"I guess a big proportion of Fridays 17mil would have been...

"I guess a big proportion of Fridays 17mil would have been placement shares."

My take I'd say those placement shares are being held tightly, more of a gift/token placement at the price. Selling has probably been Trojan who sold 2,390,467 on the 8th October & 2,600,000 on the 10th of October I guess it's speculative if they are selling more or if that was them done ? But Gizzard had pretty good IRIS data showed a bulk of commsec trades so a lot of the selling could also just be speculators soaking & traders in / out big holders aren't giving anything up ? it's what you get with a tight registry.

Outside of the Top 20's 190M there's less than 42M shares floating around.