News Details

TKO: To Offer C$1.05 Per Share for bcMetals Corp.

2006/11/02 09:30:42

Ridgeland, MS, NOV 02, 2006 (EventX/Knobias.com via COMTEX) -- By Brian Edwards, bedwards@knobias.com  Taseko Mines Limited (TGB) announced that it will shortly make a C$1.05 per share take-over bid offer for all of the outstanding shares of bcMetals Corporation. The offer will represent an 11% premium over the current bid price for bcMetals being made by Imperial Metals Corporation. The Taseko bid will be formally initiated within the next few days and will be subject to a number of conditions, principally that 90% of bcMetals shares are tendered to the bid, the concurrent acquisition by Taseko of the minority shares of bcMetal's subsidiary, American Bullion Minerals Ltd., and rejection by bcMetals shareholders at their November 30th, 2006 special meeting of bcMetals' recently announced Limited Purpose Shareholder Rights Plan and its proposed joint venture of the Red Chris Property with Global International Jiangxi Copper Mining Company Limited.  The details of the offer will be included in a formal take-over bid circular to be mailed to bcMetals shareholders and publicly filed in accordance with applicable securities laws. The Taseko bid will also offer C$0.02 for each out-of-the-money bcMetals share purchase warrant. Taseko intends to promptly make the necessary regulatory filings in the respect of the offer. The offer will be subject to other customary conditions, including receipt of any necessary regulatory approvals and absence of material adverse changes all of which conditions will be described in detail in the formal bid circular.  KNOBIAS DISCLAIMs.com  CONTACT: Knobias.com, LLC  601-978-3399  601-978-3675  info@knobias.com   www.knobias.com/cmtx  Copyright 2004 Knobias.com, LLC, All rights reserved.  **********************************************************************  As of Sunday, 10-29-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 10-17-2006 for TGB @ $2.44.  For more information on Comtex SmarTrend? Alert, contact your market data provider or go to CSTADirect.com  SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright ? 2004-2006 Comtex News Network, Inc. All rights reserved.  -0-  SUBJECT CODE: Watch Stories  KNO-Zone  EventX Service  Shareholder Issues  Important Co. News  02-Nov-2006 09:30