Found. During the year ended March 31, 2024, Henan Non-ferrous transferred 12.25% equity interest of Henan Found to Henan First Geological Brigade Ltd. (“First Geological Brigade”), a company who has the same ultimate parent company as Henan Non-ferrous. As at March 31, 2024, Henan Non-ferrous is the 5.25% equity holder of Henan Found and First Geological Brigade is the 12.25% equity holder of Henan Found. Henan Xinxiangrong Mining Ltd. (“Henan Xinxiangrong”) is the 5% equity interest holder of Henan Found. During the year ended March 31, 2024, Henan Found declared and paid dividends of $2.2 million (year ended March 31, 2023 – declared and paid dividends of $2.2 million) 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, 2024, Henan Huawei declared and paid dividends of $0.9 million (year ended March 31, 2023 – $0.9 million) to Henan Xinhui. GRT Mining Investment (Beijing) Co., Ltd. (“GRT”) is a 1% equity interest holder of Guangdong Found. For the year ended March 31, 2024, Guangdong Found declared and paid dividends of $50 thousand (year ended March 31, 2023 - $ nil

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	20. RELATED PARTY TRANSACTIONS Related party transactions are made on terms agreed upon by the related parties. The balances with related parties are unsecured, non-interest bearing, and due on demand. Related party transactions not disclosed elsewhere in the consolidated financial statements are as follows: (a) Due from related parties March 31, 2024 March 31, 2023 NUAG (i) $ 28 $ 51 TIN (ii) 562 37 $ 590 $ 88 i. 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, 2024, the Company recovered $1.0 million (year ended March 31, 2023 - $1.0 million) 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. ii. The Company recovers costs for services rendered to TIN and expenses incurred on behalf of TIN pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2024, the Company recovered $0.3 million (year ended March 31, 2023 - $0.2 million) from TIN for services rendered and expenses incurred on behalf of TIN. The costs recovered from TIN were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income. In January 2024, the Company and TIN entered into an interest-free unsecured credit facility agreement with no conversion features (the “Facility”) to allow TIN to advance up to $1.0 million from the Company. As of March 31, 2024, the Company advanced $0.5 million to TIN and received 350,000 common shares of TIN as the Bonus Shares for granting the Facility. Subsequent to March 31, 2024, the Company advanced the remaining $0.5 million to TIN. (b) 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, 2024 and 2023 were as follows: Years Ended March 31, 2024 2023 Cash compensation $ 3,403 $ 3,057 Share-based compensation 2,487 3,764 $ 5,890 $ 6,821

Capital Disclosures

Capital Disclosures	12 Months Ended
	Mar. 31, 2024
Capital Disclosure [Abstract]
CAPITAL DISCLOSURES	21. 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.

Financial Instruments

Financial Instruments	12 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
FINANCIAL INSTRUMENTS	22. 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, 2024 and March 31, 2023 that are not otherwise disclosed. As required by IFRS 13, 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, 2024 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 152,942 $ - $ - $ 152,942 Short-term investments - money market instruments 30,620 - - 30,620 Investments in public companies 41,818 - 1,217 43,035 Investments in private companies - - 3,219 3,219 Fair value as at March 31, 2023 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 145,692 $ - $ - $ 145,692 Short-term investments - money market instruments 53,829 - - 53,829 Investments in public companies 12,314 - - 12,314 Investments in private companies - - 3,226 3,226 Financial assets classified within Level 3 are equity investments in private companies and one public company which are suspended from quotation owned by the Company. Significant unobservable inputs are used to determine the fair value of the financial assets, which includes recent arm’s length transactions of the investee, the investee’s financial performance as well as any changes in planned milestones of the investees. Fair value of the other financial instruments excluded from the table above approximates their carrying amount as at March 31, 2024 and March 31, 2023, due to the short-term nature of these instruments. During the year ended March 31, 2024, equity investments in one public company which was suspended from quotation were transferred into Level 3 (year ended March 31, 2023 – nil (b) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they arise. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. Cash flow forecasting is performed regularly to ensure that there is sufficient capital in order to meet short-term business requirements, after considering cash flows from operations and our holdings of cash and cash equivalents, and short-term investments. 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 and operating commitments on an undiscounted basis. March 31, 2024 Within a year 2-5 years Over 5 years Total Accounts payable and accrued liabilities $ 41,797 $ - $ - $ 41,797 Lease obligation 284 1,095 338 1,717 Deposits received 4,223 - - 4,223 Total Contractual Obligation $ 46,304 $ 1,095 $ 338 $ 47,737 (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 the Canadian dollar (“CAD”) and the functional currency of all Chinese subsidiaries is the Chinese yuan (“RMB”). The functional currency of New Infini and its subsidiaries is the US dollar (“USD”). 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 sensitivity of the Company’s net income due to the exchange rates of the Canadian dollar against the U.S. dollar and the Australian dollar as at March 31, 2024 is summarized as follows: Cash and cash Short-term Other investments Accounts payable Net financial Effect of +/- 10% US dollar $ 87,557 $ 1,329 $ 2,594 $ (169 ) $ 91,311 $ 9,131 Australian dollar 381 - 30,965 (737 ) 30,609 3,061 $ 87,938 $ 1,329 $ 33,559 $ (906 ) $ 121,920 $ 12,192 (d) Interest rate risk The Company is exposed to interest rate risk on its cash equivalents and short-term investments. As at March 31, 2024, 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 Company monitors its exposure to changes in interest rates on cash equivalents and short-term investments. 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 material amounts in trade or other receivables which were past due on March 31, 2024 (at March 31, 2023 - $ nil (f) Equity price risk The Company holds certain marketable securities that will fluctuate in value as a result of trading on 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, 2024, 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 the net income (loss) and other comprehensive income (loss) of $4.2 million and $0.1 million, respectively.

Supplementary Cash Flow Informa

Supplementary Cash Flow Information	12 Months Ended
	Mar. 31, 2024
Supplementary Cash Flow Information [Abstract]
SUPPLEMENTARY CASH FLOW INFORMATION	23. SUPPLEMENTARY CASH FLOW INFORMATION Year Ended March 31, Changes in non-cash operating working capital: 2024 2023 Trade and other receivables $ (479 ) $ 936 Inventories 610 79 Prepaids and deposits (2,411 ) (50 ) Accounts payable and accrued liabilities 6,549 (2,009 ) Deposits received 398 (938 ) Due from a related party (582 ) (28 ) $ 4,085 $ (2,010 ) Year Ended March 31, Non-cash capital transactions: 2024 2023 Environmental rehablitation expenditure paid from reclamation deposit $ - $ 379 Additions of plant and equipment included in accounts payable and accrued liabilities 1,393 2,276 Capital expenditures of mineral rights and properties included in accounts payable and accrued liabilities $ (922 ) $ 590 March 31, 2024 March 31, 2023 Cash on hand and at bank $ 112,355 $ 50,871 Bank term deposits and short-term money market investments 40,587 94,821 Total cash and cash equivalents $ 152,942 $ 145,692

Subsequent Event

Subsequent Event	12 Months Ended
	Mar. 31, 2024
Disclosure of Other Investments [Abstract]
SUBSEQUENT EVENT	24. SUBSEQUENT EVENT On April 26, 2024, the Company and Adventus Mining Corporation(“Adventus”) (TSX: ADZN) (OTCQX: ADVZF) announced the signing of a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which the Company has agreed to acquire all of the issued and outstanding common shares of Adventus (the “Transaction”) by way of a plan of arrangement (the “Arrangement”). Under the terms of the Arrangement Agreement, each holder of the common shares of Adventus (each, an “Adventus Share”) will receive 0.1015 of one Silvercorp common share (each, a “Silvercorp Share”) in exchange for each Adventus Share (the “Exchange Ratio”) at the effective time of the Transaction. The Exchange Ratio implies consideration of C$0.50 per Adventus Share based on the 20-day volume-weighted average prices (“VWAP”) of Silvercorp Shares on the Toronto Stock Exchange (the “TSX”) on April 25, 2024. This represents a premium of 31% based on the 20-day VWAP of Silvercorp on the TSX and Adventus on the TSX Venture Exchange (the “TSXV”), both as at April 25, 2024. The implied equity value of the Transaction is approximately C$200 million on a fully-diluted in-the-money basis. At closing, existing Silvercorp and Adventus shareholders will own approximately 81.6% and 18.4%, respectively, of Silvercorp shares outstanding on a fully-diluted in-the-money basis. Concurrent with entering into the Arrangement Agreement, the Company and Adventus entered into an investment agreement pursuant to which the Company subscribed for 67,441,217 Adventus Shares at an issue price of C$0.38 per share, or C$25,627,662 in the aggregate (the “Placement”), which was completed on May 1, 2024, and the Company currently holds approximately 15% of the total issued and outstanding shares of Adventus. The Adventus Shares issued to the Company are subject to a statutory four-month hold period under applicable securities laws. The Adventus Board has unanimously approved the Transaction and recommends that Adventus shareholders vote in favour of the Transaction at the special meeting of securityholders (the “Special Meeting”). Each of the directors and senior officers of Adventus, Mr. Ross Beaty and Wheaton Precious Metals Corp., representing in aggregate approximately 23% of the issued and outstanding Adventus Shares, have entered into voting support agreements with Silvercorp and have agreed to vote in favour of the Transaction at the Special Meeting in accordance with those agreements. The Transaction will be carried out by way of a court-approved Arrangement under the Canada Business Corporations Act and a resolution to approve the Transaction will be submitted to Adventus shareholders and holders of Adventus stock options and restricted share units at the Special Meeting expected to be held on or about June 28, 2024. The Transaction will require approval by (i) 66 2/3% of the votes cast by Adventus shareholders and holders of options and restricted share units voting as a single class, and (ii) a simple majority that excludes those not entitled to vote in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. In addition to Adventus securityholder and court approval, the Transaction is also subject to the satisfaction of certain other closing conditions customary for a transaction of this nature. The Transaction has been conditionally approved by the TSXV but remains subject to final approval of the TSXV on behalf of Adventus, and approval of the TSX and NYSE American on behalf of Silvercorp, including the acceptance for listing of the Silvercorp Shares to be issued in connection with the Transaction. The Transaction is expected to be completed in the third quarter of 2024. The Arrangement Agreement includes representations, warranties, covenants, indemnities, termination rights and other provisions customary for a transaction of this nature. In particular, the Arrangement Agreement provides for customary deal protections, including a non-solicitation covenant on the part of Adventus and a right for Silvercorp to match any Superior Proposal (as defined in the Arrangement Agreement). The Arrangement Agreement includes a termination fee of C$10 million, payable by Adventus, under certain circumstances (including if the Arrangement Agreement is terminated in connection with Adventus pursuing a Superior Proposal).

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Mar. 31, 2024
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 April 1, 2023. These consolidated financial statements were authorized for issue in accordance with a resolution of the Board of Directors dated May 22, 2024.
Adoption of New Accounting Standards, Interpretation or Amendments	(b) Adoption of New Accounting Standards, Interpretation or Amendments The Company adopted various amendments to IFRS, which were effective for the accounting period beginning on or after April 1, 2023, including the following: Amendment to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction The amendments to IAS 12 clarify that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements. Amendments to IAS 1 and IFRS Practice Statement 2 – Disclosure of Accounting Policies The amendments require that an entity discloses its material accounting policies, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the IASB has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. This amendment did not have a material impact on the Company’s consolidated financial statements. Amendments to IAS 8 – Definition of Accounting Estimates The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty.” The definition of a change in accounting estimates was deleted. However, IASB retained the concept of changes in accounting estimates in IFRS with the following clarification: ● A change in accounting estimate that results from new information or new developments is not the correction of an error. ● The effects of a change in an input or a measurement technique used to develop an accounting estimate are changes in accounting estimates if they do not result from the correction of prior period errors. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued but not effective	(c) New Accounting Standards Issued but not effective Certain new accounting standards and interpretations have been issued that are not mandatory for the current period and have not been early adopted. Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) The amendments to IAS 1, clarifies the presentation of liabilities. The classification of liabilities as current or noncurrent is based on contractual rights that are in existence at the end of the reporting period and is affected by expectations about whether an entity will exercise its right to defer settlement. A liability not due over the next twelve months is classified as non-current even if management intends or expects to settle the liability within twelve months. The amendment also introduces a definition of ‘settlement’ to make clear that settlement refers to the transfer of cash, equity instruments, other assets, or services to the counterparty. The amendment issued in October 2022 also clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. Covenants to be complied with after the reporting date do not affect the classification of debt as current or non-current at the reporting date. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The implementation of this amendment is not expected to have a material impact on the Company. Lack of Exchangeability (Amendments to IAS 21) The amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. The amendments are effective for annual reporting periods beginning on or after January 1, 2025. The Company is currently evaluating the impact of this amendment. The following new standards or amendments are effective for annual periods beginning on or after January 1, 2024 and are expected to have no impact on the Company’s financial statements: ● Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) ● Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) ● Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28)
Basis of Consolidation	(d) 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 balance sheets. 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 Name of subsidiaries Principal activity Country of March 31, March 31, 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% New Infini Silver Inc. (“New Infini”) Holding company Canada 46.1% 46.1% Infini Metals Inc. Holding company BVI 46.1% 46.1% Infini Resources (Asia) Co. Ltd. Holding company Hong Kong 46.1% 46.1% Golden Land (Asia) Ltd. Holding company Hong Kong 46.1% 46.1% 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% Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (“Guangdong Found”) Mining China 99% 99% GC Infini Resources S.A. de C.V. Mining Mexico 46.1% 46.1% La Yesca Shanxi Xinbaoyuan Mining Co., Ltd. (“Xinbaoyuan”) Mining China 77.5% 77.5% Kuanping (i) British Virgin Islands (“BVI”)
Investments in Associates	(e) 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 the 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 associates are as follows: Proportion of ownership interest held Name of associate Principal activity Country of March 31, March 31, New Pacific Metals Corp. (“NUAG”) Mining Canada 27.4% 28.2% Tincorp Metals Inc. (“TIN”, formerly Whitehorse Gold Corp.) Mining Canada 29.7% 29.3%
Business Combinations or asset acquisition	(f) Business Combinations or asset acquisition Optional concentration test The Company applies an optional concentration test, on a transaction-by-transaction basis, that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The gross assets under assessment exclude cash and cash equivalents, deferred tax assets, and goodwill resulting from the effects of deferred tax liabilities. If the concentration test is met, the set of activities and assets is determined not to be a business and no further assessment is needed. Asset acquisitions When the Company acquires a group of assets and liabilities that do not constitute a business, the Company identifies and recognizes the individual identifiable assets acquired and liabilities assumed by allocating the purchase price including the associated acquisition-related transaction costs first to financial assets/financial liabilities at the respective fair values, the remaining balance of the purchase price is then allocated to the other identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction does not give rise to goodwill or bargain purchase gain. 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	(g) 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. Other than New Infini and its subsidiaries, 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”). The functional currency of New Infini and its subsidiaries is U.S. dollars (“USD”). Foreign currency monetary assets and liabilities are translated into the functional currency using exchange rates prevailing at the reporting 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 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 reporting 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 consolidated statements of income as part of the gain or loss on sale.
Revenue Recognition	(h) 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 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, typically 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	(i) 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	(j) 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	(k) 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	(l) 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 Lesser of useful life or term of the lease 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	(m) 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 Reversal	(n) Impairment and Impairment Reversal 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 statements 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
Environmental Rehabilitation Provision	(o) 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	(p) Leases 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 pre-determines 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 statements 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 sublease is a finance lease. 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 statements of income.
Borrowing Costs	(q) 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	(r) 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 RSUs and PSUs 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. At each reporting 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	(s) 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 reporting 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	(t) 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, RSUs, and repurchased from proceeds, is included in the calculation of diluted earnings per share.
Financial Instruments	(u) 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’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 consolidated statements of income. Offsetting of financial instruments: Financial assets and liabilities are offset and the net amount is reported in the consolidated statements 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	(v) 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.
Critical Accounting Judgments and Estimates	(w) Critical Accounting Judgments and Estimates The preparation of consolidated financial statements in conformity with IFRS requires management to make judgments, 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 – costs incurred at producing properties, have potential future economic benefits and are potentially economically recoverable, subject to impairment analysis. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit, including geologic and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits, whether to extend of the mine life, increase future production, or to provide access to a component of an ore body that will be mined in a future period. Indicators of impairment and impairment reversal 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 Consolidation of entities in which the Company holds less than a majority of voting rights 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 impairment reversal 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 income. Valuation of inventory Environmental rehabilitation provision and the timing of expenditures

