IF the news is the name of a new investor with $25m or more invested, I would expect the $1.00 mark would just be in passing on the way up.  With 22m shares outstanding, the cash alone would equate to $1.13/share.  And if the realization that this project will now get done is factored in, and (hopefully), the book value of $20+/share and expectations for revenue and profit should drag the price further north. 

We'll see.  Not holding my breath.  Too many disappointments.