Must be the underwriter who has been selling. 5% is alot of shares that maybe why there has been no notice yet.
I have seen so many quality companies charts where they were 50cents for example, then the next year 15cents, then year after 5cents, then two years later $2.90. This is not a junior explorer they are not building a risky operation, its all up to management to grow this patiently with as little cash burn as possible.
Super bargain, low risk but some risk of course, no dept.