UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                              ---------------------

                                   FORM 10QSB

                     UNDER SECTION 12(b) OR SECTION 12(g) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
                      FOR THE QUARTER ENDED JUNE 30, 2004

                              TREND MINING COMPANY
                 (NAME OF SMALL BUSINESS ISSUER IN ITS CHARTER)

              DELAWARE                                     81-0304651
   (STATE OR OTHER JURISDICTION OF                     (I.R.S. EMPLOYER
  INCORPORATION OR ORGANIZATION)                      IDENTIFICATION NO.)


                              301 Central Ave. #384
                              Hilton Head, SC 29926

                     (ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)

                    ISSUER'S TELEPHONE NUMBER: (843) 842-4048


           SECURITIES TO BE REGISTERED UNDER SECTION 12(b) OF THE ACT:

                                      NONE
                                (TITLE OF CLASS)

           SECURITIES TO BE REGISTERED UNDER SECTION 12(g) OF THE ACT:

                             COMMON PAR VALUE $0.01
                                (TITLE OF CLASS)

--------------------------------------------------------------------------------
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED
TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING
THE PRECEDING 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.

YES [X]    NO [ ]

THE NUMBER OF SHARES OUTSTANDING AT JUNE 30, 2004: 35,321,585 SHARES


<PAGE>





                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)

                              FINANCIAL STATEMENTS

                                  JUNE 30, 2004




<PAGE>

                              TREND MINING COMPANY



FINANCIAL STATEMENTS

         Balance Sheets                                                       1

         Statements of Operations                                             2

         Statement of Stockholders' Equity (Deficit)                          3

         Statements of Cash Flows                                             9


NOTES TO THE FINANCIAL STATEMENTS                                            10

MANAGEMENT DISCUSSION AND ANALYSIS                                           13





<PAGE>

ITEM 1.      FINANCIAL STATEMENTS AND NOTES


TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                               June 30,
                                                                                 2004         September 30,
                                                                              (unaudited)         2003
                                                                              -----------      -----------
<S>                                                                           <C>              <C>
ASSETS

CURRENT ASSETS
      Cash                                                                    $   202,724      $     2,558
      Marketable securities                                                            --
                                                                              -----------      -----------
           TOTAL CURRENT ASSETS                                                   202,724            2,558
                                                                              -----------      -----------

MINERAL PROPERTIES                                                                     --               --
                                                                              -----------      -----------

PROPERTY AND EQUIPMENT, net of depreciation                                         3,103            5,172
                                                                              -----------      -----------
OTHER ASSETS
      Investments                                                                  25,000           57,300
                                                                              -----------      -----------

TOTAL ASSETS                                                                  $   230,827      $    65,030
                                                                              ===========      ===========
LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
      Accounts payable                                                        $   295,367      $   146,419
      Accounts payable- checks in excess of bank balance                               --            3,297
      Accrued expenses                                                             77,700               --
      Interest payable                                                            107,453          135,425
      Loans payable to stockholders                                             1,032,857        1,097,857
                                                                              -----------      -----------
           TOTAL CURRENT LIABILITIES                                            1,513,377        1,382,998
                                                                              -----------      -----------

COMMITMENTS AND CONTINGENCIES                                                          --               --
                                                                              -----------      -----------
STOCKHOLDERS' DEFICIT
      Preferred stock,  $0.01 par value, 20,000,000 shares
           authorized; 0 and 1 share issued and outstanding, respectively              --               --
      Common stock,  $0.01 par value, 100,000,000
           shares authorized; 35,321,585 and 33,229,085 shares
           issued and outstanding, respectively                                   353,216          332,291
      Additional paid-in capital                                                6,677,498        6,246,963
      Stock options and warrants                                                1,374,007        1,383,042
      Pre-exploration stage accumulated deficit                                  (558,504)        (558,504)
      Accumulated deficit during exploration stage                             (9,128,767)      (8,723,560)
      Other comprehesive income                                                        --            1,800
                                                                              -----------      -----------
           TOTAL STOCKHOLDERS' DEFICIT                                         (1,282,550)      (1,317,968)
                                                                              -----------      -----------
TOTAL LIABILITIES AND
      STOCKHOLDERS' DEFICIT                                                   $   230,827      $    65,030
                                                                              ===========      ===========
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       1
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                                                    Period from
                                                                                                                  October 1, 1996
                                                                                                                   (Inception of
                                                 Three Months     Three Months     Nine Months      Nine Months   Exploration Stage)
                                                    Ended            Ended           Ended             Ended             to
                                                  June 30,          June 30,        June 30,          June 30,        June 30,
                                                    2004             2003             2004             2003             2004
                                                 (unaudited)      (unaudited)      (unaudited)      (unaudited)     (unaudited)
                                                 ------------     ------------     ------------     ------------   ----------------
<S>                                              <C>              <C>              <C>              <C>              <C>
REVENUES                                         $         --     $         --     $         --     $         --     $         --
                                                 ------------     ------------     ------------     ------------     ------------
EXPENSES
     Exploration expense                                   --               --               --           58,979        2,909,066
     General and administrative                       107,433           73,267          152,155          303,413        2,416,144
     Officers and directors compensation               44,600           11,607          119,700           48,515        1,505,096
     Legal and professional                           156,380            5,954          234,012           40,706        1,371,790
     Depreciation                                         690            2,628            2,069            8,024           51,045
                                                 ------------     ------------     ------------     ------------     ------------
          Total Expenses                              309,103           93,456          507,936          459,637        8,253,141
                                                 ------------     ------------     ------------     ------------     ------------

