RE:Dumped a bunch...Gold could be up $500 and KLDX would drop Shorts dont always have to cover when getting squeezed to the updside, as much as I would have liked to seen it happen that way today.
Often the stock takes a sharp dive one last time before the short covering rally begins. That much short interest in a stock, presumably they would have the tools to dive the price down one last time before covering. 3.90 region is one target or a retest of the 3.57 low (cad dollars) could be in the cards before things get going.
That being said, this stock has performed miserably for quite some time, it could go one forever, like you say. Fundementally the picture for this company does keep getting better, and the shorts are playing with fire with the gold above 1300.
Klondex benefits are much larger to this elevated price of gold than a low AISC producer.