Article in Forbes Magazine:
Exploratory gold stocks are the lottery tickets of the stock world. If the company happens to strike it rich with a mine that has a viable level of gold to be extracted, shareholders gain too. Most times, however, exploratory companies don’t amount to much. We don’t know which camp Casablanca Mining will fall into, but for Juan Carlos Camus Villegas, owning 41% of the company is already the equivalent of hitting the PowerBall. A 40-year veteran of the scrap metal business in his native Chile, Villegas gained control of Casablanca in January as poart of deal for the company to purchase a potentially valuable mine he owned in Chile. His stake is worth $137.2 million thanks to a $38.3 million gain in the stock market this week, driven by a jump in the very thinly traded shares from $5.50 to $8.
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