Tip by Tom Winnifrith on investment website T1PS.com on 07.10.04 :
"In the mining world, Caledon Resources raced ahead by 0.75p to 5.125p after website t1ps.com upgraded its stance from "hold" to "strong speculative buy." Last time this website tipped Caledon the shares more than trebled in three months before members were advised to sell half their holdings so guaranteeing a three figure return. The website argues that the risk/reward trade-off now looks more attractive than ever and suggests that corporate activity within the subsector (Chinese gold explorers) is about to explode"
http://www.caledonresources.com//
Trades over 300,000 Shares are delayed in reporting by 1 Hour.


On fundamentals ALL exploration companies without resources can be said to be overpriced. The only assets they have which can have a hard-and-fast value assigned to them are their bank balances.
People invest in explorers because they believe that the projects/management/geo team have the potential to develop valuable mineral deposits. The share price usually reflects the market's opinion about this potential.
In the fulness of time, if Caledon discover deposits which can be proved up to contain a couple of million ounces, those that bought at 5p or even 15p will be seen to have been correct (or fortunate!) in their assessment of risk/reward.
Some details below from the recent WHI broker note on Palladex, I am not suggesting for a moment that anyone go buy Palladex this is just for comparative data where you will see the value of a company compared to it's in-situ gold.
Point is where will CDN be once they show one project is as big as they and we hope by giving an estimate by end of 2004 ?

Caledon Overview:
Caledon Resources PLC is a public company listed on the Alternative Investment Market of The London Stock Exchange (trading symbol: "CDN"). Its mission is to become the leading gold exploration company in “The Golden Triangle” of Southern China

Caledon has assembled a multi-talented, technically oriented management team - one of few with in-depth knowledge and experience in China. All members have over 15 years experience in evaluating hundreds of East Asian sediment hosted disseminated gold deposits
Advanced stage gold exploration focussed on under-explored producing gold mines in China - Exploration active on four advanced stage gold projects: Hengxian, Gaolong, Badu and Mojiang
Caledon’s primary focus: Sediment Hosted, Disseminated Gold Deposits (“Carlin-type”). Quoted from the United States Geological Survey (USGS Open-File Report 02–131): “It is likely that many of the Carlin-type Au ore districts in China, when fully developed, could have resource potential comparable to the multi-1,000-tonne Au resource in northernNevada.”

Corporate Summary
Caledon Resources PLC is a public company listed on the Alternative Investment Market of The London Stock Exchange (trading symbol: "CDN") and has been domiciled in the UK since February 2003. The Company’s primary focus is to enhance shareholder value through the opportunistic evaluation of fertile under-explored gold districts, resulting in the exploration, discovery and development of world-class gold ore bodies. The Company is currently focused on project evaluations and exploration for sediment hosted disseminated (“Carlin-type”) gold deposits situated in Southern China, although other styles of mineralisation are being assessed if they have multi-million ounce potential.

Caledon’s principal area of focus is Guangxi Province where it has negotiated joint ventures with The Geological Survey of Guangxi and is in the process of forming additional joint ventures with the Chinese National Gold Corporation.

Caledon has signed a joint venture agreement covering the Longtoushan Gold mine and 350 sq km’s of surrounding tenements in Guangxi Province as well as joint venture agreement covering various exploration areas under the control of The Geological Survey of Guangxi.

In addition, advanced exploration property acquisitions and joint ventures are being evaluated in Guangxi with The Chinese National Guangxi Gold Corporation and other joint ventures are under negotiation in Yunnan and Guizhou Provinces.

In order to exploit this opportunity, Caledon has assembled a team of geologists whose main focus over the past 15 years has been to identify and evaluate gold occurrences and deposits throughout South East Asia on behalf of several major mining companies.

Of the 300 plus gold occurrences and districts identified and screened over the years by Caledon’s team, five distinct gold districts have emerged as top-priority ranked targets, based on their geological similarities with the multi-million ounce gold districts found in the State of Nevada, U.S.A (“Carlin-districts”). The USGS has identified the so called “Golden Triangle”, consisting of the provinces in which the Company is focused (Guangxi, Guizhou and Yunna), as having similar style mineralisation to the Carlin deposits in Nevada.

