A rejection means that I don’t think the piece is ready to be sent to an agent, or published. I’ll have explained why in the critique that follows.
A gold star means that I think the piece is good enough to submit, or publish, with very little amendment. There are no guarantees, of course!
A silver star means that I think the piece is very good, but there are one or two problems that might be easily fixed before it is ready to be submitted.