St. Andrew Goldfields takes 8% position in Apollo Gold
2006-12-14 18:15 ET - News Release
Also News Release (C-APG) Apollo Gold Corp
Mr. Glenn Laing of St. Andrew reports
ST ANDREW ANNOUNCES ACQUISITION OF STRATEGIC POSITION IN APOLLO GOLD CORPORATION
St. Andrew Goldfields Ltd. has acquired an approximate 8-per-cent interest in Apollo Gold Corporation, a Toronto Stock Exchange- and American Stock Exchange-listed company.
St. Andrew has today filed a Form 13-D filing with the United States Securities Exchange Commission that as of Dec. 4, 2006, it had acquired 7,860,003 shares of Apollo Gold and since that date has acquired an additional 3,450,697 shares for a total of 11,310,700 shares as of Dec. 14, 2006. As of Dec. 14, 2006, St. Andrew held an approximate 8-per-cent interest in Apollo Gold.
St. Andrew acquired these shares in the open market for investment purposes as part of its strategy to become a mid-tier gold mining company and exploration company through the acquisition of direct or indirect interests in gold properties in known gold belts located in stable political environments throughout the world. Depending on market conditions and other factors, St. Andrew may increase or decrease its holdings in Apollo Gold in the future.
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