VANCOUVER, BC, June 18, 2021 /CNW/ - Taseko Mines
Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the
"Company") today announced the voting results from its 2021 Annual
General Meeting held yesterday. Additionally, the Company
announces the retirement of Russell
Hallbauer, Chief Executive Officer, and John McManus, Chief Operating Officer, effective
June 30, 2021. Russ will remain
a Director of the Company, and Stuart
McDonald, currently President, will also assume the role of
Chief Executive Officer. Richard
Tremblay will be promoted to Senior Vice President,
Operations and Richard Weymark has
been appointed Vice President, Engineering.
Ron Thiessen, Chairman of the
Board, commented, "On behalf of the Board and all stakeholders, I
would like to thank Russ and John for their 16 years of
achievements at Taseko, and congratulate them on their retirements
after long and distinguished careers in the mining industry.
Russ' leadership and vision during his tenure as CEO has
resulted in a company that achieved significant production growth
and established an unparalleled pipeline of mining projects.
His experience and dedication helped the Company navigate
through some of the most challenging periods ever experienced in
financial markets, and also generate over $900 million of operating cash flow. John's
operating background was foundational as Gibraltar went through a multi-year,
$800 million expansion and ramp
up. John has also been instrumental in advancing the Florence
Copper project since its acquisition in 2014."
Russell Hallbauer, CEO and
Director, commented, "We have had a succession plan in place for
our internal technical team for a number of years.
Richard Tremblay, Senior VP
Operations, has over 30 years of experience in mining operations in
BC and has been a key member of the team since joining Taseko in
2014 as General Manager of our Gibraltar Mine. In 2019 he was
appointed Vice President, Operations and since then he has been
responsible for oversight of the Gibraltar Mine, and all activities
related to development of Florence Copper and our other
projects."
"Richard Weymark, Vice President
Engineering, joined Taseko in 2018 as Chief Engineer and previously
spent 10 years in progressively senior roles at Teck's Highland
Valley Copper operation including roles in mine engineering, mine
operations and tailings dam construction. Richard will
continue to focus on the advancement of the engineering and
environmental aspects of Taseko's pipeline of development
projects."
AGM voting results
A total of 141,179,859 common shares were voted at the Annual
General Meeting, representing 49.9% of the votes attached to all
outstanding common shares. Shareholders voted in favour of all
items of business before the meeting, including the election of all
director nominees as follows:
Director
|
% Votes in
Favour
|
Anu Dhir
|
93.7%
|
Robert
Dickinson
|
87.1%
|
Russell
Hallbauer
|
97.9%
|
Peter
Mitchell
|
98.3%
|
Kenneth
Pickering
|
97.8%
|
Ron
Thiessen
|
93.4%
|
Detailed voting results for the 2021 Annual General Meeting are
available on SEDAR at www.sedar.com.
Stuart McDonald
President
No regulatory
authority has approved or disapproved of the information contained
in this news release.
|
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were
based on Taseko's expectations, estimates and projections as of the
dates as of which those statements were made. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "outlook", "anticipate",
"project", "target", "believe", "estimate", "expect", "intend",
"should" and similar expressions.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause the Company's
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking statements. These included but are not limited
to:
- uncertainties about the effect of COVID-19 and the response of
local, provincial, federal and international governments to the
threat of COVID-19 on our operations (including our suppliers,
customers, supply chain, employees and contractors) and economic
conditions generally and in particular with respect to the demand
for copper and other metals we produce;
- uncertainties and costs related to the Company's exploration
and development activities, such as those associated with
continuity of mineralization or determining whether mineral
resources or reserves exist on a property;
- uncertainties related to the accuracy of our estimates of
mineral reserves, mineral resources, production rates and timing of
production, future production and future cash and total costs of
production and milling;
- uncertainties related to feasibility studies that provide
estimates of expected or anticipated costs, expenditures and
economic returns from a mining project;
- uncertainties related to the ability to obtain necessary
licenses permits for development projects and project delays due to
third party opposition;
- uncertainties related to unexpected judicial or regulatory
proceedings;
- changes in, and the effects of, the laws, regulations and
government policies affecting our exploration and development
activities and mining operations, particularly laws, regulations
and policies;
- changes in general economic conditions, the financial markets
and in the demand and market price for copper, gold and other
minerals and commodities, such as diesel fuel, steel, concrete,
electricity and other forms of energy, mining equipment, and
fluctuations in exchange rates, particularly with respect to the
value of the U.S. dollar and Canadian dollar, and the continued
availability of capital and financing;
- the effects of forward selling instruments to protect against
fluctuations in copper prices and exchange rate movements and the
risks of counterparty defaults, and mark to market risk;
- the risk of inadequate insurance or inability to obtain
insurance to cover mining risks;
- the risk of loss of key employees; the risk of changes in
accounting policies and methods we use to report our financial
condition, including uncertainties associated with critical
accounting assumptions and estimates;
- environmental issues and liabilities associated with mining
including processing and stock piling ore; and
- labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we
operate mines, or environmental hazards, industrial accidents or
other events or occurrences, including third party interference
that interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the
Company's annual Form 40-F filing with the United States Securities
and Exchange Commission www.sec.gov and home jurisdiction filings
that are available at www.sedar.com, including the "Risk Factors"
included in our Annual Information Form.
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SOURCE Taseko Mines Limited