Material Accounting Policies (T

Material Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2024
Material 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 Name of subsidiaries Principal activity Country of March 31, March 31, 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% New Infini Silver Inc. (“New Infini”) Holding company Canada 46.1% 46.1% Infini Metals Inc. Holding company BVI 46.1% 46.1% Infini Resources (Asia) Co. Ltd. Holding company Hong Kong 46.1% 46.1% Golden Land (Asia) Ltd. Holding company Hong Kong 46.1% 46.1% 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% Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”) Mining China 70% 70% BYP Guangdong Found Mining Co. Ltd. (“Guangdong Found”) Mining China 99% 99% GC Infini Resources S.A. de C.V. Mining Mexico 46.1% 46.1% La Yesca Shanxi Xinbaoyuan Mining Co., Ltd. (“Xinbaoyuan”) Mining China 77.5% 77.5% Kuanping (i) British Virgin Islands (“BVI”)
Schedule of Details of Company's Associate	Details of the Company’s associates are as follows: Proportion of ownership interest held Name of associate Principal activity Country of March 31, March 31, New Pacific Metals Corp. (“NUAG”) Mining Canada 27.4% 28.2% Tincorp Metals Inc. (“TIN”, formerly Whitehorse Gold Corp.) Mining Canada 29.7% 29.3%
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 Lesser of useful life or term of the lease

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Mar. 31, 2024
Segmented Information [Abstract]
Schedule of Segment Information for Operating Results	Segmented information for operating results is as follows: Year ended March 31, 2024 Mining Administrative Statement of income: Henan Luoning Guangdong Other Beijing Vancouver Total Revenue $ 187,793 $ 27,394 $ - $ - $ - $ 215,187 Costs of mine operations (109,891 ) (24,312 ) (395 ) - - (134,598 ) Income (loss) from mine operations 77,902 3,082 (395 ) - - 80,589 Operating expenses (3,335 ) 291 (41 ) (2,002 ) (7,330 ) (12,417 ) Impairment of investment in associate - - - - (4,251 ) (4,251 ) Finance items, net 2,237 409 (26 ) 174 3,240 6,034 Income tax (expenses) recoveries (13,887 ) (333 ) 7 - (6,064 ) (20,277 ) Net income (loss) $ 62,917 $ 3,449 $ (455 ) $ (1,828 ) $ (14,405 ) $ 49,678 Attributable to: Equity holders of the Company 49,396 3,416 (281 ) (1,828 ) (14,397 ) 36,306 Non-controlling interests 13,521 33 (174 ) - (8 ) 13,372 Net income (loss) $ 62,917 $ 3,449 $ (455 ) $ (1,828 ) $ (14,405 ) $ 49,678 Year ended March 31, 2023 Mining Administrative Statement of income: Henan Luoning Guangdong Other Beijing Vancouver Total Revenue $ 174,868 $ 33,261 $ - $ - $ - $ 208,129 Costs of mine operations (112,092 ) (24,831 ) (423 ) - - (137,346 ) Income (loss) from mine operations 62,776 8,430 (423 ) - - 70,783 Operating expenses (2,540 ) (223 ) (77 ) (1,832 ) (12,153 ) (16,825 ) Impairment of mineral rights and properties - - (20,211 ) - - (20,211 ) Finance items, net 2,526 423 (29 ) 271 (1,795 ) 1,396 Income tax (expenses) recoveries (9,699 ) (617 ) 62 - (3,789 ) (14,043 ) Net income (loss) $ 53,063 $ 8,013 $ (20,678 ) $ (1,561 ) $ (17,737 ) $ 21,100 Attributable to: Equity holders of the Company 41,600 7,935 (9,948 ) (1,561 ) (17,418 ) 20,608 Non-controlling interests 11,463 78 (10,730 ) - (319 ) 492 Net income (loss) $ 53,063 $ 8,013 $ (20,678 ) $ (1,561 ) $ (17,737 ) $ 21,100
Schedule of Segment Information for Assets and Liabilities	Segmented information for assets and liabilities is as follows: March 31, 2024 Mining Administrative Statement of financial position items: Henan Luoning Guangdong Other Beijing Vancouver Total Current assets $ 91,777 $ 9,272 $ 1,048 $ 7,102 $ 92,699 $ 201,898 Plant and equipment 61,350 13,648 2,908 476 1,516 79,898 Mineral rights and properties 264,903 34,409 19,521 - - 318,833 Investment in associates - - - - 49,426 49,426 Other investments 63 - - - 46,191 46,254 Reclamation deposits 1,370 3,032 - - 7 4,409 Long-term prepaids and deposits 1,104 129 91 - 310 1,634 Investment properties 463 - - - - 463 Deferred income tax assets - - - - - - Total assets $ 421,030 $ 60,490 $ 23,568 $ 7,578 $ 190,149 $ 702,815 Current liabilities $ 38,271 $ 5,621 $ 340 $ 212 $ 2,710 $ 47,154 Long-term portion of lease obligation - - $ - - 1,102 1,102 Deferred income tax liabilities 50,001 133 $ 974 - - 51,108 Environmental rehabilitation 4,000 1,486 $ 956 - - 6,442 Total liabilities $ 92,272 $ 7,240 $ 2,270 $ 212 $ 3,812 $ 105,806 March 31, 2023 Mining Administrative Statement of financial position items: Henan Luoning Guangdong Other Beijing Vancouver Total Current assets $ 112,936 $ 20,605 $ 1,149 $ 7,608 $ 76,750 $ 219,048 Plant and equipment 59,854 15,289 3,314 644 958 80,059 Mineral rights and properties 251,150 32,070 20,206 - - 303,426 Investment in associates - - - - 50,695 50,695 Other investments 65 - - - 15,475 15,540 Reclamation deposits 3,626 3,348 - - 7 6,981 Long-term prepaids and deposits 686 89 96 - - 871 Deferred income tax assets - 179 - - - 179 Total assets $ 428,317 $ 71,580 $ 24,765 $ 8,252 $ 143,885 $ 676,799 Current liabilities $ 33,102 $ 5,509 $ 433 $ 226 $ 1,970 $ 41,240 Long-term portion of lease obligation - - - - 314 314 Deferred income tax liabilities 47,065 - 1,031 - - 48,096 Environmental rehabilitation 4,883 1,477 958 - - 7,318 Total liabilities $ 85,050 $ 6,986 $ 2,422 $ 226 $ 2,284 $ 96,968
Schedule of Sales by Metal	The sales generated for the year ended March 31, 2024 and 2023 were all earned in China and were comprised of: Year ended March 31, 2024 Henan Luoning Guangdong Total Gold $ 13,024 $ - $ 13,024 Silver 116,364 7,870 124,234 Lead 46,972 5,422 52,394 Zinc 6,904 12,198 19,102 Other 4,529 1,904 6,433 $ 187,793 $ 27,394 $ 215,187 Year ended March 31, 2023 Henan Luoning Guangdong Total Gold $ 6,647 $ - $ 6,647 Silver 105,776 7,816 113,592 Lead 50,477 6,366 56,843 Zinc 7,881 16,942 24,823 Other 4,087 2,137 6,224 174,868 $ 33,261 $ 208,129
Schedule of Revenue from Major Customers	Revenue from major customers is summarized as follows: Year ended March 31, 2024 Customers Henan Luoning Guangdong Total Percentage of total revenue Customer A $ 51,471 $ 4,530 $ 56,001 26 % Customer B 50,697 - 50,697 24 % Customer C 15,844 2,338 18,182 8 % Customer D 39,770 - 39,770 18 % Customer E 20,678 3,227 23,905 11 % $ 178,460 $ 10,095 $ 188,555 87 % Year ended March 31, 2023 Customers Henan Luoning Guangdong Total Percentage of total revenue Customer A $ 33,385 $ - $ 33,385 16 % Customer B 34,331 - 34,331 17 % Customer C 41,547 687 42,234 20 % Customer D 40,443 - 40,443 19 % Customer E 13,111 2,470 15,581 7 % $ 162,817 $ 3,157 $ 165,974 79 %

Government Fees And Other Tax_2

Government Fees And Other Taxes (Tables)	12 Months Ended
	Mar. 31, 2024
Government Fees And Other Taxes [Abstract]
Schedule of Government Fees and Other Taxes	Government fees and other taxes consist of: Years ended March 31, 2024 2023 Government fees $ 61 $ 69 Other taxes 2,580 2,319 $ 2,641 $ 2,388

General and Administrative (Tab

General and Administrative (Tables)	12 Months Ended
	Mar. 31, 2024
General and Administrative [Abstract]
Schedule of General and Administrative Expenses	General and administrative expenses consist of: Years ended March 31, 2024 Years ended March 31, 2023 Corporate Mines Total Corporate Mines Total Amortization and depreciation $ 588 $ 1,094 $ 1,682 $ 573 $ 1,189 $ 1,762 Office and administrative expenses 2,042 2,613 4,655 1,834 2,608 4,442 Professional fees 860 565 1,425 669 432 1,101 Salaries and benefits 6,459 6,550 13,009 6,331 6,258 12,589 Share-based compensation 4,146 - 4,146 3,842 - 3,842 $ 14,095 $ 10,822 $ 24,917 $ 13,249 $ 10,487 $ 23,736

Finance Items (Tables)

Finance Items (Tables)	12 Months Ended
	Mar. 31, 2024
Finance Items [Abstract]
Schedule of Finance Items	Finance items consist of: Years ended March 31, Finance income 2024 2023 Interest income $ 6,247 $ 4,578 Dividend income - 76 Interest income $ 6,247 $ 4,654 Years ended March 31, Finance costs 2024 2023 Interest on lease obligation $ 22 $ 43 Impairment charges for expected credit loss against bond investments - 2,883 Loss on disposal of bonds - 93 Unwinding of discount of environmental rehabilitation provision (Note 16) 191 239 $ 213 $ 3,258

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Mar. 31, 2024
Income Tax [Abstract]
Schedule of Income Tax Expense	The significant components of income tax expense are as follows: Years ended March 31, Income tax expense 2024 2023 Current $ 14,671 $ 9,358 Deferred 5,606 4,685 $ 20,277 $ 14,043
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 2024 2023 Canadian statutory tax rate 27.00 % 27.00 % Income before income taxes $ 69,955 $ 35,143 Income tax expense computed at Canadian statutory rates 18,888 9,489 Foreign tax rates different from statutory rate (6,579 ) (4,976 ) Permanent items (351 ) (1,048 ) Withholding taxes 6,064 3,789 Change in unrecognized deferred tax assets 2,255 6,789 Income tax expense $ 20,277 $ 14,043
Schedule of Deferred Income Tax Assets (liabilities)	The continuity of deferred income tax liabilities is summarized as follows: Years ended March, 31 2024 2023 Net deferred income tax liabilities, beginning of the year $ (47,917 ) $ (47,128 ) Deferred income tax expense recognized in net income for the year (5,606 ) (4,685 ) Deferred income tax expense recognized in other comprehensive income for the year - 240 Foreign exchange impact 2,415 3,656 Net deferred income tax liabilities, end of the year $ (51,108 ) $ (47,917 )
Schedule of Deferred Income Tax	The significant components of the Company’s deferred income tax are as follows: March 31, 2024 March 31, 2023 Deferred income tax assets Plant and equipment $ 13,121 $ 2,054 Non-capital loss carry forwards 806 747 Environmental rehabilitation 1,462 1,765 Unrealized loss on investments 503 363 Other deductible temporary difference 327 41 Total deferred income tax assets 16,219 4,970 Deferred income tax liabilities Plant and equipment - (1,905 ) Mineral rights and properties (67,174 ) (50,821 ) Other taxable temporary difference (153 ) (161 ) Total deferred income tax liabilities (67,327 ) (52,887 ) Net deferred income tax liabilities (51,108 ) (47,917 ) Of which -Deferred tax assets - 179 -Deferred tax liabilities $ (51,108 ) $ (48,096 )
Schedule of Temporary Differences and Unused Tax Losses	Deductible temporary differences and unused tax losses for which no deferred tax assets have been recognized are attributable to the following: March 31, 2024 March 31, 2023 Non-capital loss carry forward $ 77,298 $ 65,200 Plant and equipment 2,003 2,553 Mineral rights and properties 6,199 3,562 Other deductible temporary difference 10,108 20,354 $ 95,608 $ 91,669
Schedule of Net Operating Losses Expiring in Various Years	As at March 31, 2024, the Company has the following net operating losses, expiring in various years to 2044 and available to offset future taxable income in Canada and China, respectively. Canada China Total 2024 792 792 2025 234 234 2026 1,147 1,147 2027 1,684 1,684 2028 1 1,995 1,996 2029 1,083 1,083 2030 6,288 6,288 2031 9,123 9,123 2032 9,389 9,389 2033 7,379 7,379 2034 6,701 6,701 2035 113 113 2036 540 540 2037 2,357 2,357 2038 2,663 2,663 2039 1,988 1,988 2040 3,921 3,921 2041 84 84 2042 6,773 6,773 2043 8,007 8,007 2044 5,036 5,036 $ 71,446 $ 5,852 $ 77,298

