Dacha Strategic Metals Reports at Net Loss of $22.6 Million

Dacha Strategic Metals Inc. (TSXV:DSM) announced financial results for Q3 2013.

As quoted in the press release:

During the three months ended December 31, 2012, Dacha reported a net loss of $22.6 million (or $0.30 per basic share), compared to a net loss of $13.3 million (or $0.17 per basic share) during the three months ended December 31, 2011. The net loss during Q3 2013 was largely as a result of declines over the period in the estimated fair market value of Dacha’s metals inventories, change of control payment obligations in favour of certain of Dacha’s former executives and consultants that became payable upon the reconstitution of Dacha’s board on November 28, 2012 and professional fees incurred in relation to that board reconstitution including in connection with a related Court application initiated by Dacha’s former board that was subsequently dismissed with costs payable by Dacha.

To view the whole press release, click here.