UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   Form 10-QSB


Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of
1934 For Quarterly period ended March 31, 2001

Transaction report under Section 13 or 15(d) of the Exchange Act For the
transition period from ____________ to _____________

Commission file number 0-1519

                              LEADVILLE CORPORATION
                              ---------------------
             (Exact Name or Registrant as Specified in its Charter)

        COLORADO                                        84-0388216
        --------                                        ----------
(State of Incorporation)                    (I.R.S. Employer Identification No.)

7002 Graham Road, Suite 106, Indianapolis, Indiana        46220
--------------------------------------------------      ----------
    (Address of Principal Executive Office)             (Zip Code)

                                 (317) 596-0735
                                 --------------
                          (Issuer's telephone number)

                                       N/A
                                       ---
   (Former name, address and former fiscal year, if changed since last report)


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

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes ___  No ___

                      APPLICABLE ONLY TO CORPORATE ISSUERS

                                   10,940,288
                                   ----------
              State the number of Shares of the issuer's classes of
                common equity, as of the latest practicable date:

           Transitional Small Business Disclosure Format (Check one):
                                  Yes ___ No X

<PAGE>


                              LEADVILLE CORPORATION
                          INDEX TO FINANCIAL STATEMENTS
                          AND SUPPLEMENTARY INFORMATION





PART I - FINANCIAL INFORMATION                                            Page

   FINANCIAL STATEMENTS

         Balance sheets                                                   3 - 4
         Statements of operations                                           5
         Statements of cash flows                                           6
         Notes to financial statements                                      7

   MANAGEMENT'S DISCUSSION AND ANALYSIS                                   8 - 9


PART II - OTHER INFORMATION

     Legal proceedings                                                     10
     Exhibits and reports on Form 8-K                                      11




                                       2
<PAGE>

PART I
ITEM 1. FINANCIAL STATEMENTS
----------------------------

                              LEADVILLE CORPORATION

                                 Balance Sheets
                                 March 31, 2001
                                   (Unaudited)

                                                    March 31,       December 31,
                                                       2001             2000
                                                   -----------      -----------
ASSETS

CURRENT ASSETS
   Cash                                            $    11,211      $    18,832
   Prepaid expenses and other                            5,321            5,321
                                                   -----------      -----------

        Total current assets                            16,532           24,153
                                                   -----------      -----------



PROPERTY AND EQUIPMENT, at cost
 (Notes 2 and 3)
   Mining properties, including assets
    acquired under capital leases                    7,356,979        7,356,979
   Buildings and equipment:
    Mine, including assets acquired
     under capital leases                            1,219,564        1,219,564
    Mill                                               829,032          829,032
    Other                                              108,143          108,143
    Land                                                22,429           22,429
                                                   -----------      -----------

                                                     9,536,147        9,536,147
    Less accumulated depreciation and
     depletion including amortization
     applicable to assets acquired under
     capital leases                                 (3,121,540)      (3,098,422)
                                                   -----------      -----------

                                                     6,414,607        6,437,725
                                                   -----------      -----------

OTHER ASSETS:
 Investments - certificates of deposit                 104,265          104,265
 Inventories                                           170,764          182,089
                                                   -----------      -----------

                                                       275,029          286,354
                                                   -----------      -----------

                                                   $ 6,706,168      $ 6,748,232
                                                   ===========      ===========


                                       3
<PAGE>


                              LEADVILLE CORPORATION

                             Balance Sheets (Cont.)
                                 March 31, 2001
                                   (Unaudited)

                                                     March 31,     December 31,
                                                       2001            2000
                                                   ------------    ------------

        LIABILITIES AND STOCKHOLDERS' EQUITY


CURENT LIABILITIES
   Related parties:
     Convertible debentures                        $    440,000    $    440,000
     Notes payable, stockholders                      2,060,812       2,060,812
     Accrued interest payable                         5,455,733       5,133,519
     Accrued salaries due staff                           3,000            --
     Accrued salaries due officers                      613,321         583,321
     Due to officers/directors/stockholders             104,075          97,950
   Notes payable-other                                   42,500          42,500
   Accounts payable                                      54,896         143,835
   Accrued expenses                                     137,179         136,948
                                                   ------------    ------------

