Junior miner surges on metallurgical testing results

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, May 12, 2011

TORONTO (SHfn) – Royal Nickel (TSX: T.RNX, Stock Forum) shares powered as much as 13% higher to $1.73 on Thursday after the nickel junior reported positive results of an optimization study and additional metallurgical testing results for its Dumont Nickel Project in Quebec. The study and testing to date clearly support the construction of a simplified, lower cost, more robust flowsheet.

As well, shares of Fireswirl Technologies (TSX: V.FSW, Stock Forum) gained 29% to 26.5 cents as the electronic and mobile commerce solutions provider announced that its subsidiary, Beijing Xingchang Xinda Technology Development Co., Ltd., has signed an e-commerce collaboration agreement with Logitech to operate its official online store in China.

Chartwell Technology (TSX: T.CWH, Stock Forum) and Amaya Gaming Group (TSX: V.AYA, Stock Forum), meanwhile, reported that they have entered into an arrangement agreement to combine the businesses of both companies. Under the terms of the agreement, each Chartwell shareholder will receive cash in the amount of 87.5 cents plus 0.125 common shares of Amaya in exchange for each Chartwell share. Chartwell stock popped 34% to $1.10.

Shares of Automodular (TSX: T.AM, Stock Forum) shot up 51% to $1.39 after the supplier of sub-assembly, sequencing and transportation services to Ford's Oakville Assembly Plant announced first-quarter net earnings of $3.5 million, or 18 cents a share, compared with a net loss of $200,000, or a penny a share, during the same period in 2010.

And, Catch the Wind (TSX: V.CTW, Stock Forum) Thursday said it has sold 20 of its Vindicator Laser Wind Sensor units to TransAlta Corporation, with an option to purchase additional units. The sale is Catch the Wind's largest to date for wind turbine control. Catch the Wind shares rose 12% to 56 cents.

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