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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: LoneClone	7/12/2007 2:04:02 PM
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Breakwater Resources surges to 7-year high globeinvestor.com 12/07/07 OTTAWA (Reuters) - Breakwater Resources Ltd. said on Thursday it was unaware of any corporate news behind the recent meteoric rise of its stock, which touched a seven-year high in early trade. Breakwater, which sells zinc, copper, lead, and gold concentrate from four producing mines, made the statement at the request of the Toronto Stock Exchange. Shares peaked at C$3.69 in Toronto in early trade on Thursday before edging back slightly to C$3.56, a 2.3 percent gain. The stock has climbed about 12 percent in the past week and 33 percent over a two-week period. "I think we're getting traction in the marketplace for doing the things we said we would do," spokeswoman Ann Wilkinson said. "With success comes more attention." The Toronto-based company recently announced that exploration this year has increased the proven and probable reserves at its El Toqui mine in Chile by 50 percent. Last week, Breakwater announced that its Langlois mine in northwestern Quebec is now in commercial production. Breakwater also has the Myra Falls mine in British Columbia and El Mochito mine in Honduras. "We have historically traded at a discount to our peer group and that gap is starting to narrow," Wilkinson said, referring to Lundin Mining , Inmet Mining and HudBay Minerals .

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