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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.

Nick Clarke

Non-Executive Chairman

Nick has over 40 years of mining experience, including 16 years spent within senior management positions in production and technical services in South Africa, Ghana and Saudi Arabia. Nick served as the managing director of Oriel Resources until its acquisition by OAO Mechel for $1.5 billion in 2008. In addition, Nick was Managing Director at Wardell Armstrong International, where he managed numerous multidisciplinary consulting projects in the resource sector. He is a graduate of Camborne School of Mines and a Chartered Engineer. In 2013, Nick was named CEO of the year at the Mining Journal outstanding achievements awards. He joined Central Asia Metals in 2009 as Chief Executive Officer prior to the company’s IPO in 2010, and assumed the role of Chairman in June 2016

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 Certified Professional Engineer, and has thirty-five years of experience in mining project evaluation, development and implementation.

He spent several years with Minproc Limited in Australia and the USA in various roles, including Project Manager and Construction Manager for Newmont Mining Company's Yanacocha Gold Project in northern Peru. Subsequently, he has undertaken various roles in publicly listed mining companies including, Chief Executive Officer, President and a Director of Laguna Gold Company, focused on development of exploration projects in Central America; Vice President Project Development of Gabriel Resources Limited, based in Romania, responsible for managing development of the Rosia Montana project, including preparation of a definitive feasibility study; CEO and a Director of Navan Mining PLC, a ‘turn around’ situation and a company operating under extremely difficult financial circumstances that was placed into administrative receivership by the major creditor at the end of 2002; and Executive Vice President and Chief Operating Officer, based in Bulgaria, of Dundee Precious Metals, which purchased the Bulgarian assets of Navan. After leaving Dundee Precious Metals 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.