Advance United: Taking the Mining Industry into the Platform Economy
Advance United: Taking the Mining Industry
into the Platform Economy
Toronto, Ontario--(Newsfile Corp. - May 17, 2022) - Advance United Holdings Inc. (CSE: AUHI) (FSE:
9I0) (the "Company", or "Advance United" or "AU") announces that on April 25, 2022, Jim Atkinson,
Chief Executive Officer and Kevin Glendenning, Chief Technology Officer, of the Company were
interviewed by Business Television
.
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"We are a mining company that doesn't mine" is an audacious declaration for the CEO of a junior mining
company to make off the top of an interview. But that's precisely
Advance United Holdings'
(CSE: AUHI)
strategy.
Helmed by CEO Jim Atkinson, Advance United is looking to shake up the status quo and disrupt the
mining business - by not doing any mining of their own. The company's strategic vision is to drag the
mining industry into the 21st century "platform economy", with an artificial intelligence-driven online
marketplace designed to bridge the gap between property owners of mineral commodities and
deposits, and developers and producers looking to acquire new projects.
"We are a platform company connecting property owners with buyers," continues Atkinson, a five-
decade veteran of mineral exploration and mining, including stints at majors like BHP, Agnico Eagle,
and Newmont, "We're not dissimilar to Airbnb, the largest hotelier who doesn't own any rooms, or Uber,
the largest taxi company which doesn't own any cars. That's why we think we'll be disruptive because that
doesn't exist in the mining industry."
Advance United's main endeavor is the AU Marketplace, an online platform for gold and precious metal
properties, currently at the beta testing stage. Atkinson says that the company is looking for abandoned
or orphaned properties to populate the marketplace.
Properties that may have been abandoned 30 or 40 years ago when the price of gold was less than
$400 per ounce and developing them at the time would have been economically unviable. With gold
prices surging to $2,000 per ounce, those properties are becoming economical and desirable once
again. According to Atkinson, the company has reviewed between 50 and 60 properties to list in just the
last half-year, so they know there is a sizable market for the platform.
The orphaned projects generally face one of two problems: they're either older properties where the data
related to what's under the ground is not in a modern digital format; or the potential sellers of these
properties don't have sufficient funds to modernize the data that they do have. That's where Advance
United comes in, says Atkinson, "We do have the funds. By forming partnerships or joint ventures, we
can help these property owners get their property to the point where it is now modern and attractive to a
larger or mid-tier company." Advance United leverages their team's extensive gold exploration
experience with modern exploration techniques, and advanced technology to help unlock the hidden
value of the properties.
Figure 1
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When deciding which undervalued properties to list on the AU Marketplace, the company employs the
same strict set of criteria they've used to develop their own portfolio of assets. The properties must have
historical gold resources (or other precious metals like silver, platinum, or palladium), and there must be
enough potential for a new buyer to expand the resource that's already there. So, when a potential buyer
enters the marketplace, they can be assured of a property that has possible economic value for them.
To drive the company's technology operations and innovation, Advance United has brought in IT veteran
Kevin Glendenning as Chief Technology Officer. With 15 years of tech leadership experience,
Glendenning is tasked with turning the AU Marketplace into a world-class technology platform. He
explains how the company will use AI to achieve their goals, "Rather than just a simple listing of
properties, the AU Marketplace is going to use custom built artificial intelligence to process the big data.
It's going to qualify incoming leads to streamline the process for property owners, investors, and
developers."
Advance United will use Free and Open Source Software (FOSS), including geostatistical, visualization,
and modeling tools to enhance the AU Marketplace listings without the need of additional investment.
Glendenning has been president of Statnix Inc., a Canadian Linux and open-source solutions provider
since 2008 and is an outspoken proponent of open source technology and open access to information.
"Examples of open source dominating the market are everywhere," he explains, "and these are the tools
we are integrating with our marketplace. For example, on a page where you might find just a list of
properties, we're able to integrate geostatistical and visualization features right there on the page without
having to break out into another piece of software." Advance United will be giving back to the open-
source community by contributing their advancements back upstream so that others can benefit from it.
When it comes to generating revenue, Advance United has two streams: The AU Marketplace itself,
which will operate much like successful tech platforms like Airbnb or Amazon, with Advance United
making money as the middle broker between buyers and the sellers; and the second revenue stream
from advancing their own portfolio of gold-bearing properties, which helps to backstop the company's net
asset value.
Most recently, Advance United signed a non-binding term sheet with Carolina Gold Resources, Inc, with
plans to acquire the Rattlesnake Gold Deposit in South Carolina's Carolina Slate Belt, a project with a
historical gold resource of over 42,000 ounces. If the deal goes through, it will add to Advance United's
impressive collection of past-producing, and promising gold exploration projects, including their principal
exploration project, the Doyle Property near Wawa, Ontario.
Where Advance United and CEO Jim Atkinson are really blazing trails is with AU Marketplace. "The
mining business has been sleepy for way too long. We want investors who are interested in a company
that's going to be shaking up the mining business. And that's what our goal is."
If Advance United's marketplace takes off, they will upend the mining industry without having put a single
shovel in the ground.
For more information on
Advance United Holdings Inc.
(CSE: AUHI) please click the request investor
info button.
FULL DISCLOSURE: Advance United Holdings Inc. is a client of BTV-Business Television. This article
does not constitute investment advice. Each reader is encouraged to consult with his or her individual
financial professional. Any action taken as a result of reading information here is the reader's sole
responsibility.
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Contact Information
James Atkinson, P. Geo., CEO
Email:
Tel: (647) 278-7502
Forward-Looking Information and Cautionary Statements
This news release may contain "forward-looking information" within the meaning of applicable securities
laws relating to the trading of the Company's securities and the focus of the Company's business. Any
such forward-looking statements may be identified by words such as "expects", "anticipates", "intends",
"contemplates", "believes", "projects", "plans" and similar expressions. Forward-looking statements in
this news release include statements regarding the Company's ability to increase the value of its current
and future mineral exploration properties and, in connection therewith, any long-term shareholder value,
the Company's ability to mitigate or eliminate exploration risk, and the Company's intention to develop a
portfolio of historic gold properties. Readers are cautioned not to place undue reliance on forward-
looking statements. These statements should not be read as guarantees of future performance or
results. Such statements involve known and unknown risks, uncertainties, and other factors that may
cause actual results, performance, or achievements to be materially different from those implied by such
statements. Although such statements are based on management's reasonable assumptions, there can
be no assurance that the Company will continue its business as described above. Readers are
encouraged to refer to the Company's annual and quarterly management's discussion and analysis and
other periodic filings made by the Company with the Canadian securities regulatory authorities under the
Company's profile on SEDAR at
www.sedar.com
. The Company assumes no responsibility to update or
revise forward-looking information to reflect new events or circumstances or actual results unless
required by applicable law.
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