Income Tax (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| 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 | | 2026 | | 2025 | Current | | $ | 46,844 | | $ | 17,713 | Deferred | | | 649 | | | 8,475 | | | $ | 47,493 | | $ | 26,188 |
|
| 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, | | | | 2026 | | 2025 | | Reported income before income taxes | | $ | 80,421 | | $ | 104,957 | | Canadian statutory income tax rate | | | 27 | % | | 27 | % | Income tax expense computed at Canadian statutory income tax rate | | | 21,714 | | | 28,338 | | Impact from differences between foreign tax rates and Canadian statutory tax rate | | | (31,702) | | | (6,697) | | Impact from permanent items | | | (52) | | | (319) | | Withholding taxes | | | 8,410 | | | 2,419 | | Change in unrecognized deferred tax assets | | | 49,123 | | | 2,447 | | Income tax expenses | | $ | 47,493 | | | 26,188 | |
|
| Schedule of Deferred Income Tax Assets (Liabilities) |
The continuity of deferred income tax liabilities is summarized as follows: | | | | | | | | | Years ended March 31, | | | 2026 | | 2025 | Deferred income tax liabilities, beginning of the year | | $ | (59,338) | | $ | (51,108) | Deferred income tax expense recognized | | | (649) | | | (8,475) | Foreign exchange impact | | | (3,061) | | | 245 | Deferred income tax liabilities, end of the year | | $ | (63,048) | | $ | (59,338) |
|
| Schedule of Deferred Income Tax |
The significant components of the Company’s deferred income tax are as follows: | | | | | | | As at | | March 31, 2026 | | March 31, 2025 | Deferred income tax assets | | | | | | | Plant and equipment | | $ | 17,054 | | $ | 15,154 | Non-capital loss carry forwards | | | — | | | 133 | Environmental rehabilitation | | | 2,625 | | | 2,410 | Unrealized loss on investments | | | 544 | | | 517 | Other deductible temporary difference | | | 950 | | | 63 | Total deferred income tax assets | | | 21,173 | | | 18,277 | | | | | | | | Deferred income tax liabilities | | | | | | | Plant and equipment | | | — | | | — | Mineral rights and properties | | | (83,838) | | | (75,188) | Unrealized gain on investments | | | — | | | — | Other taxable temporary difference | | | (383) | | | (2,427) | Total deferred income tax liabilities | | | (84,221) | | | (77,615) | | | | | | | | Net deferred income tax liabilities | | $ | (63,048) | | $ | (59,338) |
|
| Schedule of Temporary Differences and Unused Tax Losses |
| | | | | | | As at | | March 31, 2026 | | March 31, 2025 | Non-capital loss carry forward | | $ | 53,963 | | $ | 50,891 | Plant and equipment | | | 2,161 | | | 4,790 | Mineral rights and properties | | | (3,857) | | | 892 | Other deductible temporary difference | | | (3,847) | | | 17,523 | | | $ | 48,420 | | $ | 74,096 |
|
| Schedule of Net Operating Losses Expiring in Various Years |
As at March 31, 2026, the Company has the following net operating losses, expiring in various years and available to offset future taxable income in Canada, Ecuador and China, respectively. | | | | | | | | | | | | | | | | Year expired | | Canada | | China | | Ecuador | | Other | | Total | 2025 | | | — | | | — | | | 1,329 | | | — | | | 1,329 | 2026 | | | — | | | 1,243 | | | 2,119 | | | — | | | 3,362 | 2027 | | | — | | | 1,202 | | | 1,778 | | | — | | | 2,980 | 2028 | | | 1,054 | | | 1,908 | | | 46,704 | | | — | | | 49,666 | 2029 | | | 1,053 | | | 2,258 | | | 8,879 | | | — | | | 12,190 | 2030 | | | 6,113 | | | — | | | — | | | — | | | 6,113 | 2031 | | | 8,868 | | | — | | | — | | | 206 | | | 9,074 | 2032 | | | 9,127 | | | — | | | — | | | 26 | | | 9,153 | 2033 | | | 7,173 | | | — | | | — | | | 39 | | | 7,212 | 2034 and after | | | 103,487 | | | — | | | — | | | 740 | | | 104,227 | Total | | $ | 136,875 | | $ | 6,611 | | $ | 60,809 | | $ | 1,011 | | $ | 205,306 |
|