SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549



                                   FORM 10-QSB

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

                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2001

                           COMMISSION FILE NO. 0-31159

                              TREND MINING COMPANY
        (Exact Name of Small Business Issuer as Specified in its Charter)

                DELAWARE                                 81-0304651
     (State or other jurisdiction of        (I.R.S. Employer Identification No.)
      incorporation or organization)

           401 FRONT AVENUE
         SUITE 1, SECOND FLOOR
         COEUR  D'ALENE,  IDAHO                            83814
  (Address of principal executive offices)              (Zip Code)

                                 (208) 664-8095
                           (Issuer's telephone number)

Check  whether  the  issuer  (1)  has  filed all reports required 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.

                                              Yes  /X/          No  / /

There  were  18,617,770  shares  of  the  Registrant's no par value common stock
outstanding  as  of  August  13,  2001.

Transitional  Small  Business  Disclosure:    Yes  / /          No  /X/


<PAGE>
PART  1
ITEM  1.  FINANCIAL  STATEMENTS




The  Board  of  Directors
Trend  Mining  Company
(Formerly  Silver  Trend  Mining  Company)
Coeur  d'Alene,  Idaho


                           ACCOUNTANT'S REVIEW REPORT
                           --------------------------


We  have  reviewed  the  accompanying  balance  sheet  of  Trend  Mining Company
(formerly Silver Trend Mining Company) (an exploration stage company) as of June
30,  2001  and  the  related  statements  of  operations and comprehensive loss,
stockholders'  equity  (deficit),  and cash flows for the nine months ended June
30,  2001  and  2000,  and  for  the  period  from October 1, 1996 (inception of
exploration  stage)  to  June  30,  2001.  All  information  included  in  these
financial  statements  is  the  representation of the management of Trend Mining
Company.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A  review  of  interim financial
information  consists principally of applying analytical procedures to financial
data  and  making  inquiries of persons responsible for financial and accounting
matters.  It  is  substantially  less  in scope than an audit in accordance with
auditing  standards  generally  accepted  in  the  United States of America, the
objective  of  which  is  the  expression  of an opinion regarding the financial
statements  taken  as  a whole.  Accordingly, we do not express such an opinion.

Based  on our review, we are not aware of any material modifications that should
be  made  to  the  accompanying  financial statements in order for them to be in
conformity with accounting principles generally accepted in the United States of
America.

The  financial  statements for the year ended September 30, 2000 were audited by
us  and we expressed an unqualified opinion on them in our report dated December
15,  2000 and May 17, 2001.  We have not performed any auditing procedures since
those  dates.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.  As  discussed  in Note 2 to the
financial  statements,  the  Company's  significant  operating  losses  raise
substantial  doubt  about  its  ability  to  continue  as  a  going  concern.
Management's  plans regarding the resolution of this issue are also discussed in
Note  2.  The  financial  statements  do  not include any adjustments that might
result  from  the  outcome  of  this  uncertainty.



Williams  &  Webster,  P.S.
Certified  Public  Accountants
Spokane,  Washington

August  10,  2001


                                       2
<PAGE>
<TABLE>
<CAPTION>
                                TREND MINING COMPANY
                       (FORMERLY SILVER TREND MINING COMPANY)
                           (AN EXPLORATION STAGE COMPANY)
                                   BALANCE SHEETS


                                                      June 30,        September 30,
                                                        2001              2000
                                                    (Unaudited)
                                                 -----------------  ---------------
ASSETS
<S>                                              <C>                <C>
CURRENT ASSETS
  Cash                                           $          3,628   $      102,155
  Prepaid expenses                                              -            1,725
  Equipment held for resale                                 4,000            4,000
                                                 -----------------  ---------------
    Total Current Assets                                    7,628          107,880
                                                 -----------------  ---------------

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

PROPERTY AND EQUIPMENT, net of depreciation                26,716           40,177
                                                 -----------------  ---------------

OTHER ASSETS
  Investments                                                   -          107,250
                                                 -----------------  ---------------


TOTAL ASSETS                                     $         34,344   $      255,307
                                                 =================  ===============

LIABILITIES AND STOCKHOLDERS' EQUITY(DEFICIT)

CURRENT LIABILITIES
  Accounts payable                               $      1,029,372   $      323,228
  Accounts payable to directors and officers               83,798           11,100
  Accrued expenses                                         29,591           17,489
  Accured interest payable                                 16,059            1,958
  Note payable to stockholder                             535,000                -
  Current portion of long-term debt                         3,308            2,992
                                                 -----------------  ---------------
    Total Current Liabilities                           1,697,128          356,767
                                                 -----------------  ---------------

LONG-TERM DEBT, net of current portion                      7,943           10,389
                                                 -----------------  ---------------

COMMITMENTS AND CONTINGENCIES                                   -                -
                                                 -----------------  ---------------

STOCKHOLDERS' EQUITY(DEFICIT)
  Preferred stock,  .01 par value, 20,000,000
    shares authorized; 1 and none shares
    issued and outstanding, respectively                        -                -
  Common stock,  .01 par value, 100,000,000
    shares authorized; 18,565,803 and
    18,232,776 shares issued and outstanding,
    respectively                                          185,727          182,328
  Additional paid-in capital                            3,601,677        3,292,635
  Stock options and warrants                            1,342,672          123,182
  Pre-exploration stage accumulated deficit              (558,504)        (558,504)
  Accumulated deficit during exploration stage         (6,242,299)      (3,151,077)
  Accumulated other comprehensive income (loss)                 -             (413)
                                                 -----------------  ---------------
    TOTAL STOCKHOLDERS' EQUITY(DEFICIT)                (1,670,727)        (111,849)
                                                 -----------------  ---------------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY(DEFICIT)                  $         34,344   $      255,307
                                                 =================  ===============
</TABLE>


                  See accompanying notes and accountant's review report.
                                        2
<PAGE>
<TABLE>
<CAPTION>
                                                 TREND MINING COMPANY
                                        (FORMERLY SILVER TREND MINING COMPANY)
                                            (AN EXPLORATION STAGE COMPANY)
                                   STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

                                                                                                 Period from
                                                                                               October 1, 1996
                                                                                                (Inception of
                                              Three Months Ended         Nine Months Ended       Exploration
                                         --------------------------  --------------------------   Stage) to
                                           June 30,      June 30,       June 30,     June 30,      June 30,
                                             2001          2000          2001          2000         2001
                                         (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                                         ------------  ------------  ------------  ------------  ------------
<S>                                      <C>           <C>           <C>           <C>           <C>
REVENUES                                 $          -  $         -             -             -             -
                                         ------------  ------------  ------------  ------------  ------------
EXPENSES
  Mineral property expense                     25,838      409,238       247,988       584,232     1,727,802
  General and administrative                  125,542       79,713       812,607       347,142     1,446,006
  Officers and directors compensation          79,738       84,752       680,532       207,266     1,076,590
  Legal and professional                      184,403       34,605       539,669       111,843       924,349
  Depreciation                                  4,487        3,105        13,461         3,980        24,572
                                         ------------  ------------  ------------  ------------  ------------
    Total Expenses                            420,008      611,413     2,294,257     1,254,463     5,199,319
                                         ------------  ------------  ------------  ------------  ------------

OPERATING LOSS                               (420,008)    (611,413)   (2,294,257)   (1,254,463)   (5,199,319)
                                         ------------  ------------  ------------  ------------  ------------

OTHER INCOME (EXPENSE)
  Dividend and interest income                    16           773           244           927         6,583
  Loss on disposition and impairment
    of assets                                      -             -             -             -      (188,226)
  Gain (loss) on investment sales                  -             -       (78,033)        5,420       (76,724)
  Financing expense                                -       (36,185)     (698,039)      (36,185)     (768,403)
  Interest expense                           (13,545)         (618)      (21,273)         (618)      (22,924)
  Miscellaneous income                           136             -           136           100         6,714
                                         ------------  ------------  ------------  ------------  ------------
    Total Other Income (Expense)             (13,393)      (36,030)     (796,965)      (30,356)   (1,042,980)
                                         ------------  ------------  ------------  ------------  ------------

INCOME TAXES                                       -             -             -             -             -

NET LOSS                                    (433,401)     (647,443)   (3,091,222)   (1,284,819)   (6,242,299)
                                         ------------  ------------  ------------  ------------  ------------

OTHER COMPREHENSIVE LOSS
  Change in market value of investments            -        21,750           413        27,436             -
                                         ------------  ------------  ------------  ------------  ------------

NET COMPREHENSIVE LOSS                   $  (433,401)  $  (625,693)  $(3,090,809)  $(1,257,383)  $ 6,242,299
                                         ============  ============  ============  ============  ============


BASIC AND DILUTED NET LOSS PER SHARE     $     (0.02)  $     (0.06)  $     (0.17)  $     (0.17)        (0.52)
                                         ============  ============  ============  ============  ============

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING               18,387,661    10,829,671    18,454,459     7,628,199    11,919,983
                                         ============  ============  ============  ============  ============
</TABLE>


                  See accompanying notes and accountant's review report.
                                        3
<PAGE>
<TABLE>
<CAPTION>
                                                     TREND MINING COMPANY
                                            (FORMERLY SILVER TREND MINING COMPANY)
                                                (AN EXPLORATION STAGE COMPANY)
                                          STATEMENT OF STOCKHOLDERS' EQUITY(DEFICIT)


                                                              Common  Stock
                                                           --------------------   Additional        Stock
                                                            Number                  Paid-in      Options and    Accumulated
                                                           of Shares   Amount       Capital        Warrents       Deficit
                                                           ---------  ---------  -------------  -------------  --------------
<S>                                                        <C>        <C>        <C>            <C>            <C>
Balance, October 1, 1996                                   1,754,242  $  17,542  $     663,218              -  $    (558,504)

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

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

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

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

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

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

Change in market value of investments                              -          -              -              -              -
                                                           ---------  ---------  -------------  -------------  --------------

Balance, September 30, 1998                                2,258,253     22,582        907,934          2,659       (806,281)

Common stock issuances as follows:
  - for cash at an average of $0.07 per share                555,000      5,550         35,450              -              -
  - for prepaid expenses at $0.33 per share                   50,000        500         16,000              -              -
  - for consulting services at an average of                       -
      $0.20 per share                                        839,122      8,391        158,761              -              -
  - for mineral property at $0.13 per share                  715,996      7,160         82,471              -              -
  - for officers' compensation at an average of                    -
      $0.24 per share                                        300,430      3,004         70,522              -              -
  - for debt,  investment and expenses at $0.30 per share      9,210         92          2,671              -              -
  - for directors' compensation at an average of                   -
      $0.25 per share                                         16,500        165          3,960              -              -
  - for rent at $0.25 per share                                1,000         10            240              -              -
  - for equipment at $0.30 per share                         600,000      6,000        174,000              -              -

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

Other comprehensive loss                                           -          -              -              -              -
                                                           ---------  ---------  -------------  -------------  --------------

Balance, September 30, 1999                                5,345,511  $  53,454  $   1,452,008          2,659  $  (1,523,040)
                                                           ---------  ---------  -------------  -------------  --------------


                                                               Other
                                                           Comprehensive
                                                              Income          Total
                                                           ------------  -------------
<S>                                                        <C>           <C>
Balance, October 1, 1996                                   $         -   $    122,256

Common stock issuances as follows:
  - for cash at $0.50 per share                                      -        100,000
  - for payment of liabilities and expenses at $0.50
      per share                                                      -         22,756

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

Balance, September 30, 1997                                          -        116,398

Issuance of common stock as follows:
  - for mineral property at $0.50 per share                          -         75,000
  - for lease termination at $0.50 per share                         -          6,000
  - for debt at $0.50 per share                                      -         40,000
  - for cash at $0.20 per share                                      -          1,500
  - for compensation at $0.50 per share                              -          4,500

Issuance of stock options for financing activities                   -          2,659

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

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

Balance, September 30, 1998                                    117,080        243,974

Common stock issuances as follows:
  - for cash at an average of $0.07 per share                        -         41,000
  - for prepaid expenses at $0.33 per share                          -         16,500
  - for consulting services at an average of
      $0.20 per share                                                -        167,152
  - for mineral property at $0.13 per share                          -         89,631
  - for officers' compensation at an average of
      $0.24 per share                                                -         73,526
  - for debt,  investment and expenses at $0.30 per share            -          2,763
  - for directors' compensation at an average of
      $0.25 per share                                                -          4,125
  - for rent at $0.25 per share                                      -            250
  - for equipment at $0.30 per share                                 -        180,000

