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Caledon Resources (CDN.L): Gold exploration in China

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COMPANY== Symbol : Paid- : NAV , 12moRange ShsOS MarketCap

Caledon Res. (CDN.L): 3.65p : 1.68p , 2.75 - 5.25, 332.21 Pd12.1mn

 

Weekly Chart ... update: weekly-3yrs : daily-6mos : compare-w/ DYG & JIN

bd784dce7d.gif

 

"Caledon's mission is to become the investment vehicle of choice for investors focussed on the Chinese resource sector.

Caledon has assembled a multi-talented, technically oriented management team. All team members have over 20 years experience in evaluating hundreds of Asian gold and base metal deposits and are experienced in all facets of mining exploration: from grassroots level and advanced feasibility level exploration to mergers and acqusitions

Advanced stage gold exploration focussed on under-explored, small scale producing gold mines in China - Exploration active on four advanced stage gold projects: Mojiang, Hengxian, Gaolong, and Badu Strong balance sheet: Caledon currently has in excess of GBP 7 million allocated towards exploration and project acqusitions." - says CDN's website.

 

Comment:

Almost three years ago, in 2004 Caledon had a great run from 1p to 17p+, as CDN was promoted heavily as a "China gold play." But like many AIM-listed mining companies, when the promotion is done, the stock fell back to earth. CDN fell hard, all the way down to 2.75p in early November. But since then, the stock has been on the mend. And it looks like a new base has been formed for a move higher.

 

CND has some things going for it now:

+ Pds.7mn in cash, which is over half of its MarketCap.

+ 3-4 decent projects in China,

+ Years of experience in a country which is making it easier for foreigners to do business, and where there is still great untapped potential,

+ A changed management, which is more interested in building value, than the previous one, that was more focussed on promotion,

+ A track record of having proven its ability to spot value in China. They bought a stake in Canadian listed, Dynasty Gold (v.DYG), a company with some good projects in China, which has subsequently attracted attention by signing JVs with larger mining companies

 

China gold plays are coming back into favor. See: comparisons with : DYGvs.CDN and JINvs.CDN . withouit any science to back it up, I value CDN's china projects at pds.5mn, and its cash and other assets at pds.7mn. So at the current market cap, you are getting Caledon's China expertise for free, when rising gold prices are bring a new appreciation for mining opportunities in the world's most populous country.

 

(Note: I have invested in both DYG and JIN, and I am up over 150% on those investments. I have started to take some profits on those two, and roll it into cheaper China gold plays like: v.ICI and CDN.L)

 

= = = = =

LINKS:

Corporate website : http://www.caledonresources.com/

Advfn thread/ CDN: http://www.advfn.com/cmn/fbb/thread.php3?id=10754157

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Bids over 4.25p would be a sign it is moving. Soon, I hope

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Looks very constructive to me

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Evening from Devon,

 

Been following what has been said about Caledon and looking at the charts, so yesterday bought £2000 of shares at 3.25pence, and will wait and watch. Can i ask Bubb what time frame do you operate on for stocks such as this. Have also bought Thor and Tertiary, i suppose if these do well you score big.

 

I the early nineties i bought £3000 worth of mining shares in Cluff resources at 18.00 pence, and a year later they were bought out at £1.30. That was and still is my biggest success.

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Time frame?

Depends on the stock: its chart and potential news flow.

 

For TYM: my target is 19-20p or more, maybe soon

 

For CDN: a possible double from where I bought it: 7-8p, within 6 months I hope

 

For THR: a double or more, but may need 12 months

= =

 

How'd you get CDN at 3.25P? Do you mean 4.25p?

The problem with these stocks is the huge Bid/offer spread. That is why I prefer Canadian

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Morning from Devon,

 

Yes well done, my mistake i had bought Thor at 3.25p and Caledon at 4.25p. Thanks for the idea of when to sell.

 

Intresting comment on buying Canadian shares. What would you buy into with £5000. I fully know the risks and have lost big before without regret(notable buying Ashanti when it went public in the nineties).

 

I have admired your dedication on gold, and having been to India many times, one can happily say as long as India continues to prosper buying of gold will increase. I also think gold is used incresingly for electrical appliances.

 

I am reading your trip comments with great interest and laughter. Keep it up.

