Ann: Operational Update Bitterwasser Lithium Clays, page-11

Guess some of us already know, but anyways I'm sharing my findings after some digging as I saw this question was asked a few times in a few posts here.

The reason is that AM7 has ~51m of shares on escrow. Below is the breakdown:

Total shares in issue: 85,500,100
Shares held on escrow: 51,300,100
Shares traded on the ASX atm: 34,200,000

HC, ASX site is using the total shares in issue so it's ~$18m today, while CommeSec and even AM7 investor page is showing ~$7.5m which is "misleading" as it excludes the shares on escrow.

Also found that the IPO price was $0.185 but not $0.2 like many others.