{ "schemaVersion": "deck-intelligence.v1", "id": "019dd923-622c-750b-8b96-887fc16266b2", "slug": "fec10e6c84a3", "title": "Asanko Gold Inc. (AKG)", "subtitle": "Muddy Waters · 2017-06", "author": "Muddy Waters", "date": "2017-06-05 00:00:00", "pageCount": 12, "kind": "activist-deck", "orientation": "landscape", "aspectRatio": 1.3333334, "targetCompany": "Asanko Gold Inc.", "targetTicker": "AKG", "document": { "id": "019dd923-622c-750b-8b96-887fc16266b2", "slug": "fec10e6c84a3", "title": "Asanko Gold Inc. (AKG)", "rawTitle": "MW AKG Puppies and Rainbows 20170605", "authorId": "51_Muddy_Waters", "authorName": null, "authorDisplay": "Muddy Waters", "kind": { "slug": "activist-deck", "label": "Activist deck" }, "sourceType": { "slug": "short_seller", "label": "Short seller" }, "fileName": "2017-06-MW_AKG_Puppies_and_Rainbows_20170605.pdf", "sourceUrl": null, "sourceDate": null, "presentationDate": "2017-06-05 00:00:00", "ingestedAt": "2026-04-22 19:26:50+00", "status": "ready", "pageCount": 12, "orientation": "landscape", "aspectRatio": 1.3333334, "targetCompany": "Asanko Gold Inc.", "targetTicker": "AKG", "metadata": { "local_root": "/tmp/legacy-images/fec10e6c84a3", "activist_firm": "Muddy Waters Research", "origin_corpus": "contrarian", "extraction_seconds": 95.36205792427063 } }, "coverage": { "pageCount": 12, "pagesIndexed": 12, "pagesWithImages": 12, "pagesWithMetadata": 12, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 39, "chartCount": 0, "metricSlides": 0, "toolMatches": 2, "documentToolMatches": 2, "frameworkMatches": 5, "arcMatches": 1, "beatMatches": 3, "loopMatches": 3, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": false, "reviewAvailable": false, "activistThesisAvailable": true, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "evidence": "The sequence of expose_contradiction slides suggests a problem-agitate-solution narrative arc.", "isPrimary": true, "confidence": 0.8, "extraction": { "at": "2026-07-16 21:58:15.402049+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 4, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 4, "name": "Problem (Identify pain)", "beatId": "d313bcc6-b0b9-4113-a38c-2d289b03721e", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Problem (Identify pain)", "slug": "problem-agitate-solution-problem-identify-pain", "status": "active", "canonId": "019dd9b8-0e78-74bb-b8f6-54348367a131", "version": 1, "description": null }, "evidence": "The first expose_contradiction slide indicates the identification of a problem.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 7, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 5, "name": "Agitate (Make it worse)", "beatId": "cb4af95c-adde-4e2e-b549-f07e97893d68", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The series of expose_contradiction slides escalate the issues.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 8, "loop": { "name": "08_analogy", "slug": "08-analogy", "status": "active", "bestFor": "Complex concepts, new markets, technical explanations for non-experts", "canonId": "019dd956-6901-7032-ba44-96eaed94c949", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Familiar Domain -> Key Parallel -> Applied to Our Situation -> Insight", "description": "Explain the unfamiliar through a well-understood parallel domain", "familyLabel": null, "categoryName": "Explanation", "categorySlug": "explanation" }, "matchId": "2dad9bac-cbe5-4089-8f0d-8ca6d3b69f02", "evidence": "The question posed in slide 8 implies an analogy loop.", "position": 0, "objective": "What is the justification for including inferred ore and ounces in depletion from reserves?", "confidence": 0.7, "extraction": { "at": "2026-07-16 21:58:15.551518+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 10, "from": 9, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null, "categoryName": "Analysis", "categorySlug": "analysis" }, "matchId": "774dfaae-f18b-4176-b730-301592cf6ca6", "evidence": "The question about executive stakes suggests an iceberg loop.", "position": 1, "objective": "What are the implications of Messrs. Breese and Steyn's stake sales?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.649773+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 11, "from": 10, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null, "categoryName": "Urgency", "categorySlug": "urgency" }, "matchId": "f0ec566d-12da-4916-a160-94aa4035eb81", "evidence": "The question about stockpile disclosure implies a cost of inaction loop.", "position": 2, "objective": "What are the consequences of not disclosing stockpile information?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.686458+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "tools": [ { "tool": { "name": "CEO quote contradiction", "slug": "ceo-quote-contradiction", "status": "active", "bestFor": "When management credibility is the lever", "canonId": "019dd9e1-52e9-717f-8454-93e627563ed6", "version": 1, "bodyDocId": "019dd9a1-8296-720d-8f51-da76937f9415", "description": "You reproduce management's own words — verbatim, with source and date — and\nthen place them next to the outcome that contradicts them. The CEO built\nthe rope; you put it around their own neck.