AGT - Sector: Basic Materials --- Industry: Gold

[setravis]

Gold anyone....

Profile Get Profile for:  

Apollo Gold Corp.
5655 S Yosemite Street
Suite 200
Greenwood Village, CO 80111-3220
Phone: 720-886-9656
Fax: 720-482-0957
Web Site: http://www.apollogold.com

DETAILS  
Index Membership: N/A
Sector: Basic Materials
Industry: Gold
Full Time Employees: 403


BUSINESS SUMMARY  
Apollo Gold Corporation engages in the exploration, development, extraction, processing, refining, and production of gold and other by-product metals, as well as in the related activities. As of September 30, 2005, the company owned and operated the Montana Tunnels Mine, an open pit mine and mill, producing gold ore and lead-gold and zinc-gold concentrates located in the State of Montana. As of the above date, it also owned the Diamond Hill Mine, under care and maintenance, in the State of Montana. In addition, the company has a development property, the Black Fox Project, which is located near the Township of Matheson in the Province of Ontario, Canada. It also owns Mexican subsidiaries, which own or have the right to acquire concessions at the Huizopa exploration project, located in the Sierra Madre gold belt in Chihuahua, Mexico. The company operates principally in the United States and Canada. Apollo Gold was founded in 1936 and is based in Greenwood Village, Colorado.

[setravis]

Form 8-K for APOLLO GOLD CORP


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22-Dec-2005

Other Events



Item 8.01. Other Events.
In May 2005, the Board of Directors of Apollo Gold Corporation (Apollo or the Company) adopted a plan to dispose of its Nevada assets (the Nevada Assets)(Florida Canyon Mine, Standard Mine and four exploration properties). The Nevada Assets have therefore been classified as discontinued operations and that change in classification was reported in our Form 10-Q for the periods ended June 30, 2005 and September 30, 2005. The Nevada Assets held for sale have identifiable cash flows that are largely independent of the cash flows of other groups of assets and liabilities and have been classified as discontinued operations as required by Statement of Financial Accounting Standards (SFAS) No. 144 Accounting for the Impairment or Disposal of Long-Lived Assets. The Company completed the sale of the Nevada Assets to Jipangu Inc. on November 18, 2005.

Additionally, commencing in the second quarter of 2005, Apollo changed its accounting policy under Canadian generally accepted accounting principles (GAAP) and U.S. GAAP with respect to stripping costs to be consistent with the consensus reached by the Emerging Issues Task Force (EITF). On March 30, 2005 the Financial Accounting Standard Board ratified the consensus of the EITF Issue 04-06 that stripping costs incurred during the production phase of a mine are variable production costs that should be included in the costs of the inventory produced during the period that the stripping costs are incurred, on the basis that the consensus results in a more reliable, relevant and consistent application of GAAP. The change has been applied retrospectively by restating prior periods.

The rules of the Securities and Exchange Commission (the SEC) require that when a registrant prepares a new registration, proxy or information statement (or amends a previously filed registration, proxy or information statement) that includes or incorporates by reference financial statements as of a date on or after the date a registrant reports a component as a discontinued operation, the registrant must also restate the prior period annual financial statements included or incorporated by reference in the registration, proxy or information statement to reflect the discontinued operation. Accordingly, we are filing this Form 8-K to restate our consolidated financial statements for each of the three years in the period ended December 31, 2004, to reflect the reclassification of our Nevada Assets from continuing operations to discontinued operations and the change in accounting for stripping costs. We are presenting the following restated information in this Form 8K:

· Selected Financial Data,

· Managements Discussion and Analysis of Financial Condition and Results of Operations, and

· Consolidated Financial Statements and Related Notes.

This Form 8-K does not reflect events occurring after the filing of the original Form 10-K for the year ended December 31, 2004, and does not modify or update the disclosures therein in any way, other than as required to reflect the changes in discontinued operations and the change in accounting for stripping costs as described above and set forth below. In particular, this Form 8-K does not update the disclosures contained in Managements Discussion and Analysis of Financial Condition and Results of Operations or Note 21 (Subsequent Events) to the Consolidated Financial Statements, other than as required to reflect the reclassification of our Nevada operations from continuing operations to discontinued operations and the change in accounting for stripping costs. Significant developments with respect to those disclosures have occurred and are described in subsequent filings with the SEC, including our Form 10-Q for the period ended September 30, 2005.