         Total current liabilities                    8,911,516       8,638,884
                                                   ------------    ------------


SETTLEMENT OF LITIGATION                                114,000         114,000


        COMMITMENTS AND CONTINGENCIES


STOCKHOLDERS' EQUITY
   Capital stock, par value $1 per share;
     authorized 15,000,000 shares; issued and
     outstanding March 31, 2001 and
     December 31, 2000, 10,940,288 and
     10,940,288 shares, respectively                 10,940,288      10,940,288
   Additional paid-in capital                         8,693,415       8,693,415
                                                   ------------    ------------

                                                     19,633,703      19,633,703
   Accumulated deficit                              (21,953,051)    (21,638,356)
                                                   ------------    ------------

         Total stockholders' deficiency              (2,319,348)     (2,004,653)
                                                   ------------    ------------

                                                   $  6,706,168    $  6,748,232
                                                   ============    ============


                                       4
<PAGE>


                              LEADVILLE CORPORATION

                            STATEMENTS OF OPERATIONS

                                   (Unaudited)


                                                 Three Months ended March 31,
                                               --------------------------------
                                                   2001                2000
                                               ------------        ------------

Operating revenue                              $       --          $       --
                                               ------------        ------------

Operating costs and expenses:
 General and administrative                          68,350             134,656
 Depreciation                                        23,118              23,118
                                               ------------        ------------

 Total operating expenses                            91,468             157,774
                                               ------------        ------------

 Operating loss                                     (91,468)           (157,774)
                                               ------------        ------------

Financial income and expense:
 Other income                                          --                  --
 Interest income                                      1,083               1,225
 Interest expense                                  (224,264)           (247,269)
                                               ------------        ------------


 Total financial income
 (expense)                                         (223,181)           (246,044)
                                               ------------        ------------


Net loss                                       $   (314,649)       $   (403,818)
                                               ============        ============
Net loss per capital
share (basic and diluted)                      $       (.03)       $       (.04)
                                               ============        ============



Weighted average number of
 capital shares outstanding
 (total shares)                                  10,940,288          10,927,063
                                               ============        ============


See Notes to Financial Statements.

                                       5
<PAGE>


                              LEADVILLE CORPORATION

                            STATEMENTS OF CASH FLOWS
                   Three Months Ended March 31, 2001 and 2000
                                   (Unaudited)


                                                         2001            2000
                                                       ---------      ---------

CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss                                            $(314,649)     $(403,878)
   Adjustments to reconcile net loss
   to net cash used in
   operating activities:
     Depreciation                                         23,118         23,118
     Stock issued for officer compensation                  --             --
     Change in assets and liabilities:
       (Increase) decrease in:
          Prepaid expenses                                  --             --
          Investments-CDs                                   --             --
          Inventories                                     11,325         11,325
        Increase (decrease) in:
          Accounts payable                                 8,965        (63,228)
          Accrued expenses                                 3,231         44,639
          Officer payables                                 6,125          4,054
          Accrued Salaries - Officers                     30,000         67,499
          Accrued interest                               224,264        259,090
                                                       ---------      ---------

        Net cash used
          in operating activities                         (7,621)       (57,321)
                                                       ---------      ---------


CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds from borrowing, related party                   --           45,000
   Paid in capital adjustment                               --             (638)
                                                       ---------      ---------

         Net cash provided by financing
          activities                                        --           44,362
                                                       ---------      ---------

         Increase (decrease) in cash and
          cash equivalents                                (7,621)       (12,959)

Cash and cash equivalents:
  Beginning                                               18,832         33,445
                                                       ---------      ---------

  Ending                                               $  11,211      $  20,486
                                                       =========      =========

SUPPLEMENTAL DISCLOSURES OF NON-CASH
   INVESTING AND FINANCING ACTIVITIES:
   Capital stock issued for forgiveness
    of accounts payable, interest
    and officer compensation                           $    --        $    --
                                                       =========      =========


See Notes to Financial Statements.