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "fc31a70e-9a34-45b5-8137-b3d17319e814", "evidence": null, "pageRefs": null, "priority": null, "whenToUse": "When management credibility is the lever", "confidence": null, "extraction": { "at": "2026-04-29 12:07:50.005477+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- **Maximum credibility**: no adjective you could write is as damning as the\n target's own prior statement.\n- **No rebuttal path**: management can't argue they didn't say it.\n- **It forces accountability onto a person**, not an institution — even if\n you aren't explicitly naming a villain elsewhere.\n- **Reporters amplify it**. A CEO-quote-contradiction slide is quotable,\n which means it lands in WSJ/FT/Bloomberg coverage.", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Villain naming", "slug": "villain-naming", "status": "active", "bestFor": "When governance or specific decisions are the core thesis", "canonId": "019dd9e1-55a4-74db-9314-0ced4cd46cd2", "version": 1, "bodyDocId": "019dd9a1-88f1-72ad-8f4e-56ec29d7b369", "description": "You identify a **specific person** responsible for the target's underperformance\nor the behaviour you want changed — and name them. Not \"management\" or \"the\nboard\". A named executive or director with a specific failure attributable to\nthem.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "2090ccbc-b693-485c-ad62-9b637821d3dc", "evidence": "Peter Breese (CEO) and Colin Steyn (Chairman)", "pageRefs": null, "priority": null, "whenToUse": "When governance or specific decisions are the core thesis", "confidence": null, "extraction": { "at": "2026-04-29 12:07:50.005477+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- **Accountability needs a face.** Voters (shareholders, regulators,\n journalists) act faster against people than institutions.\n- **Credibility rises with specificity.** \"The CFO has repeatedly missed\n guidance\" > \"Management has missed guidance\".\n- It **pre-empts evasion**. An individual can be removed; an abstraction\n cannot.\n- It **forces the target to respond personally** — and their defensive\n response usually generates more attention for your thesis.", "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "80bde353-91bc-4f39-a8ce-706bd31c3382", "evidence": "Contrasts company statement with external research data", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "abba5d14-5a20-4e7b-b3e2-222718f9e3f8", "evidence": "Contrasts company statement with IR email data", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:04:59.163+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "6db7d259-0341-4f5e-992d-eb4d31e8fa5f", "evidence": "The slide directly questions a specific disclosure change to imply potential fraud or concealment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:04:59.35+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "fraud-exposure" }, { "matchId": "47ae690a-2440-4fc4-884d-22bae26ac916", "evidence": "The slide frames the company as dismissive and lacking transparency.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "frameworkName": "antagonist-introduction" }, { "matchId": "6d80ca8f-2722-4319-8efa-53892e1a3ef9", "evidence": "Contrasts company statements with observed operational failures.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:05:02.125+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "frameworkName": "ceo-quote-contradiction" } ], "patterns": [] }, "storymakers": null, "score": null, "review": null, "activistThesis": { "tone": "adversarial", "notes": "Short follow-up to Muddy Waters' prior Asanko thesis. Structured as six management questions, each paired with satirical stock 'puppies and rainbows' imagery to mock management's optimism. Distinctive rhetorical device: direct drone images of active Nkran wall failures dated May 28, 2017 used as primary evidence. No explicit stake/target price disclosed. Ticker AKG listed on NYSE MKT/TSX.", "kpisCited": [ { "detail": "MW range of $75-115 million vs. management's denial of any need", "metric": "Nkran pushback capex estimate" }, { "detail": "$32.5 million = 9,443,500 shares at market", "metric": "Highland Park original stake" }, { "detail": "2.18%, with Steyn 2.4m and Breese 680,000 shares (~3.1m total)", "metric": "Current management/directors/officers ownership" }, { "detail": "Five or six new failures, with the latest materially bigger", "metric": "Wall failures since mining start (2015)" }, { "detail": "Included inferred ore and ounces — non-compliant", "metric": "Reserve depletion methodology (Feb 2017)" } ], "closingAsk": "Answer whether the repeated Nkran wall failures prove the geo-technical designs and MREs are flawed, or that management has deviated from them.", "extraction": { "at": "2026-04-22 19:26:50+00", "model": "unknown-legacy", "runId": null, "seconds": 95.36206, "promptVersion": null }, "scqaReward": "Honest answers would vindicate MW's estimated $75-115 million Nkran pushback cost and expose whether the mine plan, reserves, and insider narrative are overstated — supporting the short case.", "thesisTypes": [ "fraud_exposure" ], "top3Reasons": [ "Drone images show active cracking on both Nkran pit walls contradicting management's reassurances", "Management depleted reserves using inferred ounces, a non-compliant practice", "Insider share ownership collapsed from 9.4m to ~3.1m shares despite claims of no selling" ], "scqaSituation": "Asanko Gold