News Details

Upward Momentum: Taseko's C$1.05 per Share Offer for bcMetals..

2006/11/21 12:57:29

Corp. Set to Launch November 23, 2006  Nov 21, 2006 (M2 PRESSWIRE via COMTEX) -- Taseko Mines Limited operates as a mining and mineral exploration company in Canada. It has interests in Gibraltar copper-molybdenum mine and Prosperity copper-gold property located in south central British Columbia; and Harmony Gold Property located in Graham Island, British Columbia.  Shares are up 2.20% reaching a high of $2.32 on a volume of over 200,000 in the afternoon trading on Tuesday. Today's momentum came in as Taseko Mines Limited (AMEX:TGB) announced that further to its November 2, 2006 news release, it will launch a C$1.05 per share take-over bid offer for all of the outstanding shares of bcMetals Corporation (TSX VENTURE:C.V) on November 23, 2006. The offer represents an 11% premium over a recent third party offer for bcMetals. In light of intervening events, Taseko has decided to lower the tendering threshold condition for its bid from 90% to 66 2/3%. The other principal conditions remain as previously announced and include the requirement for a conditional settlement that would allow Taseko to acquire the minority shares of bcMetals' subsidiary, American Bullion Minerals Ltd., and the defeat by bcMetals shareholders at their November 30, 2006 special meeting of both the Limited Purpose Shareholder Rights Plan (or the deactivation of the plan by the Board) and the resolution to approve the proposed joint venture of the Red Chris Property with Global International Jiangxi Copper Mining Company Limited.  MarketGainer.com is quickly emerging as one of the newest and most exciting online newsletters for international, small-cap investors looking to stay a step ahead of the markets.  Taseko President and CEO, Russ Hallbauer, stated, "As we have previously commented, this is a solid bid and should appeal to the bcMetals shareholders who would prefer to see cash-in-hand rather than hold shares in a minority participant in a joint venture."  To view the rest of today's articles and comparables join us at www.marketgainer.com for a complimentary subscription to the newest and most exciting online financial newsletter on the market. 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