U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10-QSB

(Mark  One)

[ ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
     ACT  OF  1934

For  the  quarterly  period  ended____________________

[X]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(D) OF THE SECURITIES
     EXCHANGE  ACT  OF  1934

For the transition period from       July 1, 2000      to     September 30, 2000
                               -----------------------    ----------------------
Commission  File  Number:     0-27295
                         ---------------

                          PLANET EARTH RECYCLING, INC.
        (Exact name of small business issuer as specified in its charter)

       NEVADA                                                   98-0208988
       ------                                                   ----------
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                                435 MARTIN STREET
                                BLAINE, WA  98230
                     (Address of principal executive offices)

                                 (360) 332-1350
                 (Issuer's telephone number, including area code)

     Check whether the issuer (1) filed all reports to be filed by Section 13 or
15(d)  of the Exchange Act during the past 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been subject
to  such  filing  requirements  for  the  past  90  days.  [X]  Yes  [ ]  No

     State  the  number of shares outstanding of each of the issuer's classes of
common  equity  as  of  the  latest  practicable  date: As of November 10, 2000,
20,315,000 shares of common stock, par value $0.001 were issued and outstanding.

Transitional Small Business Disclosure  Format  (Check  One):  [X]  Yes  [ ]  No


                                      -1-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                             TABLE  OF  CONTENTS

                                                                         Page
                                                                         ----

PART I - FINANCIAL INFORMATION. . . . . . . . . . . . . . . . . . . . .   3

    Item 1.  Financial Statements . . . . . . . . . . . . . . . . . . .   3

         Balance Sheet as of September 30, 2000 (unaudited). . . . . .    3

         Income Statement for the three months ended
         September 30, 2000 (unaudited). . . . . . . . . . . . . . . .    4

         Statements of Cash Flows for the three months ended
         September 30, 2000 (unaudited). . . . . . . . . . . . . . . .    5

         Notes to the Financial Statements (unaudited) . . . . . . . .    6

    Item 2.  Management's Discussion and Analysis of Financial Condition
             and Results of Operations. . . . . . . . . . . . . . . . .   10

PART II - OTHER INFORMATION . . . . . . . . . . . . . . . . . . . . . .   17

    Item 1.  Legal Proceedings. . . . . . . . . . . . . . . . . . . . .   17

    Item 2.  Changes in Securities. . . . . . . . . . . . . . . . . . .   17

    Item 6.  Exhibits and Reports on Form 8-K . . . . . . . . . . . . .   17

SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   18


                                      -2-
<PAGE>
<TABLE>
<CAPTION>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                         PART  I.  FINANCIAL INFORMATION

ITEM  1.       FINANCIAL  STATEMENTS
-----------------------------------

                         CONSOLIDATED  BALANCE  SHEET
                      As at SEPTEMBER 30, 2000 (Unaudited)

ASSETS                                     SEPT. 30, 2000   JUNE 30, 2000
------                                     ---------------  ----------------
<S>                                        <C>              <C>
CURRENT ASSETS
     Cash in Bank                          $     2,099,628  $    1,877,144
     Accounts Receivable - Trade                   744,815         488,830
     Accounts Receivable - Other                    45,883          25,757
     Prepaid expenses                              148,986          71,741
                                           ---------------  ----------------
                                           $     3,039,312  $    2,463,472

CAPITAL ASSETS (Notes 2 (d) and 3)                  20,084          20,881

LICENSE (Note 2 (e) and 8 (b))                     950,000         975,000
PROJECT DEPOSIT                                     17,170               -
MINERAL PROPERTY                                         -           1,681
EXPLORATION ADVANCE                                      -           8,299
                                           ---------------  ----------------
TOTAL ASSETS                               $     4,026,566  $    3,469,333
                                           ===============  ================

LIABILITIES & SHAREHOLDER'S EQUITY
----------------------------------

CURRENT LIABILITIES
     Accounts Payable (Note 9)             $       248,191  $      149,677
     Deferred Revenue (Notes 2 (c) and 4)          786,112       1,392,573
     Note Payable (Note 5)                       1,000,000       1,000,000
                                           ---------------  ----------------
                                                 2,034,303       2,542,250
                                           ---------------  ----------------

SHAREHOLDER'S EQUITY
--------------------

CAPITAL STOCK (Note 1)                               2,034           2,034
ADDITIONAL CONTRIBUTED CAPITAL                      52,217          52,217
RETAINED EARNINGS                                1,938,012         872,832
                                           ---------------  ----------------
                                                 1,992,263         927,083
                                           ---------------  ----------------

                                           $     4,026,566  $    3,469,333
                                           ===============  ================

              See accompanying notes to financial statements.
</TABLE>


                                      -3-
<PAGE>
<TABLE>
<CAPTION>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

          CONSOLIDATED  STATEMENT  OF  INCOME  AND  RETAINED  EARNINGS
        For  the  3  month  period  ended  SEPTEMBER  30,  2000  (Unaudited)

                                                              SEPT 30, 00   JUNE 30, 00
                                                             -------------  ------------
<S>                                                          <C>            <C>

REVENUE                                                      $  1,809,706   $1,095,814
                                                             -------------  ------------

