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11/3/10

Taseko Mines (TGB) (TKO.to): A leaky boat

Hey, remember all that flashcrash thing about Taseko Mines (TGB) (TKO.to) ("TKO"...geddit?) on October 14th when the stock fell a squillion or so on 23m shares traded? Well here's the chart to yesterday.....

.....and here's an excerpt of the news from Reuters today about TGB:
Nov 2 (Reuters) - The government of Canada has decided to block the development of Taseko Mines' (TKO.TO) controversial copper-gold mine in British Columbia, Environment Minister Jim Prentice said on Tuesday.
Ottawa's decision -- based on "concerns about the significant adverse environmental effects" -- overrules British Columbia's provincial government, which had granted permission for the Prosperity project to go ahead.
The news hammered shares of Taseko Mines, which fell 25 percent to $4.89 in after-market trade in the United States.
And here's the "extremely disappointed" TGB's NR this morning. Seems the market was trying to tell you something after all, no? Oh by the way, Franco Nevada (FNV.to) is taking a bit of a bath on this news too, what with its royalty stream affected.