To date, five highly ranked areas in Guangxi Province have been identified by Caledon’s team. Applications for mineral titles have been submitted on all five districts and joint ventures are being negotiated where applicable.

Recognising the need for foreign mining investment, in parallel with China’s entry into the World Trade Organisation, the country has adopted a number of sweeping changes that have recently been enacted in their mining legislation. In the country’s bid to attract foreign investment and mend the fractured structure of their mining industry, the Chinese government, through powers delegated to the provinces, allows foreign ownership of up to 90% in mineral titles and producing gold assets. In addition, various tax incentives exist to help foreign gold explorers and producers.

Perhaps the most relevant change recently enacted in China, involves the evolution towards complete transparency within the Chinese gold markets. Companies can now buy and sell gold on the Shanghai Gold Exchange, which quotes gold prices in line with the London Gold Fix rates. Additional mechanisms are currently in place to allow for repatriation of profits from Chinese-based, foreign-operated gold mining operations. Further enhancements are expected within the year.

The group now has all of the key primary ingredients in place in order to position the group for maximum returns.

Those key ingredients are:

highly experienced, South East Asia based technical management with proven exploration abilities,
acquisition / title lock on a number of properties hosting potential multi-million ounce disseminated gold deposits, and
an appropriate amount of financing in place allowing the group to conduct a meaningful first-pass exploration program within these districts.
Given the sweeping changes that China’s mining law has recently undergone, Caledon is well positioned to maximise gold exploration opportunities that exist in the country.

It is likely that many of the Carlin-type Au ore districts in China, when fully developed, could have resource potential comparable to the multi-1,000-tonne Au resource in northern Nevada.”

These are not my words, but the words of the US Geographical Survey or the (USGS). To read there full report on Carlin Deposits you need to go to the link -
http://geopubs.wr.usgs.gov/open-file/of02-131/OF02-131.pdf

The Projects
Hengxian Gold Mine - The Hengxian project is a classic example of a sediment
hosted disseminated gold system ("Carlin-type"), with considerable exploration
potential. At Hengxian, gold is being mined in a north-east trending zone
measuring up to 3 kilometres long and up to 800 metres wide. Gold occurs in
steeply dipping, high grade feeder structures (> 4.5 g/t gold avg.), feeding
flat-lying moderate grade (1-4 g/t avg.) stratiform zones. To date, at least
four sub parallel feeder structures have been defined. The gold mineralisation
occurs on a major regional structure that can be traced for more than ten
kilometres away from the existing workings. Access and infrastructure in the
area is excellent - Hengxian is a two hours drive from Caledon's office base
situated in the Guangxi Provincial capital, Nanning.

Previous exploration has been almost entirely focused on shallow oxide zones.
Gold resources at Hengxian are reported to be 310,000 ounces (Inferred category)
grading approximately 4.6 g/t gold - with those resources having been defined by
only a limited amount of shallow focused drilling, concentrated on the surface
oxide zones (0-60 m depth). Exploration to date has only been focused on a small
- 2.5 kilometre long - portion of the entire 10 kilometre long structure,
initiated on obvious outcropping oxidised sulphides.

Summary results from drilling conducted on Hengxian Hill by Caledon's minority
partners, Taifu Mining, defining the near surface limits of the deposit, include
the following:

Section Hole Number Depth (m) Intercept (m) Grade g/t Au
44 ZK 14 13 50.6 2.02
435 ZK 4351 25 10.1 8.0
ZK 4351 49 14.5 5.03
43 ZK 432 45 41.4 6.44
ZK 5 49 31.0 8.8
ZK 19 102 27.0 4.0
425 ZK 251 50 42.5 3.91
ZK 4255 103 29.1 6.93
ZK 4252 72 12.8 6.16
ZK 4252 90 18.6 4.02
415 ZK 152 42 20.7 3.0
ZK153 65 13.9 4.68
41 ZK 16 10 11.1 3.79
ZK 411 33 24.6 4.0

Intervals between known areas of higher grade mineralisation carry significant
disseminated gold mineralisation, typical of such gold deposits. For example,
drill hole ZK19 reported a 27 metre wide interval grading 4.0 g/t gold,
occurring within a much wider down-hole interval reporting a width of 133 metres
grading 3.24 g/t Au.

