Feb 15 (Reuters) - Apollo Consolidated Ltd (AOP) : Option...

Feb 15 (Reuters) - Apollo Consolidated Ltd (AOP) :

• Option agreement with Newcrest for seguela gold project (AOP)
• Says "option to purchase agreement executed over the company's 80% owned seguela gold project"
• Says under the terms of the option Newcrest will manage and fund up to two years' exploration on the property
• Newcrest will retain rights to repurchase the royalties at fair market value on a decision to mine being made
• Says option period shall run for up to two years with fees up to US$1.5M payable to mfr in tranches
• Says if Newcrest exercises the option it will make various progress payments totalling US$3.5M