Muddy Waters – Asanko Gold Inc (AKG) Likely To End Up A ZeroGuest Post
We are short AKG because we believe it is highly likely to end up a Zero.
- On the back of flawed geology, AKG made investments in Nkran, its satellite pits, and Esaase that we believe will never be recovered.
- Nkran is already experiencing a serious collapse of its west wall that we believe is a sign of AKG’s desperation. We estimate AKG needs to spend $75 – $115 million soon to keep mining Nkran, or the mine will “pinch out”. Spending the money likely means AKG will run out of liquidity in 2018; not spending the . . .
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