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

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

Balance, September 30, 1999                                $    37,901   $     22,983
                                                           ------------  -------------
</TABLE>


                  See accompanying notes and accountant's review report.
                                        4
<PAGE>
<TABLE>
<CAPTION>
                                       (FORMERLY SILVER TREND MINING COMPANY)
                                           (AN EXPLORATION STAGE COMPANY)
                                     STATEMENT OF STOCKHOLDERS' EQUITY(DEFICIT)

                                                               Common Stock
                                                          -------------------------    Additional        Stock
                                                            Number                      Paid-in       Options  and
                                                           of Shares      Amount        Capital         Warrants
                                                          -----------  ------------  --------------  ---------------
<S>                                                       <C>          <C>           <C>             <C>
Balance, October 1, 1999                                   5,345,511   $     53,454  $    1,452,008  $        2,659

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
  - for officers' and directors' compensation
      at an average of $1.19 per share                        11,500            115          13,615               -
  - for services at an average of $0.47 per share            530,177          5,302         246,333               -
  - for mineral property at $0.89 per share                  100,000          1,000          88,000               -
  - for investments at $0.33 per share                       200,000          2,000          64,000               -
  - 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
  - for incentive fees at $0.33 per share                     65,285            653          20,891               -
  - for deferred mineral property acquisition
      costs at $0.13 per share                               129,938          1,299          14,943               -
  - for modification of stockholder agreement
      at $0.60 per share                                     200,000          2,000         118,000          30,000
  - for modification of stockholder agreement                      -              -               -          14,641
  - from exercise of options at $0.12 per share            9,962,762         99,628       1,103,016         (37,524)

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

Miscellaneous common stock adjustments                            (5)             -               -               -

Net loss for the year ended  September 30, 2000                    -              -               -               -

Other comprehensive income                                         -              -               -               -
                                                          -----------  ------------  --------------  ---------------

Balance, September 30, 2000                               18,232,776        182,327       3,292,635         132,182

Common stock and option issuances as follows:
  - for cash of $1.00 per share                              192,000          1,920         190,080               -
  - for cash and consulting services from
      options for $0.39 per share                             33,333            333          12,737          (3,070)
  - for services at $1.15 per share                           10,000            100          11,400               -
  - for officer and employee compensation at
      $1.13 per share                                          5,200             52           5,828               -
  - for payment of accrued officer's compensation
      at $1.35 per share                                      10,000            100          13,400               -
  - for consulting services at $0.99 per share                 5,461             55           5,347               -
  - for directors' compensation at $0.85 per share            75,000            750          63,000               -
  - for modification of contract at $0.78 per share            3,000             30           2,310               -
  - for interest payment on contract at $0.83 per share        5,000             50           4,100               -
  - for mineral property expenses at $0.85 per share           1,000             10             840               -

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

Warrants issued as follows:
  - warrants issued for consulting services                        -              -               -         170,521
  - warrants issued for loan agreements                            -              -               -          89,981
  - extension of exercise period on outstanding
      warrants                                                     -              -               -         608,058

Net loss for the nine month period ended June 30,
  2001 (unaudited)                                                 -              -               -               -

Other comprehensive loss                                           -              -               -               -
                                                          -----------  ------------  --------------  ---------------

Balance, June 30, 2001 (unaudited)                        18,572,770   $    185,727  $    3,601,677  $    1,342,672
                                                          ===========  ============  ==============  ===============


                                                                                 Other
                                                            Accumulated      Comprehensive
                                                              Deficit            Income            Total
                                                          ---------------  ------------------  ---------------
<S>                                                       <C>              <C>                 <C>
Balance, October 1, 1999                                  $   (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                                                  -                   -          158,580
  - for officers' and directors' compensation
      at an average of $1.19 per share                                 -                   -           13,730
  - for services at an average of $0.47 per share                      -                   -          251,635
  - for mineral property at $0.89 per share                            -                   -           89,000
  - for investments at $0.33 per share                                 -                   -           66,000
  - for cash at  per share
  - for cash, options and warrants                               100,000
  - for incentive fees at $0.33 per share                              -                   -           21,544
  - for deferred mineral property acquisition
      costs at $0.13 per share                                         -                   -           16,242
  - for modification of stockholder agreement
      at $0.60 per share                                               -                   -          150,000
  - for modification of stockholder agreement                          -                   -           14,641
  - from exercise of options at $0.12 per share                        -                   -        1,165,120

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

Miscellaneous common stock adjustments                                 -                   -                -

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

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

Balance, September 30, 2000                                   (3,709,581)               (413)        (111,850)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                                        -                   -          192,000
  - for cash and consulting services from
      options for $0.39 per share                                      -                   -           10,000
  - for services at $1.15 per share                                    -                   -           11,500
  - for officer and employee compensation at
      $1.13 per share                                                  -                   -            5,880
  - for payment of accrued officer's compensation
      at $1.35 per share                                               -                   -           13,500
  - for consulting services at $0.99 per share                         -                   -            5,402
  - for directors' compensation at $0.85 per share                     -                   -           63,750
  - for modification of contract at $0.78 per share                    -                   -            2,340
  - for interest payment on contract at $0.83 per share                -                   -            4,150
  - for mineral property expenses at $0.85 per share                   -                   -              850

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

Warrants issued as follows:
  - warrants issued for consulting services                            -                   -          170,521
  - warrants issued for loan agreements                                -                   -           89,981
  - extension of exercise period on outstanding
      warrants                                                         -                   -          608,058

Net loss for the nine month period ended June 30,
  2001 (unaudited)                                            (3,091,222)                  -       (3,091,222)

Other comprehensive loss                                               -                 413              413
                                                          ---------------  ------------------  ---------------

Balance, June 30, 2001 (unaudited)                        $   (6,800,803)  $               -   $   (1,670,727)
                                                          ===============  ==================  ===============
</TABLE>


                  See accompanying notes and accountant's review report.
                                        5
<PAGE>
<TABLE>
<CAPTION>
                                             (FORMERLY SILVER TREND MINING COMPANY)
                                                 (AN EXPLORATION STAGE COMPANY)
                                                    STATEMENTS OF CASH FLOWS
                                                                                                             Period from
                                                                                                           Ocotber 1, 1996
                                                                                                            (Inception of
                                                                              Nine Months Ended              Exploration
                                                                    -------------------------------------     Stage) to
                                                                         June 30,           June 30,           June 30,
                                                                           2001               2000               2001
                                                                        (Unaudited)        (Unaudited)        (Unaudited)
                                                                    ------------------  -----------------  --------------------
<S>                                                                 <C>                 <C>                <C>
Cash flows from operating activities:
  Net loss                                                          $      (3,091,222)  $     (1,284,819)  $        (6,242,299)
  Adjustments to reconcile net income (loss) to
    net cash used by operating activities:
      Depreciation                                                             13,461              3,980                24,572
      Loss (gain) on investment sales                                          78,033             (2,263)               81,880
      Loss on disposition and impairment of assets                                  -                  -               188,226
      Common stock issued for services
        and expenses                                                           19,788            178,735               504,002
      Common stock and options issued as compensation                         429,884            157,860               684,345
      Stock options and warrants  issued for financing activities             698,039             14,641               715,339
      Common stock and warrants  issued to acquired mineral
           property options                                                         -            127,742               344,873
      Warrants issued for consulting fees                                     170,521            170,521
      Common stock issued for incentive fees                                        -             21,544                21,544
  Changes in assets and liabilities:
    Accounts receivable                                                             -                  -                     -
    Related party receivable                                                        -             (3,056)                    -
    Inventory                                                                       -                  -                 3,805
    Prepaid expenses                                                            1,725              1,000                     -
    Accounts payable                                                          778,842             63,395             1,102,907
    Accrued expenses                                                           26,112             16,824                45,559
                                                                    ------------------  -----------------  --------------------
  Net cash used in operating activities                                      (874,817)          (704,417)           (2,354,726)
                                                                    ------------------  -----------------  --------------------

Cash flows from investing activities:
    Payment of deposit                                                              -             (1,000)               (1,000)
    Return of deposit                                                               -                  -                 1,000
    Proceeds from sale of equipment                                                 -                  -                33,926
    Proceeds from sale of mineral property                                          -                  -                20,000
    Purchase of furniture and equipment                                             -            (18,425)              (37,195)
    Proceeds from investments sold                                             41,420             18,923               112,707
                                                                    ------------------  -----------------  --------------------
  Net cash provided by investing activities                                    41,420               (502)              129,438
                                                                    ------------------  -----------------  --------------------

Cash flows from financing activities:
    Payments on notes payable and short term borrowings                        (2,130)            (1,769)               (4,842)
    Sale of warrants for common stock                                               -             10,000                10,000
    Proceeds from short-term borrowings                                       535,000            577,000
    Sale of common stock, subscriptions
      and exercise of options                                                 202,000            723,531             1,643,151
                                                                    ------------------  -----------------  --------------------
  Net cash provided by financing activities                                   734,870            731,762             2,225,309
                                                                    ------------------  -----------------  --------------------

NET INCREASE (DECREASE) IN CASH                                               (98,527)            26,843                    21

CASH, BEGINNING OF YEAR                                                       102,155              8,998                 3,607
                                                                    ------------------  -----------------  --------------------

CASH, END OF YEAR                                                   $           3,628   $         35,841   $             3,628
                                                                    ==================  =================  ====================

SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                                     $             559   $              -   $             2,210
  Taxes paid                                                        $               -   $              -   $                 -

NON-CASH FINANCING ACTIVITIES:
  Common stock and warrants issued to acquire
    mineral properties                                              $               -   $        127,742   $           344,873
  Common stock issued to acquire mineral property                   $               -   $              -   $            75,000
  Common stock issued for acquisition of
    mining equipment                                                $               -   $                  $           180,000
  Common stock issued for services and expenses                     $          19,788   $        178,735   $           501,662
  Common stock issued for investment                                $               -   $         66,000   $            67,000
  Common stock issued for debt                                      $               -   $              -   $            40,842
  Common stock issued to pay accrued fees                           $          11,800   $              -   $            11,800
  Deferred acquisition costs on mining property                     $               -   $              -   $            46,242
  Stock options  and warrants issued for financing activities       $         698,039   $         14,641   $           715,339
  Warrants issued for consulting fees                               $         170,521   $              -   $           170,521
  Common stock issued for incentive fees                            $               -   $         21,544   $            21,544
  Common stock and options issued as compensation                   $         429,884   $        157,860   $           684,345
  Purchase of equipment with financing agreement                    $               -   $         14,093   $            14,093
  Investments received for mineral property                         $               -   $              -   $             5,000
</TABLE>


                  See accompanying notes and accountant's review report.
                                        6
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  1  -  ORGANIZATION  AND  DESCRIPTION  OF  BUSINESS

Trend  Mining Company (formerly Silver Trend Mining Company) ("the Company") was
originally  incorporated  on  September  7,  1968 under the laws of the State of
Montana  for  the  purpose  of  acquiring,  exploring  and  developing  mining
properties.  From 1984 to late 1996, the Company was dormant.  In November 1998,
the  Company changed its focus to exploration for platinum and palladium related
metals.  In February 1999, the Company changed its name from Silver Trend Mining
Company  to Trend Mining Company to better reflect the Company's change of focus
to  platinum  group  metals.  The Company conducts operations primarily from its
offices  in Coeur d'Alene, Idaho.  The Company has elected a September 30 fiscal
year-end.

In  March  28,  2001, the Company reincorporated in Delaware.  Under its amended
certificate  of incorporation, Trend has 100,000,000 shares of authorized common
stock  with  a par value of $0.01 per share, and 20,000,000 shares of authorized
preferred  stock  with  a  par value of $0.01, with rights and preferences to be
determined by the Company's Board of Directors.  One share of Series A preferred
stock  has been created and issued to Thomas S. Kaplan and requires the holder's
approval  for  all  stock  and  equity  issuances  (See  Note  4).

The Company is actively seeking additional capital, and management believes that
additional  stock  can  be  sold  to  enable the Company to continue to fund its
property acquisition and platinum group metals exploration activities.  However,
management  is  unable  to  provide  assurances  that  it  will be successful in
obtaining  sufficient  sources  of  capital.


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.

