Dacha Strategic Metals Inc. (TSX-V: DSM) is pleased to announce that it has sold 2,900 kilograms of Lutetium Oxide from its inventory held in Jurong, Singapore at a price ofUS$1,750 per kg for gross proceeds of US$5,075,000. Based on the original purchase price of US$309.60 per kg, the Company realized a pre-tax gain of $4.1 million. As at March 31 2012, Dacha held Lutetium at a mark-to-market price of $1,600 per kg.
This transaction marks the 13th consecutive sale of inventory by Dacha above its mark to market carrying value of its inventory.
Scott Moore, President and CEO commented, “Dacha has continually provided investors with a transparent valuation of its inventory based on the published pricing available in Metal Pages and Asian Metals. In addition Dacha has a consistent track record of selling inventory above the carrying value of the inventory at the time. This transaction should further reinforce to shareholders that our inventory has realizable value at or above its published value and that the current discount attributed to our share price is not reflective of the true value of the NAV”.
As at March 31, 2012 Dacha’s inventory was valued at $84.8 million or Net Assets of $1.16 per share.