Document:

<PAGE>
                                                                    Exhibit 4.56

                             INTERCREDITOR AGREEMENT

     THIS INTERCREDITOR AGREEMENT (this "Agreement") is made and entered into as
of September 16, 2005, by and between ROYAL BANK OF CANADA, a Canadian chartered
bank, "Royal Bank", and The Rockside Foundation, an Ohio non-profit corporation
("Rockside").

                                    RECITALS

     A. Pine Valley Mining Corporation, a British Columbia company ("PV"), Falls
Mountain Coal Inc., a British Columbia company ("FMC"), Pine Valley Coal Ltd.,
an Alberta company ("PVC") (together, the "Grantors") and Royal Bank (the
"Lender") are parties to that certain Credit Agreement dated for reference
September 8, 2005, (as the same may be amended, extended, renewed, replaced,
restated, or otherwise modified from time to time, the "Royal Bank Credit
Agreement'), pursuant to which Royal Bank agreed to make loans and otherwise
extend credit to or for the account of the Grantors.

     B. In connection with the Royal Bank Credit Agreement, FMC and PVC (called
the "Grantors") entered into General Security Agreements with Royal Bank (the
"Royal Bank Security Documents"), pursuant to which the Grantors granted to
Royal Bank, a security interest in all of the property of the Grantors.

     C. The Grantors and Rockside are parties to that certain Credit Facility
Agreement dated as of November 26, 2004 and amended on December 22, 2004 and
September 16, 2005 (together the "Rockside Credit Agreement"), pursuant to which
Rockside has agreed to make loans and otherwise extend credit to or for the
account of the Grantors.

     D. In connection with the Rockside Credit Agreement, the Grantors entered
into that certain Security Agreement dated as of November 26, 2004 (the
"Rockside Security Document"), pursuant to which the FMC and PVC granted to
Rockside a security interest in all of the property of the Grantors.

     E. Royal Bank and Rockside have entered into a Subordination and
Postponement Agreement dated September 16, 2005, with respect to the
Postponement by Rockside of debt

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<PAGE>
owed to it by the Grantors, and desire to enter into this Agreement to establish
and clarify their respective rights and priorities, including, without
limitation, the priorities of their respective security interests and liens in
certain real and personal property of the FMC and PVC.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration receipt of which is hereby acknowledged by each party
hereto, the parties hereto hereby agree as follows:

                                    AGREEMENT

1.   DEFINITIONS. Terms used in this Agreement that are defined in the BC PPSA
     have the meanings given to them in the PPSA, including, without limitation,
     the following which are capitalized herein: Account, Chattel Paper,
     Document of Title, Equipment, Instrument, Inventory, Proceeds, Securities.
     As used in this Agreement, the following terms have the following meanings:

     "CLAIMS" means the Royal Bank Claims and the Rockside Claims.

     "COLLATERAL" means all tangible and intangible personal property of the
     Grantors, including, without limitation, its Accounts, Chattel Paper,
     Documents of Title, Equipment, Instruments, Inventory, Proceeds, Securities
     and all Proceeds of any thereof.

     "CREDITORS" means Royal Bank and Rockside.

     "ENFORCEMENT ACTION" means, with respect to any Collateral: (i)
     repossessing, selling, leasing or otherwise disposing of all or any part of
     such Collateral, or exercising notification or collection rights with
     respect to all or any portion thereof, or attempting or agreeing to do so;
     (ii) commencing the enforcement with respect to such Collateral of any of
     the default remedies under any of such Creditor's Financing Documents, the
     PPSA or other applicable laws; (iii) appropriating, setting off, or
     applying any part or all of such Collateral in the possession of, or coming
     into the possession of, such Creditor or its agent or bailee, to such
     Creditor's Claim.

     "ENFORCEMENT PERIOD" means, with respect to the Claims of any Creditor, any
     period of time commencing upon the occurrence of any default with respect
     to such Claim that

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     permits such Creditor to take any of the Enforcement Actions, and
     continuing until either (i) the final payment or satisfaction in full of
     such Creditor's Claims, or (ii) the Creditors agree in writing to terminate
     such Enforcement Period.

     "FINANCING DOCUMENTS" means the Royal Bank Financing Documents and the
     Rockside Financing Documents.

