Ann: Directors acquire Cazaly Holding in Winmar , page-11

re: Ann: Directors acquire Cazaly Holding in ... WINMAR CALMS

Meanwhile, the potential for any disharmony between the shareholders of the junior iron ore company named after the former St Kilda AFL player Nicky Winmar has been averted.

It is about four months since the Albert Wong-chaired Winmar Resources saw off an ''opportunistic'' scrip takeover bid by Dempsey Minerals, a company headed by Winmar's former director Nathan McMahon.

Now Wong (best known as the business partner to the former NSW Premier Neville Wran) appears relieved about his latest deal.

He has bought out (along with his fellow directors) the 3.2 per cent stake held in Winmar by the other company run by McMahon, Cazaly Resources (also named after a former St Kilda player).

''We're just taking the opportunity to increase our shareholdings,'' said Wong last night about the $300,000-odd share purchase. Cazaly will remain a partner in Winmar's Hamersley Iron Ore Project in the Pilbara.


Do your own calculation.