Dacha Capital acquires 8 metric tonnes of Rare Earth Oxides for investment fund
Dacha Capital Inc (TSX-V: DAC, OTC: DCHAF) has acquired an additional 8 metric tonnes of Rare Earth Oxides from a Chinese supplier in a deal worth approximately US$2.5million. The physical commodity investor bought 3 metric tonnes of Terbium Oxide (Tb4O7) and 5 metric tonnes of Dysprosium Oxide (Dy2O3) as part of its strategy to create a Rare Earth Elements (REE) stockpile outside China.
"We continue to see opportunity to purchase heavy rare earth oxides in China", Dacha President and CEO Scott Moore commented.
The investment company is currently focused on the purchase, storage and trading of strategic metals. The company currently uses two London Metal Exchange (LME) approved warehouses to house the stockpile, one in the South Korean port of Busan and one in Singapore.
According to Dacha, it provides a unique investment vehicle to gain exposure to Rare Earth and strategic minerals without the associated mining risk. "By creating the world's first and only corporate stockpile of these minerals, Dacha offers investors and industrial consumers the ability to participate in the physical ownership of these critical elements."
Currently, the specialist investment group is focused on 13 of the group of 17 elements (the 15 REE's plus associated Scandium and Yttrium elements). Dacha's investment targets consist of Neodymium, Gadolinium, Europium, Terbium, Dysprosium, Yttrium, Lutetium, Indium, Gallium, Selenium, Tellurium, Rhenium and Hafnium.
In March this year, Dacha raised C$22 million through an equity-based financing. The proceeds are being used to acquire and export Rare Earth Elements (REE) from China.
Last month, Dacha made strides in its stockpiling efforts. Initially, on 6 May, Dacha successfully exported its first Rare Earth shipment from the People's Republic of China. Fourteen metric tonnes of Dysprosium were shipped, by international specialist freight company Pacorini-Toll, to the company's primary warehouse in Busan.
Later, on 13 May, for an aggregate price of US$5.8m, Dacha bought 16 metric tonnes of Dysprosium, 20 metric tonnes of Yttrium Oxide and three tonnes of Terbium Oxide.
On 27 May, for approximately US$7.7m, Dacha acquired 20 metric tonnes Gadolinium Oxide (Gd2O3), 120 metric tonnes of Yttrium Oxide (Y2O3), 3 metric tonnes of Lutetium Oxide (Lu2O3), 6 metric tonnes of Europium Oxide (Eu2O3) and 6 metric tonnes of Terbium Oxide (Tb4O7).
Related news
- Regency Mines shares up on more positive Mambare results
- Escher Group wins largest contract to date; shares surge
- Chariot Oil & Gas completes 3D seismic survey in Namibia
- Peninsula Energy chairman talks to Proactive Investors in Stocktube Video
- Empire Energy Group hits oil production milestone in Appalachia
- Aminex and Solo Oil to carry out further analysis on Ntorya-1 well
- Angel Biotechnology shares surge as it reveals new contracts worth total of £4.5mln