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It's down a bit today from its ups, probably on the China interest rate news, or something ridiculous, so might not be a bad time to go in.

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Caledon Drill Report

 

RNS Number:2030C Caledon Resources PLC 28 April 2006

 

 

 

PRESS RELEASE

 

April 27, 2006

 

Mojiang Drill Update

 

Caledon Resources ("Caledon" or "the Company") is pleased to report on further interim results from current drilling in the Mojiang gold project, situated in South-western Yunnan Province, PRC.

 

Drilling operations at Mojiang commenced in early February 2006, with a planned programme of 2500 meters of Reverse Circulation (43 holes) drilling and 1500 metres (22 holes) of diamond drilling. To date, 43 RC holes and 6 diamond drill holes have been completed for a total length of 2525 metres.

 

Highlights from the recent Mojiang drilling include:

 

 

MJDDH009 intersected 10.12 g/t gold over 26.00 metres

 

MJRC057 intersected 4.84 g/t gold over 5.00 metres

 

MJRC059 intersected 2.54 g/t gold over 45.00 metres

 

MJRC061 intersected 1.54 g/t gold over 24.00 metres

 

MJRC071 intersected 2.29 g/t gold over 16.00 metres

 

MJRC074 intersected 8.85 g/t gold over 1.00 metre

 

MJRC075 intersected 15.35 g/t gold over 2.00 metres

A complete breakdown of these results has been included as an appendix to this press release.

 

Reverse Circulation (RC) drilling operations have been completed at Mojiang, while diamond drilling continues to progress. A further 16 holes for a total of 1100 metres of drilling remain to be completed.

 

Caledon's technical management team continues to be satisfied with the results obtained to date from the 2006 drilling program, with excellent mineralisation continuity established and at the same time preserving the significant upside potential of the property.

 

Results to date (see releases: March 1st and March 29th, 2006) continue to prove the existence of a flat-lying near surface zone of disseminated gold mineralisation, averaging 20 to 40 metres in true thickness, occurring over a strike length in excess of 2 kilometers. More narrow (2 to 10 metre wide) zones of high grade gold mineralisation cross-cut the low grade zones, occurring as banded epithermal veins and intense silification.

 

Upon completion of the drill programme in June, Caledon's field crews will begin the task of resource modeling using geological, structural and assay data collected from the 2005 and 2006 drill programs. Once this step has been completed, the resource model and drill hole database will be passed to SRK Consulting, who have been engaged by Caledon to complete a resource estimate at Mojiang. This resource estimate should be completed in 2006.

 

The Mojiang goldmine is situated in Yunnan Province, South Western China and lies 200 kms southwest of the provincial capital city of Kunming and 10 kms northeast of Mojiang City. In 2004, an agreement was signed between Caledon Resources PLC (Caledon) and the Mojiang Mining Company to conduct exploration at the Mojiang goldmine. Caledon has the right to acquire 70% of the project.

 

Harry Mustard (MAusIMM), Caledon Resources' Senior Geologist, is the 'competent person' as defined by London AIM's recent 'Guidance Note for Mining, Oil and Gas Companies, March, 2006 - AIM 16'. Mr. Mustard is overseeing the company's exploration work at Mojiang and supervised the preparation of the information in this release.

 

On behalf of the board,

 

Robert Alford George Salamis

 

Chairman Chief Executive Officer

 

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

 

 

George Salamis

gsalamis@caledonresources.com

Donal Douglas, Investor Relations

ddouglas@caledonresources.com

Caledon Resources Plc

18 Upper Brook Street. London W1K 7PU England

Telephone +44 (0) 20 7318 5780 Facsimile +44 (0) 20 7318 5781

 

 

 

 

APPENDIX

 

 

