The first reason was that Sheldon and Pintree were both buying on open market up until Jan 17-2012, which definitely helped to force the price of mega share value.
The second reason is that Jim has been doing what he promised to do, which was to spread the word around about Mega to the market.
The third factor is that the market already knows that 43-101 is coming out for MB which should add some value to the share price.
The forth factor is that market sentiment in general is slowly moving in the right direction regarding Gold mining and exploration companies.
The short players are slowly starting to cover their position rather than increasing their position.Although I do agree the short position is still very high.
All these factors are part of the reason as to why Mega share price is slowly moving upward.
People can't seem to get it. This play was hurt badly by short players dirty games.