Estrella Gold Corporation (CSRFF)

[chmcnfunds]

Extensive report regarding Estrella Gold by Mickey Fulp.

http://www.goldgeologist.com/update/ma222.pdf

Several quotes:

1) "Estrella Gold Corp meets all my criteria for speculation: Share structure, people, projects, and undervalue with respect to its prospector generator peers. Assuming commodity markets and global economics remain strong, I think Estrella has a very good chance of doubling in 12 months or less."

2) "Estrella’s business plan is to implement a prospect generator/joint venture model in southern Peru and it currently operates two generative exploration programs:

In February it established a strategic alliance with Cliffs Natural Resources to explore for iron oxidecopper-gold deposits. Cliffs is funding the program at a minimum of $400,000 per year for two years. Already the alliance has staked 10 new properties that are held jointly and undergoing initial prospecting and evaluation.
In an independent generative program, Estrella is exploring for epithermal volcanic-hosted gold deposits with targets identified from the proprietary regional data base. In 2010 the company acquired four new properties that are under initial evaluation: Yanque, Sense, Isy, and La Lucha.

There is much more to Estrella Gold than its southern Peru reconnaissance programs. It holds properties that would constitute flagship projects for the average junior and these are or soon will be available for joint-venture"

3) "It has a low number of shares outstanding at 17.3 million, 2.3 million options at 60c to $5.00, 1.63 million out-of-the-money warrants at $1.20 that will expire in September of this year, 4.6 million warrants at strike prices from 60 to 80 cents that expire from November 2011 until July 2012, and 1.3 million at $1.20 that expire in July 2012. Insiders control a healthy 23% of the shares and the retail public float constitutes the remainder, although a significant number of those shares are in 'strong hands'."

CSRFF