MineHub Technologies: Building the Digital Backbone of Global Metals Trade

Ticker: TSXV: MHUB | Sector: Technology (Vertical SaaS / Metals Supply Chain) | Rating: BUY | Price Target: C$0.80 (67 % Upside) | Date: 30/08/2025

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Paper, email chains, and spreadsheets still run trillion-dollar metals supply chains. MineHub is quietly wiring that system together.

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By digitising the world’s raw-materials trade flows, MineHub is building the infrastructure layer that connects miners, smelters, traders, and financiers in real time. Following its 2023 acquisition of Waybridge Technologies, the company has established relationships with global majors including Codelco, Sumitomo, and Southwire, and now processes over US $15 billion in annual trade value through its platform.

MineHub’s position as a neutral network—trusted by both producers and buyers—gives it the potential to become the industry’s digital standard. With 198 + counterparties already active and 100 % retention from anchor clients, the company is starting to show early signs of network-effect compounding—the more participants it connects, the more valuable the platform becomes

Why it matters

• Proven utility & stickiness: Real enterprise adoption from Tier-1 miners demonstrates product-market fit.
• Huge pain point: Manual settlement delays tie up billions in working capital; digitisation frees liquidity and improves compliance.
• Network effects building: Every new participant strengthens data integrity and workflow coverage.
• Next catalysts: SaaS revenue growth, gross-margin recovery, and new Tier-1 customer wins

Reality Check (Risks)

Annual recurring revenue sits around ~C$2 million, gross margins near 24 %, and cash burn roughly C$1.5 million per quarter. Execution on monetisation and scaling is crucial—but if successful, the upside is asymmetric.

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