v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 32,922 $ 78,769
Add (deduct) items not affecting cash:    
Finance costs 13,551 6,713
Income tax expense 47,493 26,188
Depreciation, amortization and depletion 36,888 32,828
Gain on investments, net (33,676) (12,451)
Loss on derivative liabilities 178,544 9,011
Share of loss in associates 532 2,806
Dilution loss on investment in associate 285  
Loss on disposal of plant and equipment 226 163
Share-based compensation 4,125 3,692
Reclamation expenditures (1,131) (819)
Income taxes paid (34,408) (15,731)
Long-term deposit received 43,875  
Interest paid (82) (126)
Changes in non-cash operating working capital 21,424 7,588
Net cash provided by operating activities 310,568 138,631
Investing activities    
Payment on plant and equipment acquisition (12,857) (19,986)
Proceeds from disposal of plant and equipment 14 46
Payment on mineral rights and properties acquisition   (6,224)
Proceeds from disposal of mineral rights and properties 12  
Payment on mineral exploration and development expenditures (116,396) (59,817)
Acquisition of Chaarat ZAAV CJSC (91,696)  
Payment on reclamation deposits (711) (83)
Refunds from reclamation deposits 634 209
Payment on other investments acquisition (2,040) (20,953)
Proceeds from disposal of other investments 740 36,289
Payment on acquisition of shares in associates (9,382) (4)
Loan advanced to a third party (2,500)  
Payment on short-term investment acquisition (141) (108,320)
Proceeds on short-term investment redemption 4,983 134,176
Net cash used in investing activities (229,340) (44,667)
Financing activities    
Net proceeds from issuance of convertible notes   143,324
Interest paid on convertible notes (7,521)  
Repayment of long-term deposits   (13,250)
Lease payment (258) (271)
Cash dividends distributed (5,482) (4,948)
Non-controlling interests distribution (24,888) (11,049)
Related parties loan made   (500)
Proceeds from issuance of common shares 6,287 2,774
Common shares repurchased as part of normal course issuer bid   (963)
Net cash (used in) provided by financing activities (31,862) 115,117
Effect of exchange rate changes on cash and cash equivalents 8,645 1,955
Increase in cash and cash equivalents 58,011 211,036
Cash and cash equivalents, beginning of the year 363,978 152,942
Cash and cash equivalents, end of the year $ 421,989 $ 363,978