Tightly Held

I knew the directors had a large stake in the company, but didn't realise it was circa 40%.The top 20 and management held over 50% of outstanding shares at the time of the last annual report. The below stats are prior to the recent rights issue (which I don't expect would have changed anything significantly given board participation in the rights issue and recent on-market trades, they may even hold a larger % of outstanding shares now):

http://moretonresources.com.au/investor-centre/

With less than 50% of outstanding shares in the hands of smaller traders and investors it does make trade fairly illiquid, however this will likely be to shareholders advantage in the case of significant positive news (with few outstanding sellers). Have been watching over recent weeks and overhang of sellers appears to be disappearing gradually. With the appearance of dozens of interested buyers (indicative by number of buy orders), if the AAT decision goes in favour of MRV (or in the event of the ore processing plan being viewed favourably), they may be forced to chase if interested in a position and we could see the share price gap higher significantly.