Accounting  Method
------------------
The  Company's  financial  statements  are  prepared using the accrual method of
accounting.

Basic  and  Diluted  Loss  per  Share
-------------------------------------
Basic  and  diluted  loss  per share is computed by dividing the net loss by the
weighted  average  number  of shares outstanding during the year or period.  The
weighted  average  number of shares is calculated by taking the number of shares
outstanding and weighting them by the length of time that they were outstanding.

Outstanding  options  and  warrants  as  of  June 30, 2001 and 2000 representing
10,239,261  shares  and 13,101,094 shares, respectively, have been excluded from
the  calculation  of  diluted  loss  per  share  as  they would be antidilutive.


                                        7
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Cash  and  Cash  Equivalents
----------------------------
For  purposes  of  the  Statement  of  Cash  Flows,  the  Company  considers all
short-term  debt securities purchased with a maturity of three months or less to
be  cash  equivalents.

Compensated  Absences
---------------------
The  Company's  employees  are  entitled  to  paid  vacation, paid sick days and
personal  days  off depending on job classification, length of service and other
factors.  The  Company  estimates  that  the  amount  of compensation for future
absences  is  minimal  and immaterial for the period ended June 30, 2001 and the
year  ended  September 30, 2000 and, accordingly, no liability has been recorded
in  the  financial statements.  The Company's policy is to recognize the cost of
compensated  absences  when  compensation  is  actually  paid  to  employees.

Comprehensive  Income  (Loss)
-----------------------------
The  Company reports comprehensive income (loss) in accordance with Statement of
Financial  Accounting  Standards  ("SFAS")  No.  130,  "Reporting  Comprehensive
Income."  Accordingly,  accumulated  other  comprehensive  income  or  loss  is
included in the stockholders' equity section of the balance sheets.  Amounts are
reported net of tax and include unrealized gains or losses on available for sale
securities.

Derivative  Instruments
-----------------------
The  Financial  Accounting  Standards Board issued SFAS No. 133, "Accounting for
Derivative  Instruments  and  Hedging  Activities" in June 1998 and SFAS No. 138
"Accounting  for  Derivative Instruments and Certain Hedging Activities" in June
2000.  This  standard  establishes  accounting  and  reporting  standards  for
derivative  instruments,  including  certain  derivative instruments embedded in
other  contracts,  and  for  hedging  activities.  It  requires  that  an entity
recognize  all  derivatives as either assets or liabilities on the balance sheet
and  measure  those  instruments  at  fair  value,  at  the  appropriate  date.

At  June 30, 2001, the Company had not engaged in any transactions that would be
considered  derivative  instruments  or  hedging  activities.

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.

Employee  and  Non-Employee  Stock  Compensation
------------------------------------------------
The Company values common stock issued to employees and other than employees for
services, property and investments at the fair market value of the common stock,
which  is  the  closing  price  of  Company stock on the day of issuance.  If no
trading  occurred  on  that  day, then the fair market value is the lower of the
closing  prices  on  the first previous day and the first following day on which
the  Company's  stock  was  traded.


                                        8
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Exploration  Costs
------------------
In accordance with accounting principles generally accepted in the United States
of  America,  the  Company  expenses exploration costs as incurred.  Exploration
costs  expensed  during the period ended June 30, 2001 and 2000 were $25,838 and
$409,238,  respectively.  In  the  nine  month  periods ending June 30, 2001 and
2000,  exploration expenses amounted to $247,988 and $584,232, respectively.  As
of  June  30,  2001,  the  exploration  costs  expensed  during  the  Company's
exploration  stage  were  $1,727,802.

Exploration  Stage  Activities
------------------------------
The  Company  has  been in the exploration stage since October 1, 1996, when the
Company  emerged from a period of dormancy, and has no revenues from operations.
The  Company  is primarily engaged in the acquisition and exploration of mineral
properties.  Should  the  Company  locate  a  commercially  viable  reserve, the
Company would expect to actively prepare the site for extraction.  The Company's
accumulated  deficit  prior  to  the  exploration  stage  was  $558,504.

Fair  Value  of  Financial  Instruments
---------------------------------------
The  carrying  amounts  for  cash,  accounts  payable, notes payable and accrued
liabilities  approximate  their  fair  value.

Going  Concern
--------------
As  shown in the accompanying financial statements, the Company has no revenues,
has  incurred  a net loss of $3,091,222 for the nine month period ended June 30,
2001  and has an accumulated deficit during the exploration stage of $6,242,299.
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's  management  believes that it will be able to generate sufficient
cash from public or private debt or equity financing for the Company to continue
to  operate  based  on  current  expense  projections.

Impaired  Asset  Policy
-----------------------
In  March 1995, the Financial Accounting Standards Board issued a statement SFAS
No.  121  titled "Accounting for Impairment of Long-lived Assets."  In complying
with  this  standard,  the  Company  reviews  its long-lived assets quarterly to
determine  if  any  events  or  changes  in  circumstances have transpired which
indicate  that  the  carrying  value  of its assets may not be recoverable.  The
Company  determines  impairment  by comparing the undiscounted future cash flows
estimated  to  be  generated  by its assets to their respective carrying amounts
whenever  events  or  changes in circumstances indicate that an asset may not be
recoverable.  Properties  are acquired and recorded at fair values negotiated in
arm's  length  transactions.  Although  the  Company  expenses  as  costs  the
exploration  and  maintenance  of  its  properties  and  claims,  if  results of
exploration  warrant an assessment of the carrying value of a mineral property's
acquisition  cost,  or  if  the Company has an indication that the recorded fair
value  has  declined,  such  costs  will  be reviewed and any impairment will be
recognized  at  that  time.


                                        9
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Interim  Financial  Statements
------------------------------
The  interim  financial  statements for the period ended June 30, 2001, included
herein  have not been audited.  The financial statements reflect all adjustments
which are, in the opinion of management, necessary to present fairly the results
of  operations  for  the  period.  All  such  adjustments  are  normal recurring
adjustments.  The  results  of  operations  for  the  period  presented  are not
necessarily  indicative  of  the  results  expected  for  the  full fiscal year.

Investment  Policies
--------------------
The  Company  uses  the  average  cost  method  to determine the gain or loss on
investment securities held as available-for-sale based upon the accumulated cost
bases  of  specific  investment  accounts.

Mineral  Properties
-------------------
The  Company capitalizes only amounts paid in cash or stock as consideration for
the  acquisition  of  real  property  (see Note 3).  Properties are acquired and
recorded at fair values negotiated in arm's length transactions.  Costs and fees
paid to locate and maintain mining claims, to acquire options to purchase claims
or  properties,  and  to maintain the mineral rights and leases, are expensed as
incurred.  When a property reaches the production stage, the related capitalized
costs  will  be  amortized, using the units of production method on the basis of
periodic  estimates  of  ore  reserves.

Mineral  properties  are  periodically  assessed for impairment of value and any
diminution  in value is charged to operations at the time of impairment.  Should
a  property  be  abandoned,  its  unamortized  capitalized  costs are charged to
operations.  The  Company  charges  to  operations  the  allocable  portion  of
capitalized  costs  attributable  to  properties  sold.  Capitalized  costs  are
allocated  to  properties  abandoned  or  sold based on the proportion of claims
abandoned  or  sold  to  the  claims  remaining  within  the  project  area.

Option  and  Warrant  Fair  Value  Calculations
-----------------------------------------------
The  Company  utilizes  the  Black-Scholes valuation model to calculate the fair
value  of  options  and warrants issued for financing, acquisition, compensation
and  payment  for  services  purposes.  The  parameters  used in such valuations
include  a  risk  free  rate of 5.5%, the assumption that no dividends are paid,
exercise  periods  ranging from 1 week to 5.5 years, depending upon the terms of
the  instrument  issued,  and  a  volatility factor calculated annually based on
estimates  of  expected  volatility,  as  per  SFAS  123.  The  Company used its
historic  volatility  data  to develop the 1998 estimate of 30%, consistent with
its limited public trading in 1998.  The volatility estimates for 1999, 2000 and
2001  reflect  an average of Company data and volatility factors reported by two
other  mining  companies at comparable stages in their respective public trading
histories,  resulting in expected volatilities of 55.12% in 1999, 48.05% in 2000
and  46.4%  in  2001.

Reclassifications
-----------------
Certain  amounts  from  prior  periods  have been reclassified to conform to the
current  period  presentation.  This reclassification has resulted in no changes
to  the  Company's  total  accumulated  deficit  or  net  losses  presented.


                                       10
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Reverse  Stock  Split
---------------------
The  Company's  board  of directors authorized a 1 for 10 reverse stock split of
its  no  par  value  common  stock.  (See  Note  4.)  All  references  in  the
accompanying financial statements to the number of common shares outstanding and
per  share  amounts  have  been  restated  to  reflect  the reverse stock split.

Segment  Reporting
------------------
The  Company  adopted SFAS No. 131, "Disclosures about Segments of an Enterprise
and Related Information," in the fiscal year ended September 30, 1999.  SFAS No.
131 requires disclosures about products and services, geographic areas and major
customers.  The adoption of SFAS No. 131 did not affect the Company's results of
operations  or  financial  position.  The  Company's  mining properties were not
engaged  in  any  business  activity.  The  Company  had  no segments engaged in
business  activities  at  June  30, 2001 and, therefore, no segment reporting is
required.


NOTE  3  -  MINERAL  PROPERTIES

The  following  describes  the  Company's  significant  mineral  properties:

Wyoming  Properties
-------------------
During  the  year  ended  September 30, 1999, the Company entered into an option
agreement  with  General  Minerals  Corporation  (GMC)  to acquire the Lake Owen
Project  located in Albany County, Wyoming.  The agreement with GMC entitled the
Company  to  receive 104 unpatented mining claims in exchange for 715,996 shares
of  common  stock,  $40,000  in  cash  to  be paid in four quarterly payments of
$10,000  and $750,000 in exploration expenditure commitments to be incurred over
a  three-year  option  period.  In  May  2000,  the Company issued an additional
129,938  shares  of common stock under this agreement for the acquisition of the
Lake  Owen  Project.

The  Company  and  GMC  subsequently  entered into an amendment to the agreement
under  which  (i)  the Company issued 416,961 shares of common stock to GMC upon
GMC's  exercise  of  preemptive  rights,  (ii)  the Company agreed to perform an
additional  $15,000  of  geophysical  work  on  the  Lake  Owen Project prior to
December  31,  2000,  (iii)  the  Company  issued  200,000 additional shares and
warrants  exercisable  until  June  2002 to purchase 200,000 shares at $0.70 per
share,  and  (iv) GMC agreed to terminate its antidilution and preemptive rights
as  provided  in  the original agreement.  The Company has expensed $295,873 for
cash  paid  and  common  stock  issued  to  acquire  this  Project.

The  Company has located an additional 509 unpatented mining claims in an agreed
area  of  interest  near  the  Lake  Owen  Project.

The  Company  also  staked  and  claimed  six claims known as the Albany Project
during  the  year  ended September 30, 1999.  These claims are located in Albany
County,  Wyoming.

The  Company  also  staked  and claimed 42 unpatented mining claims known as the
Spruce  Mountain claims and 179 unpatented mining claims known as the Centennial
West  claims.  These  claims  are  also  located  in  Albany  County,  Wyoming.


                                       11
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

In the fiscal year to date, the Company located and staked 155 unpatented mining
claims in Albany County, Wyoming, including 34 and 121 claims, which were staked
at  the  Douglas  Creek  and  Keystone  properties,  respectively.

Montana  Properties
-------------------
In  March 2000, the Company entered into a three year lease and option agreement
under  which it has the right to acquire a 100% interest in the Intrepid claims.
Upon  entering  into  the agreement, the Company paid the claim owners $5,800 in
cash  and  100,000 shares of common stock.  In the Company's acquisition of this
option,  it  has  expensed  $97,140  for  cash  paid  and  common  stock issued.

Under  the agreement, the Company is obligated to incur exploration expenditures
of  not  less  than  $10,000 by September 30, 2001, $15,000 by March 4, 2002 and
$15,000  by  March  4, 2003.  In addition, the Company must make advance royalty
payments  of $10,000 by March 4, 2001, $25,000 by March 4, 2002 and $35,000 each
year  thereafter.  In  March  2001,  the Company and the claim holders agreed to
replace  the March $10,000 advance royalty payment with a $9,000 payment due May
11,  2001.  In connection with this agreement, the Company issued to the holders
3,000  shares  of  common  stock  on  March  11, 2001 with an aggregate value of
$2,340.

