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Lt. Gen. Ronald Hite Joins Dacha Board
Tuesday 09/14/2010 7:31 AM ET - Marketwire
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Symbol Last %Chg
DCHAF 0.359 0.00%
As of 11:02 AM ET 9/14/10
Dacha Capital Inc. ("Dacha" or the "Company") (TSX VENTURE: DAC)(OTCQX: DCHAF) is pleased to announce that following the Company's annual and special meeting of shareholders held on September 13th, 2010, Lieutenant General (Retired) Ronald V. Hite has joined the Company as a director.
Lieutenant General Hite retired July 1, 1997 from the United States Army after 33 years of service. During his military career, General Hite held several senior military leadership positions and is a Vietnam War veteran. His last active duty assignment was as Military Deputy to the Assistant Secretary of the Army for Research, Development, and Acquisition, the Senior Military Advisor to the Army Acquisition Executive and the Army Chief of Staff on all research, development, and acquisition programs and related issues. He testified as a principal military witness for Research, Development, and Acquisition appropriations with Congress, supervised the Army's Program Executive Officer System, and also served as the Director, Army Acquisition Corps. Upon retirement from active duty, General Hite joined Cypress International, in Alexandria, Virginia, and retired as the Chairman and CEO in January 2005.
He holds a BA in Chemistry and a MS in Management Science, and is a graduate of several senior-level military schools. General Hite currently serves on various boards and advisory boards and is President of the East Tennessee State University Alumni Association.
Shareholders also approved the Company's change of name to Dacha Strategic Metals Inc. The name change remains subject to TSX Venture Exchange approval before the Company will commence trading under its new name and ticker symbol.
In addition, the Company reports its estimated net asset value at August 31, 2010 was $30.5 million, or $0.42 per share, based on 72,159,214 million shares outstanding. The NAV is calculated on the Market Value of our physical inventory plus other historical assets and working capital. As at August 31, 2010, Dacha's physical inventory portfolio consisted as follows:
Metal inventory
(in millions of Cdn
dollars - unaudited) Quantity (Kgs) Cost Market Value
----------------------------------------------------
Held outside China
Dysprosium Oxide 5,000 $ 1.0 $ 1.5
Dysprosium Fe 30,000 5.9 8.8
Gadolinium Oxide 20,000 0.4 0.7
Lutetium Oxide 3,000 0.9 1.1
Terbium Oxide 13,000 6.7 8.5
Yttrium Oxide 20,000 0.2 0.7
Held within China
Europium Oxide 6,000 2.6 2.7
Yttrium Oxide 120,000 1.0 0.9
$ 18.7 $ 24.9
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