Dacha Reports Assets of US$1.59 Per Share With Inventory Valued at US$118.0 Million as of October 31, 2011
November 03 2011 - 6:41PM
Marketwired Canada
Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX
VENTURE:DSM)(OTCQX:DCHAF) is pleased to announce the estimated market value of
its Rare Earth metals inventory. As of October 31, 2011, the estimated value of
its metals inventory was US$118.0 million, a decrease of US$3.0 million, or
2.4%, from the estimated value of US$121.0 million at September 30, 2011, as
reported in the Company's October 3, 2011 press release.
Assets include metal inventory and cash. At October 31, 2011, in addition to its
metal inventory, which had an estimated fair market value of US$118.0 million,
the Company's had cash of approximately US$4.4 million for a total of US$122.4
million, or US$1.59 per share, based on 77.0 million shares outstanding, or,
US$1.35 per share on a fully diluted basis of 97.4 million shares outstanding.
As at October 31, 2011, Dacha's physical inventory portfolio consisted as follows:
----------------------------------------------------------------------------
Metals Inventory Grades(i) Quantity Spot Price/kg Market Value
10/31/2011 (Kg) (US$) (US$millions)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Busan, South Korea
----------------------------------------------------------------------------
Dysprosium Oxide 3N+ 15,000 $2,205 $33.1
----------------------------------------------------------------------------
Dysprosium Fe Santoku 12,000 $2,450 $29.4
----------------------------------------------------------------------------
Gadolinium Oxide 4N5+ 9,950 $270 $2.7
----------------------------------------------------------------------------
Lutetium Oxide 4N+ 2,900 $1,250 $3.6
----------------------------------------------------------------------------
Neodymium Oxide 4N+ 18,000 $265 $4.8
----------------------------------------------------------------------------
Terbium Oxide 4N+ 14,000 $3,018 $42.3
----------------------------------------------------------------------------
Yttrium Oxide 5N 14,000 $155 $2.2
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total: 85,850 $118.0
----------------------------------------------------------------------------
-------------------------
(i)Grades:
4N = 99.99%
4N+ = 99.99+%
5N = 99.999%
4N5+ = 99.99%/99.999+%
-------------------------
Dacha's inventory, including market value is updated weekly every Monday morning
and posted to the "Inventory" tab of its website at www.dachametals.com. Dacha
encourages its shareholders and all other interested parties to visit its
website regularly and to monitor the ongoing appreciation of its physical
inventory of Rare Earth Elements.
Update on Normal Course Issuer Bid:
During the month, the Company has purchased and cancelled 1,300,000 shares of
Dacha at an average price of $0.61. As at October 31, 2011, the Company had
purchased and cancelled a total of 4,750,000 shares of Dacha at an average price
of $0.83 as part of its on-going Normal Course Issuer Bid. The Company has
bought back approximately 70% of the shares allowed under the current NCIB and
expects to continue to purchase shares over the remainder of the fiscal year,
depending on market conditions and other investment opportunities that may be
available.
About Dacha
Dacha Strategic Metals Inc is an investment company focused on the acquisition,
storage and trading of strategic metals with a primary focus on Rare Earth
Elements. Dacha is in the unique position of holding a commercial stockpile of
Physical Rare Earth Elements. Its shares are listed on the TSX Venture Exchange
under the symbol "DSM" and on the OTCQX exchange under the symbol "DCHAF".
Except for statements of historical fact relating to the Company, certain
information contained herein constitutes "forward-looking information" under
Canadian securities legislation. Forward-looking information includes, but is
not limited to, statements with respect to the Company's ability to trade in
rare earth elements, the realization value of Dacha's physical inventory
portfolio, proposed investment strategy of the Company, and general investment
and market trends. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made. Forward-looking information is subject
to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Dacha to be
materially different from those expressed or implied by such forward-looking
information. Although management of Dacha has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. Dacha does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
The market value of the Company's physical inventory is estimated using price
quotes published by two of the largest independent news sources for the metals
industry, namely, Asian Metal (www.asianmetal.com) and Metal-Pages
(www.metal-pages.com). In cases where these websites do not provide a price
quote on the type or quality of metal held in the Company's physical inventory,
the Company relies on a price quote provided by independent third-party industry
participants.
Deep South Resources (TSXV:DSM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Deep South Resources (TSXV:DSM)
Historical Stock Chart
From Jul 2023 to Jul 2024
