Several reasons. One - The share price was butchered for 18...

Several reasons.
One - The share price was butchered for 18 months by one man during 2017. Those wanting to buy just steadily accumulated and they did. Top 20 has always increased in size.

Two - The first big turnaround which took us to 80 cents was hugely cut by a poorly worded and misunderstood ASX ann on the cantriail trials MTD. Note at this time Paul Hopper selling had ceased.

Three - in the next leg up to 60 cents we again encountered some small hostil selling that consolidated at around 45 cents and then of course Paul Hopper as soon as his share came out of escrowed started to repeat what he did last time. Once bitten twice shy no one is gong to buy when some one is hell bent in driving the price down.

Four - Funds are needed in the next 6 months as per presentations. Negative sentiment has set in. All most investors look at is the share price and trend. It is a self fulling cycle.
Only thing that is going to move.

Five - new conservative management have never over promised anything yet. And even surprised us with new deals. But the market remembers the glory days of overpriced spikes and huge volumes where quick bucks were made. WHich is a double edge sword. It makes a mockery of the last management's ability to deliver substance but they did deliver huge capital funding. And that is all people remember.

Now management is delivering substance but investors want spikes and volume to which management just don't seem interested in feeding.

In a nutshell. the below says it all. 6 to one ratio and yet the tiny sellers still rule the day.
35 buyers for 602,125 units
18 sellers for 101,799 units