     "PPSA" means the Personal Property Security Act, R.S.B.C. 1996, C. 359 and
     any regulations thereunder and any amendments thereto;

     "ROCKSIDE CLAIMS" means all present and future indebtedness and liability,
     absolute or contingent, direct or indirect of the Grantors or any of them
     to Rockside including all claims for principal and interest pursuant to the
     Rockside Credit Agreement (including interest accruing after the
     commencement of a bankruptcy proceeding by or against the Grantors), or for
     reimbursement in connection with amounts paid under letters of credit, or
     for reimbursement of fees, costs or expenses, or otherwise, whether fixed
     or contingent, matured or unmatured, liquidated or unliquidated, arising
     under the Rockside Financing Documents, whether arising under contract, in
     tort or otherwise.

     "ROCKSIDE FINANCING DOCUMENTS" means the Rockside Credit Agreement, the
     Rockside Security Document and all other documents, instruments and
     agreements, whether now or hereafter existing, evidencing, documenting or
     securing the Rockside Claims, as the same may be amended, extended,
     renewed, replaced, restated, or otherwise modified from time to time.

     "ROCKSIDE PRIORITY COLLATERAL" means all Collateral other than the Royal
     Bank Priority Collateral.

     "ROYAL BANK CLAIMS" means all present and future indebtedness and
     liability, absolute or contingent, direct or indirect of the Grantors or
     any of them to Royal Bank including all claims for principal and interest
     pursuant to the Royal Bank Credit Agreement (including interest accruing
     after the commencement of a bankruptcy proceeding by or against the
     Grantors), or for reimbursement of fees, costs or expenses, or otherwise,
     whether fixed or contingent, matured or unmatured, liquidated or
     unliquidated, arising

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     under the Royal Bank Financing Documents, whether arising under contract,
     in tort or otherwise.

     "ROYAL BANK FINANCING DOCUMENTS" means the Royal Bank Credit Agreement, the
     Royal Bank Security Documents and all other documents, instruments and
     agreements, whether now or hereafter existing, evidencing, documenting or
     securing the Royal Bank Claims, as the same may be amended, extended,
     renewed, replaced, restated, or otherwise modified from time to time.

     "ROYAL BANK PRIORITY COLLATERAL" means all right, title or interest of any
     of the Grantors in or to any and all of the following assets and properties
     now owned or at any time hereafter acquired by any of the Grantors or in
     which any of the Grantors now has or at any time in the future may acquire
     any right, title or interest: (i) all Accounts; (ii) all Chattel Paper
     arising from the sale of Inventory; (iii) all Documents existing in
     connection with the sale of Inventory; (iv) all Instruments arising from
     the sale of Inventory; (v) all Inventory including without limitation the
     right to coal licenses and other Intangibles; (vi) all books and records
     pertaining to the assets and properties described in clauses (i) through
     (v); and (vii) to the extent not otherwise included, all Proceeds of any
     and all of the foregoing.

2.   NO THIRD-PARTY BENEFICIARIES. All undertakings, agreements, representations
     and warranties contained in this Agreement are solely for the benefit of
     Rockside and Royal Bank and there are no other parties (including, without
     limitation, the Grantors) who are intended to be benefited in any way by
     this Agreement. The existence of this Agreement shall not commit or
     obligate Rockside or Royal Bank to make loans or extend credit to the
     Grantors.

3.   APPLICATION. The agreements as to the relative priorities of and rights
     under the Royal Bank Claims and the Royal Bank Financing Documents shall
     apply in all events and circumstances regardless of:

     (a)  the timing of the execution, delivery, attachment, perfection,
          registration, filing, crystallization, realization or enforcement of
          the Royal Bank Claims and the

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          Royal Bank Financing Documents or the Rockside Claims and the Rockside
          Financing Documents, or any part thereof, or the filing of any
          financing statement relating thereto;

     (b)  the time that the indebtedness and liabilities secured by the Royal
          Bank Claims or the Rockside Claims is incurred or becomes due (whether
          as stated maturity or otherwise) or the date of any advance or
          advances comprising all or any part of such indebtedness and
          liabilities;

     (c)  any priority granted by any principle of law or any statute,
          including, without limitation the Bank Act (Canada), the PPSA, the
          Land Title Act (British Columbia), the Property Law Act (British
          Columbia) and the Law and Equity Act (British Columbia);

     (d)  the affixation or degree of affixation of any Collateral to any real
          property;

     (e)  the time or order of the creation, granting or execution of the Royal
          Bank Financing Documents and the Rockside Financing Documents, or any
          of them, or the registration thereof of the filing of any financing
          statement or other instruments or documents with respect thereto;

