After finding CUL @ 4.6c, i have been looking around for another such company with potential, & found this diversified company that i also picked in the ASX 2007 comp.

Like CUL (Cullen Resources) - it has multiple projects (mostly free carried to 30-40%, JV's), over several different metals.

[u]Stellar Resources Ltd - Current Projects</u>:

* Base Metals
Stellar is exploring in three states for base metals deposits.

In NSW, aroung the Broken Hill region Stellar is actively exploring for zinc and copper at Goldfinger, Copper Blow and Panama.

In SA, the area around Tarcoola, Stellar is exploring for for zinc in the Tarcoola Basin.

On the west coast Tasmania, Stellar is evaluating the Alpine copper deposit, zinc and copper around Arthur Dam and for nickel at Devizes & Dundas (considered prospective for Avebury style nickel). The North Heemskirk tinfield has advanced projects, including St Dizier.

* Uranium
Stellar Resources conducts its exploration for uranium through two Joint Ventures (JV); both of which are located in the highly prospective Gawler Craton region of South Australia (SA).

In mid 2006, Stellar entered into a JV with UraniumSA Limited (USA) enabling USA to explore on six of Stellar's exploration licenses in the Tarcoola region of the central Gawler Craton.

The previously discovered uranium resource, the Warrior uranium deposit, lies mainly on one of Stellar's tenements. To expedite the evaluation of this resource Stellar has entered into a JV with uranium explorer, Toro Energy Limited (TOE) . Toro may spend more than $3 million in a staged farm-in over four years on exploring the Warrior project tenements which lie immediately north and south of the Toro's Warrior project tenement.

* Gold Projects
Stellar Resources is exploring for Gold in two specific locations.

At North Bendigo, in Victoria, the company is searching in an area interpreted to contain a substantial part of the on strike stratigraphy of the Bendigo goldfield which lies under the Murray Basin sand cover.

At Tarcoola, in South Australia, Stellar is following up the initial encouraging exploration that previous explorers have encountered when exploring around the old Tarcoola Goldfield, which has been mined since the early 1900s.

* IOCG - Iron Oxide Copper Gold
Stellar holds a large ground position in the "South Australian copper belt" searching for iron-oxide-copper-gold style (IOCG) deposits.

Stellar has three main areas for exploration. The Robins Rise JV, west of Prominent Hill; at Pernatty (100%), situated close to the Carrapateena discovery; and Cowell JV which is located on the Eyre Peninsula at the southern end of this key belt. Stellar is championing the application of gravity technology as well as other geophysical techniques, as a method of effectively targeting exploration in these highly prospective areas.

* Iron Ore
Stellar is exploring for iron ore in the Wilgena area around Tarcoola, SA.

[u]Listed Investments:</u>

* UraniumSA (ASX:USA)

Stellar owns 16%, or 10.26m shares & 5.13m options in USA, the Uranium company it spun off a while back. (USA SP @ 27.5c & USAO @ 12.5c).

USA is also looking to spin off "Archer Exploration" (ASX:AXE) - a Copper/Uranium play in the Grawler Craton region in South Australia.

* Gippsland Offshore Petroleum (ASX:GOP)

Stellar owns 6.667m options in GOP with a strike price of 20c by Nov 2009. (GOP current SP = 36c)

Stellar is also looking at spinning off "Columbus Metals", a Tin project located on its Heemskirk EL on the West Coast of Tasmania.

Stellar has 75m shares on issue, @ 27.5c = Market Cap of around $20m.

NB, During the quarter SRZ raised $2.9m making a placement of 8.4m shares @ 35c

Cash on hand @ 30/6/07 of $5.17m

Plenty of drilling outlined in the September quarter...(see link)

http://www.stellarresources.com.au/u.../070041SRL.pdf

I hold having bought in at 27.5c