Shareholder increases stake in Apollo Gold as part of acquisition strategy

By Lisa Kerner

Charlotte, N.C., Feb. 21 - St. Andrew Goldfields Ltd. increased its stake in Apollo Gold Corp. to 12.7% with the purchase of 1,1511,800 shares of the company's stock for an average price of $0.625 per share between Feb. 5 and Feb. 16, according to a schedule 13D filing with the Securities and Exchange Commission.

The total shares beneficially owned by St. Andrew Goldfields, which acquired the additional shares "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," now totals 18 million.

Apollo Gold is a Greenwood Village, Colo., gold and byproduct metals exploration company.

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