                                       6
<PAGE>


                              LEADVILLE CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2001


In the opinion of management of Leadville Corporation, (the "Company"), the
accompanying unaudited financial statements reflect all adjustments (consisting
of only normal recurring accruals) necessary to present fairly the financial
position of the Company as of March 31, 2001, and the results of operations and
cash flows for the three months ended March 31, 2001 and 2000.

These unaudited financial statements should be read in conjunction with the
Company's annual report on Form 10-KSB for the year ended December 31, 2000.


NOTE 1. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES:
---------------------------------------------------------------

Leadville Corporation (the Company) is engaged in the development of hard rock
mineral properties in Lake and Park Counties, Colorado. A summary of significant
accounting policies is currently on file with the Securities and Exchange
Commission on Form 10-KSB.

NOTE 2. RELATED PARTY TRANSACTIONS:
-----------------------------------

Certain officers, directors and stockholders have provided significant loans and
advanced expenses to the Company in recent years. The aggregate indebtedness to
the related parties, including accrued interest and other payables, amounted to
approximately $8,455,000 at March 31, 2001.

As of March 31, 2001, the Company owes its President accrued compensation and
expenses of approximately $442,439 and its past-CEO accrued compensation and
expenses of approximately $268,832.

NOTE 3. INCOME TAXES:
---------------------

As of December 31, 2000, the Company has available tax net operating loss
carryforwards of approximately $12,460,000, which can be utilized to offset
future taxable income. Utilization of these loss carryforwards may be limited
due to changes in ownership of the Company, and expire from 2001 through 2020.







                                       7
<PAGE>


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
--------------------------------------------

The following discussion should be read in conjunction with the Company's
consolidated financial statements and related notes included elsewhere herein.
The Company's results may be affected by various trends and factors that are
beyond the Company's control. These include factors discussed elsewhere herein.

With the exception of historical information, the matters discussed below under
the heading "Management's Discussion and Analysis" may include forward-looking
statements that involve risks and uncertainties. The Company cautions the reader
that a number of important factors discussed herein, and in other reports filed
with the Securities and Exchange Commission, could affect the Company's actual
results and cause actual results to differ materially from those discussed in
forward-looking statements.

The Company received no operating revenues during 1999 and 2000 and incurred net
losses in those years of $1,635,387 and $1,331,336, respectively. Management
does not anticipate that any operating revenues will be generated during the
year 2001. The Company's most viable prospect for generating income from
operations is by achieving production at the Diamond-Resurrection property. The
property should be primarily a gold producer, with significant quantities of
silver, lead and zinc present in the ores. In order to achieve production from
the Diamond-Resurrection property, the Company must secure significant financing
for debt reduction, for furthering mine development and re-establishing milling
capabilities, and for working capital.

The Company is severely undercapitalized. As of March 31, 2001, the Company has
a working capital deficit of $8,894,984 and minimal operating cash. With the
exception of the $500,000 in proceeds received in 1996 from issuance of stock,
substantially all of the Company's cash needs have been met by loans from the
Company's officers and directors, and by proceeds from short-term notes.
Management is hopeful that cash needs for 2001 will be met from existing cash
resources and short-term borrowings until significant financing can be secured.

In 2000 and in the first three months of 2001, the Company used cash to meet
general, administrative and property obligations. During the three months ended
March 31, 2000 and 2001, the Company received $45,000 and $0.00, respectively,
in the form of convertible loans. No capital expenditures were made during the
first three months of 2001. General and administrative costs were reduced from
2000 totals primarily because a reduction in officer compensation in 2001.
During the three months ended March 31, 2001 and 2000, interest expenses also
rose from $224,264 to $247,269, a reflection of higher interest rates on certain
recent loans to the Company.

The Company's certificates of deposit, in the amount of $104,265, are held as
mining reclamation bonds and classified as long term assets.

