Most, if not all, of the Sharp 505nm diodes offered for sale now are case positive. This makes building a pointer with them difficult if you don't have a linear driver for driving them.
Have you considered the 301 or 303 pointers at 532nm on eBay? They can be had for as little as $6.00 each and have an output power ~80 mW most of the time. At least in my experience.