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                                                                    EXHIBIT 10.5

                                 ELECTRUM L.L.C.
                                CALEDONIAN HOUSE
                              GRAND CAYMAN ISLANDS
                               BRITISH WEST INDIES

November 17, 2000

Trend Mining Inc.
401 Front Avenue
Suite I
Coeur D'Alene, Idaho 83814

Dear Sirs:

This will confirm that:

     (a)  prior to the date hereof, we have lent $35,000 to you, and, upon your
          request, propose to lend to you an additional $100,000, and wire such
          amount to the Bank of New York, ABA No. 021-000-18, for credit to
          PaineWebber, Inc., Account No. 8900114096, for subcredit to Account
          No. TS-44906, to permit you to make the payment in such amount called
          for by Section 2(a)(i) of the Consulting Agreement, dated as of
          November 17, 2000, between you and RH Barsom Company, Inc. (such
          $35,000 and $100,000 being hereinafter referred to as the
          "Indebtedness");

     (b)  you shall repay the Indebtedness to us, with annual interest thereon
          of 5% from the date the Indebtedness was incurred, upon the earlier to
          occur of (a) the closing of any transaction pursuant to which you
          receive private or public financing, either in the form of equity or
          debt and (b) December 1, 2005; and

     (c)  the provisions of this letter shall be governed by the internal laws
          of the State of New York, and may not be amended or waived except with
          our express written consent.

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Please confirm that the foregoing represents our understanding on the enclosed
copy of this letter and return it to us.

                                       ELECTRUM L.L.C.

                                       By:      /s/ Thomas Kaplan
                                          -------------------------------------
                                                Name:  Thomas Kaplan
                                                Title: Director

ACKNOWLEDGED:

TREND MINING INC.

By:      /s/ Kurt Hoffman
     ---------------------------------------
         Name:  Kurt Hoffman
         Title: President

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                                                                    EXHIBIT 10.6

                              TREND MINING COMPANY
                                401 FRONT AVENUE
                                     SUITE 1
                           COEUR D'ALENE, IDAHO 83814

                                                                December 6, 2000

Electrum LLC
Caledonian House
Grand Cayman
Cayman Islands
British West Indies

Re:      Loan Facility

Dear Sirs:

Electrum has indicated that it is prepared to fund the loan facility to Trend
subject to the following terms, which terms have been, or will be, offered to
those other significant shareholders and members of management who are
signatories to the side letter agreement accompanying this letter agreement and
forming a part hereof:

1)       In addition to loans totaling ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS
         ($135,000) previously made by Electrum to Trend (the "NOVEMBER LOAN
         AMOUNT") and documented in the letter agreement between us dated
         November 17, 2000 (the "NOVEMBER 17TH AGREEMENT"), Electrum hereby
         agrees to provide to Trend a loan facility in the aggregate amount of
         up to an additional TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) (the
         "LOAN FACILITY"). The Loan Facility may be called by Trend, in
         increments of $50,000 (or more with the consent of Electrum), at any
         time prior to February 1, 2001 (a "CALL NOTICE") upon not less than
         five (5) business days' prior written notice addressed by facsimile
         transmission to Electrum at (a) c/o William Natbony, 212-940-7079, and
         (b) c/o Balan Murugesu, 345-949-8062, in both cases with receipt
         confirmed by fax reply to the fax number specified by Trend in the
         notice. A Call Notice will

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         be ineffective unless it complies with the provisions of this
         paragraph 1 and with the conditions described in paragraph 2.

2)       Trend hereby agrees to use the Loan Facility for the sole and exclusive
         purpose of satisfying its operating costs. Trend agrees to provide
         Electrum with advance notice of all uses (the "USES") to which monies
         obtained from the Loan Facility (the "MONIES") will be used and agrees
         that Electrum may refuse to fund the Monies if it determines that the
         Uses are inappropriate. Trend agrees to use the Monies only for the
         Uses agreed to by Electrum. If Trend uses the Monies for a Use to which
         Electrum has not agreed, the amount owed by Trend hereunder plus
         THIRTY-FIVE THOUSAND DOLLARS ($35,000) of the amount owed under the
         November 17th Agreement plus all accrued interest thereon will become
         immediately due and payable upon demand from Electrum.

3)       Trend, for value received, hereby unconditionally promises to pay to
         Electrum in U.S. dollars and immediately available funds the entire
         outstanding principal amount of the Monies on or before the earlier of
         (a) June 30, 2001 or (b) completion of a private placement of any
         portion of the shares of Trend that is the subject of the Offering
         Memorandum dated December 2000, a copy of which previously was
         forwarded to Electrum, from the first monies received by Trend
         therefrom (the "LOAN REPAYMENT DATE"). Trend represents and warrants
         that it will use its best efforts to ensure that the private placement
         will be completed prior to February 1, 2001 (the "PROPOSED CLOSING
         DATE"). Trend further promises to pay interest on such outstanding
         principal amount at a rate equal to EIGHT PER CENT (8%) per annum,
         payable semi-annually in arrears. All computations of interest shall be
         based on a 365-day year and actual days elapsed. (The Monies plus the
         interest provided for in this paragraph 3 are sometimes referred to
         herein as the

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         "LOAN AMOUNT"; the Loan Amount plus the November Loan Amount and
         interest thereon is sometimes referred to herein as the "TOTAL LOAN
         AMOUNT.")