OPERATING LOSS                                        (309103)         (93,456)        (507,936)        (459,637)      (8,253,141)
                                                 ------------     ------------     ------------     ------------     ------------
OTHER INCOME (EXPENSE)
     Dividend and interest income                          --               --               --               --            6,398
     Gain (loss) on disposition and impairment
       of assets                                           --               --               --               --         (177,519)
     Gain (loss) on investments                       (40,500)           3,666          (40,383)          32,833          (63,463)
     Financing expense                                     --               --               --               --       (1,135,113)
     Interest expense                                 (22,573)         (21,483)         (67,221)         (62,684)        (291,035)
     Miscellaneous income (expense)                        --               --          210,333               --          220,678
     Forgiveness of debt                                   --               --               --          122,354          564,428
                                                 ------------     ------------     ------------     ------------     ------------
          Total Other Income (Expense)                (63,073)         (17,817)         102,729           92,503         (875,626)
                                                 ------------     ------------     ------------     ------------     ------------

LOSS BEFORE INCOME TAXES                             (372,176)        (111,273)        (405,207)        (367,134)      (9,128,767)
                                                 ------------     ------------     ------------     ------------     ------------

INCOME TAXES                                               --               --               --               --               --
                                                 ------------     ------------     ------------     ------------     ------------
NET LOSS                                             (372,176)        (111,273)        (405,207)        (367,134)      (9,128,767)
                                                 ------------     ------------     ------------     ------------     ------------
OTHER COMPREHENSIVE INCOME (LOSS)
     Change in market value of investments            (33,030)              --           (1,800)              --               --
                                                 ------------     ------------     ------------     ------------     ------------

NET COMPREHENSIVE INCOME (LOSS)                  $   (405,206)    $   (111,273)    $   (407,007)    $   (367,134)      (9,128,767)
                                                 ============     ============     ============     ============     ============

BASIC AND DILUTED NET LOSS PER SHARE             $      (0.01)    $        nil     $      (0.01)    $      (0.01)
                                                 ============     ============     ============     ============
WEIGHTED AVERAGE NUMBER OF COMMON
     SHARES OUTSTANDING BASIC AND DILUTED          34,556,585       30,147,207       33,671,585       27,535,365
                                                 ============     ============     ============     ============
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       2
<PAGE>


TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>
Balance, October 1, 1996                        1,754,$42  $  17,542 $   663,218 $        --      (5$8,504) $      --       122,256

Common stock issuances as follows:
  - for cash at $0.50 per share                   200,000      2,000      98,000          --            --         --       100,000
  - for payment of liabilities and expenses
     at $0.50 per share                            45,511        455      22,301          --            --         --        22,756

Net loss for the year ended September 30, 1997         --         --          --          --      (128,614)        --      (128,614)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------

Balance, September 30, 1997                     1,999,753     19,997     783,519          --      (687,118)        --       116,398

Issuance of common stock as follows:
  - for mineral property at $0.50 per share       150,000      1,500      73,500          --            --         --        75,000
  - for lease termination at $0.50 per share       12,000        120       5,880          --            --         --         6,000
  - for debt at $0.50 per share                    80,000        800      39,200          --            --         --        40,000
  - for cash at $0.20 per share                     7,500         75       1,425          --            --         --         1,500
  - for compensation at $0.50 per share             9,000         90       4,410          --            --         --         4,500

Issuance of stock options for financing
  activities                                           --         --          --       2,659            --         --         2,659

Net loss for the year ended September 30, 1998         --         --          --          --      (119,163)        --      (119,163)

