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Board of Directors

Toro Gold has established an experienced board of directors with a diverse and complementary skill set that will support the Company in achieving its stated strategy of developing a multi-mine gold producer.

The board has a strong track record in the exploration, development and operation of gold assets in Africa in addition to the commercial and corporate experience required to support the management team.

Adonis Pouroulis

Non-Executive Chairman

Adonis is an entrepreneur whose expertise lies in the discovery, exploration and development of mineral resources including diamonds, precious / base metals, coal and oil and gas, and bringing these assets into production across the African continent. Adonis qualified as a mining engineer from the University of Witwatersrand in Johannesburg in 1991 and subsequently spent some time working in the South African gold mines before heading to the Former Soviet Union where he established the Koronia metal trading company in Moscow. In 1994, having returned to South Africa, Adonis founded Blue Diamond Mines that developed a diamond mining operation in Port Nolloth and brought it into full production. Seeing an opportunity to create a larger, international diamond company focused in Africa, he founded Petra Diamonds and in 1997 it became the first diamond company to be listed on London's AIM market with a market capitalisation at the time of just £10 million. He has since overseen Petra's development from an exploration base into a FTSE 250 company and one of the largest independent diamond producers in Africa. He has been influential in the founding, development and listing of a number of other natural resources companies and is involved with other private companies all of which are at varying stages of the value chain within the Pella Resources Group.

Martin Horgan

Director and CEO

A mining engineer by training, Martin has worked across numerous areas of the mining sector including as an engineer for Gold Fields in South Africa, for Steffen Robertson & Kirsten in the UK and RSA offices, at Barclays Capital and as Executive Director of BDI Mining Corp. At Barclays his responsibilities included the origination and execution of mining project finance and advisory business across the African and the Middle East regions, global responsibility for the technical appraisal and review of all investments, environmental and social compliance of the investments in line with international standards and the financial modelling of all transactions. As Executive Director of AIM listed BDI Mining, Martin was part of the team which negotiated the sale of the Company to Gem Diamonds in 2007 realising a record share price for the Group.

Boubacar Thera

Director and International Business Development Officer

Boubacar Thera is a mining administrator and lawyer and has been involved with francophone African countries since 1994. Prior to joining Bambuk in 2009, Mr. Thera was appointed Manager and Chief Government Liaison Officer of AXMIN and African Selection Mining, and has previously acted as a consultant for other mining companies.

Mark Lynam

Non Executive Director

With a mechanical engineering degree from University College Dublin Mark began his career in the mining industry with Anglo American Corporation at Western Deep Levels gold mine, before joining the management training program at Anglo American Corporation.

Mark gained extensive experience in gold and currency hedging within the gold division, becoming Vice President Treasury of AngloGold Limited, responsible for the groups treasury, including credit ratings, hedging, bank debt and capital market funding in the South African and international markets. As finance manager for AngloGold Ashanti’s African operations, he dealt with tax and mining agreement negotiations with African states.

He served on the boards of several of the groups operational mining and international holding companies, the Rand Refinery and Rand Mutual Assurance Limited. After leaving AngloGold Ashanti in 2013, he served for a year as Interim CEO at Rand Refinery Limited and now serves on the Investment Policy Committee at Professional Provident Society Investments Limited.

Laurence Marsland

Non Executive Director

Mr. Marsland is a graduate of the Western Australia Institute of Technology where he completed a Bachelor of Applied Science in Mechanical Engineering. He attended the Stanford Sloan Fellows Program at the Stanford University Graduate School of Business where he completed a Master of Science in Management degree. Mr. Marsland is a Fellow of the Institution of Engineers Australia, a Chartered Professional Engineer and has thirty years of experience in mining project evaluation, development and implementation.

He spent a number of years with Minproc Limited in Australia and the USA. While in working for Minproc one of his assignments was as Project Manager and Construction Manager for Newmont Mining Company's Yanacocha Gold Project in northern Peru. His responsibilities included engineering, procurement and construction management, for the 10,000 tonnes per day gold heap leach project, located at 4,100 meters in the Peruvian Andes. After leaving Minproc he joined Laguna Gold Company where he was the Chief Executive Officer, President and a Director. He was responsible for day-to-day operation of the company and reporting to the board of directors. While at Laguna he was involved in securing a listing on the Toronto Stock Exchange and completing financings to fund development of exploration projects in Central America.

Prior to joining Gabriel Resources Limited in January 2000, he was consulting to various junior mining companies assisting them with project development. As Vice President Project Development at Gabriel he relocated to Romania and was responsible for managing development of the Rosia Montana project which included preparation of a definitive feasibility study that contemplated development of the project at a throughput of 20 million tonnes per annum. In February 2002 he joined Navan Mining PLC as CEO and a Director. Although having been refinanced Navan was a “turn around” situation and operating under extremely difficult financial circumstances. Despite offers to refinance the company, it was placed into administrative receivership by the major creditor at the end of 2002.

Post Navan he partnered with Dundee Precious Metals to bid for purchase of the Bulgarian assets of Navan. The bid was successful and, while being based in Bulgaria, he has assumed the role as Executive Vice President and Chief Operating Officer of Dundee Precious Metals Inc. After leaving Dundee Precious Metals in early 2009, he founded a private company incorporated to pursue resource development opportunities and has undertaken various consulting roles related to project development within the mining industry.

Robert Sinclair

Non Executive Director

Mr Sinclair is the Managing Director of Artemis Trustees Limited, founded by him in 2001. He has over 47 years’ experience in finance and accountancy, of which 36 years have been in the Guernsey finance industry. Mr Sinclair has extensive experience in all aspects of offshore trusts, corporate entities and financial planning. He is a director of, and acts for, a number of mining and exploration companies, including Chariot Oil & Gas Limited (which is listed on AIM) and was formerly a director of Vallar PLC, Vallares PLC and which are admitted to the Official List and to trading on the London Stock Exchange, and Chromex Mining PLC which was also listed on AIM. Mr Sinclair is Chairman of Schroder Oriental Income Fund Limited and a director of Picton Property Income Limited which are admitted to the Official List and to trading on the London Stock Exchange, and Sirius Real Estate Limited and Secure Property and Investments plc which are listed on AIM. He is a fellow of the Institute of Chartered Accountants of England and Wales and a Member of the Institute of Chartered Accountants of Scotland and is resident in Guernsey.

David Street

Non Executive Director

David Street is one of the founders and a Principal of Tembo Capital, a mining private equity group which was established in 2014 and is focussed on Africa and other Emerging Markets. Prior to joining Tembo, David was previously a Managing Director of Endeavour Financial, working on financial advisory mandates for mining companies, in addition to working with Endeavour Mining, a mid-tier African gold mining company, on its merger and acquisition activities. Previously, David enjoyed a 15 year career in natural resource banking at NM Rothschild & Sons, culminating in him becoming a Director of Rothschild and Head of Mining and Metals in 2003. David also spent two years with Société Générale as a Director in the Mining & Metals team. David graduated with an MA (Hons) degree in Economics from the University of Cambridge in 1991.