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Gold bars.
Gold bars.

War of words heats up between Sentry Investments and Timmins Gold

The finger-pointing between Timmins Gold Corp. and asset manager Sentry Investments Inc. heated up on Friday with each company accusing the other of acting in bad faith.

The two companies are at odds over the leadership of Timmins. Toronto-based Sentry, which has a 17-per-cent stake in the gold producer, said Monday that it will seek to replace six of the eight-member board of directors with experienced former mining executives who would provide new ideas and independence to the board. Sentry said the recent mismanagement and missed targets at Vancouver-based Timmins had “eroded shareholder value.”