No money is the biggest drawback here.Marcy tried to do a PP recently around 13 cents "November 18, 2015 - Durango Resources Inc. (the "Company" or "Durango") has arranged a non-brokered private placement of up to three million units at 13 cents for total gross proceeds of $390,000." when the stock was at 5 or 6 cents. Now at 3 cents what kind of PP is going to happen ? and which bank will back the high risk mining venture stocks ?
No chance of a stock roll back for even a 2 for 1 to do a PP at 5 cents ? Not good.
I have held a few for a while but cannot see a PP happening and if it does, the lender will want a massive return or incentive.
Time will tell.