Short-Term Investments (Tables)

Short-Term Investments (Tables)	12 Months Ended
	Mar. 31, 2024
Short-Term Investments [Abstract]
Schedule of Short-term Investments	As at March 31, 2024, short-term investments consist of the following: Carraying Value Interest rates Maturity Bonds $ 1,329 5.50% - 6.90% June 9, 2024 - January 16, 2025 Money market instruments 30,620 $ 31,949 Carraying Value Interest rates Maturity Bonds $ 3,802 5.50% - 13.00% July 17, 2023 - January 16, 2025 Money market instruments 53,829 $ 57,631

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2024
Inventories [Abstract]
Schedule of Inventories	Inventories consist of the following: March 31, 2024 March 31, 2023 Concentrate inventory $ 1,525 $ 2,556 Stockpile 2,176 1,234 Material and supplies 3,694 4,553 $ 7,395 $ 8,343

Other Investments (Tables)

Other Investments (Tables)	12 Months Ended
	Mar. 31, 2024
Disclosure of Other Investments [Abstract]
Schedule of Equity Investments Designated	March 31, 2024 March 31, 2023 Investments designated as FVTOCI Public companies $ 547 $ 918 Private companies 62 65 609 983 Investments designated as FVTPL Public companies 42,488 11,396 Private companies 3,157 3,161 45,645 14,557 Total $ 46,254 $ 15,540
Schedule of Continuity of Investments	The continuity of such investments is as follows: Fair Value Accumulated fair Accumulated fair April 1, 2022 $ 17,768 $ (24,336 ) $ 3,703 Loss on equity investments designated as FVTOCI (1,312 ) (1,312 ) - Loss on equity investments designated as FVTPL (2,318 ) - (2,318 ) Acquisition 3,702 - - Disposal (1,035 ) - - Impact of foreign currency translation (1,265 ) - - March 31, 2023 $ 15,540 $ (25,648 ) $ 1,385 Gain on equity investments designated as FVTOCI (67 ) (67 ) - Gain on equity investments designated as FVTPL 9,074 - 9,074 Acquisition 23,305 - - Disposal (1,492 ) - - Impact of foreign currency translation (106 ) - - March 31, 2024 $ 46,254 $ (25,715 ) $ 10,459

Investment in Associates (Table

Investment in Associates (Tables)	12 Months Ended
	Mar. 31, 2024
Investment in 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 reporting dates are as follows: Number of shares Amount Value of NUAG’s Balance, April 1, 2022 44,042,216 $ 49,437 $ 140,275 Purchase from open market 309,400 874 Share of net loss (2,411 ) Share of other comprehensive loss (894 ) Foreign exchange impact (3,753 ) Balance, March 31, 2023 44,351,616 $ 43,253 $ 119,621 Participation in bought deal 2,541,890 4,982 Purchase from open market 11,200 15 Dilution Gain 733 Share of net loss (1,784 ) Share of other comprehensive loss (28 ) Foreign exchange impact (91 ) Balance, March 31, 2024 46,904,706 $ 47,080 $ 63,693 Number of shares Amount Value of TIN’s Balance, April 1, 2022 15,514,285 $ 7,404 $ 6,208 Participation in private placement 4,000,000 1,181 Dilution loss (107 ) Share of net loss (490 ) Share of other comprehensive income 8 Foreign exchange impact (554 ) Balance, March 31, 2023 19,514,285 $ 7,442 $ 6,777 Tincorp shares received under credit facility agreement 350,000 78 Share of net loss (908 ) Share of other comprehensive income (8 ) Impairment (4,251 ) Foreign exchange impact (7 ) Balance, March 31, 2024 19,864,285 $ 2,346 $ 2,346
Schedule of Financial Information for Investment	Summarized financial information for the Company’s investment in NUAG on a 100% basis is as follows: Years ended March 31, 2024 (1) 2023 (1) Net loss attributable to NUAG’s shareholders as reported by NUAG $ (6,404 ) $ (8,569 ) Net loss of NUAG qualified for pick-up (6,404 ) (8,569 ) Other comprehensive income (loss) attributable to NUAG’s shareholders as reported by NUAG shareholders as reported by NUAG (104 ) (3,161 ) Comprehensive loss of NUAG qualified for pick-up $ (6,508 ) $ (11,730 ) Company’s share of net loss (1,784 ) (2,411 ) Company’s share of other comprehensive income (loss) (28 ) (894 ) Company’s share of comprehensive loss $ (1,812 ) $ (3,305 ) (1) Year ended March 31, 2024 (1) 2023 (1) Net loss attributable to TIN’s shareholders as reported by TIN $ (3,075 ) $ (1,666 ) Other comprehensive income attributable to TIN’s shareholders as reported by TIN (26 ) 30 Comprehensive loss of TIN qualified for pick-up (3,101 ) (1,636 ) Company’s share of net loss (908 ) (490 ) Company’s share of other comprehensive income (8 ) 8 Company’s share of comprehensive loss $ (916 ) $ (482 ) (1)
Schedule of Consolidated Financial Statements	As at March 31, 2024 March 31, 2023 Current assets $ 24,509 $ 12,020 Non-current assets 114,048 107,788 Total assets $ 138,557 $ 119,808 Current liabilities 842 3,493 Total liabilities $ 842 $ 3,493 Net assets $ 137,715 $ 116,315 Non-controlling interests (155 ) (88 ) Total equity attributable to equity holders of NUAG $ 137,870 $ 116,403 Company’s share of net assets of associate $ 37,719 $ 32,794 Fair value adjustments 9,361 10,459 Carrying value of the investment in NUAG $ 47,080 $ 43,253 As at March 31, 2024 March 31, 2023 Current assets $ 250 $ 2,640 Non-current assets 20,899 20,701 Total assets $ 21,149 $ 23,341 Current liabilities 1,303 746 Total liabilities $ 1,303 $ 746 Net assets $ 19,846 $ 22,595 Company’s share of net assets of associate $ 5,892 $ 6,625 Fair value adjustments (3,546 ) 817 Carrying value of the investment in TIN $ 2,346 $ 7,442

Investment Properties (Tables)

Investment Properties (Tables)	12 Months Ended
	Mar. 31, 2024
Investment Properties [Abstract]
Schedule of Investment Properties	Investment properties consist of: Cost Total Balance, March 31, 2023 $ - Additions 287 Transfer from property, plant, and equipment 837 Impact of foreign currency translation (9 ) Balance, March 31, 2024 $ 1,115 Accumulated depreciation and amortization Balance, March 31, 2023 $ - Depreciation and amortization (39 ) Transfer from property, plant, and equipment (619 ) Impact of foreign currency translation 6 Balance, March 31, 2024 $ (652 ) Carrying amounts Balance, March 31, 2023 $ - Balance, March 31, 2024 $ 463

Plant and Equipment (Tables)

Plant and Equipment (Tables)	12 Months Ended
	Mar. 31, 2024
Plant and Equipment [Abstract]
Schedule of Plant and Equipment	Plant and equipment consist of: Cost Land use rights Office Machinery Motor Construction Total Balance as at April 1, 2022 $ 117,247 $ 11,009 $ 34,379 $ 8,313 $ 2,603 $ 173,551 Additions 499 1,169 3,097 879 9,925 15,569 Disposals (985 ) (511 ) (1,085 ) (494 ) - (3,075 ) Reclassification of asset groups 4,400 33 655 - (5,088 ) - Impact of foreign currency translation (9,040 ) (821 ) (2,672 ) (636 ) (212 ) (13,381 ) Balance as at March 31, 2023 $ 112,121 $ 10,879 $ 34,374 $ 8,062 $ 7,228 $ 172,664 Additions 1,020 853 1,965 609 8,469 12,916 Disposals (1,082 ) (234 ) (1,033 ) (290 ) - (2,639 ) Reclassification of asset groups 2,209 461 840 (410 ) (3,100 ) - Impact of foreign currency translation (5,459 ) (495 ) (1,723 ) (394 ) (404 ) (8,475 ) Ending balance as at March 31, 2024 $ 108,809 $ 11,464 $ 34,423 $ 7,577 $ 12,193 $ 174,466 Impairment, accumulated depreciation and amortization Balance as at April 1, 2022 $ (57,584 ) $ (7,232 ) $ (23,665 ) $ (5,652 ) $ - $ (94,133 ) Disposals 733 500 767 407 - 2,407 Depreciation and amortization (4,373 ) (940 ) (2,162 ) (660 ) - (8,135 ) Impact of foreign currency translation 4,443 530 1,847 436 - 7,256 Balance as at March 31, 2023 $ (56,781 ) $ (7,142 ) $ (23,213 ) $ (5,469 ) $ - $ (92,605 ) Disposals 778 216 291 211 - 1,496 Depreciation and amortization (4,315 ) (1,031 ) (2,263 ) (390 ) - (7,999 ) Impact of foreign currency translation 2,777 316 1,176 271 - 4,540 Ending balance as at March 31, 2024 $ (57,541 ) $ (7,641 ) $ (24,009 ) $ (5,377 ) $ - $ (94,568 ) Carrying amounts Balance as at March 31, 2023 $ 55,340 $ 3,737 $ 11,161 $ 2,593 $ 7,228 $ 80,059 Ending balance as at March 31, 2024 $ 51,268 $ 3,823 $ 10,414 $ 2,200 $ 12,193 $ 79,898
Schedule of Carrying Amount of Plant and Equipment	Tables below summarized the carrying amount of the plant and equipment used at each operation segments of the Company. Carrying amounts as at March 31, 2024 Ying Mining District GC Other Corporate Total Land use rights and building $ 37,669 $ 9,629 $ 2,183 $ 1,787 $ 51,268 Office equipment 3,185 415 46 177 3,823 Machinery 6,942 3,344 128 - 10,414 Motor vehicles 1,905 198 69 28 2,200 Construction in progress 11,649 62 482 - 12,193 Total $ 61,350 $ 13,648 $ 2,908 $ 1,992 $ 79,898 Carrying amounts as at March 31, 2023 Ying Mining District GC Other Corporate Total Land use rights and building $ 41,155 $ 10,403 $ 2,490 $ 1,292 $ 55,340 Office equipment 2,991 440 63 243 3,737 Machinery 7,433 3,568 160 - 11,161 Motor vehicles 2,067 367 92 67 2,593 Construction in progress 6,208 511 509 - 7,228 Total $ 59,854 $ 15,289 $ 3,314 $ 1,602 $ 80,059

Mineral Rights and Properties (

Mineral Rights and Properties (Tables)	12 Months Ended
	Mar. 31, 2024
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 Kuanping La Yesca Total Balance as at April 1, 2022 $ 397,335 $ 65,092 $ 124,906 $ 13,380 $ 19,335 $ 620,048 Capitalized expenditures 35,632 - 4,839 907 876 42,254 Environmental rehabilitation (224 ) (36 ) 12 - - (248 ) Foreign currency translation impact (30,731 ) (1,192 ) (9,639 ) (1,034 ) - (42,596 ) Balance as at March 31, 2023 $ 402,012 $ 63,864 $ 120,118 $ 13,253 $ 20,211 $ 619,458 Capitalized expenditures 44,633 - 6,202 290 - 51,125 Environmental rehabilitation 89 20 151 - - 260 Foreign currency translation impact (20,174 ) (698 ) (5,914 ) (658 ) - (27,444 ) Balance as at March 31, 2024 $ 426,560 $ 63,186 $ 120,557 $ 12,885 $ 20,211 $ 643,399 Impairment and accumulated depletion Balance as at April 1, 2022 $ (143,264 ) $ (57,521 ) $ (92,815 ) $ - $ - $ (293,600 ) Impairment - - - - (20,211 ) (20,211 ) Depletion (18,689 ) - (2,398 ) - - (21,087 ) Foreign currency translation impact 11,091 610 7,165 - - 18,866 Balance as at March 31, 2023 $ (150,862 ) $ (56,911 ) $ (88,048 ) $ - $ (20,211 ) $ (316,032 ) Depletion (18,379 ) - (2,405 ) - - (20,784 ) Foreign currency translation impact 7,584 361 4,305 - - 12,250 Balance as at March 31, 2024 $ (161,657 ) $ (56,550 ) $ (86,148 ) $ - $ (20,211 ) $ (324,566 ) Carrying amounts Balance as at March 31, 2023 $ 251,150 $ 6,953 $ 32,070 $ 13,253 $ - $ 303,426 Balance as at March 31, 2024 $ 264,903 $ 6,636 $ 34,409 $ 12,885 $ - $ 318,833

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2024
Leases [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 sublease. Lease Receivable Lease Obligation Balance, April 1, 2022 $ 182 $ 1,263 Interest accrual 4 43 Interest received or paid (4 ) (43 ) Principal repayment (172 ) (597 ) Foreign exchange impact (10 ) (83 ) Balance, March 31, 2023 $ - $ 583 Addition - 998 Interest accrual - 22 Interest received or paid - (22 ) Principal repayment - (262 ) Foreign exchange impact - (4 ) Balance, March 31, 2024 $ - $ 1,315 Less: current portion - (213 ) Non-current portion $ - $ 1,102
Schedule 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 obligation as at March 31, 2024: Lease Obligation Within 1 year $ 284 Between 2 to 5 years 1,095 Over 5 years 338 Total undiscounted amount 1,717 Less future interest (402 ) Total discounted amount $ 1,315 Less: current portion (213 ) Non-current portion $ 1,102

