UPDATE 1-Caledon in advanced talks with two suitors -source

* Talking to Indian, Chinese suitors -source

* Hopes to strike deal by July 23 AGM -source

* Shares up 10 percent

(Adds background, Polo, coking coal)

By Quentin Webb

LONDON, July 10 (Reuters) - Caledon Resources Plc (CDN.L) (CCD.AX), the coking coal company, is in advanced takeover talks with two possible buyers from China and India, a person familiar with the matter said on Friday, lifting its shares.

Caledon hopes to agree a deal by July 23, when it holds its annual general meeting (AGM), the person said. Caledon produces and explores for coking coal, which is used in steelmaking, in Queensland, Australia.

The company was not available for comment.

It shares were up 10.1 percent at 60 pence at 1028 GMT.