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May 31 (Reuters) - Muddy Waters:
* Muddy Waters shorts Asanko Gold Inc
* Muddy Waters says "on the back of flawed geology, AKG made investments in Nkran, its satellite pits, and Esaase that we believe will never be recovered"
* Muddy Waters says it estimates AKG needs to spend $75 – $115 million soon to keep mining Nkran, or the mine will "pinch out"
* Muddy Waters says spending the money on mining Nkran likely means AKG will run out of liquidity in 2018
* Muddy Waters says not spending the money on mining Nkran leaves AKG without the cash flow to develop its largest deposit, Esaase
* Muddy Waters says AKG's "satellite deposits" are unlikely to yield significant cash flow, due to likely flawed geology
* Muddy Waters says there are indicia that some of AKG's resources models have been "smeared", which would cause estimates of their ore contents to be inflated For a related story, click Source text: bit.ly/2rEQDw5 Further company coverage: