Taseko Mines Ltd T.TKO

Alternate Symbol(s): TGB

Metals & Mining Copper

Taseko Mines Limited is a Canada-based copper focused mining company. The Company's principal assets are the 100% owned Gibraltar mine (Gibraltar), which is located in central British Columbia and is one of the largest copper mines in North America and the Florence Copper project, which is under construction. The Company also owns the Yellowhead copper, New Prosperity gold-copper, and Aley niobium projects. The Florence Copper project is located south of Phoenix in the community of Florence, Arizona. The Yellowhead Project is located in the Thompson-Nicola region of British Columbia, approximately 150 kilometers (km) northeast of Kamloops near the town of Vavenby. The Aley niobium project is located in northeast British Columbia. The New Prosperity property is located in south-central British Columbia and hosts one of the most significant copper and gold deposits in Canada. It is also located in an area of cultural significance to the Tsilhqot'in Nation, known as Teztan Biny and Nabas.

TSX:TKO - Post by User

Taseko Mines Ltd

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Post by silvertonon Sep 16, 2009 8:55pm

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Post# 16312933

TKO and Copper Mountain

TASEKO MINES NOW A SIGNIFICANT SHAREHOLDER IN COPPER MOUNTAIN
MINING CORPORATION EXPRESSES CONCERNS OVER COPPER MOUNTAIN’S
HIGHLY DILUTIVE FINANCING

NEWS RELEASE

September 16, 2009 - Taseko Mines Limited (TSX: TKO; AMEX: TGB) (the “Company”) announced today that as a significant shareholder of Copper Mountain Mining Corp. (“Copper Mountain”) it has expressed concerns to Copper Mountain over its highly dilutive $1.15 brokered financing (the “Brokered Financing”) announced today.
Taseko advises that on September 15, 2009 it delivered a written share exchange merger proposal to the Copper Mountain Board which valued Copper Mountain at a large premium to the Brokered Financing announced by Copper Mountain today. The Brokered Financing will only net Copper Mountain less than $1.10 per share and will result in well over 130% dilution to its shareholders. The Taseko offer also included an unconditional and immediate cash financing of $10 million at a similar premium price per Copper Mountain share relative to the Brokered Financing. Taseko plans to take legal steps to try to subject the Brokered Financing to a Copper Mountain shareholders’ vote. Other concerned Copper Mountain shareholders are invited to contact Taseko at the numbers below.
Russell Hallbauer, Taseko President and Chief Executive Officer commented: “We believe the $1.15 brokered financing badly undervalues Copper Mountain and we were astonished that our offer was not properly responded to before the brokered deal was priced. We see this as a large loss of value for the current Copper Mountain shareholders and we intend to do what we can to allow Copper Mountain shareholders to have a voice in this.”
For further information, contact Peter Mitchell, Chief Financial Officer – 778-373-4545, toll free 1-800-667- 2114.

No regulatory authority has approved or disapproved of the information contained in this news release.

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