EXPENSES
     Advertising and promotion                                        776        2,881
     Automotive expenses                                            2,363          350
     Depreciation and amortization                                 26,175       25,532
     Donation                                                           -        5,103
     (Gain) Loss US$exchange                                       48,951       39,267
     Interest Expense                                              17,644       18,027
     Management consultants                                       358,954       24,138
     Office and general                                           124,960       10,968
     Professional fees                                             50,817        1,802
     Rent                                                          46,835       17,323
     Telephone                                                     13,017        1,565
     Travel                                                        12,543        3,036
     Utilities                                                      5,481            -
     Wages and benefits                                            44,891       25,967
     Write-off of Exploration Advance                               8,299            -
     Write-off of Mineral Property                                  1,681            -
                                                             -------------  ------------
                                                                  763,387      175,959
                                                             -------------  ------------

INCOME BEFORE INTEREST INCOME                                   1,046,319      919,855
INTEREST INCOME                                                    18,861        4,606
                                                             -------------  ------------

NET INCOME AND RETAINED EARNINGS                             $  1,065,180   $  924,461

DEFICIT FROM AFFILIATE COMPANY                                          -      (51,629)
RETAINED EARNINGS, BEGINNING OF PERIOD                            872,832            -
                                                             -------------  ------------
RETAINED EARNINGS, END OF PERIOD                             $  1,938,012   $  872,832
                                                             -------------  ------------

                                                             -------------  ------------
Adjusted Earnings per Share - 20,315,000 SHARES OUTSTANDING  $       0.05   $     0.05
                                                             -------------  ------------

                 See accompanying notes to financial statements.
</TABLE>


                                      -4-
<PAGE>
<TABLE>
<CAPTION>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                    CONSOLIDATED  STATEMENT  OF  CASH  FLOW
       For  the  3  month  period  ended  SEPTEMBER  30,  2000  (Unaudited)

                                                            SEPT 30, 00    JUNE 30, 00
                                                           -------------  --------------
<S>                                                        <C>            <C>
CASH RESOURCES PROVIDED BY (USED IN)
OPERATING ACTIVITES
     Net Income                                            $  1,065,180   $    924,461
Items not involving funds
     Amortization                                                26,175         25,532
     Deferred revenue realized                                 (606,461)      (596,817)
Cash generated from (used for) operating working capital
     Accounts receivable - trade                               (255,985)      (488,830)
     Accounts receivable - other                                (20,126)       (25,757)
     Prepaid expenses                                           (77,245)       (71,741)
     Accounts payable and accrued liabilities                    98,513        140,489
                                                           -------------  --------------

                                                                230,051        (92,663)
                                                           -------------  --------------
CASH RESOURCES PROVIDED BY (USED IN)
FINANCING ACTIVITIES
     Share capital                                                    -              1
     Note Payable                                                     -      1,000,000
     Fund received from contract advance                              -      1,989,390
                                                           -------------  --------------
                                                                      -      2,989,391
                                                           -------------  --------------

CASH RESOURCES PROVIDED BY (USED IN)
INVESTING ACTIVITIES
     Acquisition of license                                           -     (1,000,000)
     Purchase of capital assets                                    (377)       (21,413)
     Project Deposit                                            (17,170)
     Write-off of Mineral Property                                1,681
     Write-off of Exploration Advance                             8,299        (21,413)
                                                           -------------  --------------

                                                                 (7,567)    (1,021,413)
                                                           -------------  --------------

INCREASE IN CASH                                                222,484      1,875,315
CASH AND TERM DEPOSITS, beginning of year                     1,877,144              -
                                                           -------------  --------------

CASH AND TERM DEPOSITS, end of year                        $  2,099,628   $  1,875,315
                                                           =============  ==============

                 See accompanying notes to financial statements.
</TABLE>


                                      -5-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
           For the 3 month period ended SEPTEMBER 30, 2000 (Unaudited)

1.   NATURE OF BUSINESS AND STATUS OF ACTIVITIES

     Planet  Earth  Recycling  Inc.  (formerly  Adventure  Minerals,  Inc.) (the
     "Company")  was  incorporated  in Nevada,  USA on February  17,  1999.  The
     Company is public and has been  trading  on the over the  counter  bulletin
     board on the NASDAQ since June,  2000.  On September 15, 2000, a merger was
     completed  with a  private  company  (known  at the  time as  Planet  Earth
     Recycling  Inc.), in which shares were exchanged one for one. The Company's
     name was formally  changed to Planet Earth  Recycling,  Inc. on November 2,
     2000  whereas  a  Special   Shareholders'  Meeting  was  held  in  Seattle,
     Washington.  All future  business  will be conducted  under the name Planet
     Earth  Recycling Inc. and traded on the over the Counter  bulletin board on
     the NASDAQ.

     Planet Earth Recycling Inc. is an integrated,  multi-faceted  recycling and
     waste  management  business  ready to address a broad  range of  recyclable
     material   including  glass,   plastic,   paper,   cardboard,   metals  and
     particularly organic wastes. The Company holds contractual rights to build,
     support,  and  supply  Thermo  Master(TM)  Plants  which  employs  a patent
     protected  process to convert  organic waste materials to valuable feed and
     fertilizer products.

     The  Company has  investment  in one  subsidiary,  Planet  Earth  Operating
     Systems Inc., which in turn has investments in four subsidiaries, which are
     consolidated and summarized as follows:

<TABLE>
<CAPTION>
     COMPANY                                                    NATURE OF BUSINESS
<S>                                                            <C>

     Planet  Earth  Operating  Services  Inc. (100% owned)     Operating  Company
     (a)  Earth  Alliance  Systems  Inc.  (100%  owned)        Total  Recycling
     (b)  Planet  Earth  Bio  Conversion Inc. (100% owned)     Licensor of technology
     (c)  Planet Earth Design Build Inc. (100% owned)          Engineering and Construction
     (d)  Planet  Earth  Management  Inc.  (100%  owned)       Commissioning  and Operating
</TABLE>

<TABLE>
<CAPTION>
<C>                                    <S>
2.   SIGNIFICANT  ACCOUNTING  POLICIES

     (A) PRINCIPLES OF ACCOUNTING      These consolidated financial statements have  been
                                       prepared in accordance with accounting  principles
                                       generally accepted in Canada applicable to a going
                                       concern,  which  assumes  that  the  Company  will
                                       continue operation for a reasonable period of time
                                       and  will  be  able  to  realize  its  assets  and
                                       discharge  its  liabilities and commitments in the
                                       normal course of operations.

