UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MAY 12, 2004


                             APOLLO GOLD CORPORATION
             (Exact name of registrant as specified in its charter)



     YUKON TERRITORY,
          CANADA                        1-31593             NOT APPLICABLE
(State or other jurisdiction of       (Commission          (I.R.S. Employer
 incorporation or organization)        File Number)       Identification Number)


       4601 DTC BOULEVARD, SUITE 750
             DENVER, COLORADO                        80237-2571
   (Address of principal executive offices)          (Zip Code)


       Registrant's telephone number, including area code: (720) 886-9656


                                    NO CHANGE
          (Former name or former address, if changed since last report)








ITEM 12.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

      On May 12, 2004, Apollo Gold Corporation issued a press release reporting
its first quarter 2004 financial results. A copy of this press release is
attached hereto as Exhibit 99.1 and is incorporated by reference herein.

        The information in this Form 8-K, including Exhibit 99.1, is being
furnished and shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, nor shall information be deemed incorporated by
reference in any registration statement, proxy statement, or other report filed
under the Securities Act of 1933 or the Securities Exchange Act of 1934, unless
the Company specifically incorporates that information into such documents by
reference.


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                                    SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

      Date:  May 12, 2004

                                  APOLLO GOLD CORPORATION


                                  By: /s/ R. LLEE CHAPMAN
                                     -------------------------------------------
                                      R. Llee Chapman
                                      Vice President and Chief Financial Officer



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                                  EXHIBIT INDEX


      Exhibit
        No.      Description
      --------   ---------------------------------------------------------------
       99.1      Press release of Apollo Gold Corporation, dated May 12, 2004,
                 reporting first quarter 2004 financial results.