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
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$1.35 per
share on a fully diluted basis of 97.4 million shares
outstanding.
As at October 31, 2011, Dacha's physical inventory portfolio
consisted as follows:
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Metals Inventory Grades(i) Quantity Spot Price/kg Market Value
10/31/2011 (Kg) (US$) (US$millions)
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Busan, South Korea
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Dysprosium Oxide 3N+ 15,000 $2,205 $33.1
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Dysprosium Fe Santoku 12,000 $2,450 $29.4
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Gadolinium Oxide 4N5+ 9,950 $270 $2.7
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Lutetium Oxide 4N+ 2,900 $1,250 $3.6
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Neodymium Oxide 4N+ 18,000 $265 $4.8
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Terbium Oxide 4N+ 14,000 $3,018 $42.3
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Yttrium Oxide 5N 14,000 $155 $2.2
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Total: 85,850 $118.0
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(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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE
Contacts: Dacha Strategic Metals Inc. Scott Moore President and
CEO (416) 861-5903smoore@dachametals.comwww.dachametals.com Dacha
Strategic Metals Inc. Darcie Ladd Manager of Marketing &
Communications (416)
861-5938dladd@dachametals.comwww.dachametals.com
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