Mike Fagan,
Editor
July 2, 2024
MineHub Technologies Inc. (TSX-V: MHUB)(OTC: MHUBF) — currently trading around C$0.30 per share — has announced accelerating customer activity across its digitized commodity supply chain platform resulting in record revenue for fiscal Q1 2025.
For those new to the MineHub story, the company is ushering in a new era of efficiency and transparency in the global mining industry, effectively bringing the commodities supply chain sector into the 21st century through the digitization of the processes involved in commodities transactions.
Quickly out of the gate, MineHub has successfully partnered with some of the largest players in the space — including agreements with BHP, a leading base metals producer, Codelco, the world’s #1 copper producer, Sumitomo, one of Japan’s largest corporations, and Southwire, one of the largest copper wire manufacturers in the world.
MHUB’s customer base has expanded from just 20 companies connected to its digitized platform in 2021 to over 165 today and growing at a rapid clip.
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Reflective in that growth, an acceleration in customer activity is proving highly effective in increasing the cumulative gross merchandise value (GMV) transacted on the MineHub platform. Comparing fiscal Q1 2025 to the prior-year quarter, GMV has ballooned from $3.2B to over $4B of commodities transacted on the platform.
The company also achieved record revenue of $776K for the quarter, representing an increase of 127% compared to the year-earlier period. Net loss came in at $1.3 million compared to a net loss of $2.3 million for the same quarter last year with the sharp decrease in net loss resulting primarily from improved costs and increased revenue.
MineHub Technologies CEO Andrea Aranguren commented on the solid quarterly balance sheet performance via press release:
“The first quarter of fiscal 2025 was a remarkable period for MineHub, characterized by record revenue and strategic accomplishments. We launched our Business Confirmations Module and secured a services agreement with a major Canadian bank. The long-term opportunities for MineHub are vast as we continue to implement our strategy of delivering enhanced value to customers and expanding our ecosystem, which are the foundation for further sales growth and profitability. The Company is establishing a first mover advantage with MineHub actively working with over 165 companies including many industry leaders.”
Management further reports that the primary focus going forward will be on growth initiatives targeting new customer contracts whilst simultaneously adding ecosystem partners through its systematic customer onboarding process.
As just one example of that highly efficient process, MineHub has shown exemplary success in onboarding Codelco’s ecosystem partners from the outset and throughout fiscal Q1 2025 with a running tally of 55 of the copper giant’s ecosystem partners now added to the MHUB platform.
Looking ahead, the MineHub team also has its sights set on expanding the volume of goods managed for customers, which, in turn, should keep that positive trend of increased GMV of commodities transacted on its platform going in the right direction to the benefit of MHUB stakeholders.
Additional 1H 2024 milestones include:
- Secured a services agreement with a large Canadian bank to deploy the MHUB Consignment Module, effectively digitizing the way companies manage and reconcile inventory balances for the management of non-ferrous metals transactions.
- Entered into a collaborative partnership with Surecomp — a global leader in digital trade and supply chain finance solutions — on the integration of the MHUB platform into Surecomp’s RIVO solution.
- Launched a pilot program with copper wire producer Southwire and the Panama City Port Authority of Florida on modernizing and streamlining the transportation process for copper cathode shipments, thereby enhancing real-time tracking and security.
With momentum building seemingly across all fronts, MineHub stands to continue to benefit from a bevy of tailwinds presently forming in the commodities supply chain space, including ever-changing industry regulations, new rules on ESG compliance, as well as risk mitigation and fraud mitigation that only digitization can provide.
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MineHub, which anticipates continued acceleration of user growth and revenue growth over the coming quarters reflecting its market-leading position among digitized commodity supply chains, has elevated its profile as one-to-watch in what’s shaping up to be a multi-year commodities supercycle.
Watch a replay of the company’s 27 June 2024 webinar here.
For a deeper dive, our own Gerardo Del Real of Junior Resource Monthly caught up with MineHub Technologies executive chairman Vince Sorace to discuss the company’s first-mover advantage in the global commodities supply chain sector and the significant growth prospects ahead. Please enjoy!
For additional information on Vancouver-based MineHub Technologies Inc., be sure to contact the company’s IR department here.
Sign up to receive updates directly from the company at the MineHub corporate website and view the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from MineHub Technologies