                                       These  principles  can  differ  in certain material
                                       respects from those accounting principles generally
                                       accepted in  the  United  States  but  no  material
                                       differences exist in these statements.


                                      -6-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
           For the 3 month period ended SEPTEMBER 30, 2000 (Unaudited)

     (B) BASIS OF CONSOLIDATION        These financial statements have been prepared using
                                       the purchase method of  consolidation.  The  assets
                                       and liabilities of acquired companies are initially
                                       recorded at their cost.  The results of  operations
                                       of the acquired companies  are  included  from  the
                                       dates of acquisition.  All significant intercompany
                                       transactions and balances have been  eliminated  on
                                       consolidation.

     (C) REVENUE RECOGNITION           Revenue is recognized when services are performed.

     (D) CAPITAL ASSETS                Plant   and   equipment  is   recorded   at   cost.
                                       Amortization is recorded on active and idle assets,
                                       Computed using  the  20%  straight-line  method  to
                                       amortize  the  cost  of  the   assets  over   their
                                       estimated useful lives.

     (E) LICENSES                      License  rights   are  recorded  at  cost  and  are
                                       amortized on a straight-line basis over the license
                                       period (10 years) which is the Company's  estimated
                                       period of benefit for these costs.
</TABLE>


3.   CAPITAL ASSETS
                             Cost      Acc. Amort.       Net Book Value
        Office  Equipment   $21,413      $1,329              $20,084

      Amortization  for  the  period  amounted  to  $1,329.

      The  estimated  useful  life  of  the  office equipment is five years.


4.   DEFERRED REVENUE

     The Company entered into a consulting contract on April 1, 2000, to provide
     consulting  and   administrative   services  at  a  fixed  monthly  fee  of
     $300,000.00  CDN  ($198,939 US) plus all costs charged at 15%. On April 28,
     2000 the first ten months were paid in advance  ($3,000,000 CDN; $1,989,390
     US).  As at  September  30,  2000  $786,112  US of  that  advance  remained
     unearned.


5.   NOTE PAYABLE

     The Company,  in connection with its  acquisition of the license  agreement
     (Note 9 (b)) is indebted by way of a  $1,000,000  US note  payable,  due on
     demand at seven percent (7%) rate of interest payable both before and after
     maturity.  Interest of $17,644 US has been  accrued but unpaid to September
     30, 2000.


                                      -7-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
           For the 3 month period ended SEPTEMBER 30, 2000 (Unaudited)

6.   SHARE CAPITAL

     The Company has  authorized  share capital of 25,000,000  common shares par
     value of  $0.001US.  Prior to the  merger,  there  were  10,165,000  shares
     outstanding.  On September  15, 2000 a share  exchange in which  10,000,000
     shares of the Company were issued for all the outstanding  shares of planet
     earth  recycling Inc.  (private  company) one for one. Prior to the Merger,
     150,000  shares were  issued for the  settlement  of a certain  obligation.
     Total outstanding shares as of September 30, 2000 is 20,315,000.

                    Price     Number  of  Shares     Total  Outstanding
                    -----     ------------------     ------------------
Cash Issue          $.005              1,200,000              1,200,000
Cash  Issue         $.05                 800,000              2,000,000
Cash  Issue         $.25                  33,000              2,033,000
5  for  1  Split                       8,132,000             10,165,000
Debt  Settlement   $0.001                150,000             10,315,000
Share  Exchange                       10,000,000             20,315,000


7.   COMMITMENTS

     The  Company  rents  its  head  office  and  administrative  offices  under
     operating  leases.  Rental  payments  during the period amounted to $17,323
     U.S$.  Aggregate minimum rental payments are $672,341 U.S.$ and approximate
     future  rent  payments  for the next five years  relative  to signed  lease
     agreements are as follows:

                                      $   U.S.
                                      ---------
       2001                           $182,805
       2002                           $167,841
       2003                           $167,841
       2004                           $153,854


8.   SIGNIFICANT AGREEMENTS

     The Company has entered  into  several  significant  agreements  during the
     operating period as follows:

     a)   Master Service  Agreement.  The Company has a Master Service Agreement
          with a  corporation  that  allows it to have the  right to  construct,
          commission,  maintain,  operate,  supply and broker the end product of
          all Thermo  Master(TM)  Plants  built for any  licensee  in the world.
          These services are provided at a cost plus 15% rate.


                                      -8-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
           For the 3 month period ended SEPTEMBER 30, 2000 (Unaudited)

     b)   License  Agreement.  The Company  entered into a License  Agreement on
          March 28, 2000 to utilize the Thermo Master(TM)  technology in Canada,
          Washington,  Oregon, Nevada, Idaho, California and Hawaii. The Company
          has an exclusive  right to build a Thermo  Master(TM)  Plant in any of
          its  territories.  The License is  $1,000,000  US and was satisfied by
          with of a Note  payable  (Note 5).  Amortization  of $25,000  has been
          recorded  during the period (Note 2 (e)).  The License  Agreement also
          calls for an  additional  payment  of  $1,000,000  US for every  plant
          constructed by or on behalf of the Licensee.

     c)   Consulting  Agreement.  The  Company  has  entered  into  a ten  month
          Consulting   Agreement  for  monthly   consulting  and  administrative
          services  (see Note 4). This contract is renewable in October 2000 for
          the full rate or a reduced rate for a further  nine-month  period. The
          Company has continued this contract at full value.

