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4/19/18

All the evidence you'll ever need that Asanko Gold (AKG) is headed higher

Even after a dog's breakfast of a Q1 production announcement, AKG stock moves up on the day:


Right on schedule, this is a market saying, "We don't care any more, Gold Fields is taking away the debt and it's still going to produce 200k oz Au this year....optionality! Buy!". Also, as a more badly run gold miner is difficult to find, when GFI brings in its adult supervision it cannot get any  worse and will likely improve. This U$1.05/U$1.07 level is resistance, when it breaks AKG is going back to book value (around U$1.40) and Gold Fields gets its round of applause.

Disclosure: I'm long AKG since 93c a couple of weeks ago. Took on the trade specifically because of this as it's working as planned this shameless auto-pump post exists. Live with it.