Friday, 12th November 2004 (2389 views)

Apollo Gold has announced its third quarter results today, with 19,787 ounces of gold produced during the period.

The gold mining company has operating mines in Nevada and Montana and advanced development project Black Fox, in Canada.

Results for the period revealed that net proceeds of $8.6 million were raised through two private placement findings and construction of a new mine in Nevada is completed with production due to begin in the last quarter of this year.

R. David Russell, president and CEO of the company, commented: "We believe we are turning the corner as our development projects are being completed. We have spent much of our recent efforts on fundraising."

"As our operating properties turn around and we get a handle on the exciting deposit at Black Fox, I believe that all Apollo shareholders will see positive developments in the near future," Mr Russell added.

Additional highlights during the period saw production picking up at Florida Canyon and positive operations at the Montana Tunnels mine.

 

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