operates the Nkran open-pit gold mine in Ghana and has publicly dismissed Muddy Waters' earlier concerns about pit stability, reserves, stockpile disclosures, and insider ownership.", "thesisSummary": "Muddy Waters' follow-up deck on Asanko Gold (AKG) poses six pointed questions to management after its initial short thesis. Recent May 28, 2017 drone images of the Nkran pit show west-wall failure in the transition zone and fresh cracking on the east wall, contradicting management's dismissal of the $75-115 million pushback cost MW estimated. MW flags non-compliant practices — including inferred ounces booked into reserve depletion in February 2017 and the quiet removal of high/medium/low stockpile disclosures in Q1 2017. MW also highlights an insider-ownership gap: Highland Park's original 9.4m-share stake has become ~3.1m reported shares for Breese and Steyn even as IR claims they 'have not sold any Asanko shares.' With five or six wall failures since 2015 and the latest one bigger, MW asks whether the geo-technical designs and MREs are flawed or simply ignored.", "primaryDemands": [ "Disclose full pushback cost expectations at the Nkran pit", "Explain inclusion of inferred ounces in reserve depletion (non-compliant)", "Clarify whether Breese and Steyn sold down their Highland Park stakes", "Restore disclosure of high/medium/low stockpile sizes and grades", "Publish all 3-D mine models, drill data, parameters and constraints underpinning the MREs", "Reconcile geo-technical designs/MREs with the growing frequency and size of wall failures" ], "scqaResolution": "Management must answer six specific questions covering pushback capex guidance, compliance of reserve accounting, insider share movements, stockpile disclosures, publication of MRE underlying data, and whether designs are flawed or deviated from.", "thesisOneLiner": "Asanko's reassurances on Nkran are 'puppies and rainbows': fresh drone images show wall failures, reserve accounting is non-compliant, and insider share counts don't reconcile with management's 'never sold' claim.", "precedentsCited": [], "scqaComplication": "May 28, 2017 drone images show active west- and east-wall failures at Nkran, reserve depletion uses non-compliant inferred ounces, stockpile disclosures quietly disappeared in Q1 2017, and insider share counts don't reconcile with management's 'no sales' claim.", "narrativeInterest": 4, "notableSlidePages": [ 1, 2, 4, 7, 9, 12 ], "peerCompaniesCited": [], "valuationFrameworks": [ "not_shown" ], "visualCraftInterest": 3 }, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "title": "Includes date and company logo.", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/Af5cl2Qt0ikTu0V64Q_tkHdqjSFyG--6HspVVDzLYGU/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9mZWMxMGU2Yzg0YTMvcDAwMS5wbmc", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 9, "componentCount": 4, "textChars": 89, "nDataPoints": 0, "notes": "Includes date and company logo.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:53.39+00", "seconds": 5.517, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/1", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-1", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.25, "x": 0.72, "y": 0.83 }, "kind": "image", "text": "Muddy Waters Research", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.39+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5d7d5509-cc0a-47de-839e-a4d9998b5a29", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "image", "text": "Aerial view of an open-pit mine", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Photo", "slug": "photo", "status": "active", "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875", "version": 1, "description": null }, "framework": null }, "subkind": "photo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.39+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "955bdecf-e27c-4f66-ab96-63448e818d5a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.08, "y": 0.7 }, "kind": "paragraph", "text": "June 5th 2017", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.39+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0c9afe19-69b8-429b-b7c4-6c6ec75ce51b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.08, "y": 0.65 }, "kind": "title", "text": "Six Questions for Asanko", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.39+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e15bdf05-34f9-4b9f-b56c-acd7f331b6b7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/LrPACo5HyN7mBnfJbDu_jer2wYJqbjcvJmFV0Ck1KPo/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9mZWMxMGU2Yzg0YTMvcDAwMS5wbmc", "imagePathAlt": "https://imgproxy.kitesheet.com/vCAIy3IoqKvdSKtua56UAriOcjPHW4EF_YjQoAsURBA/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9mZWMxMGU2Yzg0YTMvcDAwMS5qcGc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/NVroBnDYV1tV2cDP7LsGs5waITV1avxAYiPaw5FdxPU/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9mZWMxMGU2Yzg0YTMvcDAwMS5qcGc" }, { "page": 2, "type": "setup", "title": "The slide uses a sarcastic tone regarding management's statements.", "function": "transition", "rawType": "transition", "block": null, "metadata": { "slideType": "transition", "slideTypeCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-0693-7766-9f05-887f41f8e41e", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 4, "textChars": 389, "nDataPoints": 0, "notes": "The slide uses a sarcastic tone regarding management's statements.