Resolute to acquire Toro Gold for $274m.

Resolute Mining, an Australian gold miner, agreed to acquire Toro Gold, a private gold producer with its flagship asset, Mako, located in eastern Senegal, for $274m. "The Mako Gold Mine is a high quality, strongly cashflow generative producing asset which complements our existing portfolio of large-scale, long-life mines. The Toro Gold team discovered the Mako orebody in 2010 and have successfully developed a high value gold mine. We are delighted to combine our businesses. Senegal is an attractive investment jurisdiction for mining, and we look forward to working closely with the Government of Senegal, our 10% partner at Mako, to maximise the value within Toro Gold's portfolio," John Welborn, Resolute Managing Director and CEO.