RE:Low turn out for private placement???
You pose a very good question. I wander what management would have to say about that?? You would think that the clowns now running this company would have some level of certainty before making an announcement like that and it sure looks like they had non. They seem to be on nothing more than a fishing expedition.
IMO - Prior leadership set this company up for failure with to big a focus on aquiring assets and no focus on properly managing the assets and cash they had at the time. They needed to focus on getting some exploration results as in this business, that is what gets share price up and investors interested. Current management is worse as they have accomplished nothing since taking over.
Its to bad really as they have a sizable land position ina prolific gold mining district, but zero cash to try and do anything.