"Why not entertain the idea of completing a reverse stock split, or buy back shares from time to time?"
What good would a reverse stock split do? Would be meaningless in my estimation.
Buying back shares when they are simultaneously raising money to continue development?
As to your other points, well, okay. The merger seemed perfect, but the burn rate turned out to be quite high (that was known at the time of the merger, I think, but somewhat ignored), and I've never been tickled about the properties in S.A. - I'm just far more comfortable with Mexico.
Doing something about those nasty shorting entities is pretty darn tough. I think we gotta learn to live with the cockroaches.
The production numbers are the main thing that might drive some shorts out, so let's see, some are due shortly.
As to why the company continues to underperform after the merger - I think it's in the charter docs for the company that if it were to be sold, it would have to be sold to managers of the same ilk - LOL!