The latest from statistics provided by Yahoo finance shows short interest increased to 848,000 as of November 15th.  This is an increase from 556,000 on October 14th.  Funds are trying to depress the price for a return to the low $3 level.  Over the last 6-months shorting around $3.70 and covering around $3.00 has richly rewarded those on the short side.

My guesstimate is the majority of those 848,000 shares are breakeven or slightly under water.  The stock needs a nice move higher in Gold and those well fed shorts will become much leaner prey.