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:55.834+00", "seconds": 5.035, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/2", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-2", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.25, "x": 0.72, "y": 0.83 }, "kind": "image", "text": "MUDDY WATERS RESEARCH", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.834+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1c04118b-3539-4e0b-a5da-ccd7ef8efee1", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.8, "x": 0.1, "y": 0.35 }, "kind": "list", "text": "Six questions related to insufficient disclosures on share ownership, stockpiles, depletion and technical information.\nThree pictures of the Nkran pit from May 28, 2017, so investors can make their own judgement on the condition of Nkran.\nPictures of puppies and rainbows, which we feel is the theme of most of management's statements.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.834+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "be2bae71-ca6c-455d-bfed-62e227d9b169", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.1, "x": 0.1, "y": 0.25 }, "kind": "paragraph", "text": "Inside:", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.834+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d38b66b6-454e-4783-bda0-d8cb8d6b41a9", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.08 }, "kind": "title", "text": "6 Questions for management", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.834+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d65a55ed-c8d4-4247-975e-776542818af2", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 3, "textChars": 135, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:53.391+00", "seconds": 1.864, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/3", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-3", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.75, "w": 0.9, "x": 0.05, "y": 0.11 }, "kind": "disclaimer", "text": "By downloading from, or viewing material on this website, you agree to the following Terms of Service...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.391+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c8928d1c-f39f-4303-bcde-78efae910858", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.23, "x": 0.72, "y": 0.85 }, "kind": "image", "text": "MUDDY WATERS RESEARCH", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.391+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e1452e01-4196-4adf-9b5e-e92d834ce5cc", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.13, "x": 0.435, "y": 0.045 }, "kind": "title", "text": "Disclaimer", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:53.391+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b353c3f6-87a4-4dc8-b209-f4457e5da83f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 4, "type": "appendix", "title": "This slide uses visual evidence to support a claim of operational failure.", "function": "illustrate_case", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "illustrate_case", "functionCanon": { "name": "Illustrate case", "slug": "illustrate_case", "status": "active", "canonId": "019de52d-13b4-772c-bb73-1873612a7463", "version": 1, "description": null }, "density": "sparse", "densityScore": 6, "componentCount": 3, "textChars": 115, "nDataPoints": 0, "notes": "This slide uses visual evidence to support a claim of operational failure.", "elementsJson": null, "confidence": 0.9, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:56.074+00", "seconds": 2.785, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/4", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-4", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.298, "w": 0.365, "x": 0.083, "y": 0.54 }, "kind": "image", "text": "Inset map of mine site", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Photo", "slug": "photo", "status": "active", "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875", "version": 1, "description": null }, "framework": null }, "subkind": "photo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:56.074+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "87e41e3f-6dc8-4d15-b85c-c0b001c0e55c", "parentComponentId": null }, { "bbox": { "h": 0.5, "w": 0.62, "x": 0.338, "y": 0.078 }, "kind": "image", "text": "Aerial view of mine site", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Photo", "slug": "photo", "status": "active", "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875", "version": 1, "description": null }, "framework": null }, "subkind": "photo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:56.074+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b270e232-675b-4814-bbbd-fea6c0f22327", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.08, "y": 0.14 }, "kind": "paragraph", "text": "West wall failure as of May 28th probably within the transition zone.