Following this agreement the Company was unable to make the May 11th payment. On
May  24,  the  claim holders agreed to a modification to continue to extend this
payment  initially to June 5th, but this payment was also not made as scheduled.
The Company also issued an additional 1,000 shares of common stock with value of
$850  and  paid  $1,000 in cash per the terms of the modification, which reduced
the  outstanding  $9000  payment  to  $8000.

During  the  option  period,  the  Intrepid  claims are subject to a net smelter
royalty  of  3%  of  all  ores  produced and sold from the Intrepid claims.  The
Company  has  the  right to exercise the purchase option at any time for a total
purchase  price  of $320,000, with any advance royalty payments credited against
the  purchase price, and the claim holders retaining a 0.5% net smelter royalty.
The  Company  has  agreed  to  issue  an  additional 100,000 shares to the claim
holders  if  the  Company  has  not  terminated  the agreement by November 2001.

Also  in  Montana  during  2000,  the Company staked 121 claims for the Vanguard
Project.  The Company explored and staked 36 claims known as the McCormick Creek
Project  in  Missoula  County.

During  the  year  ended  September 30, 2000, the Company located and staked 211
claims  in Stillwater County Montana.  In the fiscal year to date, an additional
222  claims  were staked and added, and 38 claims were abandoned, resulting in a
net  total  of  395  claims.

Oregon  Property
----------------
During  the year ended September 30, 1999, the Company entered into an agreement
in  which  it  would  explore  and  stake five claims located in Jackson County,
Oregon known as the Shamrock property.  All transactions have been completed and
the  Company  has  acquired  title  to  these  claims.


                                       12
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Nevada  Properties
------------------
During  the year ended September 30, 1999, the Company entered into an agreement
whereby  Mountain  Gold Exploration would explore and stake claims, transferring
title  to  the Company upon completion thereof.  Transactions were finalized for
13  claims  known  as  the  Hardrock  Johnson  Property located in Clark County,
Nevada.  During  the  fiscal  year  to  date,  the Company located and staked 31
unpatented  claims known as the Willow Springs Claims.  These claims are located
in  Nye  County,  Nevada.

California  Properties
----------------------
In  mid-2000, the Company located 79 unpatented mining claims, known as the Pole
Corral  property,  in Tehema County, California.  In September 2000, the Company
located  33 unpatented mining claims known as the Cisco Butte property in Placer
County,  California.

Canadian  Property
------------------
In August 2000, the Company entered into an agreement whereby Spectra Management
Corporation  would explore and stake five claims representing about 67,000 acres
for  the  Company  in  northern Saskatchewan.  This property is now known as the
Peter  Lake  Claims.  The  Company is obligated to complete work requirements of
$212,000  U.S.  by  June  1,  2002.

Nevada  Property
----------------
In  1979,  the  Company  acquired  the  Pyramid  Mine,  which  consists  of five
unpatented  lode  mining claims near Fallon, Nevada.  This property is scheduled
for  disposal  pursuant  to  the  Company's  new focus on platinum and palladium
related  metals exploration. The claims are within the Walker Indian Reservation
and  located  on  the site of a U.S. Department of Defense bombing range.  As of
the  date  of  these  financial  statements,  no clean up has commenced on these
claims.  The  Company  is  not aware of any pending requirements for clean up of
hazardous  materials.  Pursuant  to  an  impairment  analysis  performed  by the
Company,  the  Company  wrote off the $70,333 book value of cash paid and common
stock  issued  to  acquire the Pyramid Mine, effective prior to the inception of
the  Exploration  Stage.  This write-off resulted in a corresponding increase in
accumulated  deficit  prior  to  the  Exploration  Stage.

Idaho  Property
---------------
The  Company  owned  the Silver Strand Mine in Idaho until it was disposed of in
July  2001.  The  Company  initially  entered  into an agreement with New Jersey
Mining  Company  (New  Jersey) whereby the Company received 50,000 shares of New
Jersey's  restricted  common  stock  in exchange for New Jersey's opportunity to
earn  a  100%  interest  less  a net smelter royalty in the Company's unpatented
claims in Kootenai County, Idaho. Subsequent to the end of the reporting period,
in  July,  2001  the  Company  quitclaimed  any remaining interest in the Silver
Strand  property  to  Mine  Systems Design, Inc. in exchange for cancellation of
$22,539  of  outstanding invoices due Mine Systems. The Company also transferred
50,000  shares  of  New  Jersey  stock  to  Mine  Systems Design as part of this
settlement.

The  Company  wrote off the $104,753 book value of the property, effective prior
to  the  inception  of  the  Exploration  Stage.  This  write-off  resulted in a
corresponding  increase  in  accumulated deficit prior to the Exploration Stage.
The  Company  also  expensed  $19,000 in previously capitalized costs as mineral
property  expenses  in  1997.  The  value  of  the  securities  received  upon
disposition  of  the property was $5,000, which the Company recognized as a gain
on  disposition  in  the  year  ended  September  30,  2000.


                                       13
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  4  -  CAPITAL  STOCK

Common  Stock
-------------
On March 28, 2001, the Company completed its reincorporation in Delaware.  Under
its  amended  certificate  of  incorporation,  Trend  has  100,000,000 shares of
authorized  common  stock  with  a  par  value  of  $0.01  per  share.

On  February  16,  1999,  the Company's board of directors authorized a 1 for 10
reverse  stock split of the Company's no par value common stock.  As a result of
the  split,  26,356,430 shares were retired.  All references in the accompanying
financial  statements  to  the number of common shares and per-share amounts for
the  period  ended June 30, 2001 and the year ended September 30, 2000 have been
restated  to  reflect  the  reverse  stock  split.

The  Company  from time to time issues common stock in exchange for services, as
compensation  or  for  the acquisition of assets.  Such stock is recorded at the
fair  market  value  on, or as near as possible to, the date of the transaction.

During  the  year ended September 30, 2000, the Company issued 226,194 shares of
common  stock,  valued  at  $145,490 to officers and directors, as compensation;
530,177  shares  of common stock valued at $251,635 for services provided to the
Company;  100,000  shares  of common stock valued at $89,000 in exchange for the
option  to  acquire a mineral property; 200,000 shares of common stock valued at
$66,000  for  New  Jersey  Mining  Company common stock; 65,285 shares of common
stock valued at $21,544 as incentive fees and 11,419,009 shares of common stock,
options  and  warrants for cash of $1,298,651.  The Company issued 16,667 shares
of  common  stock  valued  at  $11,000  to an employee as part of his employment
agreement.  The  Company  also  issued  to General Minerals Corporation (GMC) an
additional  129,938  shares  valued  at  $16,242 as part of the deferred cost of
acquiring  the Lake Owen option.  In addition, the Company issued 200,000 shares
of  common stock valued at $120,000 as partial consideration for the termination
of  certain  preemptive  rights  held  by  GMC.

During  the  nine-month  period  ended  June 30, 2001, the Company issued 25,461
shares  of  common  stock valued at $30,502 for services, 5,200 shares of common
stock  valued  at  $5,880  as  compensation,  33,333 shares of common stock from
options  exercised  by  an employee for cash of $10,000, 75,000 shares valued at
$63,750 to directors as compensation, 3,000 shares valued at $2,340 to modify an
agreement,  5000  shares  valued  at  $4,150  in  lieu  of interest on an unpaid
invoice,  1,000  shares valued at $850 for mineral property expenses, and 92,000
shares  of  common  stock  sold  for  $192,000  cash  as  a  private  placement

See  Note  6  regarding  future  loan  repayments  in units of Trend securities.


                                       14
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

Preferred  Stock
----------------
Under  its  amended  Delaware  certificate  of  incorporation,  Trend  also  has
20,000,000  shares  of  authorized preferred stock with a par value of $0.01 per
share,  with  rights  and preferences to be determined by the Company's Board of
Directors.

One  share  of Series A preferred stock has been created and issued to Thomas S.
Kaplan  and  requires  the  holder's  approval of all stock and equity issuances
until  such  time  as  none  of  Mr.  Kaplan,  Electrum  LLC or Asher B. Edelman
beneficially  owns  more than twenty percent of the Company's outstanding stock.
Holders  of  the  Company's common stock will vote on the continued existence of
the Series A preferred stock at each subsequent annual meeting.  If the Series A
preferred  stock  is  not continued, the outstanding share of Series A preferred
stock  will  convert  to  one  share  of  common  stock.

The following table discloses the Company's stock and equity transactions during
the  Exploration  Stage.  This  information meets the disclosure requirements of
SFAS  No.  7  for  development and exploration stage disclosures.  The following
abbreviations  are used in the table:  CS for Common Stock; OPT for Options; and
WAR  for  Warrants.

<TABLE>
<CAPTION>
                                                            TREND MINING COMPANY
                                                   (FORMERLY SILVER TREND MINING COMPANY)
                                                       (AN EXPLORATION STAGE COMPANY)
                                                        NOTES TO FINANCIAL STATEMENTS
                                                                JUNE 30, 2001

                                                                  COMMON    ADDITIONAL                                   VALUE OF
                                           NUMBER OF  PRICE PER    STOCK     PAID-IN     TOTAL     NUMBER OF  NUMBER OF  OPTIONS/
                               ISSUE DATE   SHARES      SHARE     AMOUNT     CAPITAL     AMOUNT     OPTIONS   WARRANTS   WARRANTS
-----------------------------  ----------  ---------  ----------  -------  -----------  ---------  ---------  ---------  --------
<S>                            <C>         <C>        <C>         <C>      <C>          <C>        <C>        <C>        <C>
BALANCE, OCTOBER 1, 1996                   1,754,242              $17,542  $   663,218  $ 680,760

Common stock, options
---------------------
and warrants activity as
------------------------
follows:
-------
CS for Cash                    03/25/1997    200,000  $     0.50    2,000       98,000    100,000
CS for Payment of liabilities
and expenses                   09/30/1997     45,511        0.50      455       22,301     22,756

BALANCE SEPTEMBER 30,
1997                                       1,999,753              $19,998  $   783,518  $ 803,516                                -

Common stock, options
---------------------
and warrants activity as
------------------------
follows:
-------
CS for Mineral property        07/23/1998    150,000  $     0.50    1,500       73,500     75,000
CS for Cash                    07/23/1998      7,500        0.20       75        1,425      1,500
CS for Lease termination       07/23/1998     12,000        0.50      120        5,880      6,000
CS for Debt                    07/23/1998     80,000        0.50      800       39,200     40,000
OPT for Financing              09/24/1998                                                            180,000                 2,659
CS for Compensation            09/30/1998      9,000        0.50       90        4,410  $4,500.00

BALANCE SEPTEMBER 30,
1998                                       2,258,253              $22,583  $   907,933  $ 930,516    180,000          -  $   2,659
</TABLE>


                                       15
<PAGE>
<TABLE>
<CAPTION>
                                                            TREND MINING COMPANY
                                                   (FORMERLY SILVER TREND MINING COMPANY)
                                                       (AN EXPLORATION STAGE COMPANY)
                                                        NOTES TO FINANCIAL STATEMENTS
                                                                JUNE 30, 2001

NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

                                                                 COMMON   ADDITIONAL                                     VALUE OF
                                          NUMBER OF  PRICE PER    STOCK     PAID-IN      TOTAL     NUMBER OF  NUMBER OF  OPTIONS/
                              ISSUE DATE   SHARES      SHARE     AMOUNT     CAPITAL      AMOUNT     OPTIONS   WARRANTS   WARRANTS
----------------------------  ----------  ---------  ----------  -------  -----------  ----------  ---------  ---------  --------
<S>                           <C>         <C>        <C>         <C>      <C>          <C>         <C>        <C>        <C>
BALANCE SEPTEMBER 30,
1998                                      2,258,253              $22,583  $   907,933  $  930,516    180,000          -  $  2,659

