Timmins Gold Corp said it had set up a special committee of independent directors to help respond to a proxy fight launched by a major shareholder to take control of the Canadian gold miner's board.Asset manager Sentry Investments, which owns about 17 percent of Timmins, said on Monday that the company's assets had been mismanaged and its board was not sufficiently independent.Sentry said it planned to nominate six candidates for Timmins' eight-member board.The asset manager had also alleged that the gold miner had ignored shareholder requests to allow possible buyers to conduct due diligence.
Timmins Gold Corp. (Timmins) is a gold mining and exploration company. Shares of TGD traded higher by 8.16% or $0.12/share to $1.59. In the past year, the shares have traded as low as $0.97 and as high as $2.69. On average, 270195 shares of TGD exchange hands on a given day and today's volume is recorded at 428407.
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