FWIW, the percentage of issued shares held by the top twenty registered shareholders:
25/1/2018 (per list posted by miningnut): 82.5%
2016 Annual Report: 78.4%
2015 Annual Report: 83.6%
2014 Annual Report: 78.7%
2013 Annual Report: 77.9%
There isn't enough data to assert that there is any kind of trend, but if I had to guess I'd say that relatively strong hands were doing some accumulation last year.
Top20 shareholders, page-20
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