By Ben Turney | Wednesday 23 April 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Despite Range Resources’ (RRL) best efforts to paper over the cracks with yesterday’s RNS, it was last Thursday’s announcement which really caught my attention. According to this, the company owes $6.5million to Platinum Partners, in separate loans, and this amount is due by April 30th. If news of these loans comes as a bit of a shock to you, I’m not surprised. Let’s just say that Range’s approach towards revealing details about this material change in its financial condition was, how to put this, a little unorthodox...
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