     (f)  the date of default or commencement of any proceedings under, or in
          respect of, any of the Royal Bank Financing Documents or the Royal
          Bank Claims, or any indebtedness or liability secured thereby or any
          of the Rockside Financing Documents or the Rockside Claims, or any
          indebtedness of liability secured thereby or the time that any order
          or judgment in respect thereof is made or entered or the time that any
          execution is obtained or registered in respect thereof or any other
          proceeding is commended or completed in respect thereof;

     (g)  the giving of, or the failure to give, any Notice to North Point or
          the Grantors or to any other person or the time of the giving of any
          such notice;

     (h)  any invalidity, irregularity or unenforceability, in whole or in part,
          of the Royal Bank Financing Documents or the Royal Bank Claims or any
          indebtedness or

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          liability secured thereby or any limitation on the liability of the
          Grantors thereunder or in respect thereof; or

     (i)  any other matter that may be relevant under applicable law or
          otherwise.

4.   SECURITY INTEREST PRIORITIES. The following, as among Creditors, shall be
     the relative priority of the perfected security interests and liens of the
     Creditors in the Collateral:

     (a)  Rockside shall have a first priority security interest in the Rockside
          Priority Collateral to the extent of the Rockside Claims and Royal
          Bank shall have a second priority security interest therein to the
          extent of the Royal Bank Claims subject to the Royal Bank's right to
          realize on its Royal Bank Priority Collateral before Rockside realizes
          on the Rockside Priority Collateral.

     (b)  Royal Bank shall have a first priority security interest in the Royal
          Bank Priority Collateral to the extent of the Royal Bank Claims and
          Rockside shall have a second priority security interest therein to the
          extent of the Rockside Claims.

     For the purposes of the foregoing allocation of priorities, any claim of a
     right of setoff shall be treated in all respects as a security interest,
     and no claimed right of setoff shall be asserted to defeat or diminish the
     rights or priorities provided for herein. The priorities set forth herein
     are solely for the purpose of establishing the relative rights of the
     Creditors and there are no other persons or entities that are intended to
     be benefited in any way by this Agreement.

5.   DISTRIBUTION OF PROCEEDS OF COLLATERAL. During any Enforcement Period, all
     realizations upon Collateral shall be distributed in accordance with the
     following procedure:

     (a)  All realizations upon Royal Bank Priority Collateral shall be applied
          to the Royal Bank Claims. After the Royal Bank Claims are paid or
          otherwise satisfied in full, any remaining realizations upon Royal
          Bank Priority Collateral shall be applied to the Rockside Claims until
          they are paid or otherwise satisfied in full.

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<PAGE>
     (b)  After the Royal Bank Claims are paid or otherwise satisfied in full,
          any realizations upon Rockside Priority Collateral shall be applied to
          the Rockside Claims until they are paid or otherwise satisfied in
          full,

     (c)  After all of the Claims have been paid or otherwise satisfied in full,
          the balance of realizations upon Collateral, if any, shall be paid to
          the Grantors or as otherwise required by applicable law.

6.   ENFORCEMENT ACTIONS. The Creditors agree that:

     (a)  Rockside will not, during any Enforcement Period relating to the
          Rockside Priority Claims, take any Enforcement Action with respect to
          the Rockside Priority Collateral, without first obtaining the prior
          consent of Royal Bank.

     (b)  Royal Bank may, at its option, during any Enforcement Period relating
          to the Royal Bank Claims, take any Enforcement Action it deems
          appropriate with respect to the Royal Bank Priority Collateral,
          without any requirement that it obtain the prior consent of Rockside.

     (c)  Until the Royal Bank Claims have been paid or satisfied in full,
          Rockside shall not take any Enforcement Action against the Royal Bank
          Priority Collateral without first obtaining the prior written consent
          of Royal Bank.

     (d)  Until Rockside Claims have been paid or satisfied in full, Royal Bank
          shall not take any Enforcement Action against Rockside Priority
          Collateral without first obtaining the prior written consent of
          Rockside unless Rockside has not commenced Enforcement Action against
          the Rockside Priority Collateral within a reasonable time after it
          becomes entitled to take Enforcement Action.

     (e)  An event of default under the Rockside Financing Documents shall
          constitute an event of default under the Royal Bank Financing
          Documents and an event of default under the Royal Bank Financing
          Documents shall constitute an event of default under the Rockside
          Financing Documents.

