1). Toast bread under the broiler for 5 minutes or until browned. Remove from broiler and set aside.
2). Preheat oven to 350° F.
3). Butter a 9×13-inch baking dish.
4). In a medium saucepan, mix water, piloncillo, cinnamon and cloves. Bring to a boil, then simmer 5-10 minutes or until slightly thickened syrup.
5). Strain to remove cinnamon sticks and cloves. Keep syrup warm.