So, what's got Hycroft Mining Holding Corp (HYMC) shares popping again on Friday? It's the culmination of a pretty wild week, driven by some serious news from the company itself and a helpful nudge from the broader market.

Let's start with the big one: the company just told everyone it has a lot more gold and silver in the ground than it did before. We're talking about a roughly 55% growth in both gold and silver in the "Measured and Indicated" category—that's the stuff geologists are pretty confident about. The new totals are 16.4 million ounces of gold and 562.6 million ounces of silver. As a little bonus, they also announced an initial high-grade silver resource of 90.2 million ounces. That's the kind of update that gets mining investors' attention.

But it's not just about having more metal; it's about getting it out efficiently. Hycroft also released metallurgical test results that look promising. Using a process called pressure oxidation, they can recover about 83% of the gold and 78% of the silver. Another method, flotation, does even better for silver, with recoveries hitting 92.9%. Perhaps more interestingly, they're looking at a roasting process that could turn a by-product—sulfuric acid—into a third revenue stream. It's the mining equivalent of finding an extra fry at the bottom of the bag.

Now, here's where it gets spicy. While the company was delivering this good news, short sellers were increasing their bets against the stock. Short interest climbed from 4.94 million to 6.92 million shares in the most recent period. That pushes the short float—the percentage of available shares being sold short—to 13.69%. With an average daily trading volume of 7.23 million shares, it would theoretically take short sellers about one day to buy back all their borrowed shares to close their positions. That's a pretty compressed timeline. In market mechanics, a high short interest combined with a low days-to-cover ratio can act like a coiled spring; if the stock price starts rising, short sellers rushing to exit their positions can amplify the move upward. It's a setup that can lead to a short squeeze, adding extra volatility to the rally.

The macro environment is also playing its part. It's a good week to be in the business of gold and silver. Gold was pushing toward $5,040 an ounce on Friday, and silver jumped about 4% to trade above $80.5 an ounce. According to market data, rising geopolitical tensions and shifting expectations around U.S. macroeconomic policy are boosting demand for these classic safe-haven assets. A rising tide lifts all boats, and it certainly doesn't hurt a miner's stock when the price of its product is going up.

Putting it all together, the stock's momentum is being rated as significantly bullish, outperforming the broader market. At the time of publication, Hycroft Mining shares were up 7.01% at $45.10. It's been a volatile week, but for now, the bulls are in charge, riding a wave of bigger resources, promising recovery rates, and a shiny macro backdrop.