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:56.074+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c5ad0f98-bf65-4b3f-8378-e22d1d495421", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 4, "name": "Problem (Identify pain)", "beatId": "d313bcc6-b0b9-4113-a38c-2d289b03721e", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Problem (Identify pain)", "slug": "problem-agitate-solution-problem-identify-pain", "status": "active", "canonId": "019dd9b8-0e78-74bb-b8f6-54348367a131", "version": 1, "description": null }, "evidence": "The first expose_contradiction slide indicates the identification of a problem.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 5, "type": "tension", "title": "The slide uses visual evidence to highlight a physical problem at a site, likely to contradict company claims about operational stability.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 6, "componentCount": 3, "textChars": 106, "nDataPoints": 0, "notes": "The slide uses visual evidence to highlight a physical problem at a site, likely to contradict company claims about operational stability.", "elementsJson": null, "confidence": 0.9, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:55.873+00", "seconds": 2.231, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/5", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-5", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.77, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "image", "text": "Aerial view of mine site with inset zoom", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.873+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bbe55bf-f38d-4fc9-ab76-75e50a9fe805", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.25, "x": 0.72, "y": 0.83 }, "kind": "image", "text": "Muddy Waters Research logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.873+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ace00dc5-59b3-43e3-80bd-d8aecaee64aa", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.28, "x": 0.579, "y": 0.095 }, "kind": "paragraph", "text": "Cracking in the east wall as of May 28th", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.873+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a20a7a6c-fdfe-4aa6-9b00-a68677aa44fa", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 7, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 5, "name": "Agitate (Make it worse)", "beatId": "cb4af95c-adde-4e2e-b549-f07e97893d68", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The series of expose_contradiction slides escalate the issues.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 6, "type": "appendix", "title": "Used to visually document site conditions for an activist short report.", "function": "illustrate_case", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "illustrate_case", "functionCanon": { "name": "Illustrate case", "slug": "illustrate_case", "status": "active", "canonId": "019de52d-13b4-772c-bb73-1873612a7463", "version": 1, "description": null }, "density": "sparse", "densityScore": 6, "componentCount": 3, "textChars": 73, "nDataPoints": 0, "notes": "Used to visually document site conditions for an activist short report.", "elementsJson": null, "confidence": 0.9, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:55.914+00", "seconds": 2.247, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/6", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-6", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.29, "w": 0.35, "x": 0.615, "y": 0.535 }, "kind": "image", "text": "Overview of the mine site", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Photo", "slug": "photo", "status": "active", "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875", "version": 1, "description": null }, "framework": null }, "subkind": "photo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.914+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "25cc5393-2e54-4776-ba0a-c1cb8f789e6d", "parentComponentId": null }, { "bbox": { "h": 0.48, "w": 0.63, "x": 0.07, "y": 0.08 }, "kind": "image", "text": "Pit floor as of May 28th", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Photo", "slug": "photo", "status": "active", "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875", "version": 1, "description": null }, "framework": null }, "subkind": "photo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.914+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2df23f65-da0a-4f97-bc71-501caf5fb31d", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.15, "x": 0.738, "y": 0.125 }, "kind": "legend", "text": "Pit floor as of May 28th", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:55.914+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dfa3302b-28e2-4ceb-896a-09afd2ed226d", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 7, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 5, "name": "Agitate (Make it worse)", "beatId": "cb4af95c-adde-4e2e-b549-f07e97893d68", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The series of expose_contradiction slides escalate the issues.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 7, "type": "tension", "title": "Uses a sarcastic image of puppies and a rainbow to mock the company's denial of the issue.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 4, "textChars": 377, "nDataPoints": 2, "notes": "Uses a sarcastic image of puppies and a rainbow to mock the company's denial of the issue.