Well the trading is saying that they won't be closing that placement anytime soon.  They will need to wait until the market improves before thinking about next steps.  I wonder if they considered approaching Silver Standard to do the placement?  If the targets are as prospective as management thinks, Silver Standard should also be very interested in the project.  This will give them an early foot in the door in case a discovery is made.  In this environment, it may be the only hope to get funds to drill this thing out.