Drop in shareholders likely due to 2 factors:
1) those that transferred shares from DTCC to EuroCCP when transferred to Merkur; and
2) FINRA now requires that holdings of shareholders whose whereabouts cannot be verified be remitted to the proper unclaimed funds division in the state where company is domiciled, in this instance, Nevada. Likely, occurred in last dividend round when the F-shares had been distributed. Recall Volcanic Gold dates back to 1974, i.e. many have either died, moved with no record of change of address, etc.