Golden Star Resource Corp. (OTC: GLNS)

GOLDEN STAR RESOURCE CORPORATION is a start up exploration stage corporation engaged in the search for gold ore bodies. The company has not yet commenced mining activities and does not generate any revenue from its operations. Its primary objective is to locate a mineralized deposit containing sufficient gold to justify extraction and subsequent sale. To achieve this goal the firm has not yet selected a consultant to evaluate its properties and has not engaged in any research and development efforts. The company states that it strives to comply with all applicable environmental health and safety laws and regulations as part of its operational approach.

The company does not currently generate revenue because it has not discovered or extracted any marketable minerals. It anticipates that future revenue will arise from the sale of gold once it identifies an economically viable ore body, completes extraction, and sells the produced metal. The filing indicates that the company has raised $107,060 through a completed public offering, and has issued 7,070,000 shares of common stock since inception. Related party financing has provided additional funds, including an unsecured non interest bearing loan from a principal shareholder’s company, and a director of the company. To continue its exploration program the firm may need to obtain further capital through an additional public offering, a private placement, or loans, although no specific plans for such financing are currently in place.

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GOLDEN STAR RESOURCE CORPORATION operates within the competitive gold exploration sector where it faces competition from large established mining companies, and numerous junior exploration firms. The company’s limited financial resources, and lack of operating history place it at a disadvantage relative to better capitalized peers. It emphasizes adherence to environmental health and safety regulations as part of its approach to conducting exploration activities. The company acknowledges that it will require additional financing to advance its exploration program, and to cover general and administrative expenses. The filing does not provide details on specific competitive advantages beyond its focus on regulatory compliance, and its status as an early stage explorer.

The company does not currently serve any customers because it has not yet produced any marketable product. Upon successful extraction of gold it anticipates selling the metal to buyers of precious metals. The filing does not disclose the names of any prospective customers, or the specific types of buyers it expects to serve. The company anticipates that its future customers will include entities involved in the gold supply chain.