Environmental Rehabilitation _2

Environmental Rehabilitation Obligation (Tables)	12 Months Ended
	Mar. 31, 2024
Environmental Rehabilitation Obligation [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, 2022 $ 8,739 Reclamation expenditures (740 ) Unwinding of discount of environmental rehabilitation 239 Revision of provision (248 ) Foreign exchange impact (672 ) Balance, March 31, 2023 $ 7,318 Reclamation expenditures (970 ) Unwinding of discount of environmental rehabilitation 191 Revision of provision 259 Foreign exchange impact (356 ) Balance, March 31, 2024 $ 6,442

Share Capital (Tables)

Share Capital (Tables)	12 Months Ended
	Mar. 31, 2024
Share Capital [Abstract]
Schedule of Option Transactions	The following is a summary of option transactions: Number of options Weighted average Balance, April 1, 2022 995,335 $ 7.28 Option granted 595,000 3.95 Options cancelled/forfeited (158,667 ) 6.29 Balance, March 31, 2023 1,431,668 $ 6.01 Options cancelled/forfeited (104,667 ) 5.83 Balance, March 31, 2024 1,327,001 $ 6.02
Schedule of Information About Stock Options Outstanding	The following table summarizes information about stock options outstanding as at March 31, 2024: Exercise price in CAD Number of options Weighted average Weighted average Number of options Weighted average $ 3.93 438,000 3.07 $ 3.93 219,000 $ 3.93 $ 4.08 60,000 3.90 $ 4.08 20,000 $ 4.08 $ 5.46 454,001 1.15 $ 5.46 454,001 $ 5.46 $ 9.45 375,000 1.62 $ 9.45 375,000 $ 9.45 $3.93 to $9.45 1,327,001 2.04 $ 6.02 1,068,001 $ 6.52
Schedule of RSUs	The following is a summary of RSUs transactions: Number of units Weighted average Balance, March 31, 2022 1,636,165 $ 6.47 Granted 1,154,000 3.96 Forfeited (159,792 ) 5.44 Distributed (503,703 ) 6.04 Balance, March 31, 2023 2,126,670 $ 5.29 Granted 1,056,000 5.28 Forfeited (113,665 ) 5.04 Distributed (928,755 ) 5.44 Balance, at March 31, 2024 2,140,250 $ 5.23
Schedule of Earnings Per Share Basic and Diluted	Earnings per share (basic and diluted) For the years ended March 31, 2024 2023 Income (Numerator) Shares (Denominator) Per-Share Amount Income (Numerator) Shares (Denominator) Per-Share Amount Net income attributable to equity holders of the Company $ 36,306 $ 20,608 Basic earnings per share 36,306 176,997,360 $ 0.21 20,608 176,862,877 $ 0.12 Effect of dilutive securities: Stock options and RSUs 2,140,250 2,126,672 Diluted earnings per share $ 36,306 179,137,610 $ 0.20 $ 20,608 178,989,549 $ 0.12

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Mar. 31, 2024
Accumulated Other Comprehensive Loss [Abstract]
Schedule of accumulated other comprehensive loss	March 31, 2024 March 31, 2023 Change in fair value on equity investments designated as FVTOCI $ 24,421 $ 24,355 Share of other comprehensive loss in associate 1,449 1,380 Currency translation adjustment 34,175 17,508 Balance, end of the year $ 60,045 $ 43,243

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	12 Months Ended
	Mar. 31, 2024
Non-Controlling Interests [Abstract]
Schedule of Non-controlling Interests	The continuity of non-controlling interests is summarized as follows: Henan Henan Yunxiang Guangdong New Infini Total Balance, April 1, 2022 $ 89,669 $ 4,928 $ 2,915 $ (181 ) $ 10,387 $ 107,718 Share of net income (loss) 11,584 (121 ) (157 ) 78 (10,892 ) 492 Share of other comprehensive loss (6,037 ) (351 ) (118 ) (46 ) - (6,552 ) Distributions (9,934 ) (946 ) - - - (10,880 ) Balance, March 31, 2023 $ 85,282 $ 3,510 $ 2,640 $ (149 ) $ (505 ) $ 90,778 Share of net income (loss) 12,846 673 (151 ) 33 (29 ) 13,372 Share of other comprehensive loss (3,063 ) (55 ) (96 ) (94 ) - (3,308 ) Distributions (10,088 ) (950 ) - (50 ) - (11,088 ) Balance, March 31, 2024 $ 84,977 $ 3,178 $ 2,393 $ (260 ) $ (534 ) $ 89,754

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Due from Related Parties	Related party transactions not disclosed elsewhere in the consolidated financial statements are as follows: March 31, 2024 March 31, 2023 NUAG (i) $ 28 $ 51 TIN (ii) 562 37 $ 590 $ 88 i. 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, 2024, the Company recovered $1.0 million (year ended March 31, 2023 - $1.0 million) 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. ii. The Company recovers costs for services rendered to TIN and expenses incurred on behalf of TIN pursuant to a services and administrative costs reallocation agreement. During the year ended March 31, 2024, the Company recovered $0.3 million (year ended March 31, 2023 - $0.2 million) from TIN for services rendered and expenses incurred on behalf of TIN. The costs recovered from TIN were recorded as a direct reduction of general and administrative expenses on the consolidated statements of income. In January 2024, the Company and TIN entered into an interest-free unsecured credit facility agreement with no conversion features (the “Facility”) to allow TIN to advance up to $1.0 million from the Company. As of March 31, 2024, the Company advanced $0.5 million to TIN and received 350,000 common shares of TIN as the Bonus Shares for granting the Facility. Subsequent to March 31, 2024, the Company advanced the remaining $0.5 million to TIN.
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, 2024 and 2023 were as follows: Years Ended March 31, 2024 2023 Cash compensation $ 3,403 $ 3,057 Share-based compensation 2,487 3,764 $ 5,890 $ 6,821

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
Schedule of Lowest Level of Input	As required by IFRS 13, 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, 2024 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 152,942 $ - $ - $ 152,942 Short-term investments - money market instruments 30,620 - - 30,620 Investments in public companies 41,818 - 1,217 43,035 Investments in private companies - - 3,219 3,219 Fair value as at March 31, 2023 Recurring measurements Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 145,692 $ - $ - $ 145,692 Short-term investments - money market instruments 53,829 - - 53,829 Investments in public companies 12,314 - - 12,314 Investments in private companies - - 3,226 3,226
Schedule of Remaining Contractual Maturities of Financial Liabilities	The following summarizes the remaining contractual maturities of the Company’s financial liabilities and operating commitments on an undiscounted basis. March 31, 2024 Within a year 2-5 years Over 5 years Total Accounts payable and accrued liabilities $ 41,797 $ - $ - $ 41,797 Lease obligation 284 1,095 338 1,717 Deposits received 4,223 - - 4,223 Total Contractual Obligation $ 46,304 $ 1,095 $ 338 $ 47,737
Schedule of Net Income Due to the Exchange Rates	The Company currently does not engage in foreign exchange currency hedging. The sensitivity of the Company’s net income due to the exchange rates of the Canadian dollar against the U.S. dollar and the Australian dollar as at March 31, 2024 is summarized as follows: Cash and cash Short-term Other investments Accounts payable Net financial Effect of +/- 10% US dollar $ 87,557 $ 1,329 $ 2,594 $ (169 ) $ 91,311 $ 9,131 Australian dollar 381 - 30,965 (737 ) 30,609 3,061 $ 87,938 $ 1,329 $ 33,559 $ (906 ) $ 121,920 $ 12,192

Supplementary Cash Flow Infor_2

Supplementary Cash Flow Information (Tables)	12 Months Ended
	Mar. 31, 2024
Supplementary Cash Flow Information [Abstract]
Schedule of Changes in Non-Cash Operating Working Capital	Year Ended March 31, Changes in non-cash operating working capital: 2024 2023 Trade and other receivables $ (479 ) $ 936 Inventories 610 79 Prepaids and deposits (2,411 ) (50 ) Accounts payable and accrued liabilities 6,549 (2,009 ) Deposits received 398 (938 ) Due from a related party (582 ) (28 ) $ 4,085 $ (2,010 )
Schedule of Non-Cash Capital Transactions	Year Ended March 31, Non-cash capital transactions: 2024 2023 Environmental rehablitation expenditure paid from reclamation deposit $ - $ 379 Additions of plant and equipment included in accounts payable and accrued liabilities 1,393 2,276 Capital expenditures of mineral rights and properties included in accounts payable and accrued liabilities $ (922 ) $ 590 March 31, 2024 March 31, 2023 Cash on hand and at bank $ 112,355 $ 50,871 Bank term deposits and short-term money market investments 40,587 94,821 Total cash and cash equivalents $ 152,942 $ 145,692

Material Accounting Policies (D

Material Accounting Policies (Details)	Mar. 31, 2024
Material Accounting Policies [Line Items]
Percentage of voting rights	19.90%
New Infini [Member]
Material Accounting Policies [Line Items]
Percentage of voting rights	46.20%
Bottom of Range [Member]
Material Accounting Policies [Line Items]
Percentage of voting rights	20%
Top of Range [Member]
Material Accounting Policies [Line Items]
Percentage of voting rights	50%

Material Accounting Policies _2

Material Accounting Policies (Details) - Schedule of Details of Company's Significant Subsidiaries		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Subsidiary One [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Silvercorp Metals China Inc.
Principal activity		Holding company
Country of incorporation		Canada
Proportion of ownership interest held		100%	100%
Subsidiary Two [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Silvercorp Metals (China) Inc.
Principal activity		Holding company
Country of incorporation		China
Proportion of ownership interest held		100%	100%
Subsidiary Three [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		0875786 B.C. LTD.
Principal activity		Holding company
Country of incorporation		Canada
Proportion of ownership interest held		100%	100%
Subsidiary Four [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Fortune Mining Limited
Principal activity		Holding company
Country of incorporation	[1]	BVI (i)
Proportion of ownership interest held		100%	100%
Subsidiary Five [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Fortune Copper Limited
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		100%	100%
Subsidiary Six [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Fortune Gold Mining Limited
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		100%	100%
Subsidiary Seven [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Victor Resources Ltd.
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		100%	100%
Subsidiary Eight [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Yangtze Mining Ltd.
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		100%	100%
Subsidiary Nine [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Victor Mining Ltd.
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		100%	100%
Subsidiary Ten [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Yangtze Mining (H.K.) Ltd.
Principal activity		Holding company
Country of incorporation		Hong Kong
Proportion of ownership interest held		100%	100%
Subsidiary Eleven [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Fortune Gold Mining (H.K.) Limited
Principal activity		Holding company
Country of incorporation		Hong Kong
Proportion of ownership interest held		100%	100%
Subsidiary Twelve [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Wonder Success Limited
Principal activity		Holding company
Country of incorporation		Hong Kong
Proportion of ownership interest held		100%	100%
Subsidiary Thirteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		New Infini Silver Inc. (“New Infini”)
Principal activity		Holding company
Country of incorporation		Canada
Proportion of ownership interest held		46.10%	46.10%
Subsidiary Fourteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Infini Metals Inc.
Principal activity		Holding company
Country of incorporation		BVI
Proportion of ownership interest held		46.10%	46.10%
Subsidiary Fifteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Infini Resources (Asia) Co. Ltd.
Principal activity		Holding company
Country of incorporation		Hong Kong
Proportion of ownership interest held		46.10%	46.10%
Subsidiary Sixteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Golden Land (Asia) Ltd.
Principal activity		Holding company
Country of incorporation		Hong Kong
Proportion of ownership interest held		46.10%	46.10%
Subsidiary Seventeen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Henan Huawei Mining Co. Ltd. (“Henan Huawei”)
Principal activity		Mining
Country of incorporation		China
Proportion of ownership interest held		80%	80%
Mineral properties		Ying Mining District
Subsidiary Eighteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Henan Found Mining Co. Ltd. (“Henan Found”)
Principal activity		Mining
Country of incorporation		China
Proportion of ownership interest held		77.50%	77.50%
Subsidiary Nineteen [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Xinshao Yunxiang Mining Co., Ltd. (“Yunxiang”)
Principal activity		Mining
Country of incorporation		China
Proportion of ownership interest held		70%	70%
Mineral properties		BYP
Subsidiary Twenty [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Guangdong Found Mining Co. Ltd. (“Guangdong Found”)
Principal activity		Mining
Country of incorporation		China
Proportion of ownership interest held		99%	99%
Mineral properties		GC
Subsidiary Twenty One [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Infini Resources S.A. de C.V.
Principal activity		Mining
Country of incorporation		Mexico
Proportion of ownership interest held		46.10%	46.10%
Mineral properties		La Yesca
Subsidiary Twenty Two [Member]
Schedule of Details of Company's Significant Subsidiaries [Line Items]
Name of subsidiaries		Shanxi Xinbaoyuan Mining Co., Ltd. (“Xinbaoyuan”)
Principal activity		Mining
Country of incorporation		China
Proportion of ownership interest held		77.50%	77.50%
Mineral properties		Kuanping
[1]British Virgin Islands (“BVI”)

Material Accounting Policies _3

Material Accounting Policies (Details) - Schedule of Details of Company's Associate	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Associates [Member]
Schedule of Details of Company's Associate [Line Items]
Name of associate	New Pacific Metals Corp. (“NUAG”)
Principal activity	Mining
Country of incorporation	Canada
Proportion of ownership interest held	27.40%	28.20%
Associates One [Member]
Schedule of Details of Company's Associate [Line Items]
Name of associate	Tincorp Metals Inc. (“TIN”, formerly Whitehorse Gold Corp.)
Principal activity	Mining
Country of incorporation	Canada
Proportion of ownership interest held	29.70%	29.30%

Material Accounting Policies _4

Material Accounting Policies (Details) - Schedule of Estimated Useful Lives	12 Months Ended
	Mar. 31, 2024
Buildings [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	20
Office equipment [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	5
Machinery [Member] | Minimum [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	5
Machinery [Member] | Maximum [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	10
Motor vehicles [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	5
Land use rights [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	50
Leasehold improvements [Member]
Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	Lesser of useful life or term of the lease

Segmented Information (Details)

