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.
"So if the $4.5m contribution from the one off Rugby World Cup is deducted, earnings are virtually nothing."
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