[setravis]

Undervalued......
High grade gold output exceeds expectations at blackfox mine.
Company confirmed that high grade gold mineralization has exceeded expectations and has a extremely high grade level of gold, with excellent system continuity (continued gold stream)
Continued strong MACD and Stochastic.

Support @ 0.23...0.22...0.21
Resistance @ 0.24...0.27..0.28...0.29...0.30

Technicals
MACD is Bullish
Most Actives
Percentage Gainer

Last Price Quote is:
18.39%above 13-day EMA
12.09%above 50-day EMA
RS Rating: 98

Double Bottom (Reversal) Pattern
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in between.

Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.

It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.

[setravis]

Has broke through the resistance high in this
Double Bottom (Reversal) Pattern.
Volume: 2,995,000...........Great volume to go with this Breakout..... Volume now @ 3,122,200
Avg Volume (3m): 770,392

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
38.13%above 13-day EMA
30.77%above 50-day EMA
RS Rating: 98 

[setravis]

Looking good.....


Most Actives
Percentage Gainer

Last Price Quote is:
35.67%above 13-day EMA
33.82%above 50-day EMA
RS Rating: 98 

[setravis]

Yes !
That worked out very nice.......

Volume: 2,297,200
Avg Vol (3m): 863,592

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
46.20%above 13-day EMA
53.19%above 50-day EMA
RS Rating: 98 

[la-onda]

any price target
cheers
O.

[setravis]

I'm going to target that next resistance high @0.38 ,and see how that
works out for me.


Price Target: The distance from the resistance breakout to trough lows can be added on top of the resistance break to estimate a target. This would imply that the bigger the formation is, the larger the potential advance.

[setravis]

moving on up this morning...
+17.65%......Volume @....... 883,200

[setravis]

Oh yes.....


APOLLO GOLD CORP CDA (AMEX:AGT) Delayed quote data 

Last Trade: 0.46
Trade Time: 10:39AM ET
Change:  0.03 (6.98%)
Prev Close: 0.43
Open: 0.50
Bid: N/A
Ask: N/A
1y Target Est: 4.00

  Day's Range: 0.44 - 0.51
52wk Range: 0.16 - 0.75
Volume: 2,242,600
Avg Vol (3m): 1,006,010
Market Cap: 49.02M
P/E (ttm): N/A
EPS (ttm): -0.15
Div & Yield: N/A (N/A)


Technicals
Record Volume
Most Actives
Percentage Gainer

Last Price Quote is:
67.93%above 13-day EMA
96.12%above 50-day EMA
RS Rating: 98 

[setravis]

It has moved very well....nice volume day, again!
Volume: 4,787,500
Avg Vol (3m): 1,065,100

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
75.23%above 13-day EMA
104.64%above 50-day EMA
RS Rating: 99 

[setravis]

Back up in price after a dip to 0.40
Volume: 2,904,800
Avg Vol (3m): 1,215,950

Support @ 0.36...0.31...0.29
Resistance @ 0.45

Technicals
MACD is Bullish
Stochastic is Bearish
Most Actives
Percentage Gainer

Last Price Quote is:
27.50%above 13-day EMA
69.20%above 50-day EMA
RS Rating: 98 

[setravis]

+10.53%........Volume @......1,013,800

[setravis]

Let's rock today.....

APOLLO GOLD CORP CDA (AMEX:AGT) Delayed quote data 

Pre-Market (RT-ECN): 0.49  0.11 (28.95%)  Volume @ 887,100....

