market likes it

Certainly a positive move, I did not expect that they were going for further cash, however considering that POSCO already had a holding and now wants even more and spends a reasonable amount of money (yes I know it traded at 51.5c before the trading halt) to obtain a 19.9% holding.
Companies cash book is certainly boosted, furthermore there is still the posibility of a takeover offer, only it will come from POSCO, considering the activity at the moment I agree with nobby clark that the share price will continue to move up, due to the strong tenements and the surat basin missing rail link, why else would POSCO have made such an early move.
The company now has more money to spend on boosting up the resource and when it comes down to it, that is what is going to make the shareprice appreciate even higher, the more resource you have defined, the greater the valuation that can be attributed to your company.