Breakwater improves financial position (September 07, 1992)

The recent restructuring of Breakwater Resources (TSE) has contributed to an improved bottom line, as have cost control measures and improved metal prices.

The company owns 49% of a gold mine in Washington state, owns and operates the El Mochito base metal mine in Honduras, and has a number of mineral projects in Canada and the U.S.

Before an extraordinary gain of $22.3 million arising from the restructuring of its Swiss Franc bonds, Breakwater reported a loss of $3.9 million for the first half of 1992. This compares favorably with a loss of $12.39 million for the corresponding period in 1991.