Marshes
We carried out a due diligence exercise on Range Industries before Range International was formed back in 2008.
Our syndicate did not end up investing.
We have followed the company with great interest and thought that we had made the wrong decision when Range International listed on the ASX with a very impressive valuation. The one that had got away.
However, the very same risks that were identified back in 2008 correlate very closely with the risks that have brought RAN to the brink.
Ann: Response to ASX Query Letter, page-16
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