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.
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