{
  "docId": "019dd923-622c-750b-8b96-91b6b54834a7",
  "docSlug": "9776de5e0578",
  "documentTitle": "Asanko Gold Inc. (AKG)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-05-31 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 6,
  "pageCount": 43,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "research-note",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "This is a text-heavy research note page focusing on financial distress and management credibility.",
  "elementsJson": [
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b96-91b6b54834a7/6",
  "deckHref": "/decks/019dd923-622c-750b-8b96-91b6b54834a7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b96-91b6b54834a7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-91b6b54834a7#slide-6",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We doubt the company can avoid an expensive debt restructuring in the next 12 - 18 months.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-203c-716b-be70-32e19347b00e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "cash flow: $165 million",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-203c-716b-be70-34ad97f0152a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.76,
        "x": 0.118,
        "y": 0.09
      },
      "kind": "paragraph",
      "text": "The text details AKG's hiring of Philip Bentley, liquidity crisis risks, management's misleading communication, and the poor track record of its leadership team.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cd753ed1-811e-4f60-bdf4-b01b3296f4e0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.76,
        "x": 0.118,
        "y": 0.735
      },
      "kind": "source-note",
      "text": "Footnotes 9-16 detailing sources for financial claims and management history.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cb2f5ea9-87fe-4913-b8e8-ae74b7672a08",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.52,
        "x": 0.118,
        "y": 0.695
      },
      "kind": "title",
      "text": "Nkran: Putting AKG Between a Rock and a Hard Place",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e8ec69ef-6569-46c5-9ab5-31532f2eddee",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Thesis archetype",
      "slug": "thesis-archetype",
      "agent": null,
      "layer": "slide",
      "matchId": "5f9c5d71-4c98-4c2d-be68-f8b747469aea",
      "evidence": "We doubt the company can avoid an expensive debt restructuring in the next 12 - 18 months.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "7007236c-1d6b-4631-9fed-7e1fc5d9e508",
      "evidence": "The text explicitly calls out management's 'spurious claims' and 'deceptions' regarding financial health.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}