Yamana team back with US$267M Allied Gold raise
Allied Merger Corporation (AMC), a company formed and run by former Yamana Gold principals led by Peter Marrone, and Mondavi have raised US$267 million ahead of a reverse takeover with Allied Gold and Mondavi Ventures.
Allied Gold owns or controls three producing mines and several development and exploration projects in Côte d'Ivoire, Mali, Ethiopia and Egypt, producing more than 370,000ozpa and with aggregate reserves of more than 10Moz and more than 15Moz of resources.
The portfolio, assembled by Justin Dibb and the Allied team with the backing of Orion Resource Partners, includes development opportunities that could double consolidated production. These include an optimisation and expansion at Sadiola in Mali and the development of the Kurmuk project in Ethiopia.
Marrone will lead the new management team as chair and chief executive. The team also includes Daniel Racine as president, Gerardo Fernandez as chief development officer and Jason LeBlanc as CFO. Dibb will transition to the role of vice chair. Marrone and other former Yamana executives have all invested in Allied Gold.
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