I think you all need to look at the 270M shares outstanding compared to the 12M short count. Even though any short covering would help the PPS after any announcement from positive developments all the way up to permit granted, according to Infojoe's chart we go up about .90 cents if every short covers (48% of $1.85).

I will agree that shorting here at this level is risky but I say go ahead and short if you want. :)