In order for the Company to continue as a going concern and re-start its mining
operations, a significant amount of capital from sources outside the Company
will be required. During 2001, management is continuing its efforts to obtain
financing for the Company's properties through cash investment. No assurance can
be given that the Company will be successful in securing financing.

The Company continues to incur significant interest charges associated with the
outstanding notes payable and debentures. The holders of these instruments have
the right to convert principal and accrued interest to Capital Stock at prices
of $.75 to $1.00 per share. Substantially all holders of the notes payable and
debentures are stockholders of the Company.

                                       8
<PAGE>


The Company intends to use the proceeds from significant financing to meet
existing obligations as needed, to finance a development program, to begin
production from the Diamond-Resurrection Mine and to evaluate other potential
sources of revenue for the Company. The objective of the development program is
to re-start mining operations and to fund an exploration program from mining
revenues in order to identify potential reserves in addition to the more than
800,000 tons already identified at the Diamond-Resurrection Mine. Studies
completed on the Diamond-Resurrection Mine property over the past 12 years
include verification of known mineralization, evaluation of mine development and
surface geo-physical investigations. These studies suggest that the
Diamond-Resurrection property may hold significant deposits of gold, silver and
base metals.

Full production at the Diamond-Resurrection Mine will require a significant
capital expenditure to refurbish and/or acquire surface plant and underground
equipment. Realizing operating revenues from Diamond-Resurrection Mine
production will require that the Company either re-establish milling
capabilities at the Stringtown Mill site, construct a new milling facility or
make other milling arrangements. No significant capital expenditures are
anticipated to be made until such time as the Company secures significant
financing or participation on the Diamond-Resurrection Mine properties.
Management does not anticipate that there will be any significant change in the
number of Company employees, until such time as significant financing can be
obtained.








                                       9
<PAGE>


PART II

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

UNITED STATES (ENVIRONMENTAL PROTECTION AGENCY)

In 1983, the Company was named as one of several defendants in an action (United
States of America vs. Apache Energy and Mineral Company, et al) in Federal
District Court in Colorado under the Comprehensive Environmental Response,
Compensation and Liability Act of 1980 ("CERCLA") in connection with the
approximately 11.5 square mile California Gulch Superfund site in Lake County,
Colorado. In 1986, the Company was also named as a third party defendant in a
suit (State of Colorado vs. Asarco, Inc., et al) involving the same site. The
cases were subsequently consolidated.

From 1983 through 1988, the Company negotiated with the United States to have
its involvement in the consolidated case dismissed or settled on a de minimis
basis. That effort was ultimately unsuccessful. During the years 1989 and
continuing into 1993, the Company attempted to negotiate a settlement of its
alleged liability to the United States. Management believed that financing might
be obtained by the Company if the claims asserted by the United States were
settled and the financial exposure limited.

During August, 1993, a consent decree was entered by the Federal District Court
in Colorado whereby the United States agreed to settle the Company's alleged
liability, with the exception of natural resources damages, if any, in
consideration for $3,000,000. Under the original terms of the consent decree, a
total of $250,000 was to be paid by the Company over 15 years, with a contingent
liability of $2,750,000 to be paid based on profitable operations or sale of
properties. Minimum cash payments are to be $10,000 for years one through five,
$15,000 for years six through ten and $25,000 for years 11 through 15. The
Company has made no payments to the United States pending negotiations with the
EPA concerning the EPA's use of and compensation for soil and rock materials
from the Company's properties.

COWIN & COMPANY, INC.

In 1990, Cowin & Company, Inc., mining engineers and contractors, filed suit
against the Company in Lake County, Colorado District Court asserting that the
Company was obligated to Cowin & Company, Inc. for approximately $35,500 for
contract mining fees and costs. Cowin & Company, Inc. is requesting damages,
equipment possession and general relief relating to a contract mining agreement
entered into March 3, 1987.

