Proposed project tipped as Queensland's biggest tourism infrastructure development in the state's history.

Bookings are ahead of budget for a small tourism venture which has adapted golf carts to drive on a mothballed rail line from Taranaki to King Country.

The stock rises about 14% to 65 cents, the highest since February 27.

The deal is subject to 50% shareholder approval and will see the Auckland-based company's assets rise to about $350 million from $280 million.

Profit for the largest holiday rental vehicles provider in Australasia is $4.3 million in the 12 months ended June 30, from a year-earlier loss of $27.3 million.