The Globe and Mail reports in its Saturday edition that Peter Marrone, former Yamana Gold executive chairman, is back at the helm of a precious-metals producer after putting $30-million of his own money into Africa-focused Allied Gold (all figures U.S.). The Globe's Niall McGee writes that Allied went public last week on the Toronto Stock Exchange after a reverse takeover and a $267-million private placement financing anchored by Mr. Marrone and four other former members of Yamana's management group. Mr. Marrone is chief executive officer and chairman, Daniel Racine is president and Jason LeBlanc is chief financial officer. Yamana was sold earlier this year for $4.8-billion. Unlike Yamana's Americas-based operations, Allied's operating mines are located in West Africa, traditionally a far riskier jurisdiction for mining companies that weighs on valuations. With a market valuation of $1.35-billion, Allied will compete for investor capital with other Africa-focused players such as B2Gold, Centamin and Endeavour Mining. Asked about his thoughts on accepting a takeover offer for Allied Gold, Mr. Marrone said that if the choice was between selling out for a 40-per-cent premium, or going it alone, he prefers the latter.