(Ecofin Agency) - Mining company Toro Gold has announced that development activities at its Mako gold project in Senegal are going according to schedule and remain within budget planned, indicating that the mine should produce its first gold in Q1 2018. They will take 18 months and $158 million will be needed to bring the project to a stable production stage. 

“Since receiving the mining permit in July 2016 Toro Gold has made significant progress in both the construction and operational readiness activities at site,” said Martin Horgan, CEO Toro Gold.

The firm adds that construction of the processing plant is completed, same goes for related earthworks.

Located in the Eastern part of Senegal, near the Niokolo Koba national park and the Gambia River, the Mako project has an estimated lifeline of 8 years and holds a million ounces of mineral resources with an average grading of 2.25g/t, JORC.