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Peter Marrone, former Yamana Gold Inc. executive chairman, is back at the helm of a Canadian precious-metals producer after putting US$30-million of his own money into Africa-focused Allied Gold Corp.
Allied went public earlier this week on the Toronto Stock Exchange after a reverse takeover and a US$267-million private placement financing anchored by Mr. Marrone and four other former members of Yamana’s management team.
The transaction also saw the Yamana team take the key management and board positions, including installing Mr. Marrone as chief executive officer and chairman, Daniel Racine as president and Jason LeBlanc as chief financial officer.
Yamana, which was founded by Mr. Marrone in the early 2000s, was sold earlier this year to Canada’s Agnico Eagle Mines Ltd. and Pan American Silver Corp. for US$4.8-billion.
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