its an issue of liquidity at a market cap of 32m and top 20...

its an issue of liquidity at a market cap of 32m and top 20 owning 83% that only leaves circa 6m as free float on the ASX for trading. 6m is not enough for anyone to take a serious position in this and any big trader would not want to take ownership via on-market trading.

Now if shareprice goes up, then 17% float is fine, but its also not going to go without enough volume to ensure a fair price.

GBE needs offtakes leading to a higher share price and then a share purchase plan that excludes the top 20 (not legal but yeah)