Going back to the Top 20 shareholder list above. Although it is...

Going back to the Top 20 shareholder list above. Although it is a different view from the Annual Report Equity Holders, you can see some names on it to cross reference. Some key observations.

1) SIO holds their position
2) A number of the Top 20's have increased their holdings
3) Minimum holding to be in the Top 20 has gone from 20k shares to 25k. 25k last year would have already made you 14th largest.
4) In reality if we combine the Top 20 in last years Annual Report as it is here (multiple large holdings combined), 20th is down to 11th and 19th largest shareholder is already 8th in last years Top 20.. (approx)

So what it is telling me is that
a) Top 20 (with the exception of StarBright) have generally increased their holdings,
b) New Holders have entered the Top 20 and minimum to be in the Top 20 has increased. So consolidation going on amongst larger shareholders.

I wish the company would do an unmarketable parcel cleanup and see if they could get a fund to take up those shares as an entry point, that would be ideal.