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  "documentTitle": "Asanko Gold Inc. (AKG)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-05-31 00:00:00",
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  "notes": "The slide uses a table to expose a potential discrepancy in valuation methodology (using a $2,000/oz gold price vs peers' $1,200-$1,500/oz).",
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      "text": "As a $2,000/oz. price is ~60% higher than recent market prices and one which has NEVER been attained. Comparable mining companies appear to be ultra-conservative.",
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      "text": "Constraining Gold Price: $2,000",
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      "text": "AKG stated that it adopted the new MRE “to be prudent…[and] elected to use the more conservative.” However, the new “conservative” measured, indicated, and inferred mineral resources uses a $2,000/oz. gold price to define the gold pit shell.",
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      "text": "AKG’s justification for not releasing a new technical report after the major December 2016 downgrade to Nkran is that there was “no material change to the global reserve inventory”. We disagree that this justifies withholding the report.",
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      "text": "AKG updated its MRE, but failed to provide a new technical report. Despite significant changes to the company’s MRE, AKG did not release a new technical report.",
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      "text": "Gold Prices Used in Annual Resource Estimates As of Dec 31 2016 (USD)",
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