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Tough market for junior explorecos?

Yup, tough market for junior explorecos. Here’s El Tigre Silver (ELS.v) with its NR today

VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 25, 2012) – El Tigre Silver Corp. (ELS.V)(EGRTF)(5RT.F)
(“El Tigre” or the “Company”) is pleased to announce that it has closed
the first tranche of its previously announced non-brokered private
placement (the “Private Placement”) of 400,000 units of the Company
(“Units”) for aggregate gross proceeds of $100,000. Each Unit consists
of common share of the Company and one-half of a common share purchase
warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles
the holder to acquire an additional common share of the Company for a
period of 18 months from the date of issue at a price of $0.40 per
share.
In addition, the Company announces that it is continuing
with the Private Placement on the same terms and conditions as
previously announced in its May 2, 2012 news release, subject to
regulatory approval. The Company anticipates closing the second tranche
of the Private Placement on or before July 25, 2012.
This Private Placement is subject to continues

And here’s how that May 2nd NR it referenced begins:

Vancouver, B.C., May 2, 2012 – El Tigre Silver Corp. (“El Tigre” or the “Company”) (TSXV: ELS) (Frankfurt: 5RT) (OTCQX: EGRTF) is pleased to announce a non-brokered private placement for up to 12,000,000 units of the Company (“Units”) at a price of $0.25 per Unit for aggregate cash proceeds of $3,000,000. Each Unit will be comprised of one common share and one-half of a common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant will entitle the holder to acquire an additional common share of the Company for a period of 18 months from the date of issue at a price of $0.40. An 8% cash finders’ fee and warrants equal to 8% of the Units issued may be payable on all or a portion of the offering.

Sooooo, push comes to shove, ELS.v was after $3m and got $400k $100k* after seven weeks of marketing. Yup yup yup, tough market.

disclosure: no position in ELS.v, not now, not ever, not planning on one either.

*oops, ty commenters

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