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Financial In Market Investors reacted negatively towards the news of Apollo Gold's $100 million shelf registration, pushing its share price down 5.8% in heavy trading while its peers all closed up.

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Financial Forex Forex Software Sept 23, 2004 (AXcess News/SP) Denver - Apollo Gold Corporation (TSX: APG, AMEX: AGT) filed a $100 million USD shelf registration Thursday with the Securities and Exchange Commission in Washington DC.

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Trading R. David Russell, President and CEO of Apollo Gold, said, "Apollo Gold is continuing to investigate the different options available to Apollo Gold for the near-term and long-term funding requirements of the Company. The Form S-3 registration is part of the process to increase the Company's flexibility to complete funding requirements for the current operations, development

Trading Financial System projects, exploration projects and potential acquisitions or future financial transactions in a timely and efficient manner."

The Apollo spacecraft is the most intricate and exacting machine ever built, and it had to be as near to perfect as it could be made, every time. With over 3 million components, a performance record of 99.9% would still leave 3, - any one of which might result in the deaths of the crew. With the exception of Apollo 13, the spacecraft lived up to expectations on every lunar mission, and even Apollo 13, after a major explosion, managed to circle the Moon and bring its crew home safely.

Day Trading Russell's comments about funding current operations or future financial transactions hit home with investors following gold futures closing at a new 30-day high Thursday of $412, though Apollo was one of a handful of mining companies whose share price closed down.The market may have percieved the potential dilution Apollo would incur in placing any of its shelf stock.

Forex Financial Trading The The company had been touting its Black Fox underground drilling program in August, releasing those results on Aug 26th.

Fortune Make Option Trading Apollo is currently working on a full feasibility study for a combined open pit and underground operation at Black Fox. Apollo previously announced open pit reserves of 457,000 ounces of gold in the first quarter 2004.AdvertisementThe June 30, 2004 quarterly report showed a loss of $3.6 million, the prior 9 months it had produced gross profits in excess of $2 million per quarter. Operating income for June 30 period showed a loss of $10.6 million, more than double the prior three periods combined. Though research and development expenditures were $4.5 million, verses $1.5 million avergage per period in the preceding 9 months.

Science Of Financial Market While gold futures have climbed back over the $400 level, Apollo's chances of placing $100 million in shelf stock are better than average. Though Russell's board should consider its own share price levels before being too quick to sell stock.

Future Trading Apollo Gold (AMEX: AGT) is trading dangerously close to its 52-week low of $0.51, having closed Thursday at $0.64, down 4 cents or 5.88% on heavy volume of 484,900 shares. The 90-day average daily trading volume was reported to be 212,807 shares.

Financial Sales Services Source: Source Press

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