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Friday, 12th November 2004 (3744 views)

Apollo Gold has announced its third quarter results today, with 19,787 ounces of gold produced during the period.<BR/><BR/>The gold mining company has operating mines in Nevada and Montana and advanced development project Black Fox, in Canada.<BR/><BR/>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.<BR/><BR/>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."<BR/><BR/>"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.<BR/><BR/>Additional highlights during the period saw production picking up at Florida Canyon and positive operations at the Montana Tunnels mine.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7043469"/>

 

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