Breakwater to develop new mine; records third-quarter loss of $1.3M
Nov 11, 2005 | 08:45 AM
Enthusiasm about the development of the Langlois Mine in northwestern Quebec was tempered as Breakwater Resources Ltd., Toronto, slipped into the red with a third-quarter loss of Canadian $1.6 million ($1.3 million) on an 8.8-percent rise in revenue to C$71.9 million ($60.4 million) vs. the third quarter last year.BREAKWATER RESOURCES LTD.(in thousands except per share) 200520043rd qtr. ended Sept. 30Revenue$71,933$66,109Net income (loss)(1,579)2,386Per share-0.019 months ended Sept. 30Revenue$255,615$178,755Net income4,9288,961Per share0.010.02In Canadian dollarsThe company blamed the loss on a one-time charge of C6.7 million related to the final reclamation work at the former Nanisivik zinc mine, which was closed in September 2002.....
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