Tuesday, November 16, 2010

CaseyCorp Enterprises, Inc. (CCPR.OB) is “One to Watch”

Founded in 2007, CaseyCorp Enterprises, Inc., through their subsidiaries, operates as a wholesale buyer and seller of gold, diamonds, and precious metals in the United States. The Company aggregates gold, diamonds, and other precious metals and then sells them to refiners. CaseyCorp Enterprises, Inc. trades on the OTC Bulletin Board. The Company has their headquarters in the heart of the Diamond and Jewelry district in New York City.

Casey Corp. president and CEO, Mr. Eduard Musheyev, has more than 30 years of experience in the gold jewelry market. During this time, he has set up and managed successful companies involved in manufacturing, retailing, and refining gold jewelry.

CaseyCorp Enterprises, Inc. holds 100 percent ownership of ESM Refiners, Inc. The in-house aggregator trades under the name ESM Refiners, Inc. and purchases gold jewelry from a well established customer base of retail stores, pawn shops, and others.

CaseyCorp has three main sources of gold: an online business, outside aggregators, and an in-house aggregator. For the online business the Company reaches their target through a comprehensive range of both online and offline channels. This includes telemarketing, TV, radio, print, and other traditional advertising.

The Company’s business operates with a quality, user friendly website through which owners request a special package which is used to send in their gold jewelry for assessment. There is an extensive back office of more than 150 staff involved in gold checking, telemarketing, refining, and finance which ensures fast processing and optimized customer service.

CaseyCorp derives revenues primarily from the sale of refined gold, produced from the gold jewelry it purchases from private individuals and aggregators. The selling price of the refined gold is determined by quoted market prices.

The business model followed by Casey Corp. aims to eliminate the intermediaries who under the traditional model have taken the majority of the margin. This makes it possible to increase the amounts received by the customers, while still generating a significant margin for the Company. For the aggregator business, jewelry is purchased at standard discounts to the prevailing market price of gold. The business is characterized by high volumes and relatively low margins.

CaseyCorp Enterprises, Inc. appraises in-house. They only use the most experienced and highly trained gold, jewelry, and precious metal appraisers. Their appraisers are certified in their field and utilize the most updated methods of appraisal available. The Company does not outsource or use 3rd parties to perform these tasks.

The Company’s aggregator business started in Q2 2009. They had sales of $44 million in the first nine months. Their kiosk business launched in Q3 of 2009; ten locations launched with cumulative sales of $655,000. Part of the Company’s growth strategy is to build a nationwide chain of kiosks.

Additional business opportunities for CaseyCorp Enterprises, Inc. include setting up a complete refining business. This will give access to higher profit margins and the ability to process for other aggregators. They are also looking to open regional aggregation centers in Arizona and Nevada.

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