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:05:00.632+00", "seconds": 4.549, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/7", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-7", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.44, "x": 0.28, "y": 0.47 }, "kind": "image", "text": "Puppies in front of a rainbow", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "23813b44-be5a-42dd-87b9-7bb886e8601b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.25, "x": 0.72, "y": 0.83 }, "kind": "image", "text": "Muddy Waters Research", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c9d88b3e-a79a-4520-8c1a-ab9183b67964", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.84, "x": 0.08, "y": 0.1 }, "kind": "paragraph", "text": "1. The foregoing very recent images show significant cracking on both the west and the east walls. You recently stated there is “no need for a $115 million pushback expense, as speculated by Muddy Waters”. In fact, MW gave an estimated range of $75 million to $115 million.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4e9af699-0633-468d-b0ab-68b00590b7fe", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.08, "y": 0.34 }, "kind": "paragraph", "text": "How much do you expect to spend on pushbacks at Nkran?", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "55412721-12b2-4d6a-ae7c-96c5c6662bf6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "80bde353-91bc-4f39-a8ce-706bd31c3382", "evidence": "Contrasts company statement with external research data", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:05:00.632+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 7, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 5, "name": "Agitate (Make it worse)", "beatId": "cb4af95c-adde-4e2e-b549-f07e97893d68", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The series of expose_contradiction slides escalate the issues.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 8, "type": "tension", "title": "The slide uses a sarcastic visual (puppies/rainbow) to mock the target company's reporting practices.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 3, "textChars": 148, "nDataPoints": 0, "notes": "The slide uses a sarcastic visual (puppies/rainbow) to mock the target company's reporting practices.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:58.292+00", "seconds": 2.181, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/8", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-8", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.45, "w": 0.74, "x": 0.13, "y": 0.385 }, "kind": "image", "text": null, "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:58.292+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f7f03d9-d6a9-4e3b-9b3e-3f6ccf0c84e6", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.72, "y": 0.83 }, "kind": "image", "text": "MUDDY WATERS RESEARCH", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:58.292+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "81d14675-c7d1-4631-a315-302a8952e539", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "title", "text": "2. Why did you include inferred ore and ounces in your depletion from reserves in February 2017 – isn't doing so non-compliant?", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:58.292+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e8bd6fa9-0e99-4d4a-a04e-48602edcc518", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 8, "loop": { "name": "08_analogy", "slug": "08-analogy", "status": "active", "bestFor": "Complex concepts, new markets, technical explanations for non-experts", "canonId": "019dd956-6901-7032-ba44-96eaed94c949", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Familiar Domain -> Key Parallel -> Applied to Our Situation -> Insight", "description": "Explain the unfamiliar through a well-understood parallel domain", "familyLabel": null }, "matchId": "2dad9bac-cbe5-4089-8f0d-8ca6d3b69f02", "evidence": "The question posed in slide 8 implies an analogy loop.", "position": 0, "objective": "What is the justification for including inferred ore and ounces in depletion from reserves?", "confidence": 0.7, "extraction": { "at": "2026-07-16 21:58:15.551518+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 9, "type": "tension", "title": "Includes a sarcastic image of a puppy with a rainbow, typical of Muddy Waters' aggressive/mocking style.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 22, "componentCount": 3, "textChars": 484, "nDataPoints": 4, "notes": "Includes a sarcastic image of a puppy with a rainbow, typical of Muddy Waters' aggressive/mocking style.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:59.163+00", "seconds": 2.956, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/9", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-9", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.34, "w": 0.46, "x": 0.27, "y": 0.533 }, "kind": "image", "text": "Puppy with rainbow", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:59.163+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "935bc52f-ddfd-4c2d-b89c-0aa3d965f54f", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.88, "x": 0.06, "y": 0.235 }, "kind": "list", "text": "The company just stated Messrs. Breese and Steyn “have not sold any Asanko shares”,\nHighland Park invested “$32.5 million as a management team” which was 9,443,500 shares at the then market price, but\nIR recently emailed an investor that “Management, directors