Taseko's C$1.06 Per Share Offer for bcMetals Corp. Set to Launch Nov 23/06


 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549
 
 
FORM 6-K
 
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
 
CIK # 878518
 
 
as at November 21, 2006
 
TASEKO MINES LIMITED
800 West Pender Street, Suite 1020
Vancouver , British Columbia
Canada V6C 2V6
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
Form 20-F...X.... Form 40-F.........
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
 
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
 
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ..... No .....
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
 
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
By: /s/ Jeffrey R. Mason
Director and Chief Financial Officer
 
Date: November 21, 2006
 
Print the name and title of the signing officer under his signature.
-------------------
 

  1020 - 800 W Pender St.
Vancouver BC
Canada V6C 2V6
Tel 604 684 - 6365
Fax 604 684 - 8092
Toll Free 1 800 667 - 2114
www.tasekomines.com

 
TASEKO'S C$1.05 PER SHARE OFFER FOR bcMETALS CORP.
SET TO LAUNCH NOVEMBER 23, 2006
 

November 21, 2006, Vancouver, BC - Taseko Mines Limited ("Taseko" or the "Company") (TSX: TKO) (AMEX: TGB) announced today 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 ("bcMetals") (TSX VENTURE: C) 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.

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."

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 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.

About Taseko Mines Limited

Taseko is positioned to provide immediate returns and longer term growth through its large scale, long life Gibraltar copper-molybdenum mine, its advanced stage Prosperity gold-copper project on which feasibility-level studies are underway; and its Harmony property that hosts a large gold deposit with longer term development potential. All the projects are located in British Columbia, Canada.

For further details on Taseko and its properties, please visit the Company's website at www.tasekomines.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Russell Hallbauer
President and CEO

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


Forward-Looking Statements

This news release contains forward-looking statements that are based on current expectations and which involve risks and uncertainties, including those referred to in Taseko's Annual Information Form ("AIF") filed with Canadian securities regulatory authorities, or Taseko's Annual Form on 20F ("20F") filed with United States securities regulatory authorities, that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in the forward-looking statements. Such forward oriented information includes the timing of making a take-over bid and the uncertainties of in regards to its possible success and related regulatory approvals. Mining is a risky business and actual results may differ materially from those anticipated. Readers are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Taseko disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

For further information on the Company, Investors should review the Company's Canadian public filings at www.sedar.com or its US public filings at www.sec.gov