I was just made aware of this stock this morning from Jonathan Lebed's alert.
CaseyCorp Enterprises, Inc. (CCPR) is a gold company that is currently $0.36 with 45 million shares outstanding and a market cap of $16.2 million, when the company generated revenues during the past twelve months of $63.64 million! CCPR's trailing price/sales ratio is an unbelievably low 0.25!
During its most recent nine months, CCPR's revenues were $34,758,074 up 40% from $24,875,458 in revenues during the same year ago nine month period.
CCPR just announced this morning that during the month of November this year, CCPR purchased scrap gold in excess of $3.5 million!
CCPR has three main sources of gold: online business, outside aggregators and in-house aggregator.
CCPR's business operates with a quality, user friendly web site through which owners request a special package which is used to send in their gold jewelry to CCPR for assessment.
Any time you want to sell gold jewelry, coins, gold grills, gold statues, scrap dental gold, silver, platinum and gold brooches and pins or even scrap gold, CCPR will buy your gold from you. CCPR recycles a wide variety of items from engagement rings to gold statues.
CCPR is the owner of ESM Refiners, Inc. (ESM), a wholesale buyer and seller of gold and diamonds, which it purchased on May 14, 2009. CCPR acts as a middleman aggregating the gold, diamonds and other precious metals, which are purchased primarily from retail jewelers (who have purchased the products from customers) and selling it to refiners at a mark up ranging from .75% to 1.1%.
On May 14, 2009, ESM entered into an exclusive purchasing agreement with Ed & Serge Gold and Diamond, Inc. (ESGD). Under the agreement, ESGD has agreed not to sell any gold and diamonds to any other party other than ESM. Under the agreement, ESGD has agreed to invoice CCPR at cost plus .05% on daily sales of up to $250,000 and .025% of daily sales over on amounts over $250,000. The agreement is for five years and automatically renews for additional one year periods unless notified by either party.
CCPR also owns EZSellGold.com, Inc., a company engaged in the business of purchasing gold and diamonds from consumers, which it purchased on October 2, 2009.
According to CCPR's President and CEO, Mr. Eduard Musheyev, "As gold prices continue to increase, we are seeing a growing trend of people selling off their old jewelry."
Musheyev has over 30 years of experience in the gold jewelry market. During this time, Musheyev has established and managed successful companies involved in manufacturing, retailing, and refining of gold jewelry.
CCPR just announced this week that they are going to be expanding into Western Europe and are aggressively seeking out potential strategic partners throughout Western European countries to assist in buying scrap gold from local dealers and from the general public!
CCPR has a huge cash position of $688,089 and almost no debt! (their total debt is only $4,500).