DSM makes purchase of heaviesDacha Strategic Metals Inc.
TSX VENTURE:
DSM
OTCQX: DCHAF
Dec 29, 2010 07:30 ET
Dacha Acquires 12,000 Kilograms of Heavy Rare Earth Elements
TORONTO, ONTARIO--(Marketwire - Dec. 29, 2010) -Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX VENTURE:DSM)(OTCQX:DCHAF) is pleased to report the acquisition of 12,000 kilograms (12 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. TheCompany has established a strategic stockpile of Rare Earth Elements ina LME-approved metals facility in Pusan, Korea. In this transaction theCompany has acquired twelve thousand kilograms (12 metric tonnes) of Dysprosium Iron Metal (DyFe) quotas for immediate export to its warehouse in Pusan, Korea.
The purchase price for the acquisition was approximately US$3.5 million.
About Dacha
Dachais an investment company focused on the acquisition, storage andtrading of strategic metals with a primary focus on Rare EarthElements. Dacha has the unique position of holding a publicly availablestockpile of Physical Rare Earth oxides and its primary investmentobjective is to invest substantially all of its assets in PhysicalStrategic Metals to provide investors with access to this asset classwithout the mining risks associated with single asset exploration anddevelopment companies. Its shares are listed on the TSX VentureExchange under the symbol "DSM" and on the OTCQX exchange under thesymbol "DCHAF".