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):  JUNE 24, 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 5. OTHER EVENTS AND REGULATION FD DISCLOSURE

     On  June  24,  2004, Apollo Gold Corporation terminated the Revolving Loan,
Guaranty  and  Security  Agreement  between  Apollo Gold, Inc. and Standard Bank
London Limited dated June 25, 2003.  There were no amounts outstanding under the
Agreement at the date of termination, and the Company had not borrowed under the
Agreement  since  the  third  quarter  2003.



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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: June 29, 2004

                                 APOLLO GOLD CORPORATION


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


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