PPThe private Placement could be looked at in two different ways:
1) Management wanted to line the pockets of friends/relatives before the stock takes a vertical run into the dollar range.
2) Management wants to get some cash for exploration and operating costs while the share price is still over .30 , because impending bad news is going to send it into the .20's .
Either scenario is possbile. I am leaning towards #2 at the moment. Yesterday I was a total believer in #1.