Casablanca Mining Ltd. (OTCPK:CUAU), formerly went by USD Energy Corp. until February 2011 and is based in Santee, California. This company engages in exploration and development of precious metals. The primary ones are gold, copper, and copper sulfate. The gold and copper are mined in Chile. All of the mining in Chile is done through its subsidiary company, Santa Teresa Minerals. CUAU owns the rights to a gold mine in Free Gold, the Casuto Project, and the Los Pinos Project. There are 30 properties in these projects. The rights are also owned to a process called electromining which is patented. Electromining extracts the metals from raw mining materials.
In February 2012, Santa Teresa Minerals sold its 60% interest in Sulfatos Chile to Bluestone S.A.
Santa Teresa Minerals operates a gold mine in the Marga wash area of Quilpue, Chile. Santa Teresa Minerals increased the ownership position from 60% to 99.9% through an acquisition from Mario Oscar Comas San Martin in June 2011. The remaining 0.1% interest of Sociedad Contractual Free Gold is owned by Juan Carlos Camus.
Santa Teresa Minerals owns a gold mine in Rancagua, Chile and owns 70%. The mining property includes 300 hectares called, Los Pinos 1-30 and 100 hectares called Teresita 1-20. Santa Teresa Minerals acquired the property in the Los Pinos Project in June 2011.
CUAU is currently trading at $ .99. The previous close was for $.84. Over the past 52 weeks, this company has seen a low trade of $.051 and a high of up to $2.40. The company's market cap is at $59.06M.
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Juan Carlos Camus Villegas
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.