Tough market for juniors?

Yup, tough market. Here are three NRS from Northern Freegold to make the point:

On March 27th, NFR.v planned to raise $6m via a flow-thru placement:

Vancouver, BC: March, 27, 2012. Northern Freegold Resources Ltd. (NFR: TSX-V) ("Northern Freegold" or the "Company") is pleased to announce that it has entered into an agreement with Northern Securities Inc. ("Northern") in connection with a best efforts private placement of up to 21,428,571 flow-through units at a price of $0.28 per flow-through unit, for gross proceeds of up to $6.0 million (the "Offering"). Each flow-through unit will consist of one flow-through eligible common share and one-half of one non-transferable common share purchase warrant, with each whole warrant being exercisable to acquire an additional common share at $0.35.Continues here.

On April 24th, NFR.v changed the terms and allowed for cheaper, non-flow thru units:

Vancouver, BC: April 24, 2012. Northern Freegold Resources Ltd. (NFR: TSX-V) ("Northern Freegold" or the "Company") announces that the terms of the private placement previously announced on March 27, 2012 have been amended by the Company and the agent, Northern Securities Inc. (the "Agent").

The offering will now consist of a combination of flow-through units and non-flow-through units as described below. All other terms of the offering remain the same as described in the Company's press release of March 27, 2012.

The flow-through units will now be offered at $0.21 per flow-through unit, with each flow-through unit consisting of one flow-through eligible common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire an additional common share at $0.26 for 18 months from the date of closing.

The non-flow through units will be offered at $0.16 per non-flow-through unit. Each non-flow-through unit will consist of one non-flow-through common share and one-half of one non-transferable common share purchase warrant, with each whole warrant being exercisable to acquire an additional common share at $0.22 for 24 months from the date of closing. Continues here

Then today, May 10th, NFR.v closes the placement:

Vancouver, BC: May 10, 2012. Northern Freegold Resources Ltd. (NFR: TSX-V) ("Northern Freegold" or the "Company") is pleased to announce that the brokered private placement previously announced on April 24, 2012 has closed for gross proceeds of $756,500.

The Company issued 3,587,000 non-flow-through units and 869,333 flow-through units in the offering. Continues here

So they wanted $6m and after six weeks they managed to raise $0.75m before closing the book and taking the crumbs offered. Yup, tough market...