This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dacha Strategic Metals Inc. Update

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs