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

Just released - should be very significant for the sp, let's see....

Caledon Resources PLC
13 September 2004



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

13 September 2004

Press Release - FURTHER POSITIVE NEWS FROM CHINA

• First Pass Reconnaissance Drill Program Completed at Badu - Positive Results
Received Warranting Second Phase of Drilling

• Reverse Circulation Drill Rig Mobilised to the Gaolong Property

• Mojiang Surface Channel Sampling Completed with Positive Results as a
Precursor to Drilling

• Diamond Drilling to commence at Hengxian


Badu Drill Results - Rig Mobilization to Gaolong
------------------------------------------------

Caledon Resources Plc ('Caledon') is pleased to confirm the completion of the
first pass reconnaissance drilling programme at the Badu gold project situated
in NW Guangxi province. A total of 23 shallow widely spaced reverse circulation
drill-holes were drilled in a variety of structural targets along an identified
controlling structural feature some 3 kilometres long in the Badu area. Of the
23 holes, 4 were abandoned due to poor ground conditions and preliminary assay
results have been received for 17 holes. Results from 2 holes are pending.

The results have confirmed the bulk-mineable disseminated gold potential at Badu
and are consistent with past surface channel sampling conducted by the company
in the same region.

Preliminary gold assays include:

Drillhole Number Downhole Interval Gold Sample Type
(metres) (g/t)
RC Hole 2 12 0.95 4m composite
RC Hole 3 13 4.2 1m sample
RC Hole 5 4 1.89 4m composite
RC Hole 6 13 1.22 1m sample
RC Hole 8 4 1.79 4m composite
RC Hole 16 8 2.14 4m composite

Caledon geologists are pleased with the results. This round of reconnaissance
drilling has amply corroborated the recent surface sampling programme defining
large zones of disseminated gold mineralisation and provides valuable
information from which to justify and plan the second phase of drilling.

The RC drill rig is now in the process of being moved to the nearby Gaolong
tenements to commence a first pass programme on selected target zones. Drilling
is expected to commence at Gaolong in approximately two weeks - a minimum of
2000 metres of drilling is planned.

Mojiang Gold Project, Yunnan
----------------------------

Field mapping and sampling of the Mojiang tenement in Yunnan was recently
completed as a lead-up to a planned drill programme on-site. The results of
continuous rock chip sampling from existing mine workings, covering an area of
400 metres by 300 metres, gave the following significant results. They indicate
a large mineralised gold system.


Channel Number Gold Mineralised Interval
Channel 1 4.64 g/t gold over 24 m
Channel 2 1.10 g/t gold over 36 m
Channel 3 2.18 g/t gold over 26 m
Channel 4 1.33 g/t gold over 50 m
Channel 5 1.71 g/t gold over 22 m
Channel 6 1.67 g/t gold over 22 m
Channel 7 7.75 g/t gold over 2.0 m


The Mojiang gold zone occurs over a strike length of 3,100 metres and ranges in
width from 50 metres to 200 metres. Within this zone, individual orebodies occur
as oxidised near-surface zones that are being mined by opencut. The opencut ore
averages between 2 - 3 g/t gold and is largely oxidised. Southeast of the
opencut mining, 2 metre to 10 metre thick banded quartz lodes averaging 10 g/t
gold are being actively mined underground.

In November 2003 Caledon signed a Letter of Intent ('LOI') with the Mojiang
Mining Limited Company. Under the terms of the LOI, Caledon can earn a 70%
equity stake in the Mojiang mine concession (7.2 km2) and new tenements within
Mojiang County, as well as a 90% interest on exploration ground to be acquired
in defined counties in southern Yunnan Province.

Combination Diamond Core / RC Rig Imported to China - Mobilised to Hengxian

A multipurpose diamond/RC drilling rig has been imported into China ready to
commence a second round of drilling at the promising Hengxian Project,
approximately 100 kilometres southeast of Nanning, the provincial capital of
Guangxi. Previous reverse circulation drilling at Hengxian encountered drilling
difficulties and the current programme is designed to verify the previous RC
drilling as well as target additional ore zones.

George Salamis, Managing Director, reports: 'These are highly encouraging
developments on all fronts and we will continue to aggressively follow-up on
these results in the field within the coming months'.

On behalf of the board:



Stephen R Dattels George Salamis
Executive Chairman Managing Director

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

Anybody know of a broker buy note on CDN thats coming out?

No I don't Aldwickk but cannot fathom the further drop today. Sp has lost 20%+ in a few days on the back of what should have been seen as postive drilling updates. I'm inclined to start adding again at this price if only the spead was a bit narrower.

