Finance
Forge Resources Announces Appointment of Vice President of Finance and Special Advisor
Vancouver, British Columbia–(Newsfile Corp. – November 28, 2024) – Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) (“FRG” or the “Company“) is pleased to announce the appointment of Camilo Cordovez Amador as Vice President of Finance, and Patrick Bonner as Special Advisor to the Company.
Appointment of VP of Finance
The Company has appointed Camilo Cordovez Amador as Vice President of Finance for the Company.
Camilo brings a wealth of experience in both the financial and mining sectors. Camilo brings over 16 years of experience in investment banking, asset management, capital markets, and project development across sectors such as mining, infrastructure, real estate, and energy. Beyond financial advisory, he excels at executing complex projects, collaborating with multidisciplinary teams, and driving strategic decisions to deliver impactful results. As co-founder and executive at multiple firms, he has advised on projects exceeding $100M with international investment groups, worked for funds managing assets of over $700M in previous roles, and played a key role in securing a $78M public listing on the ISDX London Stock Exchange.
For the past two years, he has served as Vice President of Finance for Aion Mining Corp. and is now scaling up in his role as Vice President of Finance for Forge Resources Corp.
Camilo has a Bachelor of Business and Finance (Cum Laude) from the European University Business School of Barcelona, with specializations in International Corporate Finance from Columbia Business School and private equity funds from EAFIT University. He has been certified as an Advisor in Private Equity Funds, Mutual Funds, Equities, and Fixed Income instruments by Colombia’s regulatory entity, AMV.
Appointment of Advisor
The Company has also appointed Patrick Bonner as a Special Advisor to the Company.
Patrick Bonner is a seasoned investor with a strong history of success in the junior mining sector, equity markets, and real estate. With over 25 years of leadership experience across direct marketing, healthcare, and energy sectors, he offers exceptional management and strategic decision making skills, along with an extensive investment network. Bonner has spearheaded numerous successful real estate transactions, demonstrating his ability to identify and maximize value investments. His 8% stake in our company demonstrates his deep commitment and enthusiasm for the Company. He holds a Bachelor of Science from Dalhousie University and an MBA from Saint Mary’s University.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. The Company holds a 40% interest, with an LOI in place to acquire up to 60% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.
While most of the CDFI fund appears to be protected by Congress, Hinkle Brown said he’s concerned that the rules won’t apply.
“It’s unclear what overzealous implementation in this regard would look like,” he said. “If they eviscerate and make non-functional the CDFI fund there’s a lot of costs, the Philly region will suffer.”
It could put a dent in regional economic development efforts in low income communities, said Leslie Benoliel, CEO of Entrepreneur Works in Philadelphia.
“[Community Development Financial Institutions] are like the capillaries of the financial distribution system in our country. And if you cut off the blood flow to those extremities, that will cause enormous harm,” Benoliel said.
Small business owners who may not typically trust the banking system or government often will work one-on-one with a community organization, she said.
CDFIs across Pennsylvania were allocated $32 million under financial assistance, healthy foods and persistent poverty county financial assistance awards last year.
If there’s no federal support, local nonprofits will likely have to raise money another way, said Varsovia Fernandez, CEO of the Pennsylvania CDFI Network.
“There is a possibility of moving to a fee for services model where small businesses need to pay to receive technical assistance education and I would imagine [loans would have] a higher rate to be sustainable,” she said. “I am hoping that it’s not a drastic change what the White House ends up doing.”
On March 17, U.S. Treasury Secretary Scott Bessent said in a statement that the Trump administration understands the significance of the federal fund and local community lending organizations.
“CDFIs [Community Development Financial Institutions] are a key component of President Trump’s commitment to supporting Main Street America in the pursuit of job growth, wealth creation and prosperity,” Bessent said.
Finance
Stock market today: Dow, S&P 500, Nasdaq futures rise in search for another bounce-back week
US stock futures rose Sunday, as the major indexes looked for another week of gains toward the end of a rough month and quarter.
Futures attached to the benchmark S&P 500 (ES=F) rose 0.6%, with Nasdaq 100 (NQ=F) futures up 0.7%. Futures tied to the Dow Jones Industrial Average (YM=F) advanced around 0.4%.
As of 9:22:10 PM EDT. Market Open.
ES=F YM=F NQ=F
Tariffs continue to demand investor attention, as the April 2 deadline approaches for President Trump to enact reciprocal duties. Trump indicated on Friday that he is maintaining “flexibility” in relation to the tariffs’ rollout, but he hasn’t given a firm idea of what that would look like.
Other concerns for Wall Street include considerations over whether the year-to-date losses have only been a slowdown blip — or if the economy is heading into a recession. JPMorgan strategist Bruch Kasman, for one, pegs the chance of recession as high as 40%.
On the earnings front, quarterly results from Lululemon (LULU), Gamestop (GME), and Dollar Tree (DLTR) are all due this week amid a slower week of financial releases.
Looking at economic data for the week to come, a reading of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures Index, is due Friday. The PCE comes alongside a treading of the University of Michigan’s consumer confidence survey, as well as updates to Purchasing Managers’ Indexes for the manufacturing and services sectors.
Coming soon
Stock market coverage for Monday, March 25, 2025.
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