4)       Should the Total Loan Amount not be repaid prior to the Proposed
         Closing Date, Trend, for value received, hereby agrees to grant to
         Electrum (and/or its assignee(s)) on February 1, 2001 warrants to
         purchase 285,000 shares of Trend Common Stock (equal in number to the
         sum of $35,000 plus the Loan Facility) at any time from the date
         thereof through and including September 30, 2003 at a price per share
         of $1.50.

5)       Notwithstanding Trend's unconditional obligation to pay the Total Loan
         Amount when due, instead of receiving repayment of the Total Loan
         Amount in U.S. dollars, Electrum may elect in a notice sent to Trend on
         or before the Loan Repayment Date to require Trend to issue to Electrum
         one "unit" of Trend securities at a value of $1.25 per "unit" for each
         dollar of the Total Loan Amount (inclusive of interest thereon) due on
         the Loan Repayment Date. Each "unit" will consist of one (1) share of
         Trend Common Stock and one (1) warrant to acquire Trend Common Stock at
         a purchase price of $1.50 per share exercisable by Electrum (and/or its
         assignee(s)) at any time on or before September 30, 2003. Electrum may
         make the election described in this paragraph 5 with respect to all or
         any part of the Total Loan Amount.

6)       Trend hereby agrees that Electrum at any time on or before December 31,
         2003 may request that Trend use its best efforts to cause the shares,
         the warrants and the shares of Common Stock receivable upon exercise of
         the warrants described in paragraphs 4 and 5 to be registered under the
         Securities Act of 1933 and the "Blue Sky" laws of such jurisdictions as
         are requested by Electrum.

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7)       In consideration of Electrum's providing the Loan Facility and being
         repaid out of the first anticipated proceeds from future offerings of
         Trend stock, each of Kurt J. Hoffman, Blaze Julum, John Ryan and Howard
         Crosby have executed or will execute the form of side letter agreement
         attached hereto, which side letter agreements are a necessary
         co-requisite to Electrum's agreement hereunder.

8)       The provisions of this letter agreement, and the rights and obligations
         of the parties hereunder shall be governed by, and construed and
         interpreted in accordance with the laws of the State of New York
         without reference to conflicts or choice of law provisions thereof, and
         may not be amended or waived without the express written consent of
         Electrum.

9)       Trend hereby agrees that all costs for obtaining this Loan Facility,
         including for the preparation of this letter agreement and the side
         letter agreements and the legal costs thereof, shall be borne entirely
         by Trend.

10)      This letter agreement may be signed in counterparts, each of which
         shall be deemed an original but all of which together shall constitute
         one and the same instrument.

                                            Sincerely,

                                            By:      /s/ Kurt Hoffman
                                                 ------------------------------
                                            Name:  Kurt J. Hoffman
                                            Title:  President

                                            ELECTRUM LLC

                                            By:      /s/ Thomas Kaplan
                                                 ------------------------------
                                            Name:  Thomas Kaplan
                                            Title:  Director

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      [LETTERHEAD OF EACH INDIVIDUAL: HOFFMAN, JULUM, RYAN AND CROSBY]

                                                               December 6, 2000

Electrum LLC
Caledonian House
Grand Cayman Islands
British West Indies

Re:      Loan Facility pursuant to Letter Agreement between Trend Mining
         Company and Electrum LLC dated December 6, 2000

Dear Sirs:

This side letter agreement is to be read together with, is given in
consideration of, and forms part of the letter agreement between Trend Mining
Company and Electrum LLC dated December 6, 2000 (the "LETTER AGREEMENT").
Capitalized terms used in this side letter agreement shall have the meanings
ascribed to them in the Letter Agreement.

In consideration of Electrum's providing the Loan Facility described in the
Letter Agreement, I hereby agree, individually and on behalf of each entity
controlled by me as well as any entity in which I hold a beneficial interest and
which holds a direct or indirect shareholder interest in Trend, that neither I
nor any such entity shall, without the prior express written consent of
Electrum, (i) sell, give, assign, hypothecate, pledge, encumber, offer, pledge,
contract to sell, sell any option or contract to purchase, purchase any option
or contract to sell, grant any option, right, or warrant to purchase, lend,
grant a security interest in or otherwise dispose of (whether by operation of
law or otherwise) or otherwise transfer (each a "TRANSFER") any Trend Shares
("SHARES," as further defined below) or any right, title, or interest therein or
thereto or (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of

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any Shares (whether any such transaction described in clause (i) or (ii) above
is to be settled by delivery of any Shares or other securities, in cash or
otherwise) earlier than the date on which the Loan Amount is repaid in full. Any
attempt to transfer any Shares or any rights thereunder in violation of this
paragraph shall be null and void AB INITIO and I hereby authorize Trend to not
give effect to any such attempt. As used in this paragraph, Shares shall mean
all shares, whether held directly or indirectly, whether now owned or hereafter
acquired, of Common Stock and any options or warrants to acquire Common Stock.

The provisions of this side letter agreement, and the rights and obligations of
the parties hereunder, shall be governed by, and construed and interpreted in
accordance with the laws of the State of New York without reference to conflicts
or choice of law provisions thereof, and may not be amended or waived without
the express written consent of Electrum.

This side letter agreement may be signed in counterparts, each of which shall be
deemed an original but all of which together shall constitute one and the same
instrument.

                                           Sincerely,

                                           -------------------------------
                                           Name:

AGREED AND ACCEPTED TO:
ELECTRUM LLC

By:
   ----------------------------
         Name:  Thomas Kaplan
         Title:  Director

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