dsm_chart.pngDacha Strategic Metals Incorporated (CVE:DSM) (PINK:DCHAF) soared to new highs today after a technical resistance break coincided with the company’s announcement of a stock buyback plan and appointment of a new CFO.

DSM share price had already broken out to new 52-week high on Monday and part of that momentum could be felt today. The stock added solid 6.6% during the morning spike today under a trading volume of over 1.1 million, which was more than twice the 90 day average value.

The stock got the attention after it passed above the 60 cent resistance which had stopped it in October 2010. The news had some influence on the price appreciation as well, adding a backbone to the otherwise questionable strength rally.

In the news, the company said they want to do a normal-course issuer bid as well as announced an appointment of a new CFO.

9dacha_logo.jpgDacha is ready to buy back 10% of the outstanding common shares of public float. Roughly 6.7 million shares would be canceled if all goes well. Theoretically such action should cause a share price increase, however the recent rally clearly added more value than it could have been expected.

Dacha also stated that Mr. Ryan Ptolemy will take the seat of CFO following the resignation of Mr. Brad Boland, who worked for the company since fall 2009.