Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, May 15, 2009

Article Excerpt

BREAKWATER RESOURCES, $0.26, symbol BWR on Toronto, reports that it lost $0.01 a share in the three months ended March 31, 2009, compared to a gain of $0.02 a share a year earlier. Cash flow per share was slightly positive, at $0.001 a share, compared to $0.005. Breakwater is a Canadian-based company mining company focused on zinc production. It has mines in Canada, Chile and Honduras. Despite the lower results in the latest quarter, Breakwater’s share price has almost doubled since the beginning of this month. That’s because the price of zinc has gone up, and the company has resolved its cash shortfall. Last month, Breakwater issued 230 million units at $0.10 each, which raised a total of $23 million. Each unit included one common share and half of a warrant. Each whole warrant entitles the holder to buy one common share for $0.12 until April 9, 2014. The new shares raised the number outstanding by 50%, or 230 million, bringing the total to799…