Taseko Mines (TSX:TKO), the owner of Canada's second largest copper-molybdenum mine, is calling shareholders to vote against a dissident group leading a bitter proxy battle against some of the company's key directors.
Raging River acquired 5% of Taseko's common shares in January this year.Last month, the shareholder group - collectively known as Raging River Capital LP - launched a lawsuit in BC Supreme Court against the Vancouver-based miner and three of its directors: Russell Hallbauer, Ronald Thiessen and Robert Dickinson. Also named in the suit is Taseko's corporate secretary Trevor Thomas.
Raging River, which acquired 5% of Taseko's common shares in January this year, claims the directors were conflicted because they also belong to the board of Hunter Dickinson Inc., (HDI). This company is a privately owned firm that bought Taseko back in 1991.
The company, in turn, says the suit is without merits. "This vote comes down to trust and credibility," Linda Thorstad, Chair of Taseko's Special Committee, said in a statement.
The proxy voting deadline is May 6 at 10 am (Canadian Pacific Time).