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<PAGE>
7.   WAIVER OF RIGHT TO REQUIRE MARSHALING. Each Creditor hereby expressly
     waives any right that it otherwise might have to require the other Creditor
     to marshal assets or to resort to Collateral in any particular order or
     manner, whether provided for by common law or statute; provided that this
     Section shall not override any specific provision of this Agreement. No
     Creditor shall be required to enforce any guaranty or any security interest
     given by any person or entity other than the Grantors as a condition
     precedent or concurrent to the taking of any Enforcement Action.

8.   EXERCISE OF REMEDIES. Subject only to any express provision of this
     Agreement that requires a Creditor to take or refrain from taking an
     action, each Creditor may exercise its good faith discretion with respect
     to exercising or refraining from exercising any of its rights and remedies
     or taking any Enforcement Action.

9.   NO CONTEST OF SECURITY. Neither of the Creditors will:

     (a)  assert in any action, suit or proceeding whatsoever the invalidity,
          unenforceability or ineffectiveness of this Agreement or any of the
          security held by the other Creditor Party; or

     (b)  participate in or co-operate with any other party to pursue any such
          action, suit or proceeding,

     it being understood and agreed that, regardless of the validity,
     effectiveness or enforceability of any of the security, as between Royal
     Bank and Rockside, the Rockside Claims and the Royal Bank Claims shall rank
     in accordance with the priority provisions contemplated in section 4 above.

10.  NOTICES. In the event that any Creditor shall be required by the PPSA or
     any other applicable law to give any notice to the other Creditor, such
     notice shall be given in accordance with Section 24 hereof and 5 days'
     notice shall be conclusively deemed to be commercially reasonable.

11.  INDEPENDENT CREDIT INVESTIGATIONS. No Creditor nor any of its directors,
     officers, agents or employees shall be responsible to the other Creditor or
     to any other person or entity for

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     the Grantors' solvency, creditworthiness, financial condition or ability to
     repay any of the Claims or for the accuracy of any recitals, statements,
     representations or warranties of the Grantors, oral or written, or for the
     validity, sufficiency, enforceability or perfection of the Claims or the
     Financing Documents, or any security interests or liens granted by the
     Grantors to any Creditor in connection therewith. Each Creditor has entered
     into its respective financing agreements with the Grantors based upon its
     own independent investigation, and makes no warranty or representation to
     the other Creditor, nor does it rely upon any representation of the other
     Creditor with respect to matters identified or referred to in this Section.
     Neither Creditor shall have any responsibility to the other Creditor for
     monitoring or assuring compliance by the Grantors with any of the Grantors'
     covenants or representations made to either Creditor. Without limiting the
     generality of the foregoing, either Creditor may perform in accordance with
     the terms of its Financing Documents (subject to this Agreement) without
     regard to whether the Grantors' performance in accordance with the terms
     thereof might or would constitute or result in a breach of covenants or
     representations under the other Creditor's Financing Documents, and under
     no circumstances shall any Creditor be liable to the other for inducing a
     breach or violation of the other's Financing Documents by virtue of
     performing in accordance with the terms of its own Financing Documents
     (subject to this Agreement).

12.  NONAVOIDABILITY AND PERFECTION OF LIENS. The subordinations and relative
     priorities set forth in this Agreement are expressly conditioned upon the
     non-avoidability and perfection of the security interest to which another
     security interest is subordinated. If the security interest to which
     another security interest is subordinated is not perfected or is voidable
     for any reason, then the subordination provided for herein shall not be
     effective to the extent of such nonperfection or avoidability.

13.  PERFECTION OF POSSESSORY SECURITY INTERESTS. For the limited purpose of
     perfecting the security interests of the Creditors in those types or items
     of Collateral in which a security interest may be perfected by possession,
     each Creditor hereby appoints the other as its agent for the limited
     purpose of possessing on its behalf any such Collateral that may come into
     the possession of such other Creditor from time to time, and each Creditor
     agrees to act as the other's agent for such limited purpose of perfecting
     the other's

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     security interest by possession through an agent; provided that neither
     Creditor shall incur any liability to the other Creditor by virtue of
     acting as the other's agent hereunder, and either Creditor may relinquish
     possession of Collateral in its possession without the consent of the other
     Creditor, and without incurring liability to the other Creditor, unless
     there is an express written agreement to the contrary in effect between the
     Creditors.

