TORONTO,
Jan. 23, 2014 /CNW/ - Dacha Strategic
Metals Inc. (TSX-V: DSM) ("Dacha") today announced that its
wholly-owned subsidiary, Dacha Strategic Metals Ltd. ("Dacha
Barbados"), has completed the sale of its remaining 6,500 Kgs of
terbium oxide for gross proceeds of approximately U.S. $2.6 million. Market conditions at the time
of this sale were such that these metals were sold for less than
their original cost and less than their estimated fair market value
as at September 30, 2013 as reflected
in Dacha's financial statements for the three and six months ended
September 30, 2013.
Following completion of this sale, Dacha
Barbados holds 10,000 Kgs of Dysprosium Fe, 9,950 Kgs of
Gadolinium Oxide and 14,000 Kgs of Yttrium Oxide. Dacha continues
to evaluate Dacha Barbados' inventory positions, and Dacha Barbados
may make future purchases or sales of rare earth metals depending
upon market conditions and other relevant facts.
Dacha is an investment company whose objective
is to enhance shareholder value over the long term. Dacha
seeks to accomplish this objective by making and holding those
investments that Dacha's board believes from time to time are most
likely to enhance shareholder value over the long term.
About Dacha
Dacha is an investment company whose objective
is to enhance shareholder value over the long term. Its
shares are listed on the TSX Venture Exchange under the symbol
"DSM".
Except for statements of historical fact
relating to Dacha, 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 Dacha's investment policy
and intentions, Dacha's ability to source and make attractive
investments, Dacha's ability to trade in rare earth elements, the
realization value of Dacha's physical inventory portfolio, 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.
Certain information on parties other than Dacha
contained in this press release has been obtained or quoted from
publicly available sources, independent publications, media
articles or third party websites (collectively, the
"Publications"). In certain cases, these sources make no
representations as to the reliability of the information they
publish. Further, the analyses and opinions reflected in these
Publications are subject to a series of assumptions about future
events. There are a number of factors that can cause the results to
differ materially from those described in these publications. None
of Dacha or its representatives independently verified the accuracy
or completeness of the information contained in the Publications or
assume any responsibility for the completeness or accuracy of the
information derived from these Publications.
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.
SOURCE Dacha Strategic Metals Inc.