UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-K/A


                [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003

                        COMMISSION FILE NUMBER: 001-31593

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

                                -----------------


          YUKON TERRITORY                           NOT APPLICABLE
    (State or other jurisdiction of        (I.R.S. Employer Identification No.)
     incorporation or organization)


                          4601 DTC Boulevard, Suite 750
                           Denver, Colorado 80237-2571
           (Address of Principal Executive Offices Including Zip Code)

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

                                -----------------

        SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: None

           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
                           Common Stock, no par value

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  Yes [X]  No [_]

Indicate by a check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  [_]

Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act).  Yes [_]  No [X]

As of March 15, 2004, the approximate aggregate market value of voting stock
held by non-affiliates of the registrant was $147,811,000 (based upon the
closing price for shares of the registrant's common stock as reported by the
American Stock Exchange on that date). Shares of common stock held by each
officer, director, and holder of 5% or more of the outstanding common stock have
been excluded in that such persons may be deemed to be affiliates. This
determination of affiliate status is not necessarily a conclusive determination
for other purposes.

As of March 15, 2004, the registrant had 75,031,198 shares of common stock, no
par value per share, outstanding.





<PAGE>


Apollo Gold Corporation is amending Item 8 of its Annual Report on Form 10-K
for the year ended December 31, 2003 to add to the Independent Auditors report
for the three years ended December 31, 2003 the signature of the independent
auditors, which was inadvertently omitted from its previous filing of the
Form 10-K on EDGAR.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTAL DATA

INDEPENDENT AUDITORS' REPORT

To the Shareholders of Apollo Gold Corporation

We have audited the consolidated balance sheets of Apollo Gold Corporation as at
December 31, 2003 and 2002 and the consolidated statements of operations and
deficit and cash flows for each of the years in the three-year period ended
December 31, 2003. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in connection with Canadian generally accepted auditing
standards and auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform an audit to obtain
reasonable assurance whether the financial statements are free of material
misstatement. As audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, these consolidated financial statements present fairly, in all
material respects, the financial position of the Company as at December 31, 2003
and 2002 and the results of its operations and cash flows for each of the years
in the three-year period ended December 31, 2003 in accordance with Canadian
generally accepted accounting principles.

/s/ Deloitte & Touche LLP
Chartered Accountants
Vancouver, British Columbia
March 5, 2004


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<PAGE>


                                   SIGNATURES

           Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

APOLLO GOLD CORPORATION

/s/ R. DAVID RUSSELL
--------------------
R. David Russell, President and
Chief Executive Officer

July 1, 2004


           Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>

SIGNATURE                      TITLE                              DATE
---------                      -----                              ----
<S>                            <C>                                <C>
/s/ R. DAVID RUSSELL           President and                      July 1, 2004
--------------------           Chief Executive Officer and
R. David Russell               a Director


/s/ G.W. THOMPSON              Chairman of the Board of           July 1, 2004
-----------------              Directors and a Director
G.W. Thompson


/s/ R. LLEE CHAPMAN            Vice President, Chief              July 1, 2004
-------------------            Financial Officer, Treasurer
R. Llee Chapman                & Controller


                               Assistant Secretary and
------------------             a Director
Michael Hobart


/s/ CHARLES E. STOTT           Director                           July 1, 2004
--------------------
Charles E. Stott


/s/ ROBERT A. WATTS            Director                           July 1, 2004
-------------------
Robert A. Watts


                               Director
----------------
W.S. Vaughan


/s/ GERALD J. SCHISSLER        Director                           July 1, 2004
-----------------------
Gerald J. Schissler

</TABLE>


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