Subject: Nanisivik FYI
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Mon, 29 Oct 2001 16:02:46 -0500

Breakwater to Close Money-Losing Nanisivik Mine
	13:44 EST Monday, October 29, 2001
	TORONTO (Reuters) - Breakwater Resources said on Monday that
depressed metals prices has forced the early closure of its Nanisivik zinc
mine in the Canadian Arctic as the company struggles to conserve cash.
	Breakwater said the mining plan at Nanisivik, which lost C$8.3
million ($5.3 million) in the first six months of 2001, will be accelerated
and will not include the mining of lower grade reserves, resulting in the
closure of the mine in September 2002.
	The company said it is pursuing all "avenues of cash preservation",
which could include temporary suspension of operations at one or more of its
other mines.
	Shares of Breakwater shed 1 Canadian cent to 18 Canadian cents on
the Toronto Stock Exchange on Monday, down from a year high of C$1.82.
($1=$1.57 Canadian)

Jordan DeGroot
Habitat Management Biologist
Eastern Arctic Area
Fisheries and Oceans Canada
Iqaluit, Nunavut X0A 0H0
Phone: (867)-979-8007
Fax: (867)-979-8039

> -----Original Message-----
> From:	Rita Becker [SMTP:[email-masked]]
> Sent:	Monday, October 29, 2001 4:00 PM
> To:	Steven Keenan
> Cc:	Bruce Trotter; Doug Sitland; Solamie Shoo; Joe Tigullaraq; Jordan
> DeGroot; Lawrence Ignace; Paul Partridge; Paul Smith; Josee Galipeau;
> Gladys Joudrey; stefan Lopatka; Carson Gillis
> Subject:	NWB1NAN9702- A&R Plan
> 
> Please see attached.
>  
> Rita Becker
> Licensing Administrator
> Nunavut Water Board
> Tel:867-360-6338
> Fax:867-360-6369 << File: 011026nanfinalresponse-OTAE.doc >>