Dacha Q2 Financial Statements and Update

About this update from Koryx Copper S.a.

[{"type":"text","content":"\n\n\nTORONTO, Nov. 27, 2013 /CNW/ - Dacha Strategic Metals Inc. (TSXV: DSM)\n (\"Dacha\") today released its unaudited financial results for the three\n and six months ended September 30, 2013.  For more information, please\n see Dacha's condensed interim consolidated financial statements and\n management's discussion and analysis filed under Dacha's profile on\n SEDAR at www.sedar.com.  All dollar references below are to U.S. funds.\n\n\nDuring the three months ended September 30, 2013, Dacha reported net\n income of $1.1 million (or $0.01 per basic share), compared to a net\n loss of $12.2 million (or $0.16 per basic share) during the three\n months ended September 30, 2012.  The net income during the three\n months ended September 30, 2013 was largely as a result of changes in\n the estimated fair market value as of September 30, 2013 of certain of\n Dacha's metals inventories.\n\n\nAs at September 30, 2013, Dacha held 42,450 kilograms of rare earth\n metals with an estimated fair market value, based upon pricing reported\n by two independent news sources for the strategic metals industry, of\n $14.2 million.  The true realizable value of the rare earth metals held\n by Dacha may significantly differ from the prices reflected on these\n market websites.  Further, due to the illiquidity of rare earth metals\n markets and the significant volatility of prices at which Dacha's\n metals investments may be sold, there may be significant differences\n between the prices that may actually be realized in a sale of Dacha's\n metals and estimated values as reflected in Dacha's financial\n statements.\n\n\nAs at September 30, 2013, Dacha had net assets of $18.5 million (or\n $0.25 per basic share), principally comprising its metals inventories\n with an estimated fair market value of $14.2 million, cash of $4.4\n million, accounts receivable of $606,324, prepaid expenses and deposits\n of $69,604, accounts payable and accrued liabilities of $430,545,\n income taxes payable of $122,375 and deferred income taxes of $133,771.\n\n\nSubsequent to September 30, 2013, Dacha sold a portion of its inventory\n of Terbium Oxide.  These metals were sold for approximately $250,000\n more than their original cost, although market conditions at the time\n of this sale were such that the metals were sold for less than...

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