I am actually happy. Saved a bundle exiting this fraudulent sector. Bet you 99 out of 100 people who invest in this sector wish they never heard of exploration stocks.
I believe you've painted the whole mining exploration sector as fraudulent with a broad stroke. I agree there are a lot of pump-and-dumpers in Canada run by fraudulent mining promoters. The old Vancouver Stock Exchange - the predecessor to the current TSX-V - was at one time derisively called 'The Scam Capital of the World' by Barron's Magazine. You've to be careful and do your own due diligence investing.
The best advice I can give anyone is to invest by buying only good management company. A case in point is Miranda Gold (MAD) which is managed by an experienced team led by Ken Cunningham and seasoned miners who were involved in major discoveries before. Well-known gold bugs such as Paul Van Eden, Rick Rule, Adrian Day & Sprott plus the Lundin Group & wealthy Europeans invested in MAD. The insiders control about half of the overall float.
As for current private placement, no responsible management would do a financing when its stock is near 52 weeks low unless it needs the money desperately. The only logical explanation to me is that MAD is filling up the trough with cheap shares for insiders, funds and wealthy investors and ready to blast off. It sounds unethical, but that's how it is in this world.