Change in market value of investments                  --         --          --          --            --    117,080       117,080
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------

Balance, September 30, 1998                     2,258,253  $  22,582 $   907,934 $     2,659  $   (806,281) $ 117,080  $    243,974
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       3
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>
Balance, September 30, 1998                     2,258,253  $  22,582 $   907,934 $     2,659  $   (806,281) $ 117,080  $    243,974

Common stock issuances as follows:
  - for cash at an average of $0.07 per share     555,000      5,550      35,450          --            --         --        41,000
  - for prepaid expenses at $0.33 per share        50,000        500      16,000          --            --         --        16,500
  - for consulting services at an average of
    $0.20 per share                               839,122      8,391     158,761          --            --         --       167,152
  - for mineral property at $0.13 per share       715,996      7,160      82,470          --            --         --        89,630
  - for officers' compensation at an average of
    $0.24 per share                               300,430      3,004      70,522          --            --         --        73,526
  - for debt,  investment and expenses at $0.30
    per share                                       9,210         92       2,671          --            --         --         2,763
  - for directors' compensation at an average
    of $0.25 per share                             16,500        165       3,960          --            --         --         4,125
  - for rent at $0.25 per share                     1,000         10         240          --            --         --           250
  - for equipment at $0.30 per share              600,000      6,000     174,000          --            --         --       180,000

Net loss for the year ended  September 30, 1999        --         --          --          --      (716,759)        --      (716,759)

Other comprehensive loss                               --         --          --          --            --    (79,179)      (79,179)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------

Balance, September 30, 1999                     5,345,511  $  53,454 $ 1,452,007 $     2,659  $ (1,523,040) $  37,901  $     22,982
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       4
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>

Balance, September 30, 1999                     5,345,511  $  53,454 $ 1,452,007 $     2,659  $ (1,523,040) $  37,901  $     22,982

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    $0.61 per share                               231,361      2,314     140,446      15,820            --         --       158,580
  - for officers' and directors' compensation
    at an average of $1.19 per share               11,500        115      13,615          --            --         --        13,730
  - for services at an average of $0.47 per share 530,177      5,302     246,333          --            --         --       251,635
  - for mineral property at $0.89 per share     1,000,000      1,000      88,000          --            --         --        89,000
  - for investments at $0.33 per share            200,000      2,000      64,000          --            --         --        66,000
  - for cash at $0.08 per share                   456,247      4,562      28,969          --            --         --        33,531
  - for cash, options and warrants                100,000     10,000       2,414      87,586            --         --       100,000
  - for incentive fees at $0.33 per share          65,285        653      20,891          --            --         --        21,544
  - for deferred mineral property acquisition
    costs at $0.13 per share                      129,938      1,299      14,943          --            --         --        16,242
  - for modification of stockholder agreement
    at $0.60 per share                            200,000      2,000     118,000      30,000            --         --       150,000
  - for modification of stockholder agreement          --         --       4,262      10,379            --         --        14,641
  -from exercise of options at $0.12 per share  9,962,762     99,628   1,103,016     (37,524)           --         --     1,165,120

Cash received for the issuance of common stock
     warrants for 7,979,761 shares of stock            --         --          --      10,000            --         --        10,000

Miscellaneous common stock adjustments                 (5)        --          --          --            --         --            --

Net loss for the year ended  September 30, 2000        --         --          --          --    (2,186,541)        --    (2,186,541)

Other comprehensive income (loss)                      --         --          --          --            --    (38,314)      (38,314)

                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
Balance, September 30, 2000                    18,232,776  $ 182,327 $ 3,296,897 $   118,920  $ (3,709,581) $    (413) $   (111,850)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       5
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (continued)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>

Balance, September 30, 2000                    18,232,776  $ 182,327 $ 3,296,897 $   118,920  $ (3,709,581) $    (413) $   (111,850)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                   192,000      1,920     190,080          --            --         --       192,000
  - for cash and consulting services from
    options for $0.39 per share                    33,333        333      12,737      (3,070)           --         --        10,000
  - for services at an average of $0.92 per share  13,700        137      12,463          --            --         --        12,600
  - for officer and employee compensation at
    $1.13 per share                                 5,200         52       5,828          --            --         --         5,880
  - for payment of accrued officer's
    compensation at $1.35 per share                10,000        100      13,400          --            --         --        13,500
  - for consulting services at an ave of $0.77
    per share                                      45,461        455      34,247          --            --         --        34,702
  - for directors' compensation at $0.85 per
    share                                          75,000        750      63,000          --            --         --        63,750
  - for modification of contract at $0.78 per
    share                                           3,000         30       2,310          --            --         --         2,340
  - for interest payment on contract
    at an average of $0.80 per share               10,000        100       7,900          --            --         --         8,000
  - for mineral property expenses at $0.85 per
    share                                           1,000         10         840          --            --         --           850
  - for debt at $1.00 per share                   134,500      1,345     133,155          --            --         --       134,500