Segmented Information (Details) - Schedule of Segment Information for Operating Results - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Segment Information for Operating Results [Line Items]
Revenue	$ 215,187	$ 208,129
Costs of mine operations	(134,598)	(137,346)
Income from mine operations	80,589	70,783
Operating expenses	(12,417)	(16,825)
Impairment of mineral rights and properties	(4,251)	(20,211)
Finance items, net	6,034	1,396
Income tax expenses	(20,277)	(14,043)
Net income (loss)	49,678	21,100
Equity holders of the Company	36,306	20,608
Non-controlling interests	13,372	492
Mining Henan Luoning [Member]
Schedule of Segment Information for Operating Results [Line Items]
Revenue	187,793	174,868
Costs of mine operations	(109,891)	(112,092)
Income from mine operations	77,902	62,776
Operating expenses	(3,335)	(2,540)
Impairment of mineral rights and properties
Finance items, net	2,237	2,526
Income tax expenses	(13,887)	(9,699)
Net income (loss)	62,917	53,063
Equity holders of the Company	49,396	41,600
Non-controlling interests	13,521	11,463
Mining Guangdong [Member]
Schedule of Segment Information for Operating Results [Line Items]
Revenue	27,394	33,261
Costs of mine operations	(24,312)	(24,831)
Income from mine operations	3,082	8,430
Operating expenses	291	(223)
Impairment of mineral rights and properties
Finance items, net	409	423
Income tax expenses	(333)	(617)
Net income (loss)	3,449	8,013
Equity holders of the Company	3,416	7,935
Non-controlling interests	33	78
Mining Other [Member]
Schedule of Segment Information for Operating Results [Line Items]
Revenue
Costs of mine operations	(395)	(423)
Income from mine operations	(395)	(423)
Operating expenses	(41)	(77)
Impairment of mineral rights and properties		(20,211)
Finance items, net	(26)	(29)
Income tax expenses	7	62
Net income (loss)	(455)	(20,678)
Equity holders of the Company	(281)	(9,948)
Non-controlling interests	(174)	(10,730)
Administrative Beijing [Member]
Schedule of Segment Information for Operating Results [Line Items]
Revenue
Costs of mine operations
Income from mine operations
Operating expenses	(2,002)	(1,832)
Impairment of mineral rights and properties
Finance items, net	174	271
Income tax expenses
Net income (loss)	(1,828)	(1,561)
Equity holders of the Company	(1,828)	(1,561)
Non-controlling interests
Administrative Vancouver [Member]
Schedule of Segment Information for Operating Results [Line Items]
Revenue
Costs of mine operations
Income from mine operations
Operating expenses	(7,330)	(12,153)
Impairment of mineral rights and properties	(4,251)
Finance items, net	3,240	(1,795)
Income tax expenses	(6,064)	(3,789)
Net income (loss)	(14,405)	(17,737)
Equity holders of the Company	(14,397)	(17,418)
Non-controlling interests	$ (8)	$ (319)

Segmented Information (Detail_2

Segmented Information (Details) - Schedule of Segment Information for Assets and Liabilities - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	$ 201,898	$ 219,048
Plant and equipment	79,898	80,059
Mineral rights and properties	318,833	303,426
Investment in associates	49,426	50,695
Other investments	46,254	15,540
Reclamation deposits	4,409	6,981
Long-term prepaids and deposits	1,634	871
Investment properties	463
Deferred income tax assets		179
Total assets	702,815	676,799
Current liabilities	47,154	41,240
Long-term portion of lease obligation	1,102	314
Deferred income tax liabilities	51,108	48,096
Environmental rehabilitation	6,442	7,318
Total liabilities	105,806	96,968
Mining Henan Luoning [Member]
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	91,777	112,936
Plant and equipment	61,350	59,854
Mineral rights and properties	264,903	251,150
Investment in associates
Other investments	63	65
Reclamation deposits	1,370	3,626
Long-term prepaids and deposits	1,104	686
Investment properties	463
Deferred income tax assets
Total assets	421,030	428,317
Current liabilities	38,271	33,102
Long-term portion of lease obligation
Deferred income tax liabilities	50,001	47,065
Environmental rehabilitation	4,000	4,883
Total liabilities	92,272	85,050
Mining Guangdong [Member]
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	9,272	20,605
Plant and equipment	13,648	15,289
Mineral rights and properties	34,409	32,070
Investment in associates
Other investments
Reclamation deposits	3,032	3,348
Long-term prepaids and deposits	129	89
Investment properties
Deferred income tax assets		179
Total assets	60,490	71,580
Current liabilities	5,621	5,509
Long-term portion of lease obligation
Deferred income tax liabilities	133
Environmental rehabilitation	1,486	1,477
Total liabilities	7,240	6,986
Mining Other [Member]
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	1,048	1,149
Plant and equipment	2,908	3,314
Mineral rights and properties	19,521	20,206
Investment in associates
Other investments
Reclamation deposits
Long-term prepaids and deposits	91	96
Investment properties
Deferred income tax assets
Total assets	23,568	24,765
Current liabilities	340	433
Long-term portion of lease obligation
Deferred income tax liabilities	974	1,031
Environmental rehabilitation	956	958
Total liabilities	2,270	2,422
Administrative Beijing [Member]
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	7,102	7,608
Plant and equipment	476	644
Mineral rights and properties
Investment in associates
Other investments
Reclamation deposits
Long-term prepaids and deposits
Investment properties
Deferred income tax assets
Total assets	7,578	8,252
Current liabilities	212	226
Long-term portion of lease obligation
Deferred income tax liabilities
Environmental rehabilitation
Total liabilities	212	226
Administrative Vancouver [Member]
Schedule of Segment Information for Assets and Liabilities [Line Items]
Current assets	92,699	76,750
Plant and equipment	1,516	958
Mineral rights and properties
Investment in associates	49,426	50,695
Other investments	46,191	15,475
Reclamation deposits	7	7
Long-term prepaids and deposits	310
Investment properties
Deferred income tax assets
Total assets	190,149	143,885
Current liabilities	2,710	1,970
Long-term portion of lease obligation	1,102	314
Deferred income tax liabilities
Environmental rehabilitation
Total liabilities	$ 3,812	$ 2,284

Segmented Information (Detail_3

Segmented Information (Details) - Schedule of Sales by Metal - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Sales by Metal [Line Items]
Sales generated	$ 215,187	$ 208,129
Gold [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	13,024	6,647
Silver [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	124,234	113,592
Lead [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	52,394	56,843
Zinc [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	19,102	24,823
Other [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	6,433	6,224
Henan Luoning [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	187,793	174,868
Henan Luoning [Member] | Gold [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	13,024	6,647
Henan Luoning [Member] | Silver [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	116,364	105,776
Henan Luoning [Member] | Lead [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	46,972	50,477
Henan Luoning [Member] | Zinc [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	6,904	7,881
Henan Luoning [Member] | Other [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	4,529	4,087
Guangdong [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	27,394	33,261
Guangdong [Member] | Gold [Member]
Schedule of Sales by Metal [Line Items]
Sales generated
Guangdong [Member] | Silver [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	7,870	7,816
Guangdong [Member] | Lead [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	5,422	6,366
Guangdong [Member] | Zinc [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	12,198	16,942
Guangdong [Member] | Other [Member]
Schedule of Sales by Metal [Line Items]
Sales generated	$ 1,904	$ 2,137

Segmented Information (Detail_4

Segmented Information (Details) - Schedule of Revenue from Major Customers - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2022
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 188,555	$ 165,974
Percentage of total revenue	87%	79%
Customer A [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 56,001	$ 33,385
Percentage of total revenue	26%	16%
Customer B [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 50,697	$ 34,331
Percentage of total revenue	24%	17%
Customer C [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 18,182	$ 42,234
Percentage of total revenue	8%	20%
Customer D [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 39,770	$ 40,443
Percentage of total revenue	18%	19%
Customer E [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 23,905	$ 15,581
Percentage of total revenue	11%	7%
Henan Luoning [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 178,460	$ 162,817
Henan Luoning [Member] | Customer A [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	51,471	33,385
Henan Luoning [Member] | Customer B [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	50,697	34,331
Henan Luoning [Member] | Customer C [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	15,844	41,547
Henan Luoning [Member] | Customer D [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	39,770	40,443
Henan Luoning [Member] | Customer E [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	20,678	13,111
Guangdong [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	10,095	3,157
Guangdong [Member] | Customer A [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	4,530
Guangdong [Member] | Customer B [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue
Guangdong [Member] | Customer C [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	2,338	687
Guangdong [Member] | Customer D [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue
Guangdong [Member] | Customer E [Member]
Schedule of Revenue from Major Customers [Line Items]
Total revenue	$ 3,227	$ 2,470

Government Fees And Other Tax_3

Government Fees And Other Taxes (Details) - Schedule of Government Fees and Other Taxes - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Government Fees and Other Taxes [Abstract]
Government fees	$ 61	$ 69
Other taxes	2,580	2,319
Total government fees and other taxes	$ 2,641	$ 2,388

General and Administrative (Det

General and Administrative (Details) - Schedule of General and Administrative Expenses - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of General and Administrative Expenses [Line Items]
Amortization and depreciation	$ 1,682	$ 1,762
Office and administrative expenses	4,655	4,442
Professional fees	1,425	1,101
Salaries and benefits	13,009	12,589
Share-based compensation	4,146	3,842
Total	24,917	23,736
Corporate [Member]
Schedule of General and Administrative Expenses [Line Items]
Amortization and depreciation	588	573
Office and administrative expenses	2,042	1,834
Professional fees	860	669
Salaries and benefits	6,459	6,331
Share-based compensation	4,146	3,842
Total	14,095	13,249
Mines [Member]
Schedule of General and Administrative Expenses [Line Items]
Amortization and depreciation	1,094	1,189
Office and administrative expenses	2,613	2,608
Professional fees	565	432
Salaries and benefits	6,550	6,258
Share-based compensation
Total	$ 10,822	$ 10,487

Finance Items (Details) - Sched

Finance Items (Details) - Schedule of Finance Items - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finance income
Interest income	$ 6,247	$ 4,578
Dividend income		76
Total Interest income	6,247	4,654
Finance costs
Interest on lease obligation	22	43
Impairment charges for expected credit loss against bond investments		2,883
Loss on disposal of bonds		93
Unwinding of discount of environmental rehabilitation provision (Note 16)	191	239
Total finance costs	$ 213	$ 3,258

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Disclosure of Income Tax Text Block [Abstract]
Temporary differences associated with the investments in subsidiaries	$ 174.2	$ 188.6

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of Income Tax Expense - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Income Tax Expense [Abstract]
Current	$ 14,671	$ 9,358
Deferred	5,606	4,685
Income tax expense	$ 20,277	$ 14,043

Income Tax (Details) - Schedu_2

Income Tax (Details) - Schedule of Reconciliation of Effective Statutory Income Tax Rates - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Reconciliation of Effective Statutory Income Tax Rates [Abstract]
Canadian statutory tax rate	27%	27%
Income before income taxes	$ 69,955	$ 35,143
Income tax expense computed at Canadian statutory rates	18,888	9,489
Foreign tax rates different from statutory rate	(6,579)	(4,976)
Permanent items	(351)	(1,048)
Withholding taxes	6,064	3,789
Change in unrecognized deferred tax assets	2,255	6,789
Income tax expense	$ 20,277	$ 14,043

Income Tax (Details) - Schedu_3

Income Tax (Details) - Schedule of Deferred Income Tax Assets (liabilities) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Deferred Income Tax Assets (liabilities) [Abstract]
Net deferred income tax liabilities, beginning of the year	$ (47,917)	$ (47,128)
Deferred income tax expense recognized in net income for the year	(5,606)	(4,685)
Deferred income tax expense recognized in other comprehensive income for the year		240
Foreign exchange impact	2,415	3,656
Net deferred income tax liabilities, end of the year	$ (51,108)	$ (47,917)

Income Tax (Details) - Schedu_4

Income Tax (Details) - Schedule of Deferred Income Tax - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Deferred income tax assets
Total deferred income tax assets	$ 16,219	$ 4,970
Deferred income tax liabilities
Total deferred income tax liabilities	(67,327)	(52,887)
Net deferred income tax liabilities	(51,108)	(47,917)	$ (47,128)
Of which
Deferred tax assets		179
Deferred tax liabilities	(51,108)	(48,096)
Plant and equipment [Member]
Deferred income tax assets
Total deferred income tax assets	13,121	2,054
Deferred income tax liabilities
Total deferred income tax liabilities		(1,905)
Non-capital loss carry forwards [Member]
Deferred income tax assets
Total deferred income tax assets	806	747
Environmental rehabilitation [Member]
Deferred income tax assets
Total deferred income tax assets	1,462	1,765
Unrealized loss on investments [Member]
Deferred income tax assets
Total deferred income tax assets	503	363
Other deductible temporary difference [Member]
Deferred income tax assets
Total deferred income tax assets	327	41
Mineral rights and properties [Member]
Deferred income tax liabilities
Total deferred income tax liabilities	(67,174)	(50,821)
Other taxable temporary difference [Member]
Deferred income tax liabilities
Total deferred income tax liabilities	$ (153)	$ (161)

Income Tax (Details) - Schedu_5

Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses [Line Items]
Deferred tax asset	$ 95,608	$ 91,669
Non-capital loss carry forwards [Member]
Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses [Line Items]
Deferred tax asset	77,298	65,200
Plant and equipment [Member]
Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses [Line Items]
Deferred tax asset	2,003	2,553
Mineral rights and properties [Member]
Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses [Line Items]
Deferred tax asset	6,199	3,562
Other deductible temporary difference [Member]
Income Tax (Details) - Schedule of Temporary Differences and Unused Tax Losses [Line Items]
Deferred tax asset	$ 10,108	$ 20,354

Income Tax (Details) - Schedu_6

Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years	12 Months Ended
	Mar. 31, 2024 USD ($)
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	$ 77,298
2024 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	792
2025 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	234
2026 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,147
2027 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,684
2028 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,996
2029 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,083
2030 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,288
2031 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	9,123
2032 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	9,389
2033 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	7,379
2034 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,701
2035 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	113
2036 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	540
2037 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	2,357
2038 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	2,663
2039 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,988
2040 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	3,921
2041 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	84
2042 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,773
2043 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	8,007
2044 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	5,036
China [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	5,852
China [Member] | 2024 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	792
China [Member] | 2025 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	234
China [Member] | 2026 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,147
China [Member] | 2027 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,684
China [Member] | 2028 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,995
Canada [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	71,446
Canada [Member] | 2028 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1
Canada [Member] | 2029 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,083
Canada [Member] | 2030 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,288
Canada [Member] | 2031 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	9,123
Canada [Member] | 2032 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	9,389
Canada [Member] | 2033 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	7,379
Canada [Member] | 2034 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,701
Canada [Member] | 2035 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	113
Canada [Member] | 2036 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	540
Canada [Member] | 2037 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	2,357
Canada [Member] | 2038 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	2,663
Canada [Member] | 2039 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	1,988
Canada [Member] | 2040 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	3,921
Canada [Member] | 2041 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	84
Canada [Member] | 2042 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	6,773
Canada [Member] | 2043 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	8,007
Canada [Member] | 2044 [Member]
Income Tax (Details) - Schedule of Net Operating Losses Expiring in Various Years [Line Items]
Net Operating Losses	$ 5,036

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Short-Term Investments [Abstract]
Short-term investments	$ 1.4
Impairment charges		$ 2.9

Short-Term Investments (Detai_2

Short-Term Investments (Details) - Schedule of Short-term Investments - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Short-term Investments [Line Items]
Carrying value	$ 31,949	$ 57,631
Bonds [Member]
Schedule of Short-term Investments [Line Items]
Carrying value	$ 1,329	$ 3,802
Maturity	June 9, 2024 - January 16, 2025	July 17, 2023 - January 16, 2025
Money market instruments [Member]
Schedule of Short-term Investments [Line Items]
Carrying value	$ 30,620	$ 53,829
Bottom of Range [Member] | Bonds [Member]
Schedule of Short-term Investments [Line Items]
Interest rates	5.50%	5.50%
Top of Range [Member] | Bonds [Member]
Schedule of Short-term Investments [Line Items]
Interest rates	6.90%	13%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Inventories [Abstract]
Amount of inventories recognized as expense	$ 115.9	$ 119.4

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Inventories [Abstract]
Concentrate inventory	$ 1,525	$ 2,556
Stockpile	2,176	1,234
Material and supplies	3,694	4,553
Total inventories	$ 7,395	$ 8,343

Other Investments (Details)

Other Investments (Details) $ / shares in Units, $ in Millions				1 Months Ended	12 Months Ended
	Apr. 30, 2024 AUD ($)	Nov. 23, 2023 AUD ($) shares	Aug. 06, 2023 shares	Dec. 31, 2023 shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2024 AUD ($) $ / shares shares
Other Investments [Line Items]
Shares received | shares			0.15
Silvercorp common shares | shares			0.0967
Outstanding ordinary shares percentage				15.74%
Securities exchange value					$ 1.1
Cash consideration						$ 0.19
Common share | shares					0.0967	0.0967
Acquiring voting interest						19.90%
Interest rate					50.10%	50.10%
Break fee payable	$ 2,800,000					$ 2,800,000
Minimum interest rate					50.10%	50.10%
Offer and received amount	$ 42,500,000
Gain on market due					$ 7.7
Net break fee recovery amount					$ 0.3
Bottom of range [member]
Other Investments [Line Items]
Cash consideration		$ 0.15
Acquiring voting interest						20%
Top of range [member]
Other Investments [Line Items]
Cash consideration		$ 0.19
Acquiring voting interest						50%
Silvercorp [Member]
Other Investments [Line Items]
Common share | shares		0.0967
OreCorp [Member]
Other Investments [Line Items]
Share purchase | shares					70,411,334	70,411,334
Price per share | $ / shares						$ 0.4
Aggregate proceeds					$ 18.5	$ 28,000,000
Outstanding ordinary shares percentage					15%	15%
Acquired additional shares | shares					3,477,673	3,477,673
Ordinary shares | shares				73,889,007

Other Investments (Details) - S

Other Investments (Details) - Schedule of Equity Investments Designated - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Investments designated as FVTOCI
Equity investments designated as FVTOCI	$ 609	$ 983
Investments designated as FVTPL
Equity investments designated as FVTPL	45,645	14,557
Total	46,254	15,540
Public companies [Member]
Investments designated as FVTOCI
Equity investments designated as FVTOCI	547	918
Investments designated as FVTPL
Equity investments designated as FVTPL	42,488	11,396
Private companies [Member]
Investments designated as FVTOCI
Equity investments designated as FVTOCI	62	65
Investments designated as FVTPL
Equity investments designated as FVTPL	$ 3,157	$ 3,161

Other Investments (Details) -_2

Other Investments (Details) - Schedule of Continuity of Investments - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value [Member]
Schedule of Continuity of Investments [Line Items]
Beginning	$ 15,540	$ 17,768
Loss (Gain) on equity investments designated as FVTOCI	(67)	(1,312)
Loss (Gain) equity investments designated as FVTPL	9,074	(2,318)
Acquisition	23,305	3,702
Disposal	(1,492)	(1,035)
Impact of foreign currency translation	(106)	(1,265)
Ending	46,254	15,540
Accumulated fair value change included in OCI [Member]
Schedule of Continuity of Investments [Line Items]
Beginning	(25,648)	(24,336)
Loss (Gain) on equity investments designated as FVTOCI	(67)	(1,312)
Loss (Gain) equity investments designated as FVTPL
Acquisition
Disposal
Impact of foreign currency translation
Ending	(25,715)	(25,648)
Accumulated fair value change included in P&L [Member]
Schedule of Continuity of Investments [Line Items]
Beginning	1,385	3,703
Loss (Gain) on equity investments designated as FVTOCI
Loss (Gain) equity investments designated as FVTPL	9,074	(2,318)
Acquisition
Disposal
Impact of foreign currency translation
Ending	$ 10,459	$ 1,385

Investment in Associates (Detai

Investment in Associates (Details) $ in Thousands			1 Months Ended	12 Months Ended
	Jan. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Investment in Associates [Line Items]
Shares purchased				11,200	309,400
Shares purchased, value (in Dollars)				$ 15	$ 874
Dilution gain (in Dollars)				$ 700
Exercise price (in Dollars per share) | $ / shares		$ 0.65
Warrant expiration date		Dec. 15, 2024
Facility maturity date				Jan. 31, 2025
Impairment loss (in Dollars)				$ 4,251
Unsecured Credit Facility [Member]
Investment in Associates [Line Items]
Loan advanced (in Dollars)	$ 1,000
New Pacific Metals Corp [Member]
Investment in Associates [Line Items]
Loan advanced (in Dollars)	$ 500
New Pacific Metals Corp [Member]
Investment in Associates [Line Items]
Shares purchased				46,904,706	44,351,616	2,541,890
Shares purchased, value (in Dollars)						$ 5,000
Diluted percentage				27.40%
Dilution gain (in Dollars)				$ 733
Proportion of ownership interest held				27.40%	28.20%
Investment percentage				100%
Tincorp Metals Inc ("TIN") [Member]
Investment in Associates [Line Items]
Shares purchased		4,000,000
Shares purchased, value (in Dollars)		$ 1,200
Dilution gain (in Dollars)					$ (107)
Proportion of ownership interest held				29.70%	29.30%
Investment percentage				100%
Shares received (in Shares) | shares	350,000
Impairment loss (in Dollars)				$ (4,251)
Tincorp Metals Inc ("TIN") [Member] | Non-adjusting event after reporting period [Member] | Unsecured Credit Facility [Member]
Investment in Associates [Line Items]
Loan advanced (in Dollars)			$ 500
Tincorp Metals Inc ("TIN") 9Member]
Investment in Associates [Line Items]
Shares purchased				19,864,285	19,514,285

Investment in Associates (Det_2

Investment in Associates (Details) - Schedule of Investment in Common Shares and Market Value as Balance Sheet Dates $ in Thousands, $ in Thousands		12 Months Ended
		Mar. 31, 2024 USD ($) shares	Mar. 31, 2024 CAD ($) shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2023 CAD ($) shares
NUAG [Member]
Investment in Associates (Details) - Schedule of Investment in Common Shares and Market Value as Balance Sheet Dates [Line Items]
Balance, Number of shares beginning (in Shares) | shares		44,351,616	44,351,616	44,042,216	44,042,216
Balance, Amount, beginning		$ 43,253		$ 49,437
Balance, Value of common shares per quoted market price, beginning (in Dollars)			$ 119,621		$ 140,275
Participation in bought deal, Number of shares (in Shares) | shares		2,541,890	2,541,890
Participation in bought deal, Amount		$ 4,982
Dilution Gain (loss), Amount		$ 733
Purchase from open market, Number of shares (in Shares) | shares		11,200	11,200	309,400	309,400
Purchase from open market, Amount		$ 15		$ 874
Share of net loss, Amount	[1]	(1,784)		(2,411)
Share of other comprehensive income (Loss), Amount		(28)		(894)
Foreign exchange impact, Amount		$ (91)		$ (3,753)
Balance, Number of shares, ending balance (in Shares) | shares		46,904,706	46,904,706	44,351,616	44,351,616
Balance, Amount, ending balance		$ 47,080		$ 43,253
Balance, Value of common shares per quoted market price, ending balance (in Dollars)			$ 63,693		$ 119,621
TIN [Member]
Investment in Associates (Details) - Schedule of Investment in Common Shares and Market Value as Balance Sheet Dates [Line Items]
Balance, Number of shares beginning (in Shares) | shares		19,514,285	19,514,285	15,514,285	15,514,285
Balance, Amount, beginning		$ 7,442		$ 7,404
Balance, Value of common shares per quoted market price, beginning (in Dollars)			$ 6,777		$ 6,208
Tincorp shares received under credit facility agreement, Number of shares (in Shares) | shares		350,000	350,000
Tincorp shares received under credit facility agreement, Amount		$ 78
Impairment, Amount		(4,251)
Dilution Gain (loss), Amount				$ (107)
Participation in private placement, Number of shares (in Shares) | shares				4,000,000	4,000,000
Participation in private placement, Amount				$ 1,181
Share of net loss, Amount	[2]	(908)		(490)
Share of other comprehensive income (Loss), Amount		(8)		8
Foreign exchange impact, Amount		$ (7)		$ (554)
Balance, Number of shares, ending balance (in Shares) | shares		19,864,285	19,864,285	19,514,285	19,514,285
Balance, Amount, ending balance		$ 2,346		$ 7,442
Balance, Value of common shares per quoted market price, ending balance (in Dollars)			$ 2,346		$ 6,777
[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.[2]TIN’s fiscal year-end is on December 31. TIN’s quarterly financial results were used to compile the financial information that matched with the Company’s year-end on March 31.

Investment in Associates (Det_3

Investment in Associates (Details) - Schedule of Financial Information for Investment - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
NUAG [Member]
Investment in Associates (Details) - Schedule of Financial Information for Investment [Line Items]
Net loss attributable to shareholders as reported	[1]	$ (6,404)	$ (8,569)
Net loss of NUAG qualified for pick-up	[1]	(6,404)	(8,569)
Other comprehensive income (loss) attributable to shareholders	[1]	(104)	(3,161)
Comprehensive loss of qualified for pick-up	[1]	(6,508)	(11,730)
Company’s share of net loss	[1]	(1,784)	(2,411)
Company’s share of other comprehensive income (loss)	[1]	(28)	(894)
Company’s share of comprehensive loss	[1]	(1,812)	(3,305)
TIN [Member]
Investment in Associates (Details) - Schedule of Financial Information for Investment [Line Items]
Net loss attributable to shareholders as reported	[2]	(3,075)	(1,666)
Other comprehensive income (loss) attributable to shareholders	[2]	(26)	30
Comprehensive loss of qualified for pick-up	[2]	(3,101)	(1,636)
Company’s share of net loss	[2]	(908)	(490)
Company’s share of other comprehensive income (loss)	[1],[2]	(8)	8
Company’s share of comprehensive loss	[2]	$ (916)	$ (482)
[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.[2]TIN’s fiscal year-end is on December 31. TIN’s quarterly financial results were used to compile the financial information that matched with the Company’s year-end on March 31.

Investment in Associates (Det_4

Investment in Associates (Details) - Schedule of Consolidated Financial Statements - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
NUAG [Member]
Investment in Associates (Details) - Schedule of Consolidated Financial Statements [Line Items]
Current assets	$ 24,509	$ 12,020
Non-current assets	114,048	107,788
Total assets	138,557	119,808
Current liabilities	842	3,493
Total liabilities	842	3,493
Net assets	137,715	116,315
Non-controlling interests	(155)	(88)
Total equity attributable to equity holders of NUAG	137,870	116,403
Company’s share of net assets of associate	37,719	32,794
Fair value adjustments	9,361	10,459
Carrying value of the investment	47,080	43,253	$ 49,437
TIN [Member]
Investment in Associates (Details) - Schedule of Consolidated Financial Statements [Line Items]
Current assets	250	2,640
Non-current assets	20,899	20,701
Total assets	21,149	23,341
Current liabilities	1,303	746
Total liabilities	1,303	746
Net assets	19,846	22,595
Company’s share of net assets of associate	5,892	6,625
Fair value adjustments	(3,546)	817
Carrying value of the investment	$ 2,346	$ 7,442	$ 7,404

Investment Properties (Details)

Investment Properties (Details) $ in Millions	12 Months Ended
	Mar. 31, 2024 USD ($)
Investment Properties [Abstract]
Estimated useful life asset	20 years
Fair value properties	$ 2.8
Rental income	$ 0.1

Investment Properties (Detail_2

Investment Properties (Details) - Schedule of Investment Properties $ in Thousands	12 Months Ended
	Mar. 31, 2024 USD ($)
Schedule of Investment Properties [Line Items]
Balance
Balance	463
Carrying amounts [Member]
Schedule of Investment Properties [Line Items]
Balance
Balance	463
Cost [Member]
Schedule of Investment Properties [Line Items]
Balance
Additions	287
Transfer from property, plant, and equipment	837
Impact of foreign currency translation	(9)
Balance	1,115
Accumulated depreciation and amortization [Member]
Schedule of Investment Properties [Line Items]
Balance
Depreciation and amortization	(39)
Transfer from property, plant, and equipment	(619)
Impact of foreign currency translation	6
Balance	$ (652)

