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Tough market for explorecos?

Yup, tough market.

This from October 24th:

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2013) -
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") announces that it intends to complete a non-brokered private placement financing of up to 26,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $1,300,000 (the "Offering").
Each Unit consists of one common share (a "Common Share") and one Common Share purchase warrant (a "Warrant") of Bellhaven. Each Warrant entitles the holder to acquire one Common Share of the Company's stock at a price of $0.08 for a period of 36 months following the closing date of the Offering. The securities issued pursuant to the Offering will be continues here
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2013) -
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") announces that, further to its news release of October 24, 2013, the Company has closed the initial tranche of its private placement, issuing 2,550,000 units for gross proceeds of $127,500. Continues here
Or in other words, a deeply discounted placement with a full warrant runs for nearly a month and attracts about 10% of the total book. Betcha Bellhaven is glad they spent all that money in getting proven junior mining fraudster Thom Calandra in as their retail promo guy; he's clearly making a difference to their fortunes and going the extra mile for BHV.