[setravis]

Press Release Source: Apollo Gold Corporation


Latest High-Grade Gold Intercepts Reported At Apollo Gold's Black Fox Project
Thursday February 2, 6:00 am ET


DENVER--(BUSINESS WIRE)--Feb. 2, 2006--Apollo Gold Corporation ("Apollo" or the "Company") (TSX: APG - News; AMEX: AGT - News) is pleased to announce additional encouraging results from the 2005 core drilling program of the Gold Zone at its Black Fox Project near Timmins, Ontario, Canada. The most recent drilling continues to demonstrate high-grade gold mineralization and excellent system continuity. Highlights include (all true widths): 7.8 feet (2.4 meters) of 3.20 oz Au/ton (109.8 gm Au / tonne) in Hole 235-317 and 12.2 feet (3.7 meters) of 3.10 oz Au/ton (106.2 gm Au / tonne) in Hole 235-320.
Apollo CEO and President R. David Russell commented: "The Black Fox project continues to exceed our expectations with high-grade gold intercepts as well as continued demonstration of continuity of the mineralized zones. The project remains the cornerstone of the Company and we believe that Black Fox will become a world-class mining operation. The Company continues to work on the updated Canadian National Instrument 43-101 ore reserves report with a final report expected by the end of the first quarter 2006."

Highlights from the most recent Black Fox gold zone drilling results are shown in the table below. The complete list of press releases with assay results for the Black Fox project is available on the Apollo website: www.apollogold.com.

The 2005 exploration program at Black Fox included underground and surface drilling in support of a full feasibility study that will update reserve calculations for both the open pit and underground deposits. Apollo's drilling program was conducted using core hole spacing of 12.5 meters to support the determination of ore reserve values. The pre-feasibility study compiled in early 2004 credited the property with open pit gold reserves of over 3.2 million tons (2.95 million tonnes) with an average grade of 0.14 oz Au/ton (4.8 gm Au/tonne) for a total of 457,100 ounces of gold. The grade of the new underground reserves will increase considerably with the use of the higher cut-off grade suitable to an underground operation. Reserve tonnage figures are expected to increase significantly with the inclusion of subsequent drill results. In 2005 alone, Apollo completed a total of 51 surface core drill holes totaling 9814 meters and 160 underground core drill holes totaling 34,456 meters from the 235 meter level.

The total Black Fox drilling program since Apollo Gold purchased the property has been 449 surface core holes totaling 73,335 meters and 345 underground core holes totaling 135,712 meters.

The Black Fox project is located along the Destor-Porcupine Fault System within the Abitibi Greenstone Belt, a world-class mining district that has yielded over 75 million ounces of cumulative gold production from renowned mines such as Dome, Hoyle Pond, Hollinger, Holt McDermott and Harker Holloway. Black Fox was acquired by Apollo in late 2002 during a period of depressed metal prices as part of a strategic plan for the Company to explore and develop high-grade gold assets to replace its older and lower-grade producing properties.

This press release has been reviewed and approved for release by Richard Nanna, Professional Geologist, and the Company's Senior Vice-President, Exploration and Development and designated "Qualified Person" under NI 43-101.

Apollo Gold Corporation

Apollo Gold is a gold mining and exploration company with a mine in Montana, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa Project, an early stage exploration project in the Sierra Madre Gold Belt in Chihuahua, Mexico.

FORWARD-LOOKING STATEMENTS

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding potential mineralization, reserves, exploration results, timing of completion and the results of the Black fox feasibility study, anticipated development and timing of development, permitting, and production at Black Fox, and future plans and objectives of Apollo, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include: the results of independent Canadian NI 43-101 reports, the outcome of assays and additional exploration sampling and drilling efforts, delay in permits or approvals, technical, delay in permits or approvals, technical or permitting problems, variations in ore grade, mining, or processing problems or issues, the availability of funding on acceptable terms for the future exploration and development of Black Fox and other Apollo mines and projects, and other factors disclosed under the heading "Risk Factors" and elsewhere in Apollo documents filed from time to time with the Toronto Stock Exchange, The American Stock Exchange, The United States Securities and Exchange Commission and other regulatory authorities.

Contact:
Apollo Gold Corporation, Denver
Marlene Matsuoka, 720-886-9656, Ext. 217
Toll-Free: 877-465-3484
E-mail: [email protected]
Website: www.apollogold.com

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Source: Apollo Gold Corporation