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Fred and Frieda a good combination

The chairman involved in last year’s acrimonious exit of PanAust’s founding managing director has evidently shown his faith in both the copper and gold company and new managing director Fred Hess by recently picking up a significant swag of shares.

Garry Hounsell paid more than A$126,000 (US$97,000) for 107,000 PanAust shares late last month, taking his direct stake in the company to 300,000 shares.