I think doublebagger is spot on. It's basically what I think as well, although I haven't spoken to any short hedgefund. It's a lack of buyers at present that keeps the price back, almost all buyers want to see "proof of concept" first before buying. The few buyers there are can be countered by the increased short count.
I'm very happy he talked to those funds though, although I was pretty sure there are no 'as of yet unknown' short 'arguments,' it's always nice to have that confirmed. The only wild card in the deck is PNG politics, but I think enough has improved there to see us through.
If they deliver, this is going to be a nice rally, and I don't see much reason why they will not deliver this time. Any half decent deal destroys the risk and the downside from here, and if things can't go down, you'll know where they'll go.. Too bad doublebagger isn't with us though..