TORONTO, ONTARIO--(Marketwire - Feb. 15, 2011) - Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX VENTURE:DSM)(OTCQX:DCHAF) announced today that its estimated net asset value ("NAV") at January 31, 2011 was CDN$0.51 per share based on 73.1 million shares outstanding. NAV is calculated on the market value of the Company's physical inventory plus other historical assets and working capital. As at January 31, 2011, Dacha's physical inventory portfolio consisted of the following:
|Held outside China|
|Held within China|
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) (collectively, the "Market Websites"). In cases where the Market 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.
NAV per share is a non-GAAP financial measure and is calculated by dividing the Company's net assets by the number of shares outstanding as of the date of the calculation of the NAV. The Company believes that this measure, together with measures determined in accordance with GAAP, provide investors with an improved ability to evaluate the performance of the Company as an investment vehicle. The inclusion of this measure is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with GAAP. This measure is not necessarily standard and therefore may not be comparable to that used by other issuers. NAV per share does not have a standardized meaning under GAAP.
The Company is not an investment fund and accordingly, NAV published by the Company is not "net asset value" as determined in accordance with National Instrument 81-106 Investment Fund Continuous Disclosure.
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 ability to attract financing, proposed investment strategy of the Company, general investment trends, and receipt of all regulatory approvals. 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.
Contact Information: Dacha Strategic Metals Inc.
President and CEO
Dacha Strategic Metals Inc.