     Currently the Company derives all its Revenue from these  contracts,  which
     are with one Corporation.

     9. RELATED PARTY TRANSACTIONS

     Included in accounts  payable as at September  30, 2000 was $45,857 owed to
     the Company's new President.


                                      -9-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF  OPERATIONS
--------------

This  Form  10-QSB  contains forward-looking statements. The words "anticipate",
"believe",  "expect",  "plan",  "intend", "estimate", "project", "could", "may",
"foresee",  and  similar  expressions  identify  forward-looking statements that
involve risks and uncertainties. You should not place undue reliance on forward-
looking  statements  in  this Form 10-QSB because of their inherent uncertainty.
The  following  discussion  and  analysis should be read in conjunction with the
Financial  Statements and Notes thereto and other financial information included
in  this Form 10-QSB that involve risks and uncertainties.  Actual results could
differ  materially from the results discussed in the forward-looking statements.

BUSINESS

The  Company  is  an  integrated,  multi-faceted  recycling and waste management
business,  ready  to  address  a  broad range of recyclable materials, including
glass,  plastic,  paper, cardboard, metals and particularly organic wastes.  The
Company,  through  one  of  its subsidiaries, holds contractual rights to build,
support  and  supply  Thermo  Master(TM)  Plants which employ a patent protected
process  to  convert  organic  waste  materials  to valuable feed and fertilizer
products  and  holds  an  exclusive master license to own and sub-license Thermo
Master(TM)  Plants in Canada, California, Washington, Oregon, Nevada, Hawaii and
Iowa.  The  Company's  presence in a community means local employment, effective
waste  recycling  opportunities  and  environmental  improvements.

The  Company  offers  a full range of waste recycling and management services to
waste  generators  and  communities.  The Company is structured as an integrated
business  with  several subsidiaries dedicated to delivering distinct aspects of
the Company's overall mandate.  The following shows how the Company is organized
to  serve  its  clients  and  shareholders:

                          PLANET EARTH RECYCLING, INC.
                          ---------------------------
                                        |
                      PLANET EARTH OPERATING SERVICES INC.
                      ------------------------------------
                                        |

                    1.   EARTH  ALLIANCE  SYSTEMS  INC.  (Waste   acquisition  -
                         -----------------------------
                         Satellite  centers - Tote services  Transfer stations -
                         De-packaging   -  Commodity   broker   glass,   metals,
                         plastics, paper, organics - Waste audits)
                    2.   PLANET   EARTH  DESIGN   BUILD  INC.   (Engineering   -
                         -----------------------------------
                         Permitting   -   Construction   services  -   Equipment
                         procurement  - Turnkey  recycling  systems  -  Transfer
                         stations - New technology development)
                    3.   PLANET EARTH BIO CONVERSION  INC.  (Licenses for Thermo
                         --------------------------------
                         Master(TM)   Plants  -  Exclusive   and   non-exclusive
                         territory)
                    4.   PLANET EARTH MANAGEMENT INC.  (Commissioning - Training
                         -----------------------------
                         -  Operating  services  - Support  services  - Complete
                         recycling systems)


                                      -10-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

Two  of the Company's subsidiary companies produce steady cash flow by supplying
construction  and  support  services  to  build,  operate  and  maintain  Thermo
Master(TM)  Plants,  Earth  Alliance Satellite Centers, transfer stations, water
treatment  facilities  and  other  such  physical  plants.  These  companies may
provide  services  directly,  but  will  more  likely  oversee  the programs and
services  that  are delivered at the local level by local sub-contractors having
the  required  skills.

The  other  subsidiaries,  Earth  Alliance  Systems  Inc.  and  Planet Earth Bio
Conversion  Inc.  capitalize  on  the unlimited potential of waste and recycling
markets  throughout  the  world.  These  two companies are structured to own and
operate  waste  acquisition,  recycling,  organic waste conversion and commodity
brokering  businesses  to cover the full gamut of recycling opportunities in the
marketplace.  The  two  subsidiaries will hold equity positions in the Company's
growing  family  of  plants  and  businesses as well as create and capture major
revenues  and  profits.

The  Company  is  also involved in commodity businesses, whether that be the end
product  from  Thermo Master(TM) businesses (feed or fertilizer products) or the
recyclable  plastics,  paper,  glass, metals and other recoverable materials. At
present,  this  function  is  within  Earth Alliance, but may be launched in the
future  as  a  free-standing  subsidiary.

All  subsidiary  businesses  are  structured  to operate profitably in their own
right.  The  subsidiaries  have  been  structured as distinct entities to ensure
that  the  Company's  management  can  track  each  subsidiary's  performance.

The  parent  company,  Planet Earth Recycling, Inc., is primarily focused on the
acquisition  and  management  of  corporate  financing.  Planet  Earth Operating
Services  Inc.  ("PEOSI")  delivers  all  aspects of the operational side of the
business  through its several subsidiary companies.  The Company has assembled a
team  of  core  consultants  with  over  300 years of combined experience in the
critical  sectors of its business.  PEOSI is built from a company with a history
of  45  years  of  successfully providing systems, equipment and services in the
agricultural  and  environmental  industries.  It  continues  to  deliver  those
services  to  a  broad  industry  sector  and to expand even further.  Its waste
management  and  recycling  team  brings  experience  with  every  major  waste
management  firm  known  in  North  America. Within the group of key consultants
resides  knowledge  and  experience  in  engineering,  research and development,
construction,  mechanical  operations,  public  relations  and  marketing, waste
acquisition,  recycling  and  financing  needed  to  conduct  PEOSI's  business.

