Casey Corp. (CCPR.OB) is “One to Watch”
Casey Corp., through its operating subsidiary ESM Refiners (ESM), is primarily focused on recycling precious metals, mainly gold. ESM is an aggregator which purchases jewelry and other items containing gold from retail stores and other sources and then sells the jewelry to refineries which in turn melt down the gold and produce gold bars. Traditionally, gold aggregation is a high volume, low margin business. The largest share of the profits, commonly over 60%, remains with the retail store, pawn shop or other party which purchased the gold items from their original owners. On average, the aggregator keeps just 1% of…