Common stock, options
---------------------
and warrants activity as
------------------------
follows:
-------
CS for Debt, investment
and expenses                  10/12/1998      9,210  $     0.30       92        2,671       2,763
CS for Equipment              10/30/1998    600,000        0.30    6,000      174,000     180,000
CS for Cash                   11/28/1998      5,000        0.20       50          950       1,000
CS for Officers'
compensation                  12/31/1998     30,858        0.44      309       13,191      13,500
CS for Directors'
compensation                  01/25/1999     16,500        0.25      165        3,960       4,125
CS for Officers'
compensation                  01/31/1999      8,572        0.35       86        2,914       3,000
CS for Officers'
compensation                  03/31/1999     24,000        0.25      240        5,760       6,000
CS for Consulting services    03/31/1999      6,000        0.25       60        1,440       1,500
CS for Consulting services    04/30/1999     32,000        0.28      320        8,640       8,960
CS for Officers'
compensation                  04/30/1999     12,000        0.28      120        3,240       3,360
CS for Consulting services    05/31/1999     73,333        0.25      733       17,600      18,333
CS for Consulting services    06/30/1999     34,353        0.25      344        8,244       8,588
CS for Officers'
compensation                  06/30/1999     50,000        0.16      500        7,500       8,000
CS for Consulting services    06/30/1999     95,833        0.16      958       14,375      15,333
CS for Consulting services    07/06/1999      5,000        0.25       50        1,200       1,250
OPT for Financing activities  07/22/1999                                                              50,000                    -
CS for Mineral property
option                        07/27/1999    715,996        0.13    7,160       82,471      89,631
CS for Cash                   07/29/1999     33,333        0.15      333        4,667       5,000
CS for Consulting services    07/30/1999    146,603        0.12    1,466       16,126      17,592
CS for Consulting services    07/31/1999    133,697        0.12    1,337       14,707      16,044
CS for Officers'
compensation                  07/31/1999     41,667        0.12      417        4,583       5,000
CS for Cash                   08/04/1999     16,667        0.15      167        2,333       2,500
CS for Rent                   08/09/1999      1,000        0.25       10          240         250
OPT for Financing activities  08/13/1999                                                             100,000                    -
CS for Cash                   08/15/1999     50,000        0.05      500        2,000       2,500
CS for Consulting services    08/17/1999      5,000        0.25       50        1,200       1,250
CS for Cash                   08/17/1999    100,000        0.05    1,000        4,000       5,000
CS for Cash                   08/26/1999    100,000        0.10    1,000        9,000      10,000
CS for Consulting services    08/31/1999    159,750        0.25    1,598       38,341      39,938
CS for Prepaid expenses       09/10/1999     50,000        0.33      500       16,000      16,500
CS for Cash                   09/10/1999     50,000        0.10      500        4,500       5,000
CS for Cash                   09/13/1999    200,000        0.05    2,000        8,000      10,000
CS for Consulting services    09/30/1999     80,053        0.26      801       20,013      20,814
CS for Officers'
compensation                  09/30/1999    133,333        0.26    1,333       33,334      34,667
CS for Consulting services    09/30/1999     67,500        0.26      675       16,875      17,550

BALANCE SEPTEMBER 30,
1999                                      5,345,511              $53,455  $ 1,452,009  $1,505,464    300,000          -  $  2,659
</TABLE>


                                       16
<PAGE>
<TABLE>
<CAPTION>
                                                            TREND MINING COMPANY
                                                   (FORMERLY SILVER TREND MINING COMPANY)
                                                       (AN EXPLORATION STAGE COMPANY)
                                                        NOTES TO FINANCIAL STATEMENTS
                                                                JUNE 30, 2001

NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

                                                                COMMON   ADDITIONAL                                       VALUE OF
                                         NUMBER OF  PRICE PER    STOCK     PAID-IN      TOTAL      NUMBER OF   NUMBER OF  OPTIONS/
                             ISSUE DATE   SHARES      SHARE     AMOUNT     CAPITAL      AMOUNT      OPTIONS    WARRANTS   WARRANTS
---------------------------  ----------  ---------  ----------  -------  -----------  ----------  -----------  ---------  --------
<S>                          <C>         <C>        <C>         <C>      <C>          <C>         <C>          <C>        <C>
BALANCE SEPTEMBER 30,
1999                                     5,345,511              $53,455  $ 1,452,009  $1,505,464     330,000           -  $ 2,659

Common stock, options
and warrants activity as
follows:
CS for Consulting services   10/04/1999     50,000  $     0.26      500       12,500      13,000
CS for Cash                  10/22/1999     25,000        0.20      250        4,750       5,000
CS for Consulting services   10/31/1999    273,675        0.31    2,737       82,103      84,840
CS for Officers'
compensation                 11/30/1999     52,694        0.31      527       15,807      16,334
CS for Consulting services   11/30/1999      4,327        0.31       43        1,298       1,341
CS, OPT & WAR for Cash       12/31/1999  1,000,000       0.012   10,000        2,414      12,414   8,108,000   6,250,000   87,586
CS for Consulting services   12/31/1999      1,200        0.35       12          408         420
CS for Consulting services   01/04/2000     15,000        0.28      150        4,050       4,200
CS for Investments           01/15/2000    200,000        0.33    2,000       64,000      66,000
CS for Incentive fees        01/17/2000     65,285        0.33      653       20,891      21,544
OPT Expiration               01/22/2000                                                              (50,000)                   -
CS for Cash                  01/25/2000     14,286        0.35      143        4,857       5,000
CS for Cash from options     02/22/2000  1,000,000       0.142   10,000      131,900     141,900  (1,000,000)              (1,900)
CS & OPT for Employees'
compensation                 02/25/2000     16,667        0.66      167       10,833      11,000      33,333                3,070
CS for Consulting services   02/29/2000     10,000        0.72      100        7,100       7,200
CS for Mineral property      03/24/2000     50,000        1.03      500       51,000      51,500
CS for Cash from options     03/27/2000  2,500,000       0.142   25,000      329,750     354,750  (2,500,000)              (4,750)
CS for Consulting services   03/31/2000     75,000        0.81      750       60,000      60,750
CS for Officers'
compensation                 03/31/2000      3,000        0.81       30        2,400       2,430
CS for Mineral property      04/04/2000     50,000        0.75      500       37,000      37,500
CS & OPT for Directors'
compensation                 04/11/2000    150,000        0.70    1,500      103,500     105,000      67,000               12,750
CS for Deferred mineral
property acquisition costs   05/08/2000    129,938       0.125    1,299       14,943      16,242
CS for Consulting services   05/15/2000      9,975        0.63      100        6,184       6,284
CS for Cash                  06/26/2000    416,961       0.056    4,170       19,361      23,531
CS & WAR for Modification
of stockholder agreement     06/26/2000    200,000        0.60    2,000      118,000     120,000                 200,000   30,000
OPT & WAR for
Modification of stockholder
agreement                    06/27/2000                                                            1,729,762   1,729,761   14,641
CS for Cash from options     06/29/2000  1,597,588       0.064   15,976       86,740     102,716  (1,597,588)              (2,716)
CS for Officers'
compensation                 06/30/2000      9,000        0.81       90        7,185       7,275
CS for Consulting services   06/30/2000      1,000        0.70       10          690         700
OPT Agreement
Modification                 07/07/2000                                                             (127,500)                   -
CS for Cash from options     07/14/2000     10,000        0.30      100        2,900       3,000     (10,000)
CS for Cash from options     07/21/2000  1,800,000       0.122   18,000      201,060     219,060  (1,800,000)             (12,060)
CS for Cash from options     07/26/2000    650,000       0.122    6,500       72,605      79,105    (650,000)              (4,355)
CS for Officers'
compensation                 07/31/2000      3,000        1.24       30        3,690       3,720
CS for Cash from options     08/01/2000     50,000        0.15      500        7,000       7,500     (50,000)
CS for Cash from options     08/01/2000     50,000        0.30      500       14,500      15,000     (50,000)
CS for Cash from options     08/14/2000     90,000       0.122      900       10,053      10,953     (90,000)                (633)
CS for Cash from options     08/24/2000  1,000,000       0.122   10,000      111,700     121,700  (1,000,000)              (6,700)
CS for Directors'
compensation                 08/25/2000      1,500        1.00       15        1,485       1,500
CS for Cash from options     08/31/2000     15,000        0.30      150        4,350       4,500     (15,000)
CS for Officers'
compensation                 08/31/2000      1,000        1.13       10        1,120       1,130
</TABLE>


                                       17
<PAGE>
<TABLE>
<CAPTION>
                                                            TREND MINING COMPANY
                                                   (FORMERLY SILVER TREND MINING COMPANY)
                                                       (AN EXPLORATION STAGE COMPANY)
                                                        NOTES TO FINANCIAL STATEMENTS
                                                                JUNE 30, 2001

NOTE  4  -  CAPITAL  STOCK  (CONTINUED)

                                                                  COMMON   ADDITIONAL
                                         NUMBER OF   PRICE PER    STOCK      PAID-IN      TOTAL      NUMBER OF   NUMBER OF
                            ISSUE DATE    SHARES       SHARE      AMOUNT     CAPITAL      AMOUNT      OPTIONS    WARRANTS
<S>                         <C>         <C>          <C>         <C>       <C>          <C>         <C>          <C>
CS for Cash from options    09/22/2000   1,200,174        0.122    12,002      134,720     146,722  (1,200,174)
CS for Consulting services  09/22/2000      90,000         1.45       900       72,000      72,900
CS for Officers'
compensation                09/30/2000       6,000         1.35        60        8,040       8,100
Cash for Warrants           09/30/2000
CS Adjustment               09/30/2000          (5)

BALANCE SEPTEMBER 30,
2000                                    18,232,776               $182,328  $ 3,296,897  $3,479,225     127,833   8,179,761

Common stock, options
and warrants activity as
follows:
CS for Cash from options    10/10/2000      33,333   $     0.39       333       12,737      13,070     (33,333)
CS for Consulting services  10/15/2000      10,000         1.15       100       11,400      11,500
CS for Officers'
compensation                10/31/2000       3,000         1.30        30        3,870       3,900
WAR for Consulting
services                    11/01/2000                                                                             250,000
CS for Employees'
compensation                12/06/2000       2,200         0.90        22        1,958       1,980
CS for Cash                 12/20/2000     100,000         1.00     1,000       99,000     100,000
WAR for Consulting
services                    12/31/2000                                                                             180,000
CS for Consulting services  01/02/2001      10,000   $     1.35       100       13,400      13,500
CS for Cash                 01/11/2001      47,000         1.00       470       46,530      47,000
CS for Consulting services  01/11/2001       3,407         1.00        34        3,373       3,407
CS for Consulting services  01/23/2001         604         1.10         6          658         664
CS for Cash                 01/24/2001      25,000         1.00       250       24,750      25,000
WAR for Loan agreements     02/01/2001                                                                             285,000
CS for Cash                 02/06/2001      20,000         1.00       200       19,800      20,000
CS for Consulting services  02/06/2001         483         1.00         5          478         483
CS for Directors'
compensation                02/23/2001      75,000         0.85       750       63,000      63,750
OPT for Director, officer
and employee
compensation                02/23/2001                                                               1,200,000
WAR for Loan agreements     03/12/2001                                                                              50,000
WAR Extension of exercise
period                      03/12/2001
CS for Modification of
contract                    03/22/2001       3,000         0.78        30        2,310       2,340

CS for Interest payments      04/03/01        5000          .83        50        4,100       4,150
CS for Consulting Services    04/13/01         967          .98        10          938         948
CS for Mineral Property
Expense                       05/11/01        1000          .85        10          840         850


BALANCE JUNE 30, 2001                   18,572,770               $185,728  $ 3,606,039  $3,791,767   1,294,500   8,944,761


                             VALUE OF
                             OPTIONS/
                             WARRANTS
<S>                         <C>
CS for Cash from options        (8,702)
CS for Consulting services
CS for Officers'
compensation
Cash for Warrants               10,000
CS Adjustment

BALANCE SEPTEMBER 30,
2000                        $  118,920

Common stock, options
and warrants activity as
follows:
CS for Cash from options        (3,070)
CS for Consulting services
CS for Officers'
compensation
WAR for Consulting
services                       123,775
CS for Employees'
compensation
CS for Cash
WAR for Consulting
services                        46,746
CS for Consulting services
CS for Cash
CS for Consulting services
CS for Consulting services
CS for Cash
WAR for Loan agreements         76,551
CS for Cash
CS for Consulting services
CS for Directors'
compensation
OPT for Director, officer
and employee
compensation                   354,000
WAR for Loan agreements         13,430
WAR Extension of exercise
period                         608,058
CS for Modification of
contract

CS for Interest payments
CS for Consulting Services
CS for Mineral Property
Expense


BALANCE JUNE 30, 2001       $1,338,410
</TABLE>


                                       18
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS

The  Company  had  a  Stock Option Plan, (the "Old Plan") which was initiated to
encourage  and  enable  qualified officers, directors and other key employees to
acquire  and  retain  a  proprietary interest in the Company by ownership of its
common  stock.  A  total  of ten percent of the currently issued and outstanding
shares  of  the  Company's common stock may be subject to, or issued pursuant to
the  terms  of the plan. No options were issued under the Plan, and the Plan has
been  terminated.

