You make some interesting valid observations, and also raise...

You make some interesting valid observations, and also raise some issues that should be improved by the ASX and ASIC. For instance, why is the Top 20 or 50 for that matter, not available on the company website?
Is this not a public company? I have tried to get current SLR Top 20 from the registry. After informing them I was a genuine SH, I was asked by a clerk, why I wanted the information (I felt like saying "none of your F'ing business). I replied that being a SH it was important information. I was then told I had to apply in writing by email for the information (WTF I hear you say), which I did. Subsequently, after a week or more, I received a reply denying my request (WTF). Searching online will get your old information, but not that which is current today. The only place on the SLR website I could find a Top 20 was in the Annual Report, and this as of the 21st Sept 2017, BUT it listed the Holders .... 1. HSBC Custody Ltd, 2.J P Morgan Nom Aust Ltd, 3. Citicorp Nom Pl...

No mention of VanEck, Ruffer, or Dimensional, the real top 3 owners .... opaque or purposefully misleading?
The real identity of the owner of shares should be revealed as done mostly by RED5 where the current top shareholders and top 10 are listed under "shareholder information". To try and make sense out of current share activity requires current information, especially if trying to understand short selling etc.
If a company says they place great weight on their institutional SH opinions then the rest of the SH's are entitled to know WTF they are ! This is a public company !

I would be very very surprised if SLR was contemplating a CR for corporate activity when the SP is so beaten down. CR in such circumstances indicate dire financial need such as when SLR did in 2013, but even then the SP was ramped up from 50c to 100c, before its waterfall to 14c. Cool Hand would never perform such a folly.
The best currency to use for M&A is a strong SP - otherwise its too dilutionary. If so much as a hint of M&A involving SLR with a credible counterparty was too emerge, the SLR SP would more than double in very short time .... wishful thinking. BRB is not a complete and compelling story yet - but I note that BRB has a price target by one broker analyst almost double its current SP based on comparisons with the metrics being applied to DCN and GOR valuations, which are being described as the best finds for over 20 years. Yet another example of the overvaluation of gold in the ground ?? Cool Hand will not be fooled by lipstick on a pig. He is a said to possess one of the best BS meters in the business.