Call us : (250) 377-1182
facebook twitter linked-in
opawica ntg fairmount lingo media lux

AGT/APG.to Apollo Gold



Hello there guest! Want to join in on the conversation? Login or register for a forums account by visiting this link.


By Bobwins

Posted: Monday Oct 5 12:25:43PM 2009

Apollo improving production after adjustments to grade and toll milling low grade ore. Moving towards 100K/yr runrate +.02 to C$.52 On Monday October 5, 2009, 8:16 am EDT Companies: Apollo Gold Corp. DENVER--(BUSINESS WIRE)--Apollo Gold Corporation (“Apollo” or “we”) (TSX:APG - News) (NYSE Amex:AGT) is pleased to update the market on the third quarter 2009 gold production and progress at its Black Fox mine located near Timmins, Ontario. Related Quotes Symbol Price Change AGT 0.49 +0.03 We are pleased to report that during the three months of July through September 2009, the Black Fox mill processed approximately 161,000 tonnes of ore at an average grade of 4.1 grams of gold per tonne ore to produce an estimated 19,750 ounces of gold (recovery approximately 94%). The average mill throughput rate was therefore approximately 1,750 tonnes per day. Black Fox Mill Jul-09 Aug-09 Sep-09 3rd Qtr Tonnes Milled 49,400 54,800 56,800 161,000 Grade of Ore (grams/tonne) 3.8 4.2 4.2 4.1 Recovery 92.0% 95.0% 95.0% 94.0% Gold Production - ounces 5,500 7,000 7,250 19,750 In addition to the gold production from the Black Fox mill, we had additional gold production from ore from the Black Fox mine that was milled at St Andrew Goldfields’ (“SAS”) Holt mill facility, located approximately 30 miles east of the Black Fox mine. As we previously announced on September 9, 2009, we have an agreement with SAS to toll mill approximately 100,000 tonnes of Apollo’s Black Fox mine ore at SAS’s Holt mill facility. As at September 30, 2009, the Holt mill had processed approximately 62,000 tonnes of Black Fox ore at an average grade of 1.9 grams of gold per tonne to produce an estimated 3,500 ounces of gold (recovery approximately 92%). Therefore, total gold produced by Apollo in the third quarter 2009 was an estimated 23,250 ounces. R. David Russell, President and CEO of Apollo, stated: “We got off to a slow start in the third quarter producing about 5,500 ounces of gold in July as a result of experiencing ore grade control problems. During August, we saw an improvement in production, mainly due to the grade control programs we implemented during the month, and production rose to approximately 7,000 ounce of gold. September saw continued improvement with our estimated production being 7,250 ounces of gold. The third quarter was our first full quarter of production and we look forward to further improvements in the fourth quarter in ore control and throughput plus grades of ore.” Apollo Gold Corporation Apollo is a gold mining and exploration company which operates the Black Fox mine in Ontario, Canada. Apollo also owns the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico and operates the Montana Tunnels mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, which was placed on care and maintenance on April 30, 2009.

By Bobwins

Posted: Thursday Aug 20 7:38:22AM 2009

Conference call, which is available for replay on website, was very well done. Very detailed and focused on the issue, ore grade control. They detailed numerous steps they have taken to fix the problem. They have put geologists at the ore faces and at the yard, labeling ore as high grade and low grade. They are stockpiling low grade(1-3gm/tonne) ore to be processed at a later date OR run thru a nearby vacant mill. They expect to have a toll milling agreement in place next qtr to process about 100,000 tonnes of low grade ore. Could be 3-9,000 oz of gold, depending on the final grade but probably around 5,000. Grade started out very low in August but is averaging 4.6gm/tonne for the month to date. So it looks like problem is being worked on. The extra geologists are going to cost something over 1 million per year but the improved grades will more than compensate for that. Also the company reported that recovery rates have increased to 95% from 92.5 in Q2. This is in line with forecasts. Overall I felt good after listening to the CC. The company is experienced in mining and appears to have a handle on this near term problem. They appear to have been pretty aggressive with their forecasting to the Banks so hopefully they can get above the 80% threshold and avoid these bank reviews. Bobwins

