I've noticed the lack of institutional shareholders has been a...

I've noticed the lack of institutional shareholders has been a feature of the EXR share register since at least 2017, when the company first acquired the Mongolian gas project. I don't believe its a lack of confidence in the company, but more the fact EXR was a micro cap and there wasn't a reason to invest into it.

I'm currently reading a book about the Australian sharemarket titled Bulls, Bears and a Croupier and there is a section which lists various characteristics of a company which make it a perfect investment target. One of these characteristics described is a company that has a share register free of institutional shareholders, as it may potentially reap enormous rewards once the large instos take notice and begin to build their stake.

IMO, as EXR continues to open up new sub-basins and prove up their resources, it is inevitable that the company will come to the attention of the larger instos and when it does, that is when the real re-rate will happen. I can't wait for the days when the EXR share price fluctuates by 20c plus per day and not just pips.

Judging by the bot activity on the share price for months now, it appears some insto(s) have already started accumulating. AIMO and GLTAH.