and officers own 2.18%. Colin Steyn holds 2.4m shares Peter holds 680,000 shares” (total ~3.1 million shares)", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:59.163+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "05246b15-f33c-4e5b-8d6e-ac7d6eaaf45c", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.88, "x": 0.06, "y": 0.11 }, "kind": "title", "text": "3. Were Messrs. Breese and Steyn’s stakes always this immaterial, or did they in fact sell down?", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:59.163+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "95e10e1d-52dc-4acc-afc7-a78e21c24855", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "abba5d14-5a20-4e7b-b3e2-222718f9e3f8", "evidence": "Contrasts company statement with IR email data", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:04:59.163+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 8, "loop": { "name": "08_analogy", "slug": "08-analogy", "status": "active", "bestFor": "Complex concepts, new markets, technical explanations for non-experts", "canonId": "019dd956-6901-7032-ba44-96eaed94c949", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Familiar Domain -> Key Parallel -> Applied to Our Situation -> Insight", "description": "Explain the unfamiliar through a well-understood parallel domain", "familyLabel": null }, "matchId": "2dad9bac-cbe5-4089-8f0d-8ca6d3b69f02", "evidence": "The question posed in slide 8 implies an analogy loop.", "position": 0, "objective": "What is the justification for including inferred ore and ounces in depletion from reserves?", "confidence": 0.7, "extraction": { "at": "2026-07-16 21:58:15.551518+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 10, "from": 9, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "774dfaae-f18b-4176-b730-301592cf6ca6", "evidence": "The question about executive stakes suggests an iceberg loop.", "position": 1, "objective": "What are the implications of Messrs. Breese and Steyn's stake sales?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.649773+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 10, "type": "tension", "title": "The use of the 'puppies and rainbow' image is a rhetorical device intended to frame the company's behavior as childish or deceptive.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 4, "componentCount": 2, "textChars": 132, "nDataPoints": 0, "notes": "The use of the 'puppies and rainbow' image is a rhetorical device intended to frame the company's behavior as childish or deceptive.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:04:59.35+00", "seconds": 2.895, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/10", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-10", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.425, "w": 0.592, "x": 0.208, "y": 0.373 }, "kind": "image", "text": "Puppies and rainbow illustration", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:59.35+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6ba91ab9-8f7c-47b8-8e36-fe739ec880ef", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.88, "x": 0.06, "y": 0.13 }, "kind": "title", "text": "4. Why did you stop disclosing the size and grade of your high medium and low stockpiles in Q1 2017?", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:04:59.35+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c0c25932-3c26-4c5b-8d62-b980c50cc02a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "6db7d259-0341-4f5e-992d-eb4d31e8fa5f", "evidence": "The slide directly questions a specific disclosure change to imply potential fraud or concealment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:04:59.35+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 10, "from": 9, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "774dfaae-f18b-4176-b730-301592cf6ca6", "evidence": "The question about executive stakes suggests an iceberg loop.", "position": 1, "objective": "What are the implications of Messrs. Breese and Steyn's stake sales?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.649773+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 11, "from": 10, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "f0ec566d-12da-4916-a160-94aa4035eb81", "evidence": "The question about stockpile disclosure implies a cost of inaction loop.", "position": 2, "objective": "What are the consequences of not disclosing stockpile information?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.686458+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 11, "type": "tension", "title": "The image is used as a sarcastic rhetorical device to mock the company's perceived lack of transparency.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 14, "componentCount": 4, "textChars": 288, "nDataPoints": 0, "notes": "The image is used as a sarcastic rhetorical device to mock the company's perceived lack of transparency.