Blue Gold appoints former RBC executive to advisory board

NEW YORK - Blue Gold Limited (NASDAQ:BGL), a $855 million market cap company whose shares have gained nearly 7% in the past week despite a 32% decline over the last year, has appointed Jeremy Frommer, a former RBC Capital Markets executive, to its Executive Advisory Board, according to a press release issued Thursday.

Frommer, who is currently Executive Chairman and founder of Creatd, Inc., will provide strategic guidance on expanding the company’s institutional investor reach and accelerating the integration of blockchain-enabled gold-backed assets into global markets. According to InvestingPro data, the company maintains a "GREAT" financial health score, suggesting strong fundamentals for potential institutional partnerships.

The new advisor previously served as Managing Director and Head of Global Prime Services at RBC Capital Markets after the bank acquired Carlin Financial Group, where he was CEO. Frommer also founded NextGen Trading, a developer of proprietary equity trading platforms.

"I’m eager to bring my institutional finance and technology expertise to help position the Company as a leader in the digital gold era," Frommer said in the statement.

Blue Gold CEO Andrew Cavaghan said Frommer’s "track record in building and financing high-growth financial technology companies will help sharpen our market positioning and open new channels for institutional investment."

Blue Gold Limited describes itself as a gold development company that combines traditional mining assets with blockchain technology to create gold-backed tokens. The company aims to enable secure and efficient transactions for both institutional and retail investors.

The company trades on the Nasdaq under the ticker BGL and focuses on acquiring mining assets across various global jurisdictions while developing digital instruments backed by gold assets.

In other recent news, Blue Gold Limited has announced a significant move to acquire a 90% stake in the Mampon Gold-Copper Mine located in Ghana’s Ashanti Gold Belt. The acquisition is structured with Blue Gold issuing approximately $26.25 million in equity, valued at $35 per share. The deal also includes an earn-out structure with potential additional payments based on confirmed gold and copper resources. This acquisition aims to expand Blue Gold’s operations in the region.

Additionally, Blue Gold has formed an Advisory Board for Blockchain Evolution, appointing T. Jack Williams as its first member. Williams is noted for his contributions to the electronic gift card industry and has extensive experience in financial technology. In a related development, Blue Gold has partnered with TripleBolt Technology LLC to create a blockchain-based digital asset backed by gold futures. This initiative, named Blue Gold Coin, plans to leverage the value of gold with the transparency of blockchain technology.

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