Gaolong Gold Mine - Gold has been actively mined at Gaolong by Caledon's
minority partners, Guangxi Tianlin Gaolong Gold Mine Ltd Co for over 10 years.
At Gaolong, surface and limited underground mining can be traced in a
semi-continuous manner over a strike length in excess of three kilometres, with
mining widths averaging 10 to 30 m, to a maximum of 60 m wide.

The Gaolong mine itself is ranked in the top two gold producers in the province
and has been cited by the United States Geological Survey (USGS) as having
distinct similarities to the 15+ million ounce Betze ore body situated in
Northern Nevada, USA (USGS OP 02-131).
Results from past drilling performed at shallow depths immediately adjacent to
zones being mined by the Chinese at Gaolong, are a testament to the bulk minable
nature of the Gaolong ore bodies themselves (i.e. Section #30 - 4.1 g/t over
10.8 m, 3.2 g/t over 33.4 m, 4.7 g/t / 31.3 m). The immediate extensions of
these open-ended zones will form the focus of gold exploration to be undertaken
in 2004.
In the 4th Quarter, 2003, Caledon reported results from a preliminary channel
sampling program at Gaolong, as part of the effort to identify drill targets on
the project. The following is a summary of results from this initiative:

Channel # Sampled Width Gold Grade
Channel 1 44 meters 2.5 g/t
Channel 2 10 meters 3.9 g/t
Channel 3 14 meters 2.4 g/t
Channel 4 28 meters 2.7 g/t
Channel 5 22 meters 2.3 g/t
Channel 6 12 meters 3.3 g/t

Badu Gold Mine - Small scale mining is in progress at the Badu Mine, situated 12
kilometres North East of the Gaolong mine. The Badu mining and exploration
tenements are included within the Gaolong master agreement. The GTGGML's
open-pit mining operations at Badu can be traced in a semi-continuous manner for
over four kilometres along strike, with mining widths averaging 20 to 40 m. Gold
is recovered in the heap leaching of oxide ores, with average head grades of 1
to 2 g/t gold. Caledon is aware of only 1-2 shallow drill holes having being
completed over the entire four kilometre strike length.

Mojiang Gold Mine - A letter of intent has been signed regarding Mojiang Gold
mine. Active mining has been underway at Mojiang since the late 1970s by the
Mojiang Mining Limited Company. The mining at Mojiang was based on reserves of
32 tonnes of gold (>900,000 oz) at a grade of 4-6 g/t Au. At present, the
majority of the gold mining operation is focused on gold production from open
pits and underground mining, with plant head grades consistently reporting above
4 g/t gold. To date, approximately 70% of the initial reserves have been mined.
At Mojiang, individual veins, averaging up to 12 metres wide, have been shown to
host grades in excess of 15 g/t. Individual veins sometimes exhibit bonanza
grades (in-excess of 30 g/t gold), typical of such systems. The veins are hosted
in sediments and acid volcanics, near the contact between thrusted Cambrian
sediments and metamorphosed ultra-mafic volcanics belonging to a regional scale
ophiolite complex, within the Red River Suture Zone.
Examples of diamond drill intercepts at Mojiang highlighted from the earlier
Chinese work include:

Section # Drill Hole Mineralised Intercept
Section 50 DDHZ50-6 41.62m @ 3.34 g/t
Section 51 DDHZ51-16 28.22m @ 4.89g/t
Section 52 DDHZ52-10 53.98m @ 2.72g/t
Section 40 DDHZ93-1 7.93m @ 13.67g/t
Section 40 DDHZ93-1A 8.39m @ 9.00g/t
Section 40 DDHZ94-3 12.35m @ 15.05g/t

Contact Information
London Office
18 Upper Brook Street
London W1K 7PU
United Kingdom
Tel: + 44 20 7318 5780
Fax: + 44 20 7318 5781
Stephen Dattels - Chairman
sdattels@caledonresources.com

Donal Douglas - Deputy Chairman
ddouglas@caledonresources.com
George Salamis - Managing Director
gsalamis@caledonresources.com
Manish Kotecha - Company Secretary
mkotecha@caledonresources.com

What a start to August, probable a good chance to top up.