Interim Drill Results - Mojiang Gold Project, Yunnan, PRC

Drill Hole From To Width Gold Grade

MJRC054 2 17 15 1.69 g/t

MJRC055 2 16 14 0.61 g/t

MJRC056 0 18 18 1.83 g/t

MJRC057 1 6 5 4.84 g/t

MJRC057 22 58 36 0.85 g/t

MJRC058 0 30 30 1.69 g/t

MJRC059 0 45 45 2.54 g/t

MJRC060 0 18 18 0.91 g/t

MJRC060 24 32 8 0.80 g/t

MJRC061 0 24 24 1.54 g/t

MJRC062 1 54 53 1.43 g/t

MJRC063 0 44 44 1.00 g/t

MJRC064 0 26 26 0.52 g/t

MJRC066 37 48 11 0.65 g/t

MJRC067 0 25 25 0.81 g/t

MJRC067 43 56 13 0.58 g/t

MJRC068 9 24 15 1.66 g/t

MJRC068 35 47 12 0.78 g/t

MJRC070 20 32 12 1.48 g/t

MJRC071 7 23 16 2.29 g/t

MJRC072 7 17 10 0.99 g/t

MJRC073 0 24 24 1.17 g/t

MJRC074 15 16 1 8.55 g/t

MJRC074 47 52 5 2.86 g/t

MJRC075 7 9 2 15.35 g/t

MJRC075 22 46 24 1.62 g/t

MJRC076 0 2 2 3.46 g/t

MJRC076 8 13 5 1.23 g/t

MJRC076 34 43 9 2.88 g/t

MJRC076 57 59 2 1.31 g/t

MJRC077 11 17 6 0.82 g/t

MJDDH008 58 60 2 3.58 g/t

MJDDH009 22 48 26 10.12 g/t

This information is provided by RNS

The company news service from the London Stock Exchange

 

 

 

END

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I don't follow this one that closely but I think the spread has closed a little on this recently, to about .25p at the moment, so I'm pretty tempted especially as it seems to be doing well in the face of gold slipping this week - which bodes well for the future IMO.

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Caledon has been moving up nicely of late with a 20% one day increase earlier this week currently 5.25/5.75 any thoughts?

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I see it moving to 6-7 p, and maybe higher

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I've been following this, and it appears some big news is around the corner.

 

The posters on ADVFN have been speculating there are some big buyers who've been accumulating stock over the past month...

 

Its probably going to be a case of the rumour being more exciting than the news itself.

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I've been following this, and it appears some big news is around the corner.

 

The posters on ADVFN have been speculating there are some big buyers who've been accumulating stock over the past month...

 

Its probably going to be a case of the rumour being more exciting than the news itself.

 

 

This is posted on another board.............

 

 

This Following taken from todays Times Online.

 

"Caledon Resources held steady at 5 1/2p on talk of a "transformational"

acquisition next week. The deal is understood to entail the injection of up to £50 million of Australian assets - currently owned by a major - into the £19 million company, so turning it from an explorer into a producer."

 

At last after 2 1/2 years I am "Very" excited. The true potential of the company which all us long term holders have known about is about to take off.

 

Good luck to all long term holders... 5p will soon be a distant memory.

 

 

and heres the link.........http://www.timesonline.co.uk/article/0,,748-2230082.html

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"5p will soon be a distant memory"

 

I hope, because it RISES from here

 

Holland, they arent my words i just cut n pasted.

although i think the price is going to rocket also! :rolleyes:

 

I think there will be a scramble for this monday morning

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Holland, they arent my words i just cut n pasted.

although i think the price is going to rocket also! :)

 

I think there will be a scramble for this monday morning

 

Good call HB currently up 9% to 5.75/6.25p it sounds like traders on ADVFN are expecting an announcement later this week.

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Good call HB currently up 9% to 5.75/6.25p it sounds like traders on ADVFN are expecting an announcement later this week.

 

This is Bubbs call Riser he told us all about it :)

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SUSPENDED

 

PRESS RELEASE

 

June 19th, 2006

 

Caledon Resources Signs Heads of Agreement with Xstrata Mining Limited to Acquire the Cook Coking Coal Mine Operation in Australia

 

Caledon Resources ("Caledon" or "the Company") is pleased to announce the signing of a Heads of Agreement ("HOA") with Xstrata Coal Limited, a subsidiary of Xstrata Mining Limited ("Xstrata"), to acquire the Cook Coking Coal mine, a producing mine in Queensland, Australia.

 

Completion of this landmark transaction with Xstrata will mark Caledon's transition from junior resource explorer to resource producer, launching the company into the high-margin coking coal mining business. This proposed transaction constitutes a reverse takeover under the rules of AIM. Accordingly, the acquisition will be subject to the publication of an admission document and to shareholders' approval. In accordance with the rules of AIM, dealing in Caledon's shares will be suspended on AIM until the publication of the admission document.

 

Following the acquisition of the mine, on the completion of the formal Asset Purchase Agreement, Caledon expects to increase the current Cook mine production from approximately 300,000 tonnes per annum to 1.5 million tonnes per annum (Mtpa) within a period of two years. As part of the asset sale, Xstrata has quoted a reserve base (Measured and Indicated, JORC standard) of 126 million tonnes of coal for the Cook Mine. This is derived from two seams which are currently accessible via existing and active underground workings. Preliminary due diligence conducted by Caledon, using SRK Engineering as an external consultant, has confirmed that at least 40 million tonnes of premium coking coal, equivalent to 20 years of mine life at an ultimate mining target rate of 2 Mtpa, is readily accessible from existing and active Cook underground mine workings.

 

Premium quality coking coal, such as that produced at the Cook mine, has achieved prices from $US90 to $US120 per tonne over the past two years. Coking coal prices are forecasted to remain strong for the foreseeable future, driven by world-wide demand for steel and by current constraints on the seaborne coking coal supply chain.

 

The HOA with Xstrata also outlines the terms of marketing and off-take arrangements for the sale of Cook coking coal by Xstrata including rail and port access guarantees for a period of two years with an option to renew these arrangements on a best efforts basis thereafter.

 

Once production goals are achieved, Caledon Resources will be elevated to the status of mid-tier coking coal producer, on a par with a number of other mid-tier coking coal producers operating in Australia.

 

Chief Operating Officer appointed

 

Caledon is also delighted to announce the appointment of Mr. Peter Seear as the company's Chief Operating Officer. Mr. Seear brings an impressive background of underground coal mining experience to the Company's production plans and growth strategy as well as being experienced in the new underground coal haulage system which we intend to introduce in the Cook Mine.

 

Debt focused financial advisers appointed

 

In support of this growth strategy, Caledon further announces the appointment of Endeavour Financial International Corporation as the Company's exclusive debt financing advisor.

 

Caledon-Xstrata Heads of Agreement

 

The HOA with Xstrata contemplates the purchase the Cook Mine in Queensland, Australia, for a total consideration of $AUS 45.6 million. This sum is to be paid on completion of the Asset Purchase Agreement, which is subject to the fulfilment of certain conditions precedent including the approval of the Caledon and Xstrata boards, regulatory approval, transfer of the mining sub-leases, etc. The HOA contain exclusivity arrangements between the two companies for a period of 4 months intended to cover the period leading up to the signing of the Asset Purchase Agreement. The exclusivity arrangements are subject to break-fees applicable to both parties.

 

Caledon has deposited a total of $AUS 5 million as a down-payment against the purchase price of the mine, half of which is refundable should the transaction not be completed.

 

Cook Mine Purchase

 

The Cook mine purchase includes all mining rights to the current Cook mine reserve, mine site infrastructure and mining equipment, and haulage roads as well as rights of access to the Coal Preparation Plant ("CPP"), rail loop and load-out facilities, etc. In addition, following the completion of the transaction, Caledon will have the right to operate the CPP having entered a long-term rental agreement with Xstrata

 

Coking Coal Marketing, Off-take and Transport

 

For the first two years of operation, at a time when access to rail and port facilities is challenging, Caledon has agreed with Xstrata for them to provide the necessary rail and port access, coking coal marketing expertise and off-take agreements. Under the terms of the agreement, Xstrata will have the exclusive rights to market Caledon's coking coal from the Cook mine on an open-book basis, for which Caledon will pay a pre-determined marketing fee to Xstrata. Under the off-take agreement Caledon and Xstrata have agreed a production schedule ("Nominated Annual Tonnage" or "NAT") of 900,000 tonnes of coal in 2007, escalating to 1.5 million tonnes in 2008. Caledon is limited to this production level until 2009, due to rail and port constraints.

 

For production years 2009 and beyond rail and port allocation constraints are expected to decrease significantly.

 

Cook: Current and Future Production

 

Currently there are two substantial coal seams at the Cook Colliery; they are the Castor seam at a depth of 170 meters and the Argo seam at a depth of approximately 183 meters. Coal is currently produced by the use of "continuous miners" and Caledon plans to introduce a new underground coal haulage system. Access to the coal seams is via an inclined shaft and roadways. Both seams contain coking and thermal coal. Initially Caledon will concentrate on the Argo seam where the coking/thermal coal split is much higher in favour of coking coal. The mine is currently designed to produce from two development units. Coal is transported over a private overland haulage road to the CPP where beneficiation takes place. Cook produces a low ash high quality coking coal which exhibits high levels of coking properties and is a well known and recognized established brand.

 

Caledon's development plans envisage the employment of experienced contract mining contractors, contract mine management and contract wash plant management to significantly expand production. To this end, the Company is currently in negotiation with a number of service providers. In addition, Caledon has contracted with SRK Engineering in Brisbane to assist them in completing the Qualified Persons Report, relating to this transaction.

 

Australia's Bowen Basin, The World's Most Prolific Coking Coal Region The Cook Coal mine is situated in Queensland's Bowen Basin, a region of Australia known for its premium quality coking coal production. The Bowen Basin produces approximately 115 Mtpa of coking coal from 30 mining operations. Open pit and underground production from the Bowen Basin, represents more than 50% of the world's seaborne coking coal. The region is host to four heavy haul railways, five ship loading terminals together with towns and service centres supporting the coal mining industry.

 

Xstrata, BHP-Billiton, Anglo American and Rio Tinto all have a significant operating presence in the Basin and their production accounts for the vast majority of the coking coal produced and shipped overseas. The Queensland Government has had a long history of proactive support for the coal mining industry in the Bowen Basin, providing rail and port access to its coal producers.

 

Appointment of Peter Seear as COO of Caledon Resources

 

Following the appointment of Mr. Seear as Chief Operating Officer, his mandate will be to take overall responsibility for the ownership transition and the future mine production including substantially increasing the output of the Cook mine.

 

Mr. Seear has been actively engaged in the coal mining industry since 1977. He commenced his career immediately upon graduation from the Coventry School of Mines in the United Kingdom,. He achieved Chartered Engineer status in the United Kingdom in 1983 and then he proceeded to work for several contract coal mining companies. Additionally he spent time with underground coal mining equipment manufacturers as an engineer, including 10 years with Joy Mining of South Africa and Joy Mining North America. He was also Engineering Director and Chairman of Cutting Edge Technology Pty Ltd in Australia for 10 years.

 

Mr. Seear also holds a Masters degree from the Harvard School of Business and brings a wealth of contacts in the contract coal mining, processing and marketing business.

 

Mr Seear, together with Mark Syropolo, a non-executive director of the Company, introduced the proposed acquisition to Caledon Resources and it is proposed that an introducers' fee, on a basis yet to be determined, will be awarded to Messrs Seear and Syropolo should the transaction successfully be completed.

 

Appointment of Endeavour Financial as Advisors to Debt Financing Arrangement

 

Caledon has also retained Endeavour Financial International Corporation ("Endeavour") on an exclusive basis to provide general corporate financial advisory services with respect to the debt financing element of this transaction. Over the course of the next few months, Endeavour will work closely with Caledon's management to identify and implement various transactions relating to the financing of this project.

 

Endeavour, with offices in London, Vancouver and the Cayman Islands, is a private independent investment banking business with a successful history of achievement for its clients based on its resource industry focus, innovative transaction skills and the diverse professional backgrounds of its team. Endeavour has recently assisted its clients in arranging over US $3.2 billion of financing in the debt and equity markets and has advised on over US $4 billion of mergers and acquisitions.

 

David Rhodes, Managing Director of Endeavour's Project Finance division, based in London, mentions: "Endeavour is delighted to work with Caledon and be part of its transition into a resource producer. Endeavour has been given the task of maximising the debt component of the acquisition and has high hopes of success based on the information we have received to date."

 

Management Commentary

 

George Salamis, CEO of Caledon reports: "This arrangement with Xstrata represents the next stage of 10 months of evaluation and due diligence work conducted by management in various regions of the world, covering several advanced stage resource acquisition opportunities targeting high unit-value ores in politically stable jurisdictions. We have always held the view that our management group has the drive and ability to move beyond pure exploration as a growth strategy. Over the last year the message from the market has been clear - the time has come to transform Caledon from an exploration company into a production company. Given the mine's forecasted production the acquisition is expected to produce significant near term cash-flows for shareholders. As part of the acquisition, we will be purchasing two continuous miners each of which is capable of producing 1.2 million run of the mine tonnes of coal per annum. We will also introduce to the coal mining industry in Australia, proven technology, currently employed elsewhere in the world, to provide "continuous haulage" systems to work with the "continuous miners" currently employed. This implementation will greatly increase production to the point where the word "continuous" will actually mean just that."

