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  "docSlug": "9776de5e0578",
  "documentTitle": "Asanko Gold Inc. (AKG)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-05-31 00:00:00",
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  "notes": "The slide uses a table to quantify the downgrade in value and tonnage resulting from the updated CSA Global MRE compared to the prior CJM estimates.",
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      "text": "The net effect was to downgrade Nkran's value by approximately $490 million.",
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      "kind": "disclaimer",
      "text": "For information on internal questions about grades, see the Technical Presentation dated 2016-05-11... Page 26 of 43",
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      "text": "gold reserves: $490 million",
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      "kind": "paragraph",
      "text": "CSA Global generated constrained and depleted MREs for Nkran and Dynamite Hill as of December 31, 2016. CSA Global also performed a review of Esaase, but did not rerun its MRE. AKG’s December 2016 MRE is the combined product of two different consultants.",
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      "kind": "paragraph",
      "text": "Even with CSA’s lower reserve grades of 2.03 g/t, AKG is falling short. In Q1 2017, reported grades for the quarter were only 1.8 g/t, or -11% below the stated reserve grades.",
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      "kind": "quote",
      "text": "Since Q3 2015 mining consistently reported variances in ore tonnage and grade relAdve to DPP plan - more tons - lower grades — Technical Presentation dated 2016-05-11.",
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      "text": "Nkran Dec 2016 Proven & Probable Reserves Dec 2016 MRE. CJM Constrained and Depleted vs. CSA Updated Results.",
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      "kind": "title",
      "text": "The December 2016 MRE seems to true up Nkran geology flaws, but still raises questions",
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