U were right Sue Helen, the price has been corrected, and even go up a bit. I noticed there was a MM dealing at 4.25.

Re : my post yesterday, the price is now inside the Bollinger Bands with the correction in the price today.

Could anyone please give me some advice? I have 600 worth of CDN which I bought a while back at 9p, should I cut my losses and sell or just hang on and hope for the best? is there a danger this company will fold? and finally if hold is the order of the day, at what price should I sell? and how long will it be before something moves? if it does, thankyou for any help you may be able to give me.

Recovered yesterday's error in the price and up even more today now at 4.50-5.00 pence, up 31.00%.

Montana Blue, hang on to these.

Thankyou for your reply Sue, I will hold.

Up 35.00% now at 4.75-5.00 pence, very good buying reported with it being nearly all buys today. The 200,000 trade at 4.38 pence is a buy as it was delayed in reporting by 1 hour along with the 200,000 trade at 4.50 pence which is also a buy.

Profit takers move in. Price 4.50-4.75 pence. Nice to see the volume returning today as they had been barely any volume over the last ten trading days.

from Money AM

Notable LEADERS today include Caledon Resources, ahead 27.5% at 4.625p on speculative buying ahead of an anticipated drilling update.

SueHelen, One more little question please re CDN, would it be prudent to buy another 500 worth while they are so low? taking into consideration that I bought 600 worth at 9p to try and even up the price a little or buy into some other share and leave CDN alone as I am at such a loss at the moment,thankyou for your much needed advice,

M. B.
P.S. If the answer is yes buy some more, at what price limit should I buy? and how far do you expect the shares to go?

Hi Sue what are your thoughts on all the buying today, and we are no better of than we were at 16:22 on Monday

Press mention : in today's Guardian Newspaper

AIM-listed Caledon Resources jumped 27% on talk that the mining group has a major joint venture in China up its sleeve.

Traders said talk the company might need to raise cash is untrue as its has just under 1m in the bank and a further 2m is headed its way after its placing with mining merchant bank Golden China in June. The shares rose 1p to 4.625p.

http://www.guardian.co.uk/business/story/0,3604,1275382,00.html

RNS Number:7692B
Caledon Resources PLC
09 August 2004



18 Upper Brook Street. * London W1K 7PU * England
Telephone +44 (0) 20 7318 5780 Facsimile +44 (0) 20 7318 5781

PRESS RELEASE

Project Portfolio Additions: Caledon Resources Completes Two New Deal Agreements
in China

Caledon Resources PLC ("Caledon") is pleased to announce that it has signed a
Cooperative Joint Venture ("CJV") agreement with China's Chenghua Industrial
Corporation Limited ("Chenghua"). Based in Beijing, Chenghua is a large
industrial group with diverse ownership interests in several sectors including
mining, chemical production and property development. Chenghua has access to
over twenty advanced exploration and mining projects throughout China. These
projects are the subject of the CJV on which Caledon's team is currently
conducting due diligence and evaluation work.

Under the terms of the agreement, Caledon has a right to 80% of the CJV with
Chenghua retaining a 20% interest, of which 10% is contributing. Once finalised,
the company holding the rights to the CJV will explore on defined projects
introduced by Chenghua.

Caledon has also increased its exposure in Guangxi's "Golden Triangle" region
with the signing of a Letter of Intent to explore 60 square kilometres of
exploration and mining tenements in the region's Baise area. The Baise area
project, situated in northwestern Guangxi province, was identified by Caledon
geologists as having strong similarities to other disseminated gold projects in
the region. Samples taken by Caledon exploration teams, as part of the
preliminary due diligence, have consistently graded in the 2 to 5 g/t gold
range. Previous small scale miners have reportedly encountered and mined gold
grades in excess of 50 g/t from several tenements in the region. To Caledon's
knowledge, the project area has never been drilled.

In the meantime, drilling at Caledon's Badu Gold project is proceeding on
schedule with six out of a scheduled twenty plus holes completed to date.
Samples from a number of the holes were recently prepared and shipped off to
laboratories in Australia for gold analysis. In addition, a second multi-purpose
drill rig, capable of drilling diamond core and reverse circulation, is being
shipped to southern China to join the exploration effort on Caledon's other gold
projects.

