MCC had quite a good run today, although the broader market was...

MCC had quite a good run today, although the broader market was pretty ordinary. This looks like the reason:

http://www.igmarkets.com.au/cfd/market-update-20101015c.html

Macarthur Coal ? In a broker report from Merrill Lynch, it reinstated coverage of Macarthur Coal at buy with $14.50 price target. The broker said the attraction is not just the current asset base, but the potential, with likely rapid production expansion over 4-5 years to 9.2 million metric tons/year from the current 5 million tons. Merrill also notes industry consolidation is ongoing in the Australian coal sector, with Macarthur already a target of several takeover proposals in the past year. The broker also said "Macarthur enjoys leverage to both short-term and long-term industry pricing dynamics".