new major shareholder list, page-3

The new list is indeed very good news to the investors and long term holders. There HAS NOT BEEN any dump from the major holders. In fact some have increased their holding by several hundred thousand each.
The selling has come from "Nominee" holders which confirms what ICN have said previously that an overseas investor has substantially downsized his Australian shareholdings. But, other nominee companies have taken their place and very significantly, new individuals have entered the Top 30 list. There was a loss from the nominee companies on just over 10 million shares, but, a new list of nominees and individuals have take up nearly 8 million of those.
Clearly, as andres and maverick116 have indicated, there has been quite an active day trader element also and their numbers have not been fully absorbed by the leading holders. It was an extremely volatile period from 16 April to now and with such a comparatively small company, to have been oversold by nearly 2 million shares at the top level, tells us why the share price has dropped from .63 cents to .225 cents in that time. No small company can withstand such selling imbalance.
But, that's how the market saw it during those turbulent times and we have to cop that decision. But, VERY comforting to know that the major individual holders have not deserted the ship and several new large holders have come on board.
Now, it is up to the company to deliver.