George Salamis, Managing Director of Caledon Resources reports: "Senior
management of Chenghua are highly experienced, key players in China's mineral
industry. Caledon's alliance with this group is an additional step in becoming
one of the lead players in China's resurging mineral exploration industry". Mr.
Salamis adds: "We are also extremely encouraged by the prospect of future gold
discoveries at Caledon's latest project acquisitions in the Baise area of
Guangxi. Our field geologists are very encouraged by the preliminary results
from the initial due diligence program which mapped what is reportedly one of
the largest gold related hydrothermal alteration systems in the region".

On behalf of the board:


Stephen R Dattels George Salamis
Executive Chairman Managing Director

Caledon Resources Plc is a junior metals explorer quoted on the Alternative
Investment Market of the London Stock Exchange (AIM: "CDN"). The company has
amassed a portfolio of four advanced stage gold exploration projects situated in
Southern China's "Golden Triangle" region. All sites are actively being mined by
the company's Chinese partners on a small scale, in geological settings
typically associated with disseminated, multi-million ounce ore bodies.
Management believes that the potential for discovery remains high in the
immediate vicinity of the small scale mining, through the application of Western
exploration techniques and philosophies.

For further information, please visit our website at www.caledonresources.com or
contact:

Stephen R Dattels
sdattels@caledonresources.com
George Salamis
gsalamis@caledonresources.com

Donal Douglas, Investor Relations
ddouglas@caledonresources.com



This information is provided by RNS
The company news service from the London Stock Exchange

END
JVEPLMTTMMIMBAI

Price up 11.43% at 4.50-5.25 pence on back of the above news release which was made five minutes ago.

AFX release :

Caledon Resources signs 2 new deals in China

LONDON (AFX) - Caledon Resources PLC said it signed two new agreements in
China, adding to its project portfolio.
The deals comprise a cooperative joint venture with Chenghua Industrial Corp
Ltd and an exploration agreement in Guangxi's "Golden Triangle".
Chenghua has access to over 20 advanced exploration and mining projects
throughout China, which are all part of the venture deal. Caledon's team is
currently conducting due diligence and evaluation work.
Caledon has a right to 80 pct of the venture with Chenghua retaining 20 pct,
of which 10 pct is contributing.
The company has also signed a letter of intent to explore 60 square
kilometres of exploration and mining tenements in the Baise area of the Golden
Triangle. Caledon said the area has "strong similarities" to other disseminated
gold projects in the region.
Caledon managing director George Salamis said: "We are (...) extremely
encouraged by the prospect of future gold discoveries at Caledon's latest
project acquisitions in the Baise area of Guangxi. Our field geologists are very
encouraged by the preliminary results from the initial due diligence program
which mapped what is reportedly one of the largest gold related hydrothermal
alteration systems in the region."
Turning to its Badu gold project, Caledon said drilling is proceeding on
schedule and that samples have been sent to Australia for gold analysis.
newsdesk@afxnews.com
ak/

Good buying reported today...spread quite tight as well at 4.75-5.00 pence. Wish they would hurry up with the Golden China RNS now as we have had three good news releases in the last four weeks.

Would the 4.87 and 4.88 this morning be buys Sue?

Yes John, they are indeed. The 200,000 at 4.88 pence originally went through at 09.29 when the price was 4.50-5.00 pence and reported one hour later hence it is a buy. You can always check by using your online broker by doing dummy buy and sell quotes.

could some one work out the sales and buys today please. I noticed a delayed trade for 1/2mio shares at 5p Sue any views??

Hi Xmortal, there were actually 2*500K trades in that one at 4.95 pence and one at 5.00 pence. They were rollover trades which doesn't affect the price. The first one went through at 4.95 pence and then a few seconds later the other one went through at 5.00 pence. Though someone out there is holding 500,000 shares at 5.00 pence. I think all the trades above 4.85 pence and including were buys. There was selling at 4.75 pence as well. The correct closing prices were 4.75-5.00 pence and not the ones which MoneyAM are quoting at the moment.