RE:RE:RE:RE:RE:ncibApril end shares o/s were 3,674,000 and suspect they have got another 10k this month (#9 has buyback).
HNR had 2,945,765 as per the annual information form (see note under directors table in AIF)
However....
The HNR total only includes those entities affiliated with HNR. It does not include directors and officers including Duncan himself for instance.
There have also been numerous "gifts" reported on SEDI over the years that came out of the HNR total. I have said before that I doubt these gifts went to entities (say a charity) that would sell for cash. They spend far too much effort accumulating shares for that to occur. Rather I believe they likely went to extended family (grandkids) or some such.
Also there could well be entities within their sphere that do not fall under the stricter HNR definition.
Reported Institutional shareholdings as would find on bloomberg (but I track much more closely and on timely basis) is down to approx 150k (from 750k in 2013)
All that said, my guess is the true float in much lower than 650k. My gut tells me sub 400k????