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:05:01.278+00", "seconds": 2.743, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/11", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-11", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.44, "x": 0.28, "y": 0.45 }, "kind": "image", "text": "Puppies in front of a rainbow", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0ce4584a-4e91-4760-90fd-9bfb81e132c0", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.72, "y": 0.083 }, "kind": "image", "text": "Muddy Waters Research logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2c5e9130-8f4f-4e85-ac30-cbd91accdf44", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.4, "x": 0.05, "y": 0.25 }, "kind": "list", "text": "all 3-D mine models,\nall drill data,\nall parameters and constraints", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e7756892-a20e-48dd-a84d-e474316a1dfa", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.1 }, "kind": "paragraph", "text": "5. You continue to dismiss criticism of your MREs. If you are confident your models and MREs are good, why do you not provide the following on your website (in full):", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "77836df9-5dbe-466a-9e6f-706913db495e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "47ae690a-2440-4fc4-884d-22bae26ac916", "evidence": "The slide frames the company as dismissive and lacking transparency.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 21:05:01.278+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "frameworkName": "antagonist-introduction" } ], "arcBeats": [ { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 11, "from": 10, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "f0ec566d-12da-4916-a160-94aa4035eb81", "evidence": "The question about stockpile disclosure implies a cost of inaction loop.", "position": 2, "objective": "What are the consequences of not disclosing stockpile information?", "confidence": 0.6, "extraction": { "at": "2026-07-16 21:58:15.686458+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 12, "type": "tension", "title": "Uses a sarcastic image of puppies under a rainbow to mock the company's optimistic stance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 3, "textChars": 379, "nDataPoints": 1, "notes": "Uses a sarcastic image of puppies under a rainbow to mock the company's optimistic stance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 21:05:02.125+00", "seconds": 2.647, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b96-887fc16266b2/12", "deck": "/decks/019dd923-622c-750b-8b96-887fc16266b2", "deckAnchor": "/decks/019dd923-622c-750b-8b96-887fc16266b2#slide-12", "deckJson": "/decks/019dd923-622c-750b-8b96-887fc16266b2.json" }, "components": [ { "bbox": { "h": 0.31, "w": 0.42, "x": 0.29, "y": 0.49 }, "kind": "image", "text": "Puppies under a rainbow", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Illustration", "slug": "illustration", "status": "active", "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615", "version": 1, "description": null }, "framework": null }, "subkind": "illustration", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:02.125+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8e370762-e8af-4dff-b7c7-44c7cdd1e68f", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.06, "y": 0.06 }, "kind": "list", "text": "You’ve said there were five or six new failures since you started mining in 2015, The latest failure is much bigger than those before it, You still don’t “expect the geo-technical designs of the mine to change materially”", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:02.125+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e140524c-86dd-4134-a7ef-eb0f319ad38e", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.06, "y": 0.38 }, "kind": "paragraph", "text": "6. Given the above facts, either a) the geo-technical designs and MREs are flawed, or b) you must have deviated from them. Which is it?", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 21:05:02.125+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8ee53b75-e58a-408a-9c72-9f1eb909b69e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "6d80ca8f-2722-4319-8efa-53892e1a3ef9", "evidence": "Contrasts company statements with observed operational failures.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 21:05:02.125+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 12, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 8, "name": "Solution (Provide relief)", "beatId": "e1030f85-74fd-4a15-9d42-7d787b1e3657", "matchId": "6d5cf21f-66a1-4eed-9143-9eaf56e86aa5", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The remaining slides continue to expose contradictions, implying a need for a solution.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true } ], "arcBeats": [ { "from": 4, "to": 4, "label": "Problem (Identify pain)", "description": "The first expose_contradiction slide indicates the identification of a problem." }, { "from": 5, "to": 7, "label": "Agitate (Make it worse)", "description": "The series of expose_contradiction slides escalate the issues." }, { "from": 8, "to": 12, "label": "Solution (Provide relief)", "description": "The remaining slides continue to expose contradictions, implying a need for a solution." } ], "loops": [ { "from": 8, "to": 9, "label": "Analogy", "description": "What is the justification for including inferred ore and ounces in depletion from reserves?" }, { "from": 9, "to": 10, "label": "Iceberg", "description": "What are the implications of Messrs. Breese and Steyn's stake sales?" }, { "from": 10, "to": 11, "label": "Cost Of Inaction", "description": "What are the consequences of not disclosing stockpile information?" } ] }