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Apolo Gold, Inc is engaged in financing and operating precious metals concessions. As of June 30, 2003, the Company had one property being developed, the Nepal Umbar Picung (NUP) property in Sumatra, Indonesia. On April 16, 2002, Apolo Gold executed an agreement with Pt. Metro Astatama, of Jakarta, Indonesia, for the mining rights to property west of Bandar Lampung, on the island of Sumatra, Indonesia. The NUP is 733.9 hectares in size and the agreement gives Apolo an 80% interest while its partner, Metro Astatama has 20%. The NUP property has characteristics of Indonesian volcanic-hosted, low-sulphidation, ephitermal gold-silver deposit Mio-Pliocene age, hosted within the Sunda magmatic arc and spatially associated with the Sumatra Fault System. The property displays high silver to gold ratios such as most of the Sunda arc deposits.