Where the hell is Sue Helen when we need her!

I think she is that pissed of with Dil and Big AL she not posting anywhere i dont blame her.

Hi Sue. Do you have any comments for CDN pls? plse don't let those muppets Dil and Dell to get you annoyed, if you ignore them they will eventually give up. Remember silence is golden!!

Chaps,

Sue and co have sold and are laughing all the way to the bank.
There is boiler room activity going on - to be shure.
pump and dump!!
Sorry to those that have lost money but you should know better
than to put hard cash on propecting for gold in China!
Come on be serious!!

Hello Sue, Any new inputs on Caledon?? anyway here you are.

Commodities favoured as hedge funds set out their stalls
Tue 21 September, 2004 08:57

By Steve Hays

MONACO (Reuters) - Commodities-related investments have taken centre-stage at a major hedge fund conference in Monaco, with managers laying out their favoured strategies.

Hedge funds are credited with playing a large part in the rally in commodities markets, particularly in oil, and are also estimated to account for around 30 percent of total trading volume in equities markets.

"After 20 years of underinvestment, commodities are offering huge opportunities and IRRs (internal rates of return) of 45 percent," Philip Richards, chief executive of RAB Capital said on Monday.

He was speaking at the Information Management Network's High-Performance Investing Symposium.

Richards said RAB's funds were generating extremely high returns by focusing on companies with world-class underlying assets, but which were very undervalued by the equities market.

He cited the example of South African Resources, a South African platinum producer which he said had had management problems and required an extensive work programme to extract the value from its 50 million ounces of inferred metal reserves worth $50 billion in-situ.

RAB had bought 25 percent of the company at 2 sterling pence per share and later sold its stake on at 12 pence, he added.

Other companies RAB has large stakes in include Asian energy which is developing a big coal mine in Bangladesh and Falkland Oil and Gas, which has licences to explore for energy resources in a large area of the South Atlantic, Richards said.

Kevin Harrington, director of research at Clarium Capital Management, said his company was focusing on taking out long positions at the long-end in crude oil futures contracts a couple of years out, which avoids the volatility in nearby contracts.

These positions have shown a steady appreciation in the last two years, he added.

Hedge funds are also carefully studying the impact of high oil prices on Russian stocks and William Browder, manager of the Hermitage Fund -- the largest investment fund in Russia with $1.2 billion in assets -- predicted a sharp rally in equities before year-end.

"Russian stocks are up 3 percent and the oil price is up 35 percent, yet oil and gas make up 75 percent of the Russian stock market. The great oil boom hasn't hit because of the Yukos situation."

Browder said he believed Yukos had now been priced into Russian equities, which are very cheap trading at six times earnings, and with large liquidity being held out of the market in low or even negative yielding assets, it is likely this money would return to shares soon.

Renee Haugerud, chief investment officer at the Galtere International Fund, said her company was basing its trading strategy on its outlook for what it called "inverse stagflation" where it saw stable to falling interest rates and equities, and inflation in commodities prices.

She said such a scenario could still be positive for China, where huge demand for raw materials has played a large part in the rallies in commodities markets, if the Chinese revalued the yuan upwards against the dollar.

Such a revaluation would offset the rise in dollar-priced commodities, when prices for China's finished goods exports are stable or falling, Haugerud said.

Don't worry your Sue helen will be back to get the glory when the price shoots up and tell you she/he told you so lol.

The results are out this morning Sue Helen were are you, this is your thread have you pumped and dumped this one?

CDN going well this AM.

CDN going well this AM.

From advfn
http://www.worldnetdaily.com/news/article.asp?article_id=40579
http://kitco.com/ind/appel/sept232004.html

4.50 to sell 4.65 to buy at the moment

The recent dip was caused by their 29/9 RNS creating uncertainty over their Hengxian gold project in Guangxi Province, China. It was left a bit ambigous but related to the abondonment of drill holes due to unstable mineralisation nonetheless alluded to completing the mission. IMHO that today's trading all significant buys could be a precursor to soem much more positive news from Hengxian where if recoverable a collection of seams some 10km long is a likely prospect. Up 17% today and several buys were pretty chunky. Keep your eyes peeled for the follow-up RNS.

Tipped by T.1.P.S.com today at 16:15pm "strong speculative buy"
Go to www.advfn.com cdn and read Dr Knowledge's post 7710 at 16:52pm.

Up 19% by 8:03 am

Hoping for my Christmas holiday on this one. I am sticking this one out to reap the benefits.

I think our long suffering loyalty could be about to pay off - big time. I'm sure there is news coming.

Fasten your seat belts!