Another thing to note from the presentation is just how tight...

Another thing to note from the presentation is just how tight the register is, with 40 individuals/entities controlling 60% of ARL alone. And I can imagine a fair few of them are here, alongside the next 40 or so. Very different to companies with 10,000 shareholders all holding small parcels. It seems our shareholders have high conviction and are willing to hold large $ amounts of ARL.

That's quite impressive when one considers this is in the spec end of the market. It's no small joke to have hundreds of thousands in capital deployed for a spec stock.