The Company counter-claimed for damages resulting from improper construction of
the Diamond Mine shaft and damages resulting from Cowin & Company activities at
the site. Since no action had been taken in the case since October 1993, the
Court ordered a Status Report be filed on the matter by August 30, 1996. The
status report was filed with the Court; however, no action has occurred since
then.

MINING EQUIPMENT, INC.

During January 2000, the Company was named as a defendant involving equipment
under lease that was deemed part of the real property at the mine site by the
courts. The plaintiff's claims included a claim for rent, conversion and unjust
enrichment. The Company intends to vigorously defend the claims in that the
courts have already issued a judgement regarding this lease and the Company is
in compliance with this earlier judgement.

                                       10
<PAGE>



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

(a)  Exhibits filed herewith or incorporated by reference to previous filings
     with the Securities and Exchange Commission.

Exhibit
Number      Description
------      -----------

(2)         Plan of Acquisition, reorganization, arrangement, liquidation or
            succession

(3)         Articles of Incorporation and By-laws

(4)         Instruments defining the rights of security holders, including
            indentures

(9)         Voting Trust Agreement

(10)        Material Contracts

(11)        Statement Regarding Computation of Earning Per Share is not required
            since the information is ascertainable from Leadville's financial
            statements filed herewith.

(13)        Annual Report to security holders, Form 10-Q or quarterly report to
            security holders

(16)        Letter re: change in accounting principles

(19)        Documents not previously filed

(21)        Subsidiaries of the Registrant

(22)        Published report regarding matters submitted to vote of security
            holders

(23)        Consents of experts and counsel

(24)        Power of Attorney

(27)        Financial Data Schedule

(28)        Information from reports furnished to state insurance authorities

(29)        Additional Exhibits
----------

(3)  The Articles of Incorporation of Leadville were filed with its Form 10-K on
     May 6, 1965; the By-laws of Leadville were filed with its Report on Form
     10-K for the year ended December 31, 1980.

(4)  Filed with Form 10-K for year ended December 31, 1987.

(28) Consent Decree, State of Colorado vs. Asarco, Inc., et al, Defendants and
     Third Party Plaintiffs vs. Leadville Corporation, et al, Third Party
     Defendants: United States of America vs. Apache Energy and Minerals
     Company, et al.


(b)  Reports on Form 8-K filed during the Registrant's first quarter of 2001.
     NONE

                                       11
<PAGE>




SIGNATURES
----------


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


LEADVILLE CORPORATION
---------------------
(Registrant)



/s/ JOHN H. GASPER
------------------
John H. Gasper, President





Dated: May 12, 2001
-------------------






                                       12



ARTICLE 5

PERIOD-TYPE                                                             3-MOS
FISCAL-YEAR-END                                                   DEC-31-2001
PERIOD-END                                                     March 31, 2001
CASH                                                                   11,211
SECURITIES                                                                  0
RECEIVABLES                                                                 0
ALLOWANCES                                                                  0
INVENTORY                                                             170,764
CURRENT-ASSETS                                                         16,532
PP&E                                                                9,536,147
DEPRECIATION                                                        3,121,540
TOTAL-ASSETS                                                        6,706,168
CURRENT-LIABILITIES                                                 8,911,516
BONDS                                                                       0
PREFERRED-MANDATORY                                                         0
PREFERRED                                                                   0
COMMON                                                             10,940,288
OTHER-SE                                                            8,693,415
TOTAL-LIABILITY-AND-EQUITY                                          6,706,168
SALES                                                                       0
TOTAL-REVENUES                                                          1,083
CGS                                                                         0
TOTAL-COSTS                                                                 0
OTHER-EXPENSES                                                         91,514
LOSS-PROVISION                                                              0
INTEREST-EXPENSE                                                      224,264
INCOME-PRETAX                                                        (314,649)
INCOME-TAX                                                                  0
INCOME-CONTINUING                                                    (314,649)
DISCONTINUED                                                                0
EXTRAORDINARY                                                               0
CHANGES                                                                     0
NET-INCOME                                                           (314,649)
EPS-BASIC                                                                (.03)
EPS-DILUTED                                                              (.03)