The mkt (at least at the Insto level) has been aware of all of...

The mkt (at least at the Insto level) has been aware of all of the various announcements - possibly with the exception of the resource upgrade. The "go it alone" alternative has been discussed at length.
The mkt is in a bizarre situation now - the Insto shareholders have basically said that they will not support a deal simply to do something unless the price is north of $2 - thus the suggestion of looking to go it alone albeit with the help of some friendly bankers. I would suggest that we have had one Insto seller and one Insto buyer over the last few weeks - outside of that it has been quiet and should demonstrate to the mkt that this potential new approach has merit - along with the new data room entrant.
Short term price moves will be dictated by dissapointed and frustrated short term traders as the resource upgrade does virtually nothing to change the valuation of the company. I'll be back on the buy side at $0.80 should the stock want to revisit those levels.
As I've said before, nothing has changed with this company - the rocks remain in the ground and the relationships remain within SPH.

Robbo