The CR timing will most likely be driven by the next good news....

The CR timing will most likely be driven by the next good news. If there is good news announced, a CR is sure to follow not too long after.

The CR will likely be a private placement, but not necessarily to the brokers the shorters rely on. Say for example it goes to a new JV partner and leaves the shorters in the lurch. If that possibility is floated, then watch the shorters go to work. Their trolls will come out in force to say why the good news is bad and they'll try to wash trade the price down to in the hope of holding the SP down long enough to reduce their exposure. But there is just too much there to unwind!

Ah, wishful thinking. When the announcement comes the shorters will no doubt do pretty much what i said above anyway to keep the SP down until the the CR comes and they can then unwind with the SP still low.