In the lead up to this week’s The Insider: Meet the Fund Manager, Joe Webb from Mine Discovery Fund Pty Ltd sat down with Reach Markets to provide a bit of information about his investment strategy, industries of interest and view on the market.

The Mine Discovery Fund (MDF) is a company at the forefront of discovering Tier 1 metals deposits. The MDF’s expert geological advisory board is responsible for some of the biggest discoveries in the world. The team uses AI-driven proprietary algorithms that incorporate machine learning for big data processing to identify high priority targets.

Joe has over 20 years of executive management experience in the resources and manufacturing industries both in Australia and overseas. He cut his teeth at mining giants such as Rio Tinto and Mineralogy. 

The MDF is focused primarily on the commodities needed to decarbonise the world, with copper being the main target. They are also chasing nickel and zinc, and are particularly fond of gold as a hedge as well.

The severe copper supply crunch that is forecast to really hit a bit later in the decade is something Joe believes the market will shortly start to take more seriously. While he acknowledges that China’s speed of recovery will have a lot to do with electrification commodity’s price movements over the next 12-24 months, he sees longer term demand trends for renewable energy and electric vehicles shaping the bigger picture. 

Joe is responsible for Felix Gold’s (ASX: FXG) Alaskan NW Array project acquisition right next door to the Kinross owned Fort Knox mine, where just earlier this week they hit another intercept of 100.5m @ 1.14g/t Au from 21.3m, including 47m @ 1.7g/t Au from 38.1m. Another assay from the recently completed drilling program includes 70.1m @ 1.6g/t Au from 6.1m, including 7.6m @ 6.4g/t Au from 21.3m.

The project has a JORC exploration target of up to 3.6Moz. Felix is aiming to delineate a maiden resource during Q4 this year after 2022’s exploration success, which included 90m @ 1.2g/t Au from 32m, including 60m @ 1.6g/t Au from 42m.

When it comes to copper, Joe believes there are opportunities in both smaller high grade deposits as well as larger low grade deposits. He has a particular affinity to massive porphyry style deposits, which form some of the biggest mines in the world. It is this type of resource that he’s chasing with the latest MDF discovery, Wiseman Metals.

Also in Alaska, Wiseman East is 1,375km² and has multiple mineralised trends between 5km-12km long. The company has drilled 4 exploration holes that have all intersected extensive mineralisation which is near surface, with insignificant patches of overburden. All holes end in mineralisation and are open in all directions. A standout assay achieved has been 12.2m @ 0.7% Cu, 7.6 g/t Ag, and 0.37 ppm Au. Across two of the holes, one of which extends up to 45m in width, there are 3 instances of 1.5m intercepts that are above 1% Cu. Wiseman has also collected a litany of rock chip samples across the project with results up to 25.3% Cu, 0.33 g/t Au, and 44.7g/t Ag.

Joe has a true appreciation for the sophisticated exploration work that forms the heart and soul of the mining industry. The level of intricacy he is able to implement into his methods of discovery, which is a critical result of the expert team of geological advisers he assembled for MDF – is exactly what makes his operation so interesting to hear about.

Join Joe Webb this Friday, 7th of July at 12pm (AEST) on our The Insider: Meet the Fund Manager webcast to hear about his favourite stocks, investment strategy, market insights and more. There will also be an opportunity to ask questions during the session. To book yourself in, click here.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Felix Gold Ltd and may receive fees for its services.

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