Through its operating subsidiary ESM Refiners (ESM), Casey Corp. 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 the refined gold value.
By leveraging its extensive knowledge of the gold market and strategically investing in new initiatives, the company plans to increase its coverage of the supply chain for greater revenues and profitability. The first phase of expansion consists of establishing an independent refining facility. The second phase consists of developing its online business to purchase gold items directly from the original owners.
By being a fully integrated vertical operator, ESM will retain the full profit of the gold jewelry recycling process. The company’s management team is confident that the availability of investment will support heavy marketing and promotional activity, enabling the company to become one of the leading players in the market.
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