Rio Novo Gold Inc. RIVVF

RE:Yamana's CEO is also behind RN....

[elgin1]

Here is the article:

The Financial Post reports in its Wednesday edition that next Monday a new office for a private Brazilian gold company, Rio Novo Gold, opens in Canada. And while the company will be unknown to many Canadians, Rio Novo has chosen a veteran of the world of Canadian investment banking to head the operations. David Beatty, who has spent the past 27 years as a investment banker with most of that time focused on either rounding up capital for mining companies of all sizes or organizing mergers and acquisitions, is Rio Novo's chief executive officer. When reached in Brazil, Mr. Beatty said he plans to get his fingernails dirty as a Brazilian gold miner, a company that plans to go public in Canada this month. Mr. Beatty took the position after requests from Paulo de Brito and Peter Marrone, two executives involved in the formation of Yamana Gold, which boasts a $9-billion market cap and operations in several South America countries. Until Mr. Beatty came on board, the two properties that will form the basis of Rio Novo were owned by Mr. de Brito and Mr. Marrone. (The two acquired them in 2006.) Mr. Marrone is Yamana's chief executive officer, while Mr. de Brito is a large shareholder, but not a director.

So Britos through Zoneplan owns majority of the company - so takeover wont be easy by a major but he might take it over himself for a cheap price.