14.  AMENDMENTS, MODIFICATIONS AND INCREASES. Each Creditor may enter into
     amendments, extensions, renewals, replacements, restatements or
     modifications of its Financing Documents with the Grantors, or may increase
     or decrease the credit facilities made available by it to the Grantors,
     without in any way affecting the rights and obligations of the Creditors
     under this Agreement. Should either or both Creditors cease extending
     further credit to the Grantors, this Agreement nevertheless shall continue
     in effect as to the outstanding Claims of each Creditor until this
     Agreement is terminated as set forth in Section 13 hereof

15.  TERMINATION. This Agreement is a continuing agreement, and, unless both
     Creditors have specifically consented in writing to its earlier
     termination, this Agreement shall remain in full force and effect in all
     respects until the earlier of (a) such time as the Rockside Claims are paid
     or otherwise satisfied in full, Rockside has no further commitment to
     extend credit facilities to the Grantors, and Rockside has released or
     terminated its security interest in the Rockside Collateral, or (b) such
     time as the Royal Bank Claims are paid or otherwise satisfied in full,
     Royal Bank has no further commitment to extend credit facilities to the
     Grantors, and Royal Bank has released or terminated its security interest
     in the Collateral.

16.  ACCOUNTINGS. Each Creditor agrees, upon the occurrence of any Enforcement
     Action, to provide the other Creditor upon reasonable request periodic
     accountings of the amount of such Creditor's Claims, giving effect to any
     applications of realizations upon Collateral.

17.  EFFECT OF BANKRUPTCY. This Agreement shall be and remain enforceable
     notwithstanding any bankruptcy or other insolvency proceeding by or against
     the Grantors.

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18.  EFFECT OF DISPOSITIONS OF COLLATERAL ON OTHER SECURITY INTERESTS. To the
     extent reasonably requested by either Creditor, the other Creditor will
     cooperate in providing any necessary or appropriate releases to permit a
     collection, sale or other disposition of Collateral by the Creditor holding
     the first priority security interest therein pursuant to Section 4 of this
     Agreement free and clear of the other Creditor's second priority security
     interest security interest.

19.  CONSTRUCTION. Unless the context of this Agreement clearly requires
     otherwise, references to the plural include the singular, the singular
     includes the plural, the part includes the whole, "including" is not
     limiting, and "or" has the inclusive meaning represented by the phrase
     "and/or." The words "hereof," "herein," "hereby," "hereunder," and similar
     terms in this Agreement refer to this Agreement as a whole and not to any
     particular provision of this Agreement. Section references are to this
     Agreement unless otherwise specified.

20.  MODIFICATIONS IN WRITING. No amendment, modification, supplement,
     termination, consent, or waiver of or to any provision of this Agreement
     nor any consent to any departure therefrom shall in any event be effective
     unless the same shall be in writing and signed by or on behalf of each of
     the Creditors. Any waiver of any provision of this Agreement, or any
     consent to any departure from the terms of any provisions of this
     Agreement, shall be effective only in the specific instance and for the
     specific purpose for which given.

21.  WAIVERS; FAILURE OR DELAY. No failure or delay on the part of either
     Creditor in the exercise of any power, right, remedy, or privilege under
     this Agreement shall impair such power, right, remedy, or privilege or
     shall operate as a waiver thereof; nor shall any single or partial exercise
     of any such power, right, or privilege preclude any other or further
     exercise of any other power, right, or privilege. The waiver of any such
     right, power, remedy, or privilege with respect to particular facts and
     circumstances shall not be deemed to be a waiver with respect to other
     facts and circumstances.

22.  GOVERNING LAW. This Agreement shall be governed by and construed in
     accordance with the laws of British Columbia, excluding its conflict of
     laws rules.

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23.  CONSENT TO JURISDICTION. Each party hereto irrevocably submits to the
     nonexclusive jurisdiction of British Columbia, in any action or proceeding
     brought to enforce or otherwise arising out of or relating to this
     Agreement, hereby waives any objection to venue in any such court and any
     claim that such forum is an inconvenient forum and agrees that a final
     judgment in any such action or proceeding shall be conclusive and may be
     enforced in any other jurisdiction by suit on the judgment or in any other
     manner provided by law. Nothing in this Section 23 shall impair the right
     of any party to bring any action or proceeding hereunder in the courts of
     any other jurisdiction.

24.  NOTICES AND COMMUNICATIONS. All notices and other communications provided
     for in this Agreement shall be in writing or (unless otherwise specified)
     and shall be mailed (with first class postage prepaid) or sent or delivered
     to each party by facsimile or courier service at the address or facsimile
     number set forth below, or at such other address as shall be designated by
     such party in a written notice to the other parties.