By Bobwins

Posted: Tuesday Jul 28 7:43:21AM 2009

Apollo on track. 1800tpd current mill rate. Producing around 8,000 oz/month. Further increases in mill to over 2,000tpd due by year end. Should put them over 100,000oz/yr runrate. Cash costs should be well under $400 by year end. Bobwins DENVER, Jul 28, 2009 (BUSINESS WIRE) -- Apollo Gold Corporation ("Apollo" or "we") (TSX: APG) (NYSE Amex: AGT) is pleased to update the market on the second quarter 2009 gold production and progress at its Black Fox mine located near Timmins, Ontario. On June 2, 2009, we announced that our Black Fox project had poured its first gold bars during the last week of May and was in commercial production. We are pleased to report that during the two months of May and June 2009 the Black Fox mill processed 78,000 tonnes of ore at an average grade of 5.1 grams of gold per tonne ore to produce 11,860 ounces of gold (recovery approximately 92.5%). The average mill throughput rate was therefore approximately 1,280 tonnes per day. R. David Russell, President and CEO of Apollo, stated: "On June 2, 2009, we announced that our near-term objectives at Black Fox were (i) to operate the mill at a steady rate of 1,500 tonnes of ore per day for June 2009, (ii) to commission the new crushing circuit in early July 2009 and (iii) to increase throughput to our target of 1,800 tonnes per day by late September 2009. Due to a few minor mechanical challenges, we were unable to achieve the steady state throughput at the mill of 1,500 tonnes per day during the first half of June, but we were able to achieve it throughout the second half of June 2009. I am also pleased to announce that we did commission the new crushing circuit during the first week of July, on schedule, and that, for the first 26 days of July 2009 the mill throughput has averaged 1,800 tonnes per day."

By Bobwins

Posted: Monday Jul 13 2:54:32PM 2009

apg.to/agt dropped to .40 at the open because of a large volume cross. I bought some more and the stock recovered by the close after gold gained $10. APG.to is a producer. They are closing a PP that will give them funds to quickly drill around their amazing drillhole 10 at Grey Fox that measured 13.25OZ per tonne. The hole was shallow so we should find out if this is a new discovery in the next two months.

By Bobwins

Posted: Monday Jun 29 2:13:20PM 2009

David Russell, CEO, interviewed on BNN. This was a very crisp interview. Russell did a good job of rapidly answering each question in a very positive, thorough way. Talked about cash costs between $300-400 over time. Forecasting 30 million cashflow for 2009 and 70-75million for 2010. Said recent flow thru financing was mostly for exploration of Grey Fox, 7 million out of the C$10million total. Listen to interview here: http://watch.bnn.ca/#clip188581

By Bobwins

Posted: Friday Jun 26 12:57:57PM 2009

http://finance.yahoo.com/news/Apollo-Gold-Announces-Bought-bw-2486979070.html?x=0&.v=1 Issuing more shares for drilling out new area surrounding 13 oz drill hole. Well worth the money if they can confirm this is more than just one isolated drill hole. Also pricing and no warrants shows how far Apollo has progressed now that production has begun. Still dilution but this one appears to be for a good purpose. Bobwins

By Bobwins

Posted: Thursday Jun 25 8:15:28PM 2009

Blackmont Capital starts APG.to/AGT with a C$1 target. mentioned on BNN today as just starting production. News from company seems to indicate startup is going well, with production already at 1500tpd ramping towards 2200tpd by year end. Bobwins

By Bobwins

Posted: Tuesday Jun 2 7:20:29PM 2009

APG.to/AGT finally published their first gold pour PR. Market yawned and the stock lost a penny. Guess we need more substantial news to move the stock. Short term catalysts include drill results from nearby Grey Fox deposit and continued upgrades to mill capacity. Next upgrade coming in July. http://finance.yahoo.com/news/Apollo-Gold-Announces-First-bw-15410875.html?.v=1

By Bobwins

Posted: Thursday May 21 7:56:30AM 2009

APG.to/AGT C$.51 Apollo has been sputtering lately. Today is their annual meeting. I was expecting an announcement that they had poured their first gold but nothing so far. Company has been saying it would happen before the end of May. Stock should react positively to gold pour.

By Bobwins

Posted: Monday May 4 8:54:30AM 2009

Mining stocks hot today APG.to/AGT +.05 to C$.57 SMF.to +.07 to C$1.90 OGC.to +.07 to C$.87 PZG continuing to gain +.13 to 1.40 two microcaps holding 6 million shares each of PZG Trgd.pk +.035 to .16 GGI.v +.02 to C$.115

By Broke in Canada

Posted: Friday May 1 12:03:02PM 2009

There are large mispricing in the gold equity markets. For example, why should APG have a market cap similar to OGC. Please look at these companies closely, and provide some feedback. And this after OGC has had a run up to and after first quarter results.

By Bobwins

Posted: Thursday Feb 19 8:52:06AM 2009

APG.to/AGT -.03 to C$.37 Just got done loading up at C$.415 and they do this! Increased FD share count to 373million. Dropped strike price in half, extended term for one year AND gave them 2 million more shares! Something is wrong with their financing package because why would they agree to these onerous terms? Bobwins Apollo Gold Announces Amendments to a Portion of its Convertible Debentures due February 23, 2009 Thursday February 19, 2009, 8:45 am EST Yahoo! Buzz Print Related:Apollo Gold Corp. DENVER--(BUSINESS WIRE)--Apollo Gold Corporation ("Apollo" or the "Company") (TSX:APG - News) (NYSE:AGT - News) wishes to announce that it has reached an agreement with RAB Special Situations (Master) Fund Limited (“RAB”), the largest holder of its unsecured convertible debentures due February 23, 2009 (the “Convertible Debentures”), to extend the maturity date of the Convertible Debentures held by RAB to February 23, 2010. Related Quotes Symbol Price Change AGT 0.29 -0.03 {"s" : "agt","k" : "c10,l10,p20,t10","o" : "","j" : ""} The Convertible Debentures were issued in a private placement on February 23, 2007 (see the Company’s press release dated February 23, 2007 for additional information). Each US$1,000 principal amount of the Convertible Debentures is convertible at the option of the holder into 2,000 of the Company’s common shares, at any time until February 23, 2009 (the “Maturity Date”). Additionally, each US$1,000 principal amount of the Convertible Debentures includes 2,000 common share purchase warrants entitling the holder thereof to purchase one of the Company’s common shares at an exercise price of US$0.50 per share, which such warrants expiring on the Maturity Date (the “Warrants”). RAB owns US$4,290,000 principal amount of Convertible Debentures (on which US$772,200 of interest will be accrued and unpaid on the Maturity Date) and 8,580,000 Warrants. The Company and RAB have agreed to extend the maturity date of the Convertible Debentures owned by RAB to February 23, 2010. Furthermore, RAB has agreed that the Company shall have the option to repay on February 23, 2009 the US$772,200 of accrued interest on RAB’s Convertible Debentures in either common shares of the Company or cash. If the Company elects to pay the accrued interest in common shares, the number of common shares would be calculated by dividing the accrued interest owed by the US dollar equivalent of the volume weighted average market price of the Company’s common shares as quoted on the Toronto Stock Exchange during the five-day period ending February 23, 2009. In consideration for the foregoing, the Company agreed to (i) issue 2,000,000 common shares of the Company to RAB on February 23, 2009 (the “RAB Shares”), (ii) extend the expiration date of the Warrants issued to RAB to March 5, 2010 (the “RAB Warrants”) and (iii) reduce the exercise price of the RAB Warrants from US$0.50 to US$0.25. The foregoing amendments to the RAB Warrants, which were approved by the Toronto Stock Exchange, are effective March 5, 2009. The terms and conditions of the US$3,148,100 aggregate principal amount of Convertible Debentures and Warrants not owned by RAB have not been amended and remain unchanged. The issuance of the RAB Shares and any shares issued to RAB as payment for the $772,200 of accrued interest on RAB’s Convertible Debentures (as described in the immediately preceding paragraph) will be registered with the United States Securities and Exchange Commission (the “SEC”) on the Company’s shelf registration statement on Form S-3 (Registration No. 333-150431). In addition, the Company has agreed to file a resale registration statement with the SEC registering the resale of the common shares underlying the RAB Warrants and the Convertible Debentures held by RAB. The Company expects to elect to pay the accrued interest in common shares as described above. As of the date of this press release, the Company expects to exercise its right to pay the US$772,200 of accrued interest in the form of common shares. Apollo Gold Corporation Apollo is a gold mining and exploration company which operates the Montana Tunnels Mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico.

