Categories: Base Metals / Energy / Precious Metals
Topics: General Base Metals / General Energy / General Precious Metals

MineHub Technologies (TSX-V: MHUB)(OTC: MHUBF) Executive Chairman Vince Sorace on Building a First-Mover Advantage in the Digitization of the Global Commodities Supply Chain Sector

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the chairman of MineHub Technologies — Mr. Vince Sorace. Vince, it's great to have you on.

[Click here to register for MineHub’s live webinar on 27 June 2024 at 9AM Pacific] 

Congrats, sir. You just had some news. MineHub has achieved record revenue in fiscal year 2025 Q1 with accelerating activity across the board. You are now up to, I believe, over 165 companies. And I think the quality of the partners that you're attracting — the likes of Codelco, Sumitomo, Surecomp, and Southwire, among others — speaks to the moat that MineHub has. 

And I absolutely believe that the next couple of quarters and the next couple of years are going to be transformational ones in the space. I'll let you provide the context on today's news.

Vince Sorace: Thank you, Gerardo. Again, thank you for having me. Yes, I think what we saw today was continued progress with the company. The notables here are, as you mentioned, the industry leaders we're working with; companies like Codelco and Sumitomo. 

We believe there's more of those to come. Our ecosystem partners have increased significantly. And what that is is when we get big customer accounts like, say, a Codelco, well Codelco doesn't operate in a box. In order for them to be able to utilize the efficiencies of a platform like this, they have to bring on their ecosystem, which is logistics companies and other suppliers, etc. So they all get onboarded onto our platform and so on and so on.

That's a big part of our sales strategy as well. If you also notice in that press release, we've also now increased our gross merchandise value, GMV, to over $4 billion of commodities transacted on our platform. 

What that metric is good for is we can grow into that and how our pricing models work, etc. We have a big ecosystem already on the platform. When the major customers push them on, they come on as kind of free users. And that's our target market to convert them into full paying customers. So that $4 billion GMV is a good metric to the potential right now that we can grow into, let alone having new customers and additional customers come onto the platform.

We’re continuously solidifying that moat in the industry; that is, our communications with the market and the new potential customers that we continue to talk to. There's no one else out there offering what we offer to the market. And more and more of the companies around the world are recognizing that and are talking to us. 

So yes, I think it's an exciting opportunity that’s just going to continue and the momentum will continue to build over the coming period and definitely over the next couple of years.

Gerardo Del Real: Well, listen, I'm looking forward to seeing the company be profitable. You are on a fast track towards that. I am really excited to see the options and possibilities that this digital supply chain moat that you've built out, how you're able to translate that into other sectors outside of the commodity markets. 

We've talked about this briefly in the past. But I’ve got to believe that there are eyes and conversations being had about that because it seems like this part of the business model has clearly proven itself out.

Vince Sorace: Definitely… and I would say that there's still a long, long way to go in the commodity cycle. All we've really been talking about so far primarily has been the copper side and some aluminum. We've got our sights set on expanding into the commodities market here quite aggressively. 

So there is a massive opportunity in other aspects or other segments of the commodities market that we haven't tapped into yet. And that's easy. That's low hanging fruit for us.

Another aspect that's pretty relative to the commodities market, because a lot of our customers are involved in adjacent markets like chemicals, that our customers are involved with because of their mining operations and/or current operations. So there is a bunch of low-hanging fruit now that we can start moving aggressively into and are going to start moving aggressively into before we even start thinking of broader markets. 

You may be alluding to something like industrial products or things like that but the platform is material agnostic. It has a pretty bright future ahead of it with respect to what it can morph into even outside of the commodities markets, as you've mentioned.

Gerardo Del Real: Well, exciting times. Thank you for the update. The company will be hosting a webinar at 9AM Pacific tomorrow (27 June 2024). I encourage everyone to go to the MineHub Technologies website and get registered. 

We will provide a link in the transcript here at the bottom of the transcript for anyone inclined to get on there. It's a unique business model. Nobody is doing it. That's a heck of a first-mover advantage when there's literally zero competition out there. Thanks again, Vince.

Vince Sorace: Thank you, Gerardo.

Gerardo Del Real: Alright, chat soon. Cheers.

Vince Sorace: Cheers. 

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