For what its worth, heres The Grim Reaper's 2 cents worth on the subject,

I doubt seriously that the company would post a public news release these days, stating that they are moving forward with their drilling program on the Nolan Gold project if they didn't find some kind of financing for the operation.

We will just have to wait for further news about possible financing and that is what the shorts want to see first, before they make the descion to cover their massive short positions.

The Grim Raper will bet the day we see a huge stampede to buy Silverado stock, will be the day the shorts begin to cover, and when that day happens, you can bet, we will see big spikes upwards in price on the chart as the shorts scramble to cover. Day traders live for those big price spikes on the chart so they can short it back down to fill the gaps

I'll find time to put together another chart for you guys sometime tomorrow after trading hours. Saturday moring at the latest.