Murchison shares rise on back of interested party Posted 1 hour 54 minutes ago
Oakajee 6532 Shares in Murchison Metals have risen strongly after Queensland Rail announced it is ready to take a stake in the Oakajee Port and Rail development in the Mid West.
OPR is developing the common-user rail network to connect mines in the region to a proposed port at Oakajee, north of Geraldton.
Murchison is one of OPR's joint-venture partners and turned around a recent slump to rise 4.5 per cent on the sharemarket this morning.
Shares in Gindalbie Metals, which is set to become a foundation customer of the railway, also rose strongly by 5.3 per cent.
It is believed the comments made by QR National drove the upward turn on the market.
MMX Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held