Plant and Equipment (Details) -

Plant and Equipment (Details) - Schedule of Plant and Equipment - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cost [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	$ 172,664	$ 173,551
Additions	12,916	15,569
Disposals	(2,639)	(3,075)
Reclassification of asset groups
Impact of foreign currency translation	(8,475)	(13,381)
Balance at end of year	174,466	172,664
Cost [Member] | Land and buildings [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	112,121	117,247
Additions	1,020	499
Disposals	(1,082)	(985)
Reclassification of asset groups	2,209	4,400
Impact of foreign currency translation	(5,459)	(9,040)
Balance at end of year	108,809	112,121
Cost [Member] | Office equipment [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	10,879	11,009
Additions	853	1,169
Disposals	(234)	(511)
Reclassification of asset groups	461	33
Impact of foreign currency translation	(495)	(821)
Balance at end of year	11,464	10,879
Cost [Member] | Machinery [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	34,374	34,379
Additions	1,965	3,097
Disposals	(1,033)	(1,085)
Reclassification of asset groups	840	655
Impact of foreign currency translation	(1,723)	(2,672)
Balance at end of year	34,423	34,374
Cost [Member] | Motor vehicles [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	8,062	8,313
Additions	609	879
Disposals	(290)	(494)
Reclassification of asset groups	(410)
Impact of foreign currency translation	(394)	(636)
Balance at end of year	7,577	8,062
Cost [Member] | Construction in progress [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	7,228	2,603
Additions	8,469	9,925
Disposals
Reclassification of asset groups	(3,100)	(5,088)
Impact of foreign currency translation	(404)	(212)
Balance at end of year	12,193	7,228
Impairment, accumulated depreciation and amortization [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	(92,605)	(94,133)
Disposals	1,496	2,407
Depreciation and amortization	(7,999)	(8,135)
Impact of foreign currency translation	4,540	7,256
Balance at end of year	(94,568)	(92,605)
Impairment, accumulated depreciation and amortization [Member] | Land and buildings [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	(56,781)	(57,584)
Disposals	778	733
Depreciation and amortization	(4,315)	(4,373)
Impact of foreign currency translation	2,777	4,443
Balance at end of year	(57,541)	(56,781)
Impairment, accumulated depreciation and amortization [Member] | Office equipment [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	(7,142)	(7,232)
Disposals	216	500
Depreciation and amortization	(1,031)	(940)
Impact of foreign currency translation	316	530
Balance at end of year	(7,641)	(7,142)
Impairment, accumulated depreciation and amortization [Member] | Machinery [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	(23,213)	(23,665)
Disposals	291	767
Depreciation and amortization	(2,263)	(2,162)
Impact of foreign currency translation	1,176	1,847
Balance at end of year	(24,009)	(23,213)
Impairment, accumulated depreciation and amortization [Member] | Motor vehicles [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	(5,469)	(5,652)
Disposals	211	407
Depreciation and amortization	(390)	(660)
Impact of foreign currency translation	271	436
Balance at end of year	(5,377)	(5,469)
Impairment, accumulated depreciation and amortization [Member] | Construction in progress [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year
Disposals
Depreciation and amortization
Impact of foreign currency translation
Balance at end of year
Carrying amounts [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	80,059
Balance at end of year	79,898	80,059
Carrying amounts [Member] | Land and buildings [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	55,340
Balance at end of year	51,268	55,340
Carrying amounts [Member] | Office equipment [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	3,737
Balance at end of year	3,823	3,737
Carrying amounts [Member] | Machinery [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	11,161
Balance at end of year	10,414	11,161
Carrying amounts [Member] | Motor vehicles [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	2,593
Balance at end of year	2,200	2,593
Carrying amounts [Member] | Construction in progress [Member]
Schedule of Plant and Equipment [Line Items]
Balance at beginning year	7,228
Balance at end of year	$ 12,193	$ 7,228

Plant and Equipment (Details)_2

Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	$ 79,898	$ 80,059
Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	61,350	59,854
GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	13,648	15,289
Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	2,908	3,314
Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	1,992	1,602
Land use rights and building [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	51,268	55,340
Land use rights and building [Member] | Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	37,669	41,155
Land use rights and building [Member] | GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	9,629	10,403
Land use rights and building [Member] | Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	2,183	2,490
Land use rights and building [Member] | Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	1,787	1,292
Office equipment [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	3,823	3,737
Office equipment [Member] | Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	3,185	2,991
Office equipment [Member] | GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	415	440
Office equipment [Member] | Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	46	63
Office equipment [Member] | Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	177	243
Machinery [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	10,414	11,161
Machinery [Member] | Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	6,942	7,433
Machinery [Member] | GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	3,344	3,568
Machinery [Member] | Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	128	160
Machinery [Member] | Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment
Motor vehicles [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	2,200	2,593
Motor vehicles [Member] | Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	1,905	2,067
Motor vehicles [Member] | GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	198	367
Motor vehicles [Member] | Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	69	92
Motor vehicles [Member] | Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	28	67
Construction in progress [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	12,193	7,228
Construction in progress [Member] | Ying Mining District [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	11,649	6,208
Construction in progress [Member] | GC [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	62	511
Construction in progress [Member] | Other [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment	482	509
Construction in progress [Member] | Corporate [Member]
Plant and Equipment (Details) - Schedule of Carrying Amount of Plant and Equipment [Line Items]
Plant and equipment

Mineral Rights and Properties_2

Mineral Rights and Properties (Details) $ in Millions	12 Months Ended
	Mar. 31, 2024 USD ($)
Mineral Rights and Properties [Abstract]
Impairment charges	$ 20.2

Mineral Rights and Properties_3

Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cost [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	$ 619,458	$ 620,048
Balance as at April 1, 2022	643,399	619,458
Impairment and accumulated depletion
Capitalized expenditures	51,125	42,254
Environmental rehabilitation	260	(248)
Foreign currency translation impact	(27,444)	(42,596)
Cost [Member] | Producing and development properties Ying Mining District [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	402,012	397,335
Balance as at April 1, 2022	426,560	402,012
Impairment and accumulated depletion
Capitalized expenditures	44,633	35,632
Environmental rehabilitation	89	(224)
Foreign currency translation impact	(20,174)	(30,731)
Cost [Member] | Producing and development properties BYP [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	63,864	65,092
Balance as at April 1, 2022	63,186	63,864
Impairment and accumulated depletion
Capitalized expenditures
Environmental rehabilitation	20	(36)
Foreign currency translation impact	(698)	(1,192)
Cost [Member] | Producing and development properties GC [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	120,118	124,906
Balance as at April 1, 2022	120,557	120,118
Impairment and accumulated depletion
Capitalized expenditures	6,202	4,839
Environmental rehabilitation	151	12
Foreign currency translation impact	(5,914)	(9,639)
Cost [Member] | Exploration and evaluation properties Kuanping [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	13,253	13,380
Balance as at April 1, 2022	12,885	13,253
Impairment and accumulated depletion
Capitalized expenditures	290	907
Environmental rehabilitation
Foreign currency translation impact	(658)	(1,034)
Cost [Member] | Exploration and evaluation properties La Yesca [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	20,211	19,335
Balance as at April 1, 2022	20,211	20,211
Impairment and accumulated depletion
Capitalized expenditures		876
Environmental rehabilitation
Foreign currency translation impact
Impairment and accumulated depletion [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	(316,032)	(293,600)
Balance as at April 1, 2022	(324,566)	(316,032)
Impairment and accumulated depletion
Impairment		(20,211)
Depletion	(20,784)	(21,087)
Foreign currency translation impact	12,250	18,866
Impairment and accumulated depletion [Member] | Producing and development properties Ying Mining District [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	(150,862)	(143,264)
Balance as at April 1, 2022	(161,657)	(150,862)
Impairment and accumulated depletion
Impairment
Depletion	(18,379)	(18,689)
Foreign currency translation impact	7,584	11,091
Impairment and accumulated depletion [Member] | Producing and development properties BYP [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	(56,911)	(57,521)
Balance as at April 1, 2022	(56,550)	(56,911)
Impairment and accumulated depletion
Impairment
Depletion
Foreign currency translation impact	361	610
Impairment and accumulated depletion [Member] | Producing and development properties GC [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	(88,048)	(92,815)
Balance as at April 1, 2022	(86,148)	(88,048)
Impairment and accumulated depletion
Impairment
Depletion	(2,405)	(2,398)
Foreign currency translation impact	4,305	7,165
Impairment and accumulated depletion [Member] | Exploration and evaluation properties Kuanping [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022
Balance as at April 1, 2022
Impairment and accumulated depletion
Impairment
Depletion
Foreign currency translation impact
Impairment and accumulated depletion [Member] | Exploration and evaluation properties La Yesca [Member]
Mineral Rights and Properties (Details) - Schedule of Mineral Rights and Properties [Line Items]
Balance as at April 1, 2022	(20,211)
Balance as at April 1, 2022	(20,211)	(20,211)
Impairment and accumulated depletion
Impairment		(20,211)
Depletion
Foreign currency translation impact
Carrying amounts [Member]
Carrying amounts
Carrying amounts	318,833	303,426
Carrying amounts [Member] | Producing and development properties Ying Mining District [Member]
Carrying amounts
Carrying amounts	264,903	251,150
Carrying amounts [Member] | Producing and development properties BYP [Member]
Carrying amounts
Carrying amounts	6,636	6,953
Carrying amounts [Member] | Producing and development properties GC [Member]
Carrying amounts
Carrying amounts	34,409	32,070
Carrying amounts [Member] | Exploration and evaluation properties Kuanping [Member]
Carrying amounts
Carrying amounts	12,885	13,253
Carrying amounts [Member] | Exploration and evaluation properties La Yesca [Member]
Carrying amounts
Carrying amounts

Leases (Details)

Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Contract cash payment (in Dollars)	$ 1.7
Lease obligation discount rate	9.20%
Estimated incremental borrowing rate		5%

Leases (Details) - Schedule of

Leases (Details) - Schedule of Lease Receivable and Lease Obligation - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lease Receivable [Member]
Schedule of Lease Receivable and Lease Obligation [Line Items]
Balance, beginning		$ 182
Addition
Less: current portion
Non-current portion
Interest accrual		4
Interest received or paid		(4)
Principal repayment		(172)
Foreign exchange impact		(10)
Balance, ending
Lease Obligation [Member]
Schedule of Lease Receivable and Lease Obligation [Line Items]
Balance, beginning	583	1,263
Addition	998
Less: current portion	(213)
Non-current portion	1,102
Interest accrual	22	43
Interest received or paid	(22)	(43)
Principal repayment	(262)	(597)
Foreign exchange impact	(4)	(83)
Balance, ending	$ 1,315	$ 583

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Reconciliation of Company Undiscounted Cash Flows to Present Value - Lease Obligation [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Schedule of Reconciliation of Company Undiscounted Cash Flows to Present Value [Line Items]
Total undiscounted amount	$ 1,717
Less future interest	(402)
Total discounted amount	1,315	$ 583	$ 1,263
Less: current portion	(213)
Non-current portion	1,102
Within 1 year [Member]
Schedule of Reconciliation of Company Undiscounted Cash Flows to Present Value [Line Items]
Total undiscounted amount	284
Between 2 to 5 years [Member]
Schedule of Reconciliation of Company Undiscounted Cash Flows to Present Value [Line Items]
Total undiscounted amount	1,095
Over 5 years [Member]
Schedule of Reconciliation of Company Undiscounted Cash Flows to Present Value [Line Items]
Total undiscounted amount	$ 338

Environmental Rehabilitation _3

Environmental Rehabilitation Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Environmental Rehabilitation Obligation [Abstract]
Environmental rehabilitation provision	$ 8.6	$ 10.2
Average discount rate	2.26%	2.83%
Reclamation expenditures amount	$ 1	$ 0.7
Reclamation deposit paid amount	1.1	0.3
Received reclamation deposit	$ 3	$ 1.2

Environmental Rehabilitation _4

Environmental Rehabilitation Obligation (Details) - Schedule of Reconciliation of Obligations Associated Retirement Properties - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Reconciliation of Obligations Associated Retirement Properties [Abstract]
Balance, beginning	$ 7,318	$ 8,739
Reclamation expenditures	(970)	(740)
Unwinding of discount of environmental rehabilitation	191	239
Revision of provision	259	(248)
Foreign exchange impact	(356)	(672)
Balance, ending	$ 6,442	$ 7,318

Share Capital (Details)

Share Capital (Details)						12 Months Ended
	Sep. 15, 2023 shares	Aug. 28, 2022 shares	Aug. 24, 2022 $ / shares shares	Aug. 25, 2021 USD ($) shares	Aug. 25, 2021 $ / shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2024 $ / shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022
Share Capital [Line Items]
Issued and outstanding common shares						10%
RSU granted						3%
Share-based compensation (in Dollars) | $						$ 4,146,000		$ 3,842,000
Description of options vested						The options were granted to directors, officers, and employees with a life of five years subject to a vesting schedule over a three-year term with 1/6 of the options vesting every six months from the date of grant until fully vested.
Employees life of years						5 years
Stock option | shares						330,000
Exercise price (in Dollars per share)							$ 4.41
Share option							1,327,001	1,431,668	995,335
Exercise price, per share (in Dollars per share)							$ 3.93
Option granted								595,000
Options distributed | shares						296,662
Cash dividends declared (in Dollars) | $						$ 4,428,000		$ 4,425,000
Cash dividends declared (in Dollars per share)						$ 0.025		$ 0.025
Common shares | shares				7,054,000		191,770
Common shares cost (in Dollars) | $				$ 739,960
Weighted average price (in Dollars per share)					$ 3.25		3.16
Repurchase common shares | shares	8,487,191	7,079,407	294,831
Total repurchasing cost (in Dollars) | $						$ 3,100,000
Anti-dilutive options and warrants | shares						1,327,001		1,431,668
Bottom of Range [Member]
Share Capital [Line Items]
Options cancelled (in Dollars per share)							3.93
Top of Range [Member]
Share Capital [Line Items]
Options cancelled (in Dollars per share)							9.45
RSUs [Member] | Directors, Officers, and Employees [Member]
Share Capital [Line Items]
Option granted						1,056,000
RSUs [Member] | Directors, Officers, and Employees [Member] | Bottom of Range [Member]
Share Capital [Line Items]
Exercise price (in Dollars per share)							$ 5.28
Restricted Share Units One [Member] | Directors, Officers, and Employees [Member]
Share Capital [Line Items]
Option granted						1,044,750
2023 NCIB [Member]
Share Capital [Line Items]
Weighted average price (in Dollars per share)			$ 3.49
Stock Options [Member]
Share Capital [Line Items]
Share option							10,000

Share Capital (Details) - Sched

Share Capital (Details) - Schedule of Option Transactions	12 Months Ended
	Mar. 31, 2024 $ / shares	Mar. 31, 2023 $ / shares
Schedule of Option Transactions [Abstract]
Number of options, at beginning of year	1,431,668	995,335
Weighted average exercise price per share, at beginning of year	$ 6.01	$ 7.28
Number of options, option granted		595,000
Weighted average exercise price per share, option granted		$ 3.95
Number of options, options cancelled/forfeited	(104,667)	(158,667)
Weighted average exercise price per share, options cancelled/forfeited	$ 5.83	$ 6.29
Number of options, at end of year	1,327,001	1,431,668
Weighted average exercise price per share, at end of year	$ 6.02	$ 6.01

