Apollo Gold (AGT)

[SOUTHPEN]

As a long time shareholder i feel it is appropriate for me to say the positives and the negatives with the company.The negative is 72 million in debt and over 300 million shares ,fully diluted. When the warrants are used it will bring 20 million more into the treasury.The lender of the 72 million is the holder of most warrants.With that said it is unlikely that AGT will ever really have any serious financial problems since it is the best interest of the lenders for AGT to not only survive but to prosper.The media has been rough on this little Gold company.The payback schedule was never realistic.The Lender knows that now and is happy to change payment details to ensure AGTs success.BF is doing great and GF and PR are almost certain to add to the resource in an economically agreeable way.When the notes are paid AGT will flourish.It is great to have a solid producer with an excellent mill bought and paid for as well as huge potential for future growth in Ontario.