On  February  23,  2001, the Company's shareholders approved the adoption of the
2000  Equity  Incentive  Plan  and the reservation of 5,000,000 shares of Common
Stock  for  distribution  under  the  plan.  These shares and options to acquire
those  shares  may  be  granted to the Company's employees (including officers),
directors  and  consultants.  The  plan  will terminate on January 4, 2011.  The
exercise price of options granted under this plan will not be less than the fair
market  price  on  the date of grant and in some cases not less than 110% of the
fair  market  price.  The  term,  vesting  schedule,  transfer  restrictions and
termination  are  to  be  determined  by  the  Company's  Board  of  Directors.

In  the  Black-Scholes  Option  Price  Calculations  below, the Company used the
following  assumptions  to  estimate fair value: the risk-free interest rate was
5.5%,  volatility was 30.0% in 1998, 55.12% in 1999, 48.05% in 2000 and 46.4% in
2001,  and the expected life of the options and warrants varied from one week to
5.5  years.  The  Company also assumed that no dividends would be paid on common
stock.

On February 23, 2001, the Company issued under the plan to its five non-employee
directors  an  aggregate of 75,000 shares of common stock and options to acquire
75,000  shares  with  an  exercise  price  of  $0.80 per share exercisable until
February  23,  2004.  The  Company  also  issued under the plan to its employees
(including  officers) options to acquire 1,125,000 shares with an exercise price
of $0.80 per share exercisable until February 23, 2004.  The total fair value of
the options issued to directors and employees, estimated on the grant date using
the  Black-Scholes  Option  Price Calculation, was $354,000.  The fair value was
charged  as  a  compensation  expense.

During 1999, the Company granted various stockholders options to acquire 150,000
shares  of  common  stock  at  prices  varying  from $0.15 to $0.35 per share as
additional  incentives  for  various  stock  purchases.  At the respective grant
dates,  these  options  were  each  determined to have no appreciable fair value
using  the  Black-Scholes  Option  Price  Calculation.

In  February  2000,  the  Company granted an employee options until February 25,
2002  to acquire 33,333 shares of common stock at an exercise price of $0.30 per
share  as  compensation.  The fair value of these options estimated on the grant
date  using the Black-Scholes Option Price Calculation was $3,070.  The employee
exercised  these  options  in  October  2000.

During  the  fiscal  year  ended  September  30,  2000,  the  Company's board of
directors  issued options to purchase 67,000 shares of its common stock at $0.50
per  share  to  six retired directors.  The options issued to each director were
based  on  years of service and are exercisable from April 15, 2000 to April 15,
2003.  The  fair  value  of  these options estimated on the grant date using the
Black-Scholes  Option  Price  Calculation  was  $12,750.


                                       19
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS (CONTINUED)

As  partial  consideration  for  an  amendment  to the GMC option agreement, the
Company  granted  to  GMC  in June 2000 a warrant to purchase 200,000 shares for
$0.70 per share exercisable until June 12, 2002.  The fair value of this warrant
estimated  on  the  date  of  issuance  using  the  Black-Scholes  Options Price
Calculation  was  $30,000.

On November 17, 2000, the Company entered into a consulting agreement with R. H.
Barsom  Company, Inc., under which the consultant would perform certain services
for  the Company until June 30, 2001, for an advance fee of $100,000 and 180,000
shares  of  common stock.  In early January 2001, the Company and the consultant
agreed  to  terminate  the  agreement.  In  connection with the termination, the
consultant  surrendered the 180,000 shares of common stock and received warrants
to  purchase  180,000  shares  of the Company's common stock at $1.50 per share,
exercisable  over  approximately  two  years.  The  fair value of these warrants
estimated on the grant date using the Black-Scholes Option Price Calculation was
$46,746,  which  was  included  in  consulting  expenses  for  the quarter ended
December  31,  2000.

On  November  8,  2000,  effective  November 1, 2000, the Company entered into a
24-month agreement with Eurofinance Inc. under which the entity would assist the
Company with certain investment community matters in return for a monthly fee of
$5,000,  plus  expenses, and warrants to purchase 820,000 shares of common stock
at  $1.50  per  share.  The warrants were exercisable until November 1, 2005. In
early  January  2001,  this agreement was terminated, with the Company no longer
obligated  for  the  remaining  monthly  fees,  and only the warrant for 250,000
shares  that  vested on November 1, 2000 remains outstanding.  The fair value of
this  warrant  estimated  on the grant date using the Black-Scholes Option Price
Calculation  was  $123,775  which  was  included  in consulting expenses for the
quarter  ended  December  31,  2000.

Tigris  Financial  Group  Ltd./Electrum  LLC
--------------------------------------------
On  December  29, 1999, the Company entered into a stock purchase agreement with
Tigris Financial Group Ltd. under which Tigris purchased 1,000,000 shares of the
Company's  common stock for $100,000, was granted an option until March 28, 2000
to  acquire up to an additional 3,500,000 shares of common stock for an exercise
price  of  $0.14  per  share, (or $490,000 in the aggregate), and was granted an
option  to  purchase,  for $10,000, warrants to purchase an additional 6,250,000
shares  of  the  Company's common stock at an exercise price of $0.40 per share.
The  Company used the Black-Scholes Option Price Calculation effective as of the
transaction  date and estimated the fair values to be $37,524 for the option and
$50,062  for  the  warrants.  On March 8, 2000, Tigris assigned its rights under
the  stock  purchase  agreement  to  Electrum  LLC,  an  affiliate.

Electrum  exercised  its  option  and acquired 3,500,000 shares of the Company's
common  stock  in  February  and March 2000.  Pursuant to the terms of the stock
purchase  agreement,  upon  exercise  in  full  of this first option, Electrum's
option until September 25, 2000 to purchase up to an additional 4,608,000 shares
of  common  stock  at  an  exercise price of $0.14 per share, or $645,120 in the
aggregate,  became  exercisable.

On  June  27,  2000,  the  Company and Electrum entered into an amendment to the
stock purchase agreement under which the option to purchase 4,608,000 shares was
modified.  As  modified, Electrum had an option until July 5, 2000 to acquire up
to  an  additional  1,597,588  shares  at  $0.062  per  share or $100,000 in the
aggregate  and,  upon  exercise  in  full  of  this  option,  an  option  became
exercisable


                                       20
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS (CONTINUED)

until  September 25, 2000 to acquire up to 4,740,174 shares at an exercise price
of  $0.115  per share, or $545,120 in the aggregate.  In addition, the option to
purchase  warrants  was  modified  and,  as  modified, Electrum had an option to
purchase,  for  $10,000,  warrants  to buy up to 7,979,761 shares at an exercise
price  of  $0.40  per  share until September 20, 2003.  The Company utilized the
Black-Scholes  Option  Price  Calculation  to  estimate  the  fair  value of the
modifications  as  of  the  grant  date  and recorded $4,262 for the options and
$10,379  for  the warrants.  The $14,641 total amount was charged as a financing
expense.

Electrum has exercised all of its options to purchase the Company's common stock
and  its  option to purchase the warrant.  In connection with its acquisition of
those  shares,  Electrum assigned 3,530,174 shares and 500,000 warrants to third
parties.  Subsequently, Electrum has assigned an additional 2,000,000 shares and
500,000  warrants.

Pursuant  to  loan  agreements between the Company and Electrum LLC, the Company
issued  warrants  to acquire 285,000 shares at $1.50 per share in February 2001,
exercisable through September 30, 2003, and warrants to acquire 50,000 shares at
$1.50  per  share  in  March  2001,  exercisable through September 30, 2006. The
Company  also  extended  through  September 30, 2006 the expiration dates of the
285,000  warrants,  together with the warrants to acquire 7,979,761 shares.  The
fair  values of the newly issued 285,000 warrants and 50,000 warrants, estimated
on  their  respective grant dates, as modified for the expiration date extension
in  the  case  of  the  285,000  warrants,  using the Black-Scholes Option Price
Calculation,  were  $76,551  and  $13,430,  respectively.  The fair value of the
modification  to  extend  the  expiration  date, estimated as of the date of the
modification  for  the  7,979,761 warrants, using the Black-Scholes Option Price
Calculation,  was  $608,058.

As  of June 30, 2001, Tigris and Electrum own approximately 29% of the Company's
outstanding  common stock and, assuming that Electrum exercises its warrants and
that  the  Company  has  issued  no  other  shares,  would own nearly 49% of the
Company's  then  outstanding  common  stock.

Electrum  had  certain preemptive rights, which were not exercised and have been
subsequently  terminated.  Tigris  and  Electrum  have the right to proportional
representation  on  the Company's board of directors and registration rights for
all  of the Company's common stock acquired through this agreement held by them.

As  of June 30, 2001 and 2000, the Company had warrants outstanding as described
representing  8,944,761  and  8,179,761  shares  of  common stock, respectively.


                                       21
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 5 - COMMON STOCK OPTIONS AND WARRANTS (CONTINUED)

Following  is  a  summary  of  the  status  of the options during the year ended
September  30,  2000  and  the  period  ended  June  30,  2001:

                                                              Weighted Average
                                           Number of Shares    Exercise Price
                                           -----------------  -----------------
Outstanding at October 1, 1999                      330,000   $            0.32
Granted                                           9,938,095                0.12
Exercised                                        (9,962,762)               0.12
Forfeited                                                 -                   -
Revised                                            (127,500)               0.36
Expired                                             (50,000)               0.35
                                           -----------------  -----------------
Outstanding at September 30, 2000                   127,833   $            0.51
                                           =================  =================
Options exercisable at September 30, 2000           127,833   $            0.51
                                           =================  =================


Outstanding at October 1, 2000                      127,833   $            0.51
Granted                                           1,200,000                0.80
Exercised                                           (33,333)               0.30
Forfeited                                                 -                   -
Revised                                                   -                   -
Expired                                                   -                   -
                                           -----------------  -----------------
Outstanding at June 30, 2001                      1,294,500   $            0.79
                                           =================  =================
Options exercisable at June 30, 2001              1,294,500   $            0.79
                                           =================  =================

On or before July 19, 2001                           15,000   $            0.50
On or before July 19, 2002                           12,500   $            1.00
On or before April 14, 2003                          67,000   $            0.50
On or before February 23, 2004                    1,200,000   $            0.80


                                       22
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 6 - RELATED PARTY TRANSACTIONS

The  Company  has accrued director and officer fees in the amounts of $83,798 at
June  30,  2001.  As  of  June  30,  2000, the Company owed fees to officers and
directors  of  $10,000.

In  June  2000,  the  Company  and  GMC  amended the Lake Owen option agreement.
Pursuant to the amendment, the Company issued 416,961 shares at an average price
of  $0.06  per share to GMC in connection with the exercise by GMC of preemptive
rights.  In  addition,  the  Company  agreed to perform an additional $15,000 of
geophysical  survey  work  on  the Lake Owen project prior to December 31, 2000,
issued  200,000  additional  shares  of common stock to GMC and granted to GMC a
warrant  to  purchase  200,000 shares for $0.70 per share exercisable until June
12,  2002  in  exchange  for  GMC's  agreement to terminate its antidilution and
preemptive  rights  as provided in the original Lake Owen option agreement.  The
geophysical  survey  work  period  has  been  extended beyond December 31, 2000.

Related  Party  Loans
---------------------
In  November  2000, the Company borrowed $135,000 from Electrum.  The loan bears
interest  at  an annual rate of 5% and is due either on December 1, 2005 or upon
the  Company's  completion  of  a  public  or  private debt or equity financing.

In December 2000, the Company entered into an agreement with Electrum to provide
the  right  to  borrow  an  additional  $250,000.  The funds obtained under this
agreement bear interest at 8%, and repayment is due on June 30, 2001 or upon the
Company's  completion  of  a  public  or  private  debt or equity financing. The
Company  borrowed  $200,000  under  this  agreement, and no additional funds are
available  under  this  agreement.