By Bobwins

Posted: Saturday Feb 14 12:59:27PM 2009

APG.to/AGT www.apollogold.com Apollo issued a PR yesterday outlining the proposed terms of their financing package to complete their Black Fox mine. The deal is going to be very expensive in terms of dilution. They will have to issue 40.7 million warrants with a .252 strike price(stock closed at .425 Friday) to borrow 70 million at Libor +7%. 5% loan fee! Ughhhh!!!!! http://finance.yahoo.com/news/Apollo-Gold-Provides-Update-bw-14352170.html This is in addition to 42 million warrants they had to issue in December to get a 15 million bridge loan! From the same lenders! Share count is 220 million but add on all the warrants they have issued and may issue with the proposed financing and the proposed share count climbs to 371.7 million shares. On 2/23/09, 18 million warrants with a US$.50 strike price expire. It is likely these will expire worthless and reduce the projected FD count to 351.7million. Company has been talking about 150,000 oz of gold from Black Fox. I talked with CFO Mel Williams Friday. They have elected to defer underground mining in this first phased opening. That will reduce production to 80,000 oz/yr. They intend to make a decision on proceeding with underground mining in late 2009. I think they want to wait for better credit conditions and after they have cashflow from Black Fox before borrowing more money. Also Williams said they intend to ease into underground mining. They have spare capacity in their mill. They bought a used mill for 1/2 the price of a new one and are upgrading it from 1100tpd to 2000tpd. They think they can reliably produce 1500tpd from the open pit. That would leave 500tpd for the underground mining. The underground is higher grade ore. Also helping with initial production is the higher grade ore found in the shallower portions of the open pit. Feasibility study done in 4/08 shows higher production in the first 3 yrs due to the higher grade material found early in the pit. Avg grade for the open pit is 5.4gm/tonne. Williams expects inital grade to be in the 5 to 7.5gm/tonne range. The underground grades are over 10gm/tonne. Feasibilty study: http://www.apollogold.com/htmlpage/news/news_2008/blackfox2008_43101.pdf 80,000 oz at $320/tonne costs and $920 gold yields $48million cashflow divided by 350million FD shares or .14 cashflow per share/yr. At 5X cashflow that is .70. At 10X cashflow, which it should earn after showing they can consistently produce at 80,000 run rate, the price could be 1.40. Increasing to 150,000 oz/yr run rate would obviously boost potential share price to the $2.50 range at 10X cashflow. Complicating this math would be the additional shares/warrants they have to issue to get the money to finance the underground expansion. Near term goals are close financing, as expensive as it is, get to April 09 startup, transition to commercial production rates this summer and make underground mining decision. I think it will be at least 2010 before they are capable of the 150,000 production rate. I still like their potential. I am buying with both hands. I think there will be a lull in the share price until 2/23/09. I think the company will hold potential positive news until after that date. This company has very near term production in a safe political country. They have potential to increase the Black Fox deposit by going underground. They have a nearby prospect that looks similar to Black Fox and would be easy to develop. The Mexican prospect has shown very high grades and would be developed for sale or JV as Apollo wants to focus on Canadian production. Bobwins

By Bobwins

Posted: Monday Feb 9 3:16:37PM 2009

another big volume day with a big pop. APG.to/AGT +.09 to C$.46 2.387 million shares traded. Upcoming catalysts Increase in reserves Satisfying conditions of $15million bridge loan Moving Black Fox mine into production by 4/09 Expiration of warrants on 2/23/09. Will either be exercised and increase cash of Apollo or expire worthless and reduce potential dilution from previous financing. Bobwins

Canadian Small Caps

 
Canadian Small Caps

CLICK HERE to view the presentations from the Spring 2016 Small-Cap Conferences.

We are pleased to publish the PowerPoint presentations from The Small-Cap Conferences that were held in Calgary on March 30, 2016 and in Vancouver on May 3, 2016.

We encourage investors to review the presentations and contact the companies with any further questions.

www.smallcapconference.ca/presentations.php
plus

What's New