 

Robert Alford, Chairman of Caledon adds: "Becoming part of the global seaborne coking coal production and export business presents a wonderful opportunity for Caledon. The strategy to work initially with Xstrata for the transportation and sale of our production greatly reduces the risks faced by a new entrant to the coking coal business. Furthermore our decision to utilize the services of third party contractors at the Mine and the CPP allows the accurate budgeting and financial planning required for such an enterprise.

 

I welcome the addition of Peter Seear with his knowledge of the coking coal mining industry to our executive management group. I have no doubt that as Chief Operating Officer he will be a key driver in the transition of Caledon into a successful mid tier Coal Production Company.

 

Furthermore we also look forward to providing further information to our shareholders over the next few months as we progress through to completion of the Asset Purchase Agreement with Xstrata, with optimized corporate financing strategies running in parallel with this process".

 

On behalf of the board,

 

 

Robert Alford George Salamis

Chairman Chief Executive Officer

 

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

 

George Salamis gsalamis@caledonresources.com

 

Donal Douglas, Investor Relations ddouglas@caledonresources.com

 

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

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Interesting to see Endeavour's involvement here.

 

They have been a key force behind a number of companies which experienced rapid growth such as Wheaton River (which later merged with Goldcorp.)

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I remember CDN and being one of my picks about a year ago, i got bored of it and sold out... I believe GFM.L griffin mining are worth a shot, held them about 12 months ago at around 30p, which i see now spiked to about 100p, also got bored, but i believe they have a large (if not complete) chinese interest.

 

Ive picked so many double and tripple baggers its crazy, ive just never held long enough to make over 45% , pain in the butt looking back on it.

 

Holding AGLD at the moment, new release which i got slaughtered on but atleast now a head has rolled so the market may look a little more favourably on it. Financial reshuffle due out in the next few months, might also put some wind in its sails again

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STILL WAITING...

for the trading halt to be finished, and see it trading again

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STILL WAITING...

for the trading halt to be finished, and see it trading again

 

Caledon is Back - Trading up 28% 7.6p :D

 

Caledon Resources Acquisition

 

RNS Number:3245M

Caledon Resources PLC

20 November 2006

 

 

Caledon Resources plc

 

 

PROPOSED ACQUISITION OF THE COOK MINE, THE MINYANGO DEPOSIT AND MTP

 

 

PLACING OF 331,192,500 ORDINARY SHARES (the "Placing") AT 8P PER SHARE (the

"Placing Price") AND APPLICATION FOR ADMISSION, SHARE CONSOLIDATION AND

REDUCTION OF CAPITAL

 

 

The Directors of Caledon Resources plc ("Caledon" or the "Company") (AIM:CDN),

the London-based exploration and mining company, are pleased to provide more

details of the Company's proposed transition from the business of gold

exploration to coal production with the expected resulting near-term positive

cash flow. Shareholders are also informed that an admission document (the

"Admission Document") has been published today, together with a notice convening

an extraordinary general meeting of the Company. A copy of this Admission

Document is available from the Company's web-site, www.caledonresources.com and

is expected to be posted to shareholders later today.

 

 

Summary

 

 

* Caledon to transition from explorer to producer, supported by a robust

operating asset base and strong management team with experienced coal

executives and operators.

 

* Cook underground coal mine (the "Cook Mine") independent competent

person report ("CPR") results indicate strong expected life of mine

economics: Pre-tax Net Present Value of $US 256 million using a 10 per cent.

discount rate, internal rate of return of 583 per cent., cash flows of $US

30 - 67 million, 10 year coking/thermal coal reserve, 20 years of coal

resources.

 

* Minyango coal deposit (the "Minyango Deposit") independent study

results: estimated 205 million tonnes of in situ coal mineralisation in a

brown-field area, potential to delineate a variety of export quality coal

products, close proximity to existing and extensive Cook Mine infrastructure

 

 

The acquisition of the two coking coal projects marks an important milestone for

Caledon and its shareholders, in its transition from pure exploration to

resource production and near term cash flow...............................

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