The  loan  agreement  provides  that  if these loans are not paid by February 1,
2001,  the  Company  is  required to grant Electrum warrants to purchase 285,000
shares  of  the  Company's  common  stock at $1.50 per share exercisable through
September  30,  2003.  The  loans  were  not repaid by February 1, 2001, and the
warrants have been issued.  Electrum may also elect to be repaid part or all the
total  principal  and  interest outstanding under both loans in "units" of Trend
securities,  at  the  rate  of  one  unit  per each $1.25 owed.  Each unit would
consist  of  one  share  of  common stock and a warrant to purchase one share of
common  stock  at  $1.50 per share, originally exercisable through September 30,
2003.  Electrum has agreed that at least $100,000 of the November 2000 loan will
be  repaid  in  units.  This  conversion  of  debt  to  equity  has  not  been
accomplished,  and  was not reflected in the financial statements as of June 30,
2001.

On  March  12,  2001,  the Company entered into an agreement with Electrum under
which the Company borrowed an additional $50,000 to fund its operating costs, on
the  same interest and repayment terms as the loans under the December 2000 loan
agreement.  Under this agreement, in March 2001, the Company granted to Electrum
warrants  to  purchase  an additional 50,000 shares of its common stock at $1.50
per  share,  exercisable through September 30, 2006.  The Company also agreed to
extend  through  September  30,  2006,  the  expiration dates of the warrants to
acquire  7,979,761  shares  issued  under  the  stock purchase agreement and the
warrants  to  acquire  285,000  shares issued under the December 2000 agreement.


                                       23
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE 6 - RELATED PARTY TRANSACTIONS (CONTINUED)

In  the quarter ended March 31, 2001, the Company recorded a financing charge of
$608,058  related  to  the extension of the 7,979,761 warrants granted under the
stock  purchase  agreement  and recorded a financing charge totaling $89,981 for
the  grant  and extension of the 285,000 warrants issued under the December 2000
loan  agreement and the grant of the 50,000 warrants issued under the March 2001
loan  agreement.  These  financing  costs represent the fair value of the equity
issuances  under  the  Company's  Black-Scholes  Option  Price  Calculation.

On  April  11,  2001,  the Company entered into an agreement with Electrum under
which  the  Company may borrow additional funds from Electrum under the terms of
December  2000 loan agreement to fund its operating costs if Electrum elects, in
its  sole  discretion, to lend such funds. During the period from April 10, 2001
through  June  30,  2001 the Company borrowed $150,000 under this agreement. The
funds borrowed under this agreement bear interest at 8%, and repayment is due on
the  earlier  of  June  30,  2001  or completion of any private placement of the
Company's  shares.  At  Electrum's  option, the Company may repay part or all of
the  principal  and  interest  outstanding  under the loan in units as described
above.

Employment  Agreement
---------------------
In  July  2000, the Company entered into an employment agreement with John Ryan,
then  the Chief Financial Officer, Secretary and Treasurer of the Company, under
which  Mr.  Ryan  received  3,000  shares  per  month  of  Trend common stock as
compensation  for  his  services.  Mr.  Ryan resigned in December 2000, and this
agreement  was terminated. No amounts were owed to Mr. Ryan as of June 30, 2001.
In  August  2001, Mr. Ryan was again designated as the Company's Chief Financial
Officer,  Secretary  and  Treasurer.


NOTE  7  -  PROPERTY  AND  EQUIPMENT

Property  and  equipment are recorded at cost.  Major additions and improvements
are  capitalized.  Minor  replacements,  maintenance  and  repairs  that  do not
increase  the useful lives of the assets are expensed as incurred.  Depreciation
of  property  and  equipment,  including vehicles, is being calculated using the
straight-line method over the expected useful lives of five years of the assets.
Depreciation  expense for the nine month period ended June 30, 2001 and the year
ended  September  30,  2000  was  $13,461  and  $10,823,  respectively.

The following is a summary of property, equipment, and accumulated depreciation.

                                        June 30,    September 30,
                                          2001          2000
                                       ----------  ---------------
       Furniture and Equipment         $  51,288   $       51,288
       Less: Accumulated Depreciation    (24,572)         (11,111)
                                       ----------  ---------------
                                       $  26,716   $       40,177
                                       ==========  ===============


                                       24
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  8  -  INVESTMENTS

The  Company's  securities  investments  are  classified  as  available-for-sale
securities  which  are recorded at fair value in investments and other assets on
the balance sheet, with the change in fair value during the period excluded from
earnings  and  recorded net of tax as a component of other comprehensive income.
The  Company  has  no  securities,  which are classified, as trading securities.

The  Company recognized a charge for other comprehensive loss of $38,314 for the
year  ended  September  30, 2000.  In the nine month periods ended June 30, 2001
and  June  30,  2000,  the  Company  recognized  income  of  $413  and  $5,686,
respectively, for the change in the market value of investments.  The investment
in  New  Jersey  Mining Company was liquidated during the period ended March 31,
2001  and  the  Company  realized  a  loss  of  $74,533.

Subsequent  to the end of the reporting period, the Company disposed of its last
50,000 shares of New Jersey Mining Company stock to Mine Systems Design, Inc. in
settlement  of  a consulting invoice of $22, 539. The Company realized a gain of
$22,539  on  this  transaction.

NOTE  9  -  NOTES  PAYABLE

Following  is  a summary of long-term debt as of June 30, 2001 and September 30,
2000:

<TABLE>
<CAPTION>
                                                                  June 30,    September 30,
                                                                    2001          2000
                                                                 ----------  ---------------
<S>                                                              <C>         <C>

Note payable to First Security Bank, N.A.
     Interest at 14.99%, secured by vehicle, payable in monthly
     installments of $179 through February 28, 2003              $   3,306   $        4,339

Note payable to First Security Bank, N.A.
     Interest at 14.99%, secured by vehicle, payable in monthly
     installments of $231 through April 7, 2005                      8,051            9,042
                                                                 ----------  ---------------

     Total notes payable                                            11,251           13,381

     Less:  Current maturities included in current liabilities      (3,308)          (2,992)
                                                                 ----------  ---------------

                                                                 $   7,943   $       10,389
                                                                 ==========  ===============
</TABLE>

Following  are the maturities of long-term debt for the current year and each of
the  next  four  years  ending  on  September  30:

            2001                 $   1,062
            2002                     3,408
            2003                     2,884
            2004                     2,345
            2005                     1,552
                                ----------
                                $   11,251
                                ==========


                                       25
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  10  -  INCOME  TAXES

At  June  30,  2001,  the Company has accumulated operating losses approximating
$5.5  million.  These  operating  losses  may  be  offset against future taxable
income,  however  there is no assurance that the Company will have income in the
future.  Accordingly,  the  potential  tax  benefit  of  the  net operating loss
carryforward  is  offset  by  a  valuation  allowance  of  the same amount.  The
Company's  ability  to  utilize  these  net  operating loss carryforwards may be
limited  by  ownership  changes.  No  provision  for  the  recoverability of tax
benefits  has  been  reported in the financial statements of the Company, due to
their  uncertainty.  The  Company  also  owes  to  the  Internal Revenue Service
employment  taxes  of  $87,616  as  of  June  30,  2001.


NOTE  11  -  COMMITMENTS  AND  CONTINGENCIES

Lake  Owen  Option  Agreement
-----------------------------
In  July  1999,  the  Company executed an option agreement with General Minerals
Corporation  (hereinafter "GMC") wherein the Company may earn a 100% interest in
a  mineral  property  in  Albany  County, Wyoming in exchange for its payment of
exploration expenditures during the three-year option period, which commenced on
July  27, 1999.  Under the agreement, the Company is obligated to spend $750,000
on  exploration  expenditures  for this project, commonly known as the Lake Owen
property,  during  the  option  period,  with  no  less  than  $150,000  of such
expenditures  to  be  made  within the first year.  The agreement was amended in
June  2000  to  include  $15,000  of  geophysical  survey  work.

In  consideration for the aforementioned option, the Company paid GMC $40,000 in
cash  and  issued to GMC 715,996 shares in 1999 and 129,938 shares in 2000.  The
Company  and  GMC  subsequently entered into an amendment to the agreement under
which  (i)  the  Company issued 416,961 shares of common stock to GMC upon GMC's
exercise  of preemptive rights, (ii) the Company agreed to perform an additional
$15,000 of geophysical work on the Lake Owen Project prior to December 31, 2000,
(iii)  the  Company  issued  200,000  additional shares and warrants exercisable
until  June  2002  to  purchase  200,000 shares at $0.70 per share, and (iv) GMC
agreed  to  terminate  its antidilution and preemptive rights as provided in the
original  agreement.

Peter Lake Property
-------------------

The  Company  is  committed  to making exploration expenditures of approximately
$225,000  between  September  1,  2001 and September 2, 2002 on this property in
order  to  retain  its  interest.

Intrepid  Option  Agreement
---------------------------
In  May  2000,  the Company entered into a three year lease and option agreement
under  which  it  has the right to acquire a 100% interest in the eight Intrepid
claims.  Upon  entering  the agreement, the Company paid the claim owners $5,800
and  100,000  shares  of  common  stock.  The  Company  is  obligated  to  make
exploration  expenditures  of at least $10,000 by September 30, 2001, $15,000 by
March  4, 2002 and $15,000 by March 4, 2003.  In addition, the Company must make
advance  royalty  payments of $10,000 by March 4, 2001, $25,000 by March 4, 2002
and  $35,000  for  each  year  thereafter.

During  the  option  period,  the  Intrepid  claims are subject to a net smelter
royalty  of  3%  on  all  ores  produced  and sold from the Intrepid claims. The
Company  has  the  right to exercise the purchase option at any time for a total
purchase  price  of  $320,000,  with any advance royalty payments to be credited
against  the  purchase price, and the claim holders retaining a 0.5% net smelter
royalty.  The  Company  has  agreed to issue an additional 100,000 shares to the
claim  holders  if  it  has  not  terminated  the  agreement  by  November 2001.


                                       26
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  11  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

In  March  2001,  the  Company and the claim holders agreed to replace the March
$10,000  advance  royalty  payment  with  a  $9,000 payment due May 11, 2001. In
connection  with  this  agreement, the Company issued to the claim holders 3,000
shares  of common stock on March 11, 2001 with an aggregate value of $2,340. The
May  11  payment  has  not  been  made and the Company is seeking to modify this
agreement  further. In May 2001, the Company issued 1,000 shares of common stock
with  a  value  of  $850  and  paid  $1,000  in  cash per terms of the agreement
modification,  which reduced the outstanding $9,000 payment to $8,000. (See Note
3.)

Lease  Agreements
-----------------
Through  the year ended September 30, 2000, the Company rented office facilities
in  Coeur d'Alene, Idaho on a month-to-month basis.  Total rents paid during the
year  ended  September  30,  2000  were  $5,530.

During  the period ended December 31, 2000, the Company entered into a lease for
its  executive  offices  in Coeur d'Alene.  The lease has a three-year term with
monthly  rent  of  $2,656 in addition to a $2,656 security deposit.  The Company
has the option to extend the lease for an additional two years at a monthly rent
of  $2,921.  The  Company's  rent  expense reflects a reduction for payments for
improvements  that  were considered to be in lieu of lease expense.  Total rents
expensed  during  the  nine month period ended June 30, 2001 were $24,468. As of
June  30,  2001  $2656  was  still  outstanding.

In  July  2000,  the  Company  entered into a new lease agreement for additional
office  facilities in Reno, Nevada.  The agreement is a two year lease and calls
for  monthly  payments  of  $1,725  during  the first year and $1,775 during the
second  year  in  addition  to a $350 security deposit.  Prior to the signing of
this  lease,  the  Company had occupied the facilities on a month-to-month basis
for  $1,714  per month.  Total rents during the nine month period ended June 30,
2001  and  the  year  ended  September  30,  2000  were  $15,595  and  $3,438,
respectively.

The  minimum  lease  payments  as  of  June 30, 2001, for the nine months ending
September  30,  2001  and  for  fiscal  years  2002  and  2003,  are as follows:

          2001     $      15,949
          2002            47,847
          2003            31,872
                   -------------

         Total     $     106,155
                   =============

Consulting  Agreements
----------------------
On November 17, 2000, the Company entered into a consulting agreement with R. H.
Barsom  Company, Inc., under which the consultant would perform certain services
for  the Company until June 30, 2001, for an advance fee of $100,000 and 180,000
shares  of  common stock.  In early January 2001, the Company and the consultant
agreed  to  terminate  the  agreement.  In  connection with the termination, the
consultant  surrendered the 180,000 shares of common stock and received warrants
to  purchase  180,000  shares  of the Company's common stock at $1.50 per share,
exercisable  until  January  2003.