Share Capital (Details) - Sch_2

Share Capital (Details) - Schedule of Information About Stock Options Outstanding	12 Months Ended
	Mar. 31, 2024 $ / shares
$3.93 [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	$ 3.93
Number of options outstanding	438,000
Weighted average remaining contractual life	3 years 25 days
Weighted average exercise price	$ 3.93
Number of options exercisable	219,000
Weighted average exercise price	$ 3.93
$4.08 [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	$ 4.08
Number of options outstanding	60,000
Weighted average remaining contractual life	3 years 10 months 24 days
Weighted average exercise price	$ 4.08
Number of options exercisable	20,000
Weighted average exercise price	$ 4.08
$5.46 [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	$ 5.46
Number of options outstanding	454,001
Weighted average remaining contractual life	1 year 1 month 24 days
Weighted average exercise price	$ 5.46
Number of options exercisable	454,001
Weighted average exercise price	$ 5.46
$9.45 [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	$ 9.45
Number of options outstanding	375,000
Weighted average remaining contractual life	1 year 7 months 13 days
Weighted average exercise price	$ 9.45
Number of options exercisable	375,000
Weighted average exercise price	$ 9.45
$3.93 to $9.45 [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Number of options outstanding	1,327,001
Weighted average remaining contractual life	2 years 14 days
Weighted average exercise price	$ 6.02
Number of options exercisable	1,068,001
Weighted average exercise price	$ 6.52
$3.93 to $9.45 [Member] | Bottom of Range [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	3.93
$3.93 to $9.45 [Member] | Top of Range [Member]
Schedule of Information About Stock Options Outstanding [Line Items]
Exercise price	$ 9.45

Share Capital (Details) - Sch_3

Share Capital (Details) - Schedule of RSUs	12 Months Ended
	Mar. 31, 2024 $ / shares	Mar. 31, 2023 $ / shares
Schedule of RSUs [Abstract]
Number of units, beginning balance	2,126,670	1,636,165
Weighted average grant date closing price per share, beginning balance	$ 5.29	$ 6.47
Number of units, granted	1,056,000	1,154,000
Weighted average grant date closing price per share, granted	$ 5.28	$ 3.96
Number of units, Forfeited	(113,665)	(159,792)
Weighted average grant date closing price per share, Forfeited	$ 5.04	$ 5.44
Number of units, distributed	(928,755)	(503,703)
Weighted average grant date closing price per share, distributed	$ 5.44	$ 6.04
Number of units, ending balance	2,140,250	2,126,670
Weighted average grant date closing price per share, ending balance	$ 5.23	$ 5.29

Share Capital (Details) - Sch_4

Share Capital (Details) - Schedule of Earnings Per Share Basic and Diluted - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Earnings Per Share Basic and Diluted [Abstract]
Net income attributable to equity holders of the Company (Income Numerator)	$ 36,306	$ 20,608
Basic earnings per share (Income Numerator)	$ 36,306	$ 20,608
Basic earnings per share (Shares Denominator)	176,997,360	176,862,877
Basic earnings per share (Per-Share Amount)	$ 0.21	$ 0.12
Effect of dilutive securities:
Stock options and RSUs, Shares (Denominator)	2,140,250	2,126,672
Diluted earnings per share (Income Numerator)	$ 36,306	$ 20,608
Diluted earnings per share (Shares Denominator)	179,137,610	178,989,549
Diluted earnings per share (Per-Share Amount)	$ 0.2	$ 0.12

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details)	12 Months Ended
	Mar. 31, 2024 USD ($)
Accumulated Other Comprehensive Loss [Abstract]
Currency translation adjustment net of tax

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Details) - Schedule of accumulated other comprehensive loss - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Accumulated other Comprehensive Loss [Abstract]
Change in fair value on equity investments designated as FVTOCI	$ 24,421	$ 24,355
Share of other comprehensive loss in associate	1,449	1,380
Currency translation adjustment	34,175	17,508
Balance, end of the year	$ 60,045	$ 43,243

Non-Controlling Interests (Deta

Non-Controlling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Non-Controlling Interests [Line Items]
Paid dividends (in Dollars)	$ 7.9	$ 7.7
Percentage of Equity interest	19.90%
Henan Found [Member]
Non-Controlling Interests [Line Items]
Percentage of non-controlling interests	22.50%	22.50%
Percentage of Equity interest	12.25%
Henan Huawei [Member]
Non-Controlling Interests [Line Items]
Percentage of non-controlling interests	20%	20%
Yunxiang [Member]
Non-Controlling Interests [Line Items]
Percentage of non-controlling interests	30%	30%
Guangdong Found [Member]
Non-Controlling Interests [Line Items]
Percentage of non-controlling interests	1%	1%
New Infini [Member]
Non-Controlling Interests [Line Items]
Percentage of non-controlling interests	53.90%	53.90%
Henan Non-ferrous Geology Minerals Ltd. [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	17.50%
Henan First Geological Brigade Ltd. [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	12.25%
Henan Found and First Geological Brigade [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	5.25%
Henan Xinxiangrong Mining Ltd. [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	5%
Dividends declared (in Dollars)	$ 2.2
Henan Xinxiangrong [Member]
Non-Controlling Interests [Line Items]
Dividends declared (in Dollars)		2.2
Henan Xinhui Mining Co. Ltd. [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	20%
Dividends declared (in Dollars)	$ 0.9	$ 0.9
GRT Mining Investment Co. Ltd. [Member]
Non-Controlling Interests [Line Items]
Dividends declared (in Dollars)	$ 50
Beijing [Member]
Non-Controlling Interests [Line Items]
Percentage of Equity interest	1%

Non-Controlling Interests (De_2

Non-Controlling Interests (Details) - Schedule of Non-controlling Interests - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	$ 90,778	$ 107,718
Share of net income (loss)	13,372	492
Share of other comprehensive loss	(3,308)	(6,552)
Distributions	(11,088)	(10,880)
Balance, ending	89,754	90,778
Henan Found [Member]
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	85,282	89,669
Share of net income (loss)	12,846	11,584
Share of other comprehensive loss	(3,063)	(6,037)
Distributions	(10,088)	(9,934)
Balance, ending	84,977	85,282
Henan Huawei [Member]
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	3,510	4,928
Share of net income (loss)	673	(121)
Share of other comprehensive loss	(55)	(351)
Distributions	(950)	(946)
Balance, ending	3,178	3,510
Yunxiang [Member]
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	2,640	2,915
Share of net income (loss)	(151)	(157)
Share of other comprehensive loss	(96)	(118)
Distributions
Balance, ending	2,393	2,640
Guangdong Found [Member]
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	(149)	(181)
Share of net income (loss)	33	78
Share of other comprehensive loss	(94)	(46)
Distributions	(50)
Balance, ending	(260)	(149)
New Infini [Member]
Non-Controlling Interests (Details) - Schedule of Non-controlling Interests [Line Items]
Balance, beginning	(505)	10,387
Share of net income (loss)	(29)	(10,892)
Share of other comprehensive loss
Distributions
Balance, ending	$ (534)	$ (505)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Unsecured Credit Facility [Member]
Related Party Transactions (Details) [Line Items]
Advance to related party	$ 1
NUAG [Member]
Related Party Transactions (Details) [Line Items]
Cost for services rendered and expenses incurred		$ 1	$ 1
Advance to related party	0.5
TIN [Member]
Related Party Transactions (Details) [Line Items]
Cost for services rendered and expenses incurred		$ 0.3	$ 0.2
Advance to related party	$ 0.5
Shares received (in Shares)	350,000
TIN [Member] | Unsecured Credit Facility [Member]
Related Party Transactions (Details) [Line Items]
Advance to related party	$ 0.5

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Due from Related Parties - USD ($) $ in Thousands		Mar. 31, 2024	Mar. 31, 2023
Schedule of Due from Related Parties [Line Items]
Due from related party		$ 590	$ 88
NUAG [Member]
Schedule of Due from Related Parties [Line Items]
Due from related party	[1]	28	51
TIN [Member]
Schedule of Due from Related Parties [Line Items]
Due from related party	[2]	$ 562	$ 37
[1] i. 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, 2024, the Company recovered $1.0 million (year ended March 31, 2023 - $1.0 million) 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.

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Compensation of Key Management Personnel - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Compensation of Key Management Personnel [Abstract]
Cash compensation	$ 3,403	$ 3,057
Share-based compensation	2,487	3,764
Total compensation of key management personnel	$ 5,890	$ 6,821

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financial Instruments [Abstract]
Equity investments
Variable interest rate, term	1 year
Trade or other receivables
Increase decrease market price percentage	10%
Increase (decrease) to the net income (loss)	$ 4.2
Other comprehensive income (loss)	$ 0.1

Financial Instruments (Detail_2

Financial Instruments (Details) - Schedule of Lowest Level of Input - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Financial assets
Cash and cash equivalents	$ 152,942	$ 145,692	$ 113,302
Short-term investments - money market instruments	30,620	53,829
Investments in public companies	43,035	12,314
Investments in private companies	3,219	3,226
Level 1 [Member]
Financial assets
Cash and cash equivalents	152,942	145,692
Short-term investments - money market instruments	30,620	53,829
Investments in public companies	41,818	12,314
Investments in private companies
Level 2 [Member]
Financial assets
Cash and cash equivalents
Short-term investments - money market instruments
Investments in public companies
Investments in private companies
Level 3 [Member]
Financial assets
Cash and cash equivalents
Short-term investments - money market instruments
Investments in public companies	1,217
Investments in private companies	$ 3,219	$ 3,226

Financial Instruments (Detail_3

Financial Instruments (Details) - Schedule of Remaining Contractual Maturities of Financial Liabilities - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Financial Instruments (Details) - Schedule of Remaining Contractual Maturities of Financial Liabilities [Line Items]
Accounts payable and accrued liabilities	$ 41,797	$ 36,737
Lease obligation	1,717
Deposits received	4,223
Total Contractual Obligation	47,737
Within a year [Member]
Financial Instruments (Details) - Schedule of Remaining Contractual Maturities of Financial Liabilities [Line Items]
Accounts payable and accrued liabilities	41,797
Lease obligation	284
Deposits received	4,223
Total Contractual Obligation	46,304
2-5 years [Member]
Financial Instruments (Details) - Schedule of Remaining Contractual Maturities of Financial Liabilities [Line Items]
Accounts payable and accrued liabilities
Lease obligation	1,095
Deposits received
Total Contractual Obligation	1,095
Over 5 years [Member]
Financial Instruments (Details) - Schedule of Remaining Contractual Maturities of Financial Liabilities [Line Items]
Accounts payable and accrued liabilities
Lease obligation	338
Deposits received
Total Contractual Obligation	$ 338

Financial Instruments (Detail_4

Financial Instruments (Details) - Schedule of Net Income Due to the Exchange Rates $ in Thousands	Mar. 31, 2024 USD ($)
Financial Instruments (Details) - Schedule of Net Income Due to the Exchange Rates [Line Items]
Cash and cash equivelents	$ 87,938
Short-term investments	1,329
Other investments	33,559
Accounts payable and accrued liabilities	(906)
Net financial assets explosure	121,920
Effect of +/- 10% change in currency	12,192
US dollar [Member]
Financial Instruments (Details) - Schedule of Net Income Due to the Exchange Rates [Line Items]
Cash and cash equivelents	87,557
Short-term investments	1,329
Other investments	2,594
Accounts payable and accrued liabilities	(169)
Net financial assets explosure	91,311
Effect of +/- 10% change in currency	9,131
Australian dollar [Member]
Financial Instruments (Details) - Schedule of Net Income Due to the Exchange Rates [Line Items]
Cash and cash equivelents	381
Short-term investments
Other investments	30,965
Accounts payable and accrued liabilities	(737)
Net financial assets explosure	30,609
Effect of +/- 10% change in currency	$ 3,061

Supplementary Cash Flow Infor_3

Supplementary Cash Flow Information (Details) - Schedule of Changes in Non-Cash Operating Working Capital - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Changes in Non-Cash Operating Working Capital [Abstract]
Trade and other receivables	$ (479)	$ 936
Inventories	610	79
Prepaids and deposits	(2,411)	(50)
Accounts payable and accrued liabilities	6,549	(2,009)
Deposits received	398	(938)
Due from a related party	(582)	(28)
Non-cash operating working capital	$ 4,085	$ (2,010)

Supplementary Cash Flow Infor_4

Supplementary Cash Flow Information (Details) - Schedule of Non-Cash Capital Transactions - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Non-Cash Capital Transactions [Abstract]
Environmental rehablitation expenditure paid from reclamation deposit		$ 379
Additions of plant and equipment included in accounts payable and accrued liabilities	1,393	2,276
Capital expenditures of mineral rights and properties included in accounts payable and accrued liabilities	(922)	590
Cash on hand and at bank	112,355	50,871
Bank term deposits and short-term money market investments	40,587	94,821
Total cash and cash equivalents	$ 152,942	$ 145,692

Subsequent Event (Details)

Subsequent Event (Details)				12 Months Ended
	May 01, 2024 CAD ($) $ / shares shares	Apr. 26, 2024 $ / shares	Apr. 25, 2024	Mar. 31, 2024 CAD ($) $ / shares
Subsequent Event (Details) [Line Items]
Adventus share price (in Dollars per share) | $ / shares		$ 0.1015
Consideration price per share (in Dollars per share) | $ / shares				$ 0.5
Implied equity value (in Dollars) | $				$ 200,000,000
Aggregate percentage				23%
Shareholders votes, description				66 2/3%
Termination fee (in Dollars) | $				$ 10,000,000
Top of Range [Member]
Subsequent Event (Details) [Line Items]
Own approximately percentage				81.60%
Bottom of Range [Member]
Subsequent Event (Details) [Line Items]
Own approximately percentage				18.40%
Non-adjusting event after reporting period [Member]
Subsequent Event (Details) [Line Items]
Consideration price per share (in Dollars per share) | $ / shares	$ 0.38
Premium percentage			31%
Shareholders fixed shares (in Shares) | shares	67,441,217
Aggregate amount (in Dollars) | $	$ 25,627,662
Total issued and outstanding shares of Adventus	15%