analysis

http://www.smh.com.au/business/murchison-soars-on-rail-line-approval-20110622-1gezm.html

This article attribute the rise to the approval and not to the QRN rumour.

On second thought, the QRN rumour should not really spike the sp.

It doesn't matter whether MMX sells a particular % of stake to QRN as compared to Sinosteel, An Steel, China Rail or POSCO.

The end result is still a divestment with similar overall impact.

Hence, when the REAL divestment happens (presumably to Chinese interest), then the sp will spike again. Perhaps even more so now that there may be an element of competition with an Australian player.