HUB Cyber Security Ltd. (NASDAQ: HUBC) announced that its Trust Infrastructure will be embedded into the Tivani Tier‑1 Critical Minerals Project, a titanium‑magnetite development in South Africa, as the project moves into the pre‑construction phase.
The Tivani project contains roughly 519 million tons of titaniferous magnetite ore, is fully permitted, and is slated to begin production in 2027. The pre‑construction phase involves detailed engineering, procurement, and capital deployment, positioning the project for a 2027 start‑up.
This deployment marks HUB’s first operational use of its Trust Infrastructure in a large‑scale mining operation and follows a term‑sheet agreement to acquire Ferrox Critical Minerals, the operator of Tivani. The move signals a strategic pivot toward integrating secure digital systems with physical asset operations, potentially creating a new revenue stream for HUB amid its existing software business.
HUB’s recent financial performance has been challenging: 2024 revenue fell 30.7% to $29.56 million from $42.66 million in 2023, and the company posted a $39.76 million loss. The company’s shareholder equity is negative, and short interest stands at 33.7% of the float. These metrics underscore the significance of the Tivani project as a potential catalyst for revenue growth and financial stabilization.
CEO Noah Hershcoviz emphasized that “Projects entering pre‑construction require verification to be embedded at the operating layer, not added afterwards.” He added that the integration of trust architecture will support disciplined capital sequencing as the project advances. Ferrox CEO Terrence Duffy noted that “Advancing into pre‑construction with world‑class partners reflects the maturity of the project and our focus on disciplined execution.”
The announcement was met with a strong positive reaction from investors, reflecting optimism about HUB’s expansion into the mining sector and the potential upside of a new, diversified revenue source.
While the Tivani integration represents a promising development, HUB’s underlying financial challenges remain. The company’s ability to convert this strategic move into sustained profitability will depend on execution, cost control, and the successful monetization of its Trust Infrastructure in the mining environment.
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