Options issued to officers, directors and
  employees for services                               --         --          --     354,000            --         --       354,000

Warrants issued as follows:
  - for consulting services                            --         --          --     170,521            --         --       170,521
  - for loan agreements                                --         --          --     141,547            --         --       141,547
  - for extension of exercise period
    on outstanding warrants                            --         --          --     608,058            --         --       608,058

Net loss for the year ended September 30, 2001         --         --          --          --    (3,437,354)        --    (3,437,354)

Other comprehensive income                             --         --          --          --            --        413           413
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
Balance, September 30, 2001                    18,755,970  $ 187,559 $ 3,772,856 $ 1,389,976  $ (7,146,935) $      --  $ (1,796,543)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       6
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (continued)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>
Balance, September 30, 2001                    18,755,970  $ 187,559 $ 3,772,856 $ 1,389,976  $ (7,146,935) $      --  $ (1,796,543)

Common stock issuances as follows:
  - for cash at $0.10 per share                 2,500,000     25,000     225,000          --            --         --       250,000
  - for a note payable at $1.00 per share          25,000        250      24,750          --            --         --        25,000
  - for consulting fees payable at $0.55 per
    share                                          12,536        126       6,769          --            --         --         6,895
  - for mineral properties at $0.70 per share   1,100,000     11,000     759,000          --            --         --       770,000
  - for services at an average of $0.49 per
    share                                         112,500      1,125      53,625          --            --         --        54,750
  - for financing expense at an average of
    $0.44 per share                                82,429        824      35,369          --            --         --        36,193

Options issued to officers, directors and
  employees for services                               --         --          --      29,528            --         --        29,528

Warrants issued as follows:                            --
  - for loan agreements                                --         --          --      55,352            --         --        55,352

Expiration of stock options and warrants               --         --      91,814     (91,814)           --         --            --

Interest expense forgiven by shareholders              --         --      42,950          --            --         --        42,950

Net loss for the year ended September 30, 2002         --         --          --          --    (1,168,171)        --    (1,168,171)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
Balance, September 30, 2002                    22,588,435    225,884   5,012,133   1,383,042    (8,315,106)        --    (1,694,046)

Common stock issuances as follows:
  - miscellaneous common stock adjustment          29,555        296          --          --            --         --           296
  - for cash at $0.10 per share                 5,500,000     55,000     495,000          --            --         --       550,000
  - for consulting services at an average of
    $0.15 per share                             1,763,779     17,638     243,362          --            --         --       261,000
  - for loans payable at an average of $0.10
    per share                                     369,160      3,692      33,225          --            --         --        36,917
  - for prior period services at an average
    of $.13 per share                             245,000      2,450      30,550          --            --         --        33,000
  - for investments at $0.21 per share            450,000      4,500      88,668          --            --         --        93,168
  - to officers and directors for services
    at $.10 per share                           1,423,156     14,231     129,025          --            --         --       143,256
  - penalty shares at $.26 per share              860,000      8,600     215,000          --            --         --       223,600

Change in market value of investments                  --         --          --          --            --      1,800         1,800

Net loss for the year ended September 30, 2003         --         --          --          --      (966,958)        --      (966,958)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
Balance, September 30, 2003                    33,229,085  $ 332,291 $ 6,246,963 $ 1,383,042  $ (9,282,064) $   1,800  $ (1,317,968)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       7
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (continued)

<TABLE>
<CAPTION>
                                                    Common Stock                                              Other
                                               ---------------------   Additional   Stock                 Comprehensive
                                                 Number                 Paid-in  Options and  Accumulated    Income
                                               of Shares     Amount     Capital   Warrants      Deficit      (Loss)        Total
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------
<S>                                             <C>        <C>       <C>         <C>              <C>       <C>             <C>
Balance, September 30, 2003                    33,229,085  $ 332,291 $ 6,246,963 $ 1,383,042  $ (9,282,064) $   1,800  $ (1,317,968)

Expiration of stock options and warrants               --         --       9,035      (9,035)           --         --            --

