First, pour milk and water into a saucepan, whisk in cocoa powder and bring to a boil, then add the chocolate and boil down over low heat for about 5-10 minutes, stirring occasionally. Pour through a sieve if necessary and let cool, stirring occasionally.
To serve, warm the chocolate but do not bring to a boil.
Flavor variations:
Add a sliced vanilla bean or cinnamon stick to the milk and bring to a boil.
Flavor with nutmeg, chili, vanilla, bitter almond, amaretto or eggnog.
Before cooling, stir in 100 ml of coffee.
For rum lovers: stir in 50 ml of rum before serving.
Boil small cut aranzini, strain and flavor with orange liqueur.
Serve sprinkled with spiced sugar.
Garnish with 1 tsp of half-whipped cream.
Serve sprinkled with cardamom.
Use 1/2 dark couverture and 1/2 milk couverture.