MineHub revenue surge cuts FY loss


Staff reporter

Top image :
MineHub Technologies CEO, Andrea Aranguren

Canadian mining software company MineHub Technologies has booked C$2 million of revenue for its 2024 fiscal year, helping to pull back its net loss for the year to $6.5 million from $8.5m in FY23.

The company had net cash of $3.87m in the bank at the end of January this year.

Revenue of $0.64m in the fourth quarter helped MineHub lift full-year sales by 976% year-on-year to $2.009m.

It said $13.8 billion of commodities, measured as cumulative gross merchandise value (GMV), was transacted on its digital trading platform on a fiscal year basis from February 1, 2023, to January 31, 2024.

“Fiscal 2024 was a milestone year for MineHub, marked by significant growth and strategic achievements,” CEO Andrea Aranguren said.

“In the fourth quarter we successfully implemented our platform with Codelco, the world’s largest copper producer, and we bolstered our financial position by closing a substantial private placement financing.

“The outlook for MineHub is exceptionally promising with rising sales, the continued enhancement of our offerings, and the ongoing onboarding of new customers and their ecosystem partners.”

Toronto-listed MineHub’s share price is up by about two-thirds in the past month at 30c, capitalising the company at circa-$20.5 million.

 

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