Common stock issuances as follows:
  - for cash at $0.20 per share                 1,625,000     16,250     308,750          --            --         --       325,000
  - for consulting @$0.35 per share               162,500      1,625      54,800          --            --         --        56,425
  - to officers and directors for services at
    $0.20 perr share                               60,000        600      11,400          --            --         --        12,000
  - for payment of accrued expenses at $0.20
    per share                                     120,000      1,200      22,800      24,000
  - for investments at $0.20 per share            125,000      1,250      23,750          --            --         --        25,000

Change in market value of investments                  --         --          --          --            --     (1,800)       (1,800)

Net loss for the period ended March 31, 2004
  (unaudited)                                          --         --          --          --      (405,207)        --      (405,207)
                                               ----------  --------- ----------- -----------  ------------  ---------  ------------

Balance, June 30, 2004 (unaudited)             35,321,585  $ 353,216 $ 6,677,498 $ 1,374,007  $ (9,687,271) $      --  $ (1,282,550)
                                               ==========  ========= =========== ===========  ============  =========  ============
</TABLE>

    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       8
<PAGE>

TREND MINING COMPANY
(An Exploration Stage Company)
STATEMENT OF CASH FLOWS
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                   Period from
                                                                                                 October 1, 1996
                                                                   Nine Months     Nine Months    (Inception of
                                                                      Ended           Ended       Exploration
                                                                    June 30,         June 30,        Stage) to
                                                                      2004             2003       June 30, 2004
                                                                   (unaudited)     (unaudited)     (unaudited)
                                                                   -----------     -----------    --------------
<S>                                                                <C>             <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net loss                                                        $  (405,207)    $  (367,134)    $(9,128,767)
   Adjustments to reconcile net loss to net cash used by
   operating activities:
     Depreciation                                                        2,069           8,024          51,045
     (Gain) Loss on investment sales                                    40,383         (32,833)         68,619
     Gain on sale of internal securities                              (210,194)             --        (210,194)
     Loss on disposition and impairment of assets                           --              --         185,891
     Loss (Gain) on exchange of property and equipment                      --              --          (8,372)
     Gain on forgiveness of debt and interest                               --        (122,354)        (52,849)
     Common stock issued for services
     and expenses                                                       68,425         174,645       3,158,746
     Common stock issued for accrued expenses                           24,000              --          24,000
     Stock options and warrants issued for expenses                         --              --         992,778
   Changes in assets and liabilities:
     Inventory                                                              --              --           3,804
     Accounts payable                                                  149,065        (229,706)        388,845
     Accounts payable - checks in excess of bank balance                (3,297)             --               7
     Accrued wages                                                      77,700         (42,042)          3,515
     Interest payable                                                  (27,972)         61,801          78,557
                                                                   -----------     -----------     -----------
   Net cash used by operating activities                              (285,028)       (549,599)     (4,444,375)
                                                                   -----------     -----------     -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
     Proceeds from sale of equipment                                        --              --          35,125
     Proceeds from sale of mineral property                                 --              --          20,000
     Purchase of furniture and equipment                                    --              --         (41,695)
     Proceeds from investments sold                                     15,000              --         158,515
                                                                   -----------     -----------     -----------
   Net cash provided by investing activities                            15,000              --         171,945
                                                                   -----------     -----------     -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
     Payments on notes payable and short-term borrowings              (112,500)         (2,557)       (124,556)
     Proceeds from internal securities sale                            210,194              --         210,194
     Sale of warrants for common stock                                      --              --          10,000
     Proceeds from short-term borrowings                                47,500           3,300       1,469,157
     Sale of common stock, subscriptions
     and exercise of options                                           325,000         550,000       2,683,151
     Issuance of penalty shares                                             --              --         223,600
                                                                   -----------     -----------     -----------
   Net cash provided by financing activities                           470,194         550,743       4,471,546
                                                                   -----------     -----------     -----------

NET INCREASE IN CASH                                                   200,166           1,144         199,117

CASH, BEGINNING OF PERIOD                                                2,558           2,281           3,607
                                                                   -----------     -----------     -----------

CASH, END OF PERIOD                                                $   202,724     $     3,425     $   202,724
                                                                   ===========     ===========     ===========
SUPPLEMENTAL CASH FLOW INFORMATION:
   Interest paid                                                   $    95,194     $       883     $     3,835
   Income taxes paid                                               $        --     $        --     $        --

NON-CASH FINANCING AND INVESTING ACTIVITIES:
   Common stock and warrants issued to acquire
   mineral properties and equipment                                $        --     $        --     $ 1,369,873
   Common stock and options issued for services and expenses       $    56,425     $   174,645     $ 2,723,464
   Common stock issued for investment                              $    25,000     $    93,168     $   160,168
   Common stock issued for debt                                    $        --     $    29,500     $   236,737
   Stock options  and warrants issued for expenses                 $    36,000     $        --     $ 1,028,778
   Deferred acquisition costs on mining property                   $        --     $        --     $    46,242
   Purchase of equipment with financing agreement                  $        --     $        --     $    21,814
   Investments received for mineral property                       $        --     $        --     $     5,500
   Investments traded for services                                 $        --     $        --     $    45,939
   Equipment for loans payable                                     $        --     $        --     $     4,500
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.

                                       9

<PAGE>

TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2004

--------------------------------------------------------------------------------
NOTE 1 - BASIS OF PRESENTATION OF UNAUDITED INTERIM FINANCIAL INFORMATION

The accompanying unaudited financial statements have been prepared in accordance
with accounting  principles  generally  accepted in the United States of America
for interim  financial  statements and with instructions to Form 10-QSB pursuant
to  the  rules  and  regulations  of the  Securities  and  Exchange  Commission.
Accordingly,  they do not include all of the information  required by accounting
principles  generally  accepted  in the United  States of America  for  complete
financial statements.

The  accompanying  financial  statements  should be read in conjunction with the
audited financial  statements of the Company included in the Company's September
30, 2003 Annual Report on Form 10-KSB.

In the  opinion  of  management,  all  adjustments,  consisting  only of  normal
recurring  accruals  considered  necessary  for a fair  presentation,  have been
included.  The results of operations  for the  nine-month  period ended June 30,
2004 are not necessarily  representative of operating results to be expected for
the entire fiscal year.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This  summary of  significant  accounting  policies  is  presented  to assist in
understanding the Company's financial  statements.  The financial statements and
notes rely on the integrity and objectivity of the Company's  management.  These
accounting policies conform to accounting  principles  generally accepted in the
United States of America and have been  consistently  applied in the preparation
of the financial statements.

Estimates
The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting period. Actual results could differ from those estimates.

Going Concern
As shown in the accompanying financial statements, the Company has limited cash,
has negative working capital, has no revenues, and has an accumulated deficit of
$9,687,271. These factors indicate that the Company may be unable to continue in
existence  in  the  absence  of  receiving  additional  funding.  The  financial
statements  do not include any  adjustments  related to the  recoverability  and
classification  of  recorded  assets,  or  the  amounts  and  classification  of
liabilities  that might be necessary in the event the Company cannot continue in
existence.  The Company is actively  seeking  additional  capital.  Management's
plans for the next 12 months  include,  in addition to its annual land  payments
and general and administrative  expenses,  exploration activity on the Lake Owen
and Peter Lake properties totaling approximately $125,000.


                                       10
<PAGE>

TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2004

--------------------------------------------------------------------------------
Management  believes it can sell additional  stock or debt to enable the Company
to continue to fund its operations for the next 12 months.  However,  management
is  unable  to  provide  assurances  that  it will be  successful  in  obtaining
sufficient sources of capital.

Reclassification
Certain  amounts  from prior  periods have been  reclassified  to conform to the
current period presentation.  These  reclassifications  have not resulted in any
changes to the Company's accumulated deficit or net losses presented.


NOTE 3 - RELATED PARTY TRANSACTIONS

Notes Payable - Related Parties
The following summarizes activity of loan amounts due to related parties (all of
which are unsecured) since September 30, 2003:

     Notes Payable as of September 30, 2003             $ 1,097,857
     Additions                                               47,500
     Repayments                                           (112,500)
                                                        -----------
     Notes Payable as of June 30, 2004                  $ 1,032,857
                                                        ===========

On February  12, 2004,  the Company and  Electrum and LCM Holdings  (hereinafter
"the Kaplan  Parties or "the  Lenders")  reached an agreement to adjust both the
conversion  terms on  approximately  $900,000  worth of debt  outstanding to the
Lenders  and the  exercise  prices  of  related  warrants.  Per the terms of the
agreement, the Lenders can convert each $1.25 of loans into a unit consisting of
one share of common  stock and one  warrant.  The warrant is  exercisable  for a
period of five years from the date of conversion  and is  exercisable at a price
of $1.50.  Additionally,  terms of existing  outstanding  warrants were modified
which  generally   increased  the  exercise  price  and  shortened  the  related
expiration dates. These  modifications had no financial statement impact for the
period herein reported.

Furthermore,  also on February 12, 2004,  the Company  reached an agreement with
the Lenders  concerning  certain prior  separate  stock  transactions  which had
benefited certain  controlling  shareholders.  In compliance with the Securities
and  Exchange  Rule 16b, the  shareholders  remitted the gain of $210,194 to the
Company.  This gain is reflected in the income  statement as internal  gain from
sale of securities.


                                       11
<PAGE>

TREND MINING COMPANY
(AN EXPLORATION STAGE COMPANY)
CONDENSED NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2004

--------------------------------------------------------------------------------
NOTE 4 - INVESTMENTS

The Company's  securities  investments are classified as trading  securities and
are recorded at fair value as of the balance sheet date, with the change in fair
value during the period included in earnings.

The Company's investments are summarized as follows:

                                                  June 30,     September 30,
                                                   2004            2003
                                                -----------    -------------
        Fair value:
             Western Goldfields, Inc.           $    --        $     57,300
             Integrated Pharmaceuticals             25,000          --
        Gross unrealized loss / (gain)               --             (1,800)
                                                -----------    -------------
        Cost                                    $   25,000     $     55,500
                                                ===========    =============


NOTE 5 - COMMITMENTS AND CONTINGENCIES

Consulting Agreement

On November 17, 2003, the Company  entered into a 12-month  business  consulting
agreement with LYONS CAPITAL, LLC (hereinafter "Lyons").  Under this term of the
agreement,  the Company is required to issue 40,000 shares of restricted  common
stock for each month of service plus pay Lyons a cash  finder's fee equaling 10%
of sums received from investors whom Lyons introduces to the Company. As of June
30, 2004, the Company has terminated  this contract.  Approximately  $30,000 has
been accrued for services  provided under this agreement and the Company expects
to settle this amount through the issuance of common stock at a later date.



                                       12

<PAGE>


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

Our  operating  losses for the  three-month  period  ended June 30,  2004,  were
$297,103.  Our accumulated  deficit since  inception of the current  exploration
stage  is  $8,756,590.  Our  total  loss  since  inception  of  the  company  is
$9,315,094.  Our third  quarter  operating  loss is due  primarily  to legal and
professional fees of $156,380 and officer and director compensation of $44,600.

Our  operating  cash at the end of the  quarter  totaled  $202,724.  We also own
equity  securities  which are of limited  liquidity  and which we intend to sell
from time-to-time in order to raise additional  operating  capital.  At June 30,
2004, the market value of such securities was approximately  $25,000.  We intend
to sell the  balance of these  securities  over the next three  months to assist
with funding the operations of the Company.

The  Company  needs  approximately  $40,000  per month to cover its  general and
administrative expenses,  accounting and legal fees, as well as payments made to
creditors  pursuant to payment  arrangement plans. Our long record of losses and
inability to obtain  substantial  financing for the Company raises a question of
whether the Company will continue as an ongoing business.

We sold  1,625,000  shares of common  stock at $.20 per share in May,  2004.  We
intend to use the  proceeds of this  private  placement  for  general  corporate
purposes,  payment of fees on our mining claims and limited  exploration work on
our mining properties. We intend to seek additional financing from the public or
private debt or equity  markets to continue our business  activities.  Under our
Delaware certificate of incorporation,  we have 100,000,000 authorized shares of
common stock and are authorized to issue  20,000,000  shares of preferred stock.
We currently have no preferred shares issued and outstanding.

Although we intend to continue to seek  additional  financing  through  sales of
common  stock or other  means,  there can be no  assurance  that our  efforts to
obtain  additional  financing will be successful,  or that additional  financing
will be available on terms acceptable to the Company.

Without additional substantial financing the Company will not be able to execute
its business  plan of  exploring  for  platinum  and  palladium  deposits on its
mineral  properties.  Further,  without additional  substantial  financing,  the
Company  will be unable to continue to make the  required  minimum  payments and
perform the minimum work requirements on the mineral properties it now controls.
If the Company loses control of its existing  properties  due to  non-payment or
non- performance, it would likely cease to do business.


ITEM 3. CONTROLS AND PROCEDURES.

