from The Daily Bell:
Mexico’s 84-Year-Old Mining Mogul Just Made a Cool $2.2 Billion … Alberto Bailleres saw his net worth swell as Penoles rallied … Miner Penoles is the world’s biggest silver producer … – Bloomberg
When miners move, they move hard and fast.
That’s what happened toward the end of the 1970s and it is happening today as well.
The interrupted upwards curve of metals prices against the dollar has resumed.
The manipulations have seemingly ceased for the moment. (See previous metals articles.)
Perhaps the Chinese are buying.
Having bought long ago, Alberto Bailleres has certainly made money.
Alberto Bailleres. The 84-year-old Mexican mogul, who controls silver and gold miners Industrias Penoles SAB and Fresnillo Plc, saw his net worth swell by $2.2 billion in June to $13.1 billion, more than any other magnate in the world, according to the Bloomberg’s Billionaires Index.
Penoles is Mexico’s top-performing stock this year and Fresnillo is London’s big winner as investors flock to precious metals.
Bailleres owns silver miners. We don’t own any but we’ve been publicizing one in articles – especially since silver and gold began blasting upwards.
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