In the last month or so from GXY lowest of low (81.5c) the SP to...

In the last month or so from GXY lowest of low (81.5c) the SP to now at $1.20 has gone up almost 50%... With shorts still at 18.26% (75 million shares to cover).
So the slight rebound has been genuine buying and the pressure on the short sellers is only increasing.... Can anyone explain to me how this won't inevitably explode?
forget markets and fundaments.... Just mathematically this house of cards has to collapse at some point and the more the SP raises while the short position stays the same the bigger the inevitable kaboom is gonna be!
or am I missing something...?