Have a look at TLT's announcements and share register - it's 85% owned by two other organisations that very recently made an offer to buy out the other shareholders and take over. It seems that they did not acquire the 90% required to force a compulsory purchase of the remaining shares. The reasons for lack of trades in TLT are (1) the very small pool of a potential sellers - a small subset of that 15% pool of minority shareholders grimly hanging against the takeover, and (2) that the shares haven't been trading on the ASX above the takeover offer price so there's no incentive to sell on market.
(At the risk of staying off topic perhaps you could enlighten us as to why you consider Tilt better value than IFN - noting that one is probably not going to remain a TLT holder in the long run given the likelihood of the next takeover succeeding.)
