There are mounting concerns over Canadian B.C.’s Taseko Mines Ltd and its recent stock-plummet, with many asking probing questions as to just how stocks in the company fell so quickly.
The general sentiment is that the sell-off was the direct result of a leak from within the government prompting Liberal MP Mark Holland (public safety critic) to request an official investigation into the 40 per cent stock decline.
Shares in Taseko Mines Ltd fell by 40 per cent on the Toronto Stock Exchange. The suspicion comes from the timing, which was exactly two weeks before Ottawa announced it was blocking the firm’s planned development of a controversial B.C mine.
Holland wrote to the RCMP stating, “As the integrity of the federal government and cabinet is a matter of serious public concern, it is in the interest of all Canadians that this matter be resolved. I therefore request that you look into this case and determine whether or not there are grounds to launch a formal investigation.”
Holland is of the mindset that a member of the Tory government was responsible for divulging the information which prompted that mass shares-sale. Confirming this belief he commented, “Someone, somewhere in the Conservative government leaked.”
The investigation emphasised a huge amount of curiosity and finger pointing from Holland’s camp. His second question read:
“One day out of nowhere, the stock dropped 40 per cent. That’s no accident. This was a decision of the Conservative government, of its cabinet, and when did the share prices plunge? Around the same time the minister secretly met in cabinet to block the mine. Normal investors got wiped out, insiders leaked the information and made millions.”
The pinnacle question was fired when Holland asked, “What assurances do we have the Conservative insiders didn’t make out like bandits…?”
As the investigation continues, details will more than likely become suitably clearer.