todays west aust paper, page-4

No 2 here's the first part

No 2

Today's Article in the West by John Phaceas.

"Peeved GWR group aims to derail Fairstar Merger."

"The intrigue surrounding Fairstar Resources $200 million bid for Wiluna Iron ore hopeful GWR is deepening, with a group of dissident GWR shareholders believed to planning a boardroom shakeup to distance it from its smaller Osborne Park neighbour.

It is understood an independent group of GWR investors, who claim to control more than 37 percent of the stock, hope to use a shareholder's meeting scheduled for Sept 19 to pressure for an overhaul of the company's board.

The meeting has been called to confirm the appointment of three existing directors and ratify the prior issue of millions of shares and options to inject fresh working capital and reward a number of directors, employees, contractors and consultants.

The dissident group is understood to have been angry over GWR's performance and relationship with Fairstar since late last year. When talk first began circulating that plans were afoot to merge the two companies to formalise their already strong ties. Prospector John Doutch, who vended a number of key tenements into both companies, owns 23 percent of GWR and 14 percent of Fairstar. The companies also share Allan Rudd as non-executive director and operate out of the same Osborne Park office building.

......continued next post