Ann: Appointment of Jozsef Patarica as CEO and Managing Director, page-23

latest from Shaw's - rate STA as a Buy STA appoints Jozsef Patarica as MD upon the resignation of Luke Graham. While not a surprise to Shaw's the timing is earlier than expected. The company has also announced the recent modification to the wet concentration plant is resulting in a significant improvement in efficiencies. The broker suggests, with Chinese demand for heavy mineral concentrate uncertain, producing the final product of premium zircon and rutile becomes even more important.

Shaw's still calling upside once Coburn reaches full capacity. SP Target is reduced to $0.57 from $0.65 post the recent dilution from the capital raising.