     If to Rockside:     Rockside, N.A.
                         524 North Avenue, Suite 203
                         New Rochelle, NY 10801-3410
                         Attn: President
                         Facsimile: (914) 632-5502

     If to Royal Bank:   Royal Bank of Canada
                         South Tower
                         Royal Bank Plaza
                         200 Bay Street
                         Toronto, Ontario M5J 2W7
                         Attn: Pine Valley Account Manager
                         Facsimile: (416) 842-4023

     Except as otherwise specified all notices sent by mail, if duly given,
     shall be effective 3 business days after deposit into the mails, all
     notices sent by a nationally recognized courier service, if duly given,
     shall be effective one business day after delivery to such

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<PAGE>
     courier service, and all other notices and communications if duly given or
     made shall be effective upon receipt.

25.  HEADINGS. Section headings used in this Agreement are for convenience of
     reference only and shall not constitute a part of this Agreement for any
     purpose or affect the construction of this Agreement.

26.  EXECUTION IN COUNTERPARTS. This Agreement may be executed in any number of
     counterparts and by different parties on separate counterparts, each of
     which counterparts, when so executed and delivered, shall be deemed to be
     an original and all of which counterparts, taken together, shall constitute
     but one and the same Agreement. This Agreement shall become effective upon
     the execution and delivery of a counterpart hereof by each of the parties
     hereto.

27.  SEVERABILITY OF PROVISIONS. Any provision of this Agreement which is
     illegal, invalid, prohibited, or unenforceable in any jurisdiction shall,
     as to such jurisdiction, be ineffective to the extent of such illegality,
     invalidity, prohibition, or unenforceability without invalidating or
     impairing the remaining provisions hereof or affecting the validity or
     enforceability of such provision in any other jurisdiction.

28.  COMPLETE AGREEMENT. This Agreement is intended by the parties as a final
     expression of their agreement and is intended as a complete statement of
     the terms and conditions of their agreement. This Agreement shall not be
     modified except in a writing signed by the party to be charged, and may not
     be modified by conduct or oral agreements.

29.  SUCCESSORS AND ASSIGNS. This Agreement is binding upon and inures to the
     benefit of the successors and assigns of each Creditor. Each Creditor
     agrees to maintain a copy of this Agreement together with its copies of the
     Financing Documents relating to its Claims. Each Creditor expressly
     reserves its right to transfer or assign its Claims, in whole or in part,
     together with its rights hereunder; provided that, prior to transferring or
     assigning any interest in its Claims to any person or entity, each Creditor
     shall disclose to such person or entity the existence and contents of this
     Agreement, shall provide to such

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     person or entity a complete and legible copy hereof, and shall advise such
     person or entity that such Creditor's security interest in the Collateral
     is subject to the terms hereof.

30.  FEES AND DISBURSEMENTS. In the event of any dispute concerning the meaning
     or interpretation of this Agreement that results in litigation, or in the
     event of any litigation by a party to enforce the provisions hereof, the
     prevailing party shall be entitled to recover from the nonprevailing party
     its reasonable solicitor's fees and disbursements, and any actual court
     costs incurred.

31.  RELEASE OF COLLATERAL. The Creditors agree that either Creditor may release
     or refrain from enforcing its security interest in any Collateral, or
     permit the use or consumption of such Collateral by the Grantors free of
     such Creditor's security interest, without incurring any liability to the
     other Creditor.

32.  REALIZATION OF SECURITY BY CREDITORS. Rockside and the Royal Bank shall use
     reasonable efforts to co-operate in the realization of the Rockside
     Financing Documents and the Royal Bank Financing Documents. Rockside
     acknowledges:

     (a)  the paramountcy of the Royal Bank's rights to collect and realize on
          the Royal Bank Priority Collateral;

     (b)  that the Royal Bank has the right to use the Rockside Priority
          Collateral in whatever way the Royal Bank deems necessary to enable
          the Royal Bank to most efficiently liquidate the Royal Bank Priority
          Collateral for such collection and realization; and

     (c)  and agrees that Rockside will not jeopardize, impair or interfere with
          such collection and realization.

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<PAGE>
     IN WITNESS WHEREOF, the Creditors have caused this Agreement to be executed
by their respective officers or agents thereunto duly authorized as of the date
first above written.

     ROYAL BANK:                        ROYAL BANK OF CANADA, a Canadian
                                        chartered bank

                                        By /s/ T. Vanderlaan
                                           -------------------------------------
                                        Its Senior Manager, