UpdateDacha Strategic Metals Inc.
TSX VENTURE:
DSM
OTCQX: DCHAF
Nov 29, 2010 11:32 ET
Dacha Continues to Demonstrate Its Unique Rare Earth Business Model
Trades 70,000 Kilograms of Heavy Rare Earth Elements
TORONTO, ONTARIO--(Marketwire - Nov. 29, 2010) - Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX VENTURE:DSM)(OTCQX:DCHAF) is pleased to report the trade of 70,000 kilograms (70 metric tonnes) of Heavy Rare Earth Elements. Dacha is an investment company focused on the acquisition, storage and trading of strategic metals with a primary focus on Heavy Rare Earth Elements.The Company has a strategic stockpile in a LME-approved metals facilityin Pusan, Korea. In this transaction, the Company has acquired thirtythousand kilograms (30 metric tonnes) of Heavy Rare Earth Oxides including quotas for immediate export to its warehouse in Pusan, Korea and has sold 40,000 kilograms (40 metric tonnes) of Heavy Rare Earth Elements from its Korean warehouse. Specifically, Dacha has acquired 10,000 kilograms (10 metric tonnes) of optical grade 4N5+ Gadolinium Oxide (Gd2O3) and 10,000 Kilograms (10 metric tonnes) of high purity 4N+ Dysprosium Oxide ( Dy2O3). Dacha has also acquired its first position in Neodymium, having acquired 10,000 kilograms (10 metric Tonnes) of high purity 4N+ Neodymium Oxide (Nd2O3). The acquisition has a combined value of approximately US$5.1 million
Dacha is also pleased to report the trade of 40,000 kilograms (40 metric tonnes) of Heavy Rare Earth Elements to multiple customers including 30,000 kilograms ( 30 metric Tonnes) of Dysprosium Iron Metal (DyFe) and 10,000 Kilograms ( 10 metric tonnes) of Yttrium Oxide (Y2O3). The sale has a combined value of approximately US$9.71 million.
Scott Moore, President and Chief Executive Officer of the Company, stated; "Dacha continues to demonstrate its ability to source and export Rare Earth Elements from China despite quota cutbacks in 2010. Dacha alsocontinues to add customers for its inventory confirming the quality andmarketability of its stockpile and the validity of its business model."
About Dacha
DachaStrategic Metals Inc. is an investment company focused on theacquisition, storage and trading of strategic metals with a primaryfocus on Rare Earth Elements. Dacha has the unique position of holdinga publicly available stockpile of Physical Rare Earth oxides . TheCompany's primary investment objective is to invest substantially allof its assets in Physical Strategic Metals to provide investors withaccess to this asset class without the mining risks associated withsingle asset exploration and development companies. Its shares arelisted on the TSX Venture Exchange under the symbol "DSM" and on theOTCQX exchange under the symbol "DCHAF".