(a) Evaluation of disclosure  controls and procedures.  Within the 90 days prior
to the filing of this Quarterly Report on Form 10-Q (the "Evaluation Date"), the
Company  carried  out  an  evaluation,   under  the  supervision  and  with  the
participation of its management,  including its Chief Executive  Officer and its
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's  disclosure controls and procedures (as defined in Rules 13a-14(c) and
15d-14(c)  under the Exchange Act).  Based upon that  evaluation,  the Company's
Chief  Executive  Officer and its Chief  Financial  Officer  concluded  that the
Company's  disclosure  controls  and  procedures  are  effective  to ensure that
material information required to be disclosed by it in the reports that it files
or  submits  under the  Exchange  Act is  recorded,  processed,  summarized  and
reported  within the time  periods  specified  in the  Securities  and  Exchange
Commission rules and forms. It should be noted,  however, that the design of any
system  of  controls  is  based  in part  upon  certain  assumptions  about  the
likelihood of future events,  and there can be no assurance that any design will
succeed in achieving  its stated goals under all  potential  future  conditions,
regardless of how remote.

<PAGE>

(b) Changes in internal  controls.  The Company  evaluates its internal controls
for financial  reporting  purposes on a regular basis. Based upon the results of
these  evaluations,  the Company considers what revisions,  improvements  and/or
corrective  actions are necessary in order to ensure that its internal  controls
are  effective.  The Company is currently  in the process of improving  internal
controls relating to transmittal of its financial information to its accountants
in a more timely manner.  To achieve this goal, the Company is implementing on a
company-wide  basis a  computerized  system  which will  automate the process of
collection of financial data.

The Company has not made any other significant changes in the Company's internal
controls or in other  factors that could  significantly  affect  these  controls
subsequent to the date of their last evaluation.


FORWARD-LOOKING STATEMENTS

This Form 10-QSB contains  forward-looking  statements that involve  substantial
risks and uncertainties. Investors and prospective investors in our common stock
can identify these  statements by  forward-looking  words such as "may," "will,"
"expect," "intend,"  "anticipate,"  believe,"  "estimate,"  "continue" and other
similar  words.  Statements  that contain  these words should be read  carefully
because they discuss our future  expectations,  make  projections  of our future
results  of   operations   or  of  our   financial   condition  or  state  other
"forward-looking" information.

We believe that it is important to communicate  our future  expectations  to our
investors.  However,  there may be events in the future  that we are not able to
predict  accurately  or  control.  The factors  listed in the section  captioned
"Management's  Discussion  and  Analysis or Plan of  Operation,"  as well as any
cautionary   language  in  this  Form   10-QSB,   provide   examples  of  risks,
uncertainties  and events that may cause our actual results to differ materially
from the expectations we describe in our forward-looking  statements.  Investors
and  prospective  investors  in our  common  stock  should  be  aware  that  the
occurrence of the events described in the "Management's  Discussion and Analysis
or Plan of  Operation"  section and  elsewhere  in this Form 10-QSB could have a
material  adverse  effect  on our  business,  operating  results  and  financial
condition.


PART II

ITEM 1.   LEGAL PROCEEDINGS.

Nevada Southwest  Investments  LLC, dba Reno Business Park,  obtained a judgment
against the Company in the Second Judicial  District,  Washoe County,  Nevada to
collect the amount of $17,608.29  due under a rental lease  agreement for office
space the Company chose to vacate. The Company did not contest this action since
it had no basis to do so.  This court  judgment,  unless  paid,  may  ultimately
result in liens against the Company bank account,  other Company assets,  or the
mineral  properties  held by the  Company.  Such  liens  may have the  impact of
reducing the capability of the Company to remain as a going concern. The Company
is  currently  negotiating  with the counsel of the  creditor  to make  suitable
payment arrangements to pay this judgment over time.

We are  unaware of any other  legal  proceedings  involving  the Company at this
time. However,  because we have accounts payable,  some of which are overdue, it
is  possible  that at anytime  creditors  of the  Company  could take  action to
collect such amounts due.

<PAGE>

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

We had 35,321,585  shares of common stock issued and  outstanding as of June 30,
2004.

Common Stock
-------------

During the report period the Company  issued  1,625,000  shares for cash at $.20
per share;  162,500  shares  valued at $.35 per share for  consulting  services;
60,000 shares valued at $.20 for officer and director  services;  120,000 shares
valued at $.20 per share for accrued  expenses;  and 125,000  shares at $.20 per
share for investments acquired.

Options
-------

None issued during the reporting period.

Warrants
--------

None issued during the reporting period.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

None.

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

(a)     Exhibits

None.

-------------

(b) Reports on Form 8-K.

None


<PAGE>

                                   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.

TREND MINING COMPANY


Dated:  August 19, 2004
By: /s/ Thomas Loucks
-------------------------
Thomas Loucks
President and Chief Executive Officer
(Principal Executive Officer)


Dated:  August 19, 2004
By: /s/ John P. Ryan
-------------------------
John P. Ryan
Chief Financial Officer