World’s richest man Carlos Slim finds golden mining touch

Carlos Slim’s Mexican mining company Frisco (PINK:MFRVF) enjoyed a first-quarter revenue jump of 40% to $260 million on increased gold, silver and copper production.

Gold production increased 30% to 76,980 ounces, silver was up 47% to 1.95 million ounces and copper rose 46% to 3,508 ounces.

Frisco is Slim’s third largest holding behind financial services company Grupo Finaciero Inbursa and telecoms titan America Movil.

Minera Frisco 3 month stock performance

Sources: Bloomberg; Reuters