For  more information on the business of the Company, see the report on Form 8-K
dated  September  15,  2000  and filed under the name Adventure Minerals Inc. on
September  29,  2000.

STATUS  OF  OPERATIONS

The  Company's  current  operations include the following activities from signed
contracts.


                                      -11-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

On  April  6,  2000,  POESI  signed  a 20 year Master(TM) Service Agreement with
Thermo  Tech(TM)  Technologies Inc. and Thermo Tech(TM) Bio Conversion Inc.  The
Master(TM)  Service  Agreement provides the exclusive rights to PEOSI to provide
turnkey  construction,  commissioning  and  training,  maintenance  services,
technical services, Waste supply and End Product Purchasing for all licensees of
the  Thermo  Master(TM)  Mark  III  technology.  This  contract will provide the
expertise  and  know-how  to ensure all new licensees are delivered an operating
Thermo  Master(TM)  Mark  III Plant.  Through this Master(TM) Service Agreement,
the  Company  has  signed  the  following  contacts:

     1.     The  Company's  subsidiary  Planet  Earth  Design  Build  Inc. has a
Turnkey Construction Agreement with Hamilton Bio Conversion Inc. to complete the
upgrade  of the current facility to a Thermo Master(TM) Mark III facility.  This
agreement  was  executed  on  October  2,  2000.  The  value  of this project is
$10,000,000  and  the  project will be completed during the third quarter of the
Company's year.  Planet Earth Design Build Inc. is well underway on this project
which  is  billed  on  a  cost  plus  15%  basis.

     2.     Planet  Earth  Design  Build  Inc.  also  has a Turnkey Construction
Agreement  with  Richmond  Bio  Conversion  Inc.  to complete the rebuild of the
current facility.  This agreement was executed on October 2, 2000.  Work on this
project  has  begun.  The  minimum  value  of  the  project  is  $13,333,333.

     3.     Planet  Earth  Management  Inc. has six current cost plus contracts.
They currently have three signed contracts with Hamilton Bio Conversion Inc. and
three  with  Richmond  Bio  Conversion,  including  a commissioning and training
agreement,  maintenance  service  agreement  and  a technical service agreement.
Planet Earth Management Inc. has the people and organization working to optimize
the  facilities  performance.

          a.     The commissioning  and training  agreement will ensure when the
     new facility is built all equipment and machinery is properly  commissioned
     and working  according  to  specification  and all  personal  are  properly
     trained to operate the facility and it equipment. These services are billed
     on a cost plus basis and ensure  that the  facility  is  operating  at peek
     performance within the first three months.

          b.      A five-year  maintenance  contact  has  been  signed  by  each
     facility to keep the operations running at peek performance and ensure that
     all aspects of the operation are quickly and efficiently  dealt with. These
     services are charged on a cost plus basis.

          c.      A  five-year  technical  services  agreement  has  also   been
     signed by each facility for a monthly fee of $6,667 and additional services
     changed at cost plus. This agreement will ensure the  significant  know-how
     of Planet  Earth  Management  Inc.  concerning  the  design,  construction,
     operation and  maintenance  of industrial  process  plants that utilize the
     Thermophilic aerobic digestion process will be available to each plant.

     4.     Earth  Alliance Systems Inc. has entered into a 12-year Waste Supply
Agreement  with  Hamilton  Bio  Conversion  Inc. to ensure the facility receives
adequate  raw  waste  for processing.  This agreement was executed on October 2,
2000.  Earth  Alliance  Systems  Inc.  has  the  collection  system in place and
further  acquisitions  will only strengthen its current Ontario market position.


                                      -12-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

     5.     On  October  2,  2000,  PEOSI  signed a 12 year End Product Purchase
Agreement  with Hamilton Bio Conversion Inc.  This agreement enables the Company
to  broker  the  valuable  end  product  commodity  to  the  world.

     6.     PEOSI is also currently performing Accounting, Operating and General
Administrative  Services  under  a  Consulting  agreement  with  Thermo Tech(TM)
Technologies  Inc.  The  Agreement  provides  for a $200,000 monthly fee and all
costs  charged  at  cost plus.  This agreement has been operating since April 1,
2000  when  a $2,000,000 payment was made for these services.  The Agreement has
been  renewed  for  a  further  nine  month  period  beginning  January 1, 2001.

     7.     Planet Earth Design Build Inc. is currently preparing 12 feasibility
studies  for  new  projects, to assess what is required in each area.  These new
projects  can  generate 12 new sites for total recycling for the Company.  These
current  contacts  enable  the Company to provide its value added services to it
clients  and  ensure  room  for  future  expansion  with  new facilities and new
opportunities.

PLAN  OF  OPERATIONS

The  Company is in the early stages of operations and is focused on implementing
and developing its business plan to meet its growth objectives.  The majority of
the  current  resources  of the Company are focused on this growth.  However, in
addition  to  the  current  operations,  the  Company  is  pursuing  several new
acquisitions.

The first potential acquisition is in Ontario, Canada.  The target is in the raw
waste  collection  and  depackaging  business.  The  Company  will  be  able  to
restructure the operations to fit into its business operations.  This may become
a  show  case  satellite  center for the Ontario market, enabling the Company to
expand  into  the  United  States.  Negotiations  are  currently underway but no
definitive  agreement  has  been  reached  with  the  Company.

The  second current acquisition is in New York.  The business has an interest in
a  proprietary technology business and a current waste recycling facility, which
the  Company  believes will be of benefit to its operations both financially and
technologically.  Negotiations  are  currently  in  the  final  stages,  but  no
definitive  agreement  has  been  reached  with  the  New  York  company.

FINANCIAL  CONDITION  AND  RESULTS  OF  OPERATIONS

Three  Months  Ended  September 30, 2000 Compared to the Seven Months Ended June
30,  2000

This  information  has  been derived from unaudited interim financial statements
for the period ended September 30, 2000 and audited financial statements for the
seven-month  period  ended  June 30, 2000. Results of operations for any interim
period  are  not  necessarily indicative of results to be expected from the full
fiscal  year.


                                      -13-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

The  Company's  operations,  going  forward,  are  the  operations of the merged
private  company,  Planet  Earth  Recycling  Inc.,  as  this  is  the continuing
business.  For  comparison purposes this quarter, the period ended June 30, 2000
will  be  used.  As  no  useful operating figures exist for the same period last
year,  July  1, 1999 to September 30, 1999, those figures will not be presented.

     Net  Income
     -----------

For  the  three  months  ended September 30, 2000, the Company had net income of
$1,065,180.  This  is  an  increase  of  $140,719  over  the comparison period's
operations,  which produced net income of $924,461.  This increase in net income
is  based on growing the operations of the Company.  Strong growth will continue
in  the next quarters as the business continues to develop based on the business
plan  of  the  Company.

     Operating  Revenue
     ------------------

Total revenue for the three months ended September 30, 2000 was $1,809,706.  The
Company  increased  revenue by $713,892 or 65% over total revenues for the seven
months  ended  June  30,  2000, which were $1,095,814.  The increase in revenues
resulted  from  work  on  the  Hamilton  Bio  Conversion  project,  Richmond Bio
Conversion  project,  several new projects and continued business growth in each
subsidiary.  The  Company's projects are all charged out on a cost plus basis to
facilitate  revenue  growth.

     Operating  Costs  and  Expenses
     -------------------------------

The  Company  had  an  increase  in  expenses  of  $587,428 during the period to
$763,387  as  compared  to  the previous period with total operating expenses of
$175,959.  The  increased  expenses  reflect the growth in operations, including
increases in the number of consultants and employee's to implement the Company's
business  plan.  Other  areas of increases included professional fees related to
the  merger  and  increased  general  and  administration  fees.  The Company is
currently charging out at cost plus 15%.  The Company also wrote off the cost of
the  exploration  advance  and mineral property as it turns its focus to its new
business.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  Company  had  cash  of $2,099,628 and a working capital of $1,006,009 as of
September  30,  2000.  This  is  compared  to  cash  of $1,877,144 and a working
capital deficit of $78,778 as at June 30, 2000.  The increase is a direct result
of  the  net  income  during  the  period  of  $1,065,180.

Management  estimates  the monthly cash "burn rate" to be approximately $400,000
per month.  The Company believes it has sufficient cash resources to operate its
business  over  the  next  twelve months.  Depending on market acceptance of the
Company's current business model, the Company may raise additional funds, either
debt  or  equity,  to  augment  future  growth  of  the  business.


                                      -14-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

Management  believes  that current cash balances and cash flows from operations,
if any, will be sufficient to meet present growth strategies and related working
capital  and  capital  expenditure  requirements.  The  current  business  plan
proposes  significant  increases  in  spending  when  compared  to  historical
expenditures.  Management  may  decide  to  raise additional capital through the
issuance  of  additional  debt  or  equity  securities.

The  Company  plans  to utilize a combination of internally generated funds from
operations,  potential  debt  and / or equity financings to fund its longer-term
growth  over  a  period  of  two  to  five  years.  The  availability  of future
financings  will  depend  on  market conditions.  A portion of the funds will be
needed  to  grow  the  business  through  acquisitions  of  other  businesses.

The  forecast  of  the  period  of  time  through  which the Company's financial
resources  will be adequate to support operations is a forward-looking statement
that  involves  risks  and  uncertainties.  The  actual funding requirements may
differ  materially  from this as a result of a number of factors including plans
to  acquire  other  businesses  and  rapidly  expand  its  operations.

EFFECT  OF  FLUCTUATIONS  IN  FOREIGN  EXCHANGE  RATES

The  Company's  current  operations  are located outside the United States.  The
functional  currency  for  this  foreign  operation  is the local currency.  The
carrying  value of the Company's investments in Canada is subject to the risk of
foreign  currency  fluctuations.  Any  revenues  received  from  the  Company's
international  operations  will  be  subject  to  foreign  exchange  risk.

RISK  FACTORS

     THE COMPANY  MAY  REQUIRE  ADDITIONAL  EQUITY  FINANCING,  WHICH MAY NOT BE
     AVAILABLE AND MAY DILUTE THE OWNERSHIP INTERESTS OF INVESTORS.

The  Company's  ultimate  success will depend on its ability to raise additional
capital.  No  commitments  to  provide  additional  funds  have  been  made  by
management  or  other  shareholders.  The  Company  has  not  investigated  the
availability,  source  or  terms that might govern the acquisition of additional
financing.  When  additional capital is needed, there is no assurance that funds
will be available from any source or, if available, that they can be obtained on
terms  acceptable  to  the  Company.  If not available, the Company's operations
could  be  severely  limited,  and  it may not be able to implement its business
plan.  If  equity  financing  is  used  to raise additional working capital, the
ownership  interests  of  existing  shareholders  may  be  diluted.

     THE COMPANY'S OPERATING RESULTS ARE LIKELY TO FLUCTUATE SIGNIFICANTLY.

As  a  result of the Company's limited operating history and the rapid expansion
of  its  business  operations,  the  Company's quarterly and annual revenues and
operating  results  are  likely  to  fluctuate  from period to period.  For this
reason,  you  should  not  rely on period-to-period comparisons of the Company's
financial  results  as  indications  of  future  results.  The  Company's future
operating results could fall below the expectations of public market analysts or
investors  and  significantly  reduce  the  market  price  of  its common stock.
Fluctuations  in  the  Company's  operating  results  will  likely  increase the
volatility  of  its  stock  price.


                                      -15-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

     THE COMPANY  DEPENDS ON THE  RELIABILITY  AND CONTINUITY OF ITS SERVICES AS
     PROVIDED BY ITS SUBSIDIARIES.

As  a  service provider, the Company is dependent upon the continued reliability
of  its  individual subsidiaries to provide high quality services.  Although the
Company  has  reliable  systems in place, and has not had any problems providing
quality service, there is no guarantee that the Company will be able to continue
to  provide  reliable  services.

     THE COMPANY'S  DEPENDENCE ON RELATIONSHIPS  WITH BUSINESSES AND GOVERNMENTS
     OUTSIDE OF THE UNITED STATES INVOLVES RISKS.

The  Company  depends  on  its  ability  to  establish  and  maintain successful
relationships  with  businesses  and  governments  located outside of the United
States.  If  the Company is unable to establish and maintain such relationships,
it will not be able to implement the business plan in its current configuration,
which  will  affect  both its revenue stream and profit potential.  In addition,
the  Company  faces  political  sovereign  risks  of  conducting  international
business,  including  risks  of  changing  economic conditions, which may have a
material  adverse  effect  on  its  ability  to  expand its operations globally.

     POTENTIAL BUSINESS COMBINATIONS COULD BE DIFFICULT TO INTEGRATE AND DISRUPT
     BUSINESS OPERATIONS.

Any  acquisition  of  or business combination with another company could disrupt
the  Company's  ongoing business, distract management and employees and increase
the  Company's expenses.  If another company acquires the Company, it could face
difficulties  in  assimilating  with  that  company's  personnel and operations.
Acquisitions also involve the need for integration into existing administration,
services,  marketing,  and  support  efforts.

     THE COMPANY DOES NOT ANTICIPATE PAYING DIVIDENDS TO COMMON  SHAREHOLDERS IN
     THE FORESEEABLE  FUTURE,  WHICH MAKES INVESTMENT IN THE COMPANY SPECULATIVE
     OR RISKY.

The  Company  has not paid dividends on its common stock and does not anticipate
paying  dividends  on  its  common stock in the foreseeable future. The Board of
Directors  has  sole  authority  to  declare  dividends payable to the Company's
shareholders.  The  fact  that  the  Company  has  not  and does not plan to pay
dividends  indicates  that  the  Company  must use all of its funds generated by
operations for reinvestment in its operating activities and also emphasizes that
the  Company  may not continue as a going concern.  Investors also must evaluate
an  investment  in the Company solely on the basis of anticipated capital gains.


                                      -16-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

                         PART II.     OTHER INFORMATION

ITEM  1.  LEGAL  PROCEEDINGS
-----------------------------

None

ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS
---------------------------------------------------------

On  September 14, 2000, the Company issued 150,000 shares to 717108 Alberta Ltd.
in  settlement  of  a  debt in the amount of $150.  717108 Alberta Ltd. is not a
U.S.  company.  The offering of the shares of common stock of Adventure Minerals
was  conducted  pursuant  to  an exemption from registration, namely Rule 506 of
Regulation  D  and  /  or Regulation S of the Securities Act of 1933, as amended
(the  "Act").  As  a  result,  the  shares  held  by  717108  Alberta  Ltd.  are
"restricted  securities"  subject  to  Rule  144  of  the  Act.

As  disclosed  in  a  report  on  Form 8-K dated September 15, 2000 and filed on
September 29, 2000 under the name Adventure Minerals Inc., an Agreement and Plan
of  Reorganization  was entered into between Adventure Minerals, Inc. and Planet
Earth Recycling Inc.  Pursuant to that agreement, Adventure Minerals Inc. issued
10,000,000 shares to the shareholders of Planet Earth Recycling Inc. in exchange
for 10,000,000 shares of Planet Earth Recycling Inc.  All 19 of the Planet Earth
Recycling  shareholders  were  not  U.S. persons.  The offering of the shares of
Adventure  Minerals  to  the  Company  shareholders was conducted pursuant to an
exemption from registration, namely Rule 506 of Regulation D and / or Regulation
S  of  the  Securities  Act  of  1933, as amended (the "Act").  As a result, the
shares  held  by  the  former  shareholders  of  Planet Earth Recycling Inc. are
"restricted  securities"  subject  to  Rule  144  of  the  Act.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K
------------------------------------------------

(A)  EXHIBITS.  The  following  exhibits  accompany  this  Form  10-QSB:


EXHIBIT NO.  DESCRIPTION
-----------  -----------
   10.1        License Agreement dated March 28, 2000

   10.2        Consulting Agreement dated April 1, 2000

   10.3        Master(TM) Service Agreement dated April 6, 2000

   10.4        Turnkey Construction Agreement with Hamilton Bio Conversion, Inc.
               dated October 2, 2000

   10.5        Commissioning   and   Training   Agreement   with   Hamilton  Bio
               Conversion, Inc. dated October 2, 2000


                                      -17-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

   10.6        Maintenance Services Agreement with Hamilton Bio Conversion, Inc.
               dated October 2, 2000

   10.7        Technical Services  Agreement with Hamilton Bio Conversion,  Inc.
               dated October 2, 2000

   10.8        Waste Supply  Agreement with Hamilton Bio Conversion,  Inc. dated
               October 2, 2000

   10.9        End Product Purchase  Agreement with Hamilton Bio Conversion Inc.
               dated October 2, 2000

   10.10       Turnkey Construction  agreement with Richmond Bio Conversion Inc.
               dated October 2, 2000

   10.11       Commissioning   and   Training   Agreement   with   Richmond  Bio
               Conversion Inc. dated October 2, 2000

   10.12       Maintenance  Services Agreement with Richmond Bio Conversion Inc.
               dated October 2, 2000

   10.13       Technical  Services  Agreement with Richmond Bio Conversion  Inc.
               dated October 2, 2000

   27.1        Financial Data Schedule

(b)  REPORTS  ON  FORM 8-K.  The following reports on Form 8-K were filed during
the  period  covered  by  this  Form  10-QSB:

Adventure  Minerals  Inc. Form 8-K, dated September 15, 2000, and filed with the
--------------------------------------------------------------------------------
Securities  and  Exchange  Commission  on  September  29,  2000.
-----------------------------------------------------------------

This  report  included an Item 1 disclosure regarding a change in control of the
registrant whereby Adventure Minerals Inc. entered into an Agreement and Plan of
Reorganization with Planet Earth Recycling Inc.  Item 1 disclosed that the first
step of the reorganization consisted of merging Planet Earth Recycling Inc. with
and  into  AMVL  Sub  One,  a  wholly  owned subsidiary of Adventure Minerals in
exchange  for common stock of Adventure Minerals.  The Form 8-K also included an
Item 2 disclosure regarding the acquisition or disposition of assets pursuant to
the  merger,  where  each issued and outstanding share of common stock of Planet
Earth  Recycling  Inc.  was exchanged for one share of common stock of Adventure
Minerals.  In addition, Item 2 contained a disclosure describing the second step
in  the  Agreement  and Plan of Reorganization, whereby AMVL Sub One merged with
and  into Adventure Minerals.  Item 2 also contained an extensive description of
the  businesses  of  Adventure Minerals and Planet Earth Recycling Inc. The Form
8-K  contained  an  Item  8 disclosure regarding a change in the fiscal year end
from  April  30  to  June  30  and an Item 7 disclosure containing the following
Planet  Earth  Recycling  Inc.  financial  statements:


                                      -18-
<PAGE>
                           PLANET EARTH RECYLCING INC.
                       (Formerly Adventure Minerals Inc.)

     Independent Auditors' Report, dated September 6, 2000;

     Consolidated Balance Sheet as at June 30, 2000 (audited);

     Consolidated Statement of Income and Retained Earnings for the seven months
     ended June 30, 2000;

     Consolidated  Statements  of Changes in  Financial  Position  for the seven
     months ended June 30, 2000 (audited); and

     Notes to  Financial  Statements  for the seven  months  ended June 30, 2000
     (audited).

The Form 8-K also contained the following pro forma information for the combined
businesses:

     Pro Forma Balance Sheet as at April 30, 2000 (unaudited)

     Pro Forma  Statement  of  Operations  for the year  ended  April  30,  2000
     (unaudited)


                                   SIGNATURES

In  accordance  with the requirements of the Exchange Act, the registrant caused
this  report  to  be  signed  on  its  behalf by the undersigned, thereunto duly
authorized.

PLANET  EARTH  RECYCLING,  INC.


     /s/  Rowland  Wallenius                           11/14/00
-----------------------------------------        ------------------------
Rowland  Wallenius,  President                          Date


                                      -19-
<PAGE>
EXHIBIT  INDEX

EXHIBIT NO.    DESCRIPTION
-----------    -----------
   10.1        License Agreement dated March 28, 2000

   10.2        Consulting Agreement dated April 1, 2000

   10.3        Master(TM) Service Agreement dated April 6, 2000

   10.4        Turnkey Construction Agreement with Hamilton Bio Conversion, Inc.
               dated October 2, 2000

   10.5        Commissioning   and   Training   Agreement   with   Hamilton  Bio
               Conversion, Inc. dated October 2, 2000

   10.6        Maintenance Services Agreement with Hamilton Bio Conversion, Inc.
               dated October 2, 2000

   10.7        Technical Services  Agreement with Hamilton Bio Conversion,  Inc.
               dated October 2, 2000

   10.8        Waste Supply  Agreement with Hamilton Bio Conversion,  Inc. dated
               October 2, 2000

   10.9        End Product Purchase  Agreement with Hamilton Bio Conversion Inc.
               dated October 2, 2000

   10.10       Turnkey Construction  agreement with Richmond Bio Conversion Inc.
               dated October 2, 2000

   10.11       Commissioning   and   Training   Agreement   with   Richmond  Bio
               Conversion Inc. dated October 2, 2000

   10.12       Maintenance  Services Agreement with Richmond Bio Conversion Inc.
               dated October 2, 2000

   10.13       Technical  Services  Agreement with Richmond Bio Conversion  Inc.
               dated October 2, 2000

   27.1        Financial Data Schedule


                                      -20-
<PAGE>