                                       27
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  11  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

On  November  8,  2000,  effective  November 1, 2000, the Company entered into a
24-month agreement with Eurofinance Inc. under which the entity would assist the
Company with certain investment community matters in return for a monthly fee of
$5,000,  plus  expenses, and warrants to purchase 820,000 shares of common stock
at  $1.50  per  share.  The warrants were exercisable until November 1, 2005. In
early  January  2001,  this agreement was terminated, with the Company no longer
obligated  for  the  remaining  monthly  fees,  and only the warrant for 250,000
shares  that  vested  on  November  1,  2000  remains  outstanding.

On  October 31, 2000, the Company entered into a consulting agreement with Brian
Miller under which Mr. Miller performed certain services for the Company.  Under
this  agreement,  Mr.  Miller  was  to  have  received  cash  for his consulting
services  and  was  granted  10,000  shares of common stock effective January 2,
2001.  On  February  23,  2001 Mr. Miller was also granted an option to purchase
107,800  shares  at  $.80 .  On  July 20, 2001 and subsequent to the end of this
reporting  period,  Mr.  Miller  was  informed  that the Company would no longer
require  his  services.  The  Company  is  currently negotiating with Mr. Miller
regarding  outstanding  invoices  due  to  him.


NOTE  12  -  DISPOSAL  AND  IMPAIRMENT  OF  ASSETS

In  late  1998,  the  Company  acquired  mining  equipment valued at $180,000 in
exchange  for  600,000  shares  of common stock with a value of $0.30 per share.
Most  of  this  equipment was sold during the year ending September 30, 1999 for
$32,300,  resulting  in a realized loss of $129,700.  In addition, an impairment
of  $14,000,  representing  the  excess  of  the  $18,000  carrying value of the
remaining  equipment  over its fair value of $4,000, was included in the loss on
disposition  and  impairment  of  assets charged to operations in the year ended
September  30,  1999.  The Company also recognized a loss of $55,000 on the sale
of  the  Rae  Wallace  Mine,  which had been acquired during 1998 for $75,000 in
common  stock  and  was sold in 1999 for $20,000.  In addition, the Company sold
miscellaneous  equipment  in 1999, recognizing $7,026 in additional gains.  (See
Note  3.)

During  the  year  ended  September  30,  2000, the Company recognized a gain of
$5,000  on  the sale of the Silver Strand Mine, for which it received New Jersey
Mining Company stock valued at $5,000 and retained a royalty.  The mine had been
acquired  for  common  stock  in  1984. This New Jersey Mining Company stock was
subsequently  transferred to a consultant in settlement of outstanding invoices.
(See  Notes  3,  8  and  13.)


NOTE  13  -  SUBSEQUENT  EVENTS

Settlement  with  Mine  Systems  Design,  Inc.
----------------------------------------------

The  Company  owed  invoices  of  $22,539  for  consulting services rendered. In
settlement  of  this  invoice,  on  July  24,  2001  the Company quitclaimed any
remaining  interest  in  the Silver Strand property to Mine Systems Design, Inc.
and  transferred  50,000  shares  of  New Jersey stock to Mine Systems Design.


                                       28
<PAGE>
                              TREND MINING COMPANY
                     (FORMERLY SILVER TREND MINING COMPANY)
                         (AN EXPLORATION STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2001

NOTE  13  -  SUBSEQUENT  EVENTS  (CONTINUED)

Loans  to  Company
------------------
On  July 3, 2001 the Company borrowed from Electrum, LLC $85,000 pursuant to the
loan  agreement  dated  April  11,  2001  and further described in Note 6 above.
Effective July 30, 2001 the Company entered into a loan facility with an Officer
of  the  Company entitling the Company to borrow up to $85,000. On July 30, 2001
the  Company  borrowed  $24,000  pursuant to this loan facility. This loan bears
interest  at 8% annually. The Company issued a warrant to the Officer for 85,000
shares  exercisable at $1.50 until September 30, 2003 as additional compensation
for  entering  this  loan  facility.


                                       29
<PAGE>
ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATIONS

     Our  losses  for  the  quarter  and  nine  months ended June 30, 2001, were
$433,401  and  $3,091,222,  respectively. These losses increased our accumulated
deficit  as  of  June  30,  2001  to  $6,800,803.  Our third quarter loss is due
primarily  to  professional  services  fees  of  $184,403, and general operating
expenses  of  $125,542.  We  incurred increased legal and accounting expenses in
connection  with  our  Form  10SB registration statement process. These expenses
should be greatly reduced in the future as the Company progresses in its ongoing
financial  reporting  requirements, much of which will now be handled internally
by  Company  staff.  Our  operating  cash  deficit  totaled  $151,767 during the
quarter. We have inadequate cash to fund our planned acquisition and exploration
activities  and  other  operations  during  the  next  12  months.  Such funding
uncertainty  raises  substantial doubts about our ability to continue as a going
concern  without  raising  significant  additional  capital.

     Since February 2000, the exercise by Electrum LLC of its options to acquire
our  common  stock  and  other  private  financing  have generated approximately
$1,381,000  in funds to finance our planned activities.  As of June 30, 2001, we
have borrowed approximately $535,000 from Electrum LLC, our largest stockholder,
to fund our activities pursuant to certain financial arrangements.  Electrum has
agreed  to  convert at least $100,000 of the debt to "units," at $1.25 per unit.
A  unit  is  comprised of one share of our common stock and a warrant to acquire
one  share  of  common  stock at an exercise price of $1.50, exercisable through
September  30,  2006.  In  connection with the loan agreements with Electrum, we
have granted Electrum warrants to purchase 335,000 shares of our common stock at
$1.50  per  share,  exercisable through September 30, 2006, and we have extended
for  three  years  through  September 30, 2006 the expiration date of additional
warrants  to  acquire  7,979,761  shares.

     We must seek additional financing from the public or private debt or equity
markets to continue our business activities.  Under our new 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.  The holder of our
Series  A  preferred  stock,  currently Mr. Kaplan, has the right to approve all
issuances  of  equity  securities.  There can be no assurance that Electrum will
continue  to  advance  funds  to  us  or  that  our efforts to obtain additional
financing  will be successful.  If we are unable to raise additional capital, we
may  have  to  suspend  or  cease  operations.

     During  July  and August 2001, we have implemented plans to close the Reno,
Nevada  office  and  reduce staff. We will also continue to review the Company's
mineral  properties  and  the  expenses  associated  with  their exploration and
development  with an eye towards further cost-cutting and a focus on the mineral
properties  which  we  view  as  having  the greatest potential to host economic
mineralization.

If  we  are  able  to  raise additional capital on acceptable terms, our primary
business  objective  for the remainder of 2001 and into 2002 will be to focus on
the  evaluation  of  the  mineral  properties  we now control.  We will focus on
satisfying  the  work  commitments  that  are required on the Lake Owen property
under  the  Lake Owen option agreement.  During the remainder of 2001 we plan to
spend  from  $200,000  to  $300,000  on  land  payments,  scientific analyses of
existing  geologic  data,  and  general  exploration activities on the Lake Owen
property.  In  addition, depending on the timing of raising additional funds, we



                                       30
<PAGE>
may  spend  from  $50,000  to $100,000 on a selected basis on our other existing
properties  for  reconnaissance  and  other  exploration work, which may include
geological  mapping,  geo-chemical sampling, and/or geophysical surveys.  During
the  quarter  ended  June 30, 2001, our exploration expenditures totaled $25,838
and  have  amounted  to  $247,988  during  the  fiscal  year  to  date.

     As  of  June  30,  2001, we had a net operating loss for federal income tax
purposes  of  approximately  $5.5  million.  A  significant  portion of this net
operating  loss  may  expire  without its being utilized, as we may be unable to
begin  profitable  operations,  which  would  involve  moving  from  being  an
exploration  stage  company  to  a  development  stage  company  and  finally an
operating  entity, before its expiration.  The net operating loss may be further
limited  under  Internal  Revenue  Service  rules  concerning  limitations  from
ownership  changes.  Our  management  believes there is no current basis for the
recognition  of  the  value  of  the  deferred  tax  assets derived from the net
operating  loss.  At  such  time  that  our  management believes that profitable
operations are imminent, the value of any net operating loss then available will
be  used  to  determine  the  net  deferred tax asset, if any, to be recognized.


                           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.


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<PAGE>
PART  II

ITEM  1.  LEGAL  PROCEEDINGS.

          None.

ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS.

     RECENT  SALES  OF  UNREGISTERED  SECURITIES

     We  had  18,617,770  shares  of  common  stock issued and outstanding as of
August  13, 2001.  Of these shares, approximately 2.8 million shares may be sold
without limitation under Rule 144, adopted under the Securities Act of 1933 (the
"Securities  Act"),  and  approximately 8.2 million shares can only be resold in
compliance  with  Rule  144  limitations.

     Effective February 16, 1999, we completed a 1 for 10 reverse stock split of
our  common stock.  Unless otherwise stated, all share amounts set forth in this
Form  10-QSB  are  presented  on  a  post-split  basis.

     In  general,  under  Rule  144,  a person who has beneficially owned shares
privately acquired directly or indirectly from us or from one of our affiliates,
for  at  least one year, or who is an affiliate, is entitled to sell, within any
three-month  period,  a number of shares that do not exceed the greater of 1% of
the  then  outstanding shares or the average weekly trading volume in our shares
during  the  four  calendar  weeks immediately preceding such sale.  Sales under
Rule  144  are  also  subject  to  certain  manner  of  sale  provisions, notice
requirements  and  the  availability  of current public information about us.  A
person  who  is  not  deemed to have been an affiliate at any time during the 90
days  preceding  a sale, and who has beneficially owned restricted shares for at
least  two  years,  is  entitled  to sell all such shares under Rule 144 without
regard  to  the  volume  limitations,  current  public information requirements,
manner  of  sale  provisions  or  notice  requirements.

     The  issuances  discussed under this section are exempted from registration
under  Rule  506  of  the  Securities  Act  ("Rule 504") or Section 4(2) of  the
Securities  Act  ("Section 4(2)"), as provided.  All purchasers of the following
securities  acquired  the  shares  for  investment  purposes  only and all stock
certificates  reflect the appropriate legends.  No underwriters were involved in
connection  with  the  sales  of  securities  referred  to  in  this  section.

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

1.   On  April  3,  2001, we issued  5,000  shares, valued at $4,150 pursuant to
Section  4(2)  to  a  consultant as payment for interest charges on a consulting
agreement.

2.   On  April 13, 2001 we issued 967 shares, valued at $948 pursuant to Section
4(2)  to  a  consultant  as  payment  for  consulting  services.

3.   On  May  11,  2001,  we  issued  1,000  shares  valued  at $850 pursuant to
Section 4(2) to three investors in connection with the modification of an option
agreement  concerning  mineral  property  expenses.


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<PAGE>
4.   On  July  6, 2001, we issued  40,000  shares  valued at $29,200 pursuant to
Section 4(2) as compensation for consulting services of Thomas K. Mancuso.

5.   On  August 9, 2001, we  issued  5,000 shares, valued at $3,850, pursuant to
Section  4(2)  for  interest  charges  on  a  consulting  agreement.

               Options
               -------

No  additional  options  were  issued  during the quarter ended June 30, 2001 or
subsequent  to  that  date  and  the  date  of  this  report.

               Warrants
               --------

No  additional  warrants  were  issued during the quarter ended June 30, 2001 or
subsequent  to  that  date  and  the  date  of  this  report.

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.

               On  April 16, 2001, the Company filed a Form 8-K, dated March 28,
          2001,  regarding  its  reincorporation  in  Delaware.


                                       33
<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 14, 2001          By:  /s/  Kurt J. Hoffman
                                    --------------------------------------------
                                     Kurt  J.  Hoffman
                                     President and Chief Executive Officer
                                     (Principal  Executive  Officer)

Dated:  August 14, 2001          By:  /s/  John  P.  Ryan
                                    --------------------------------------------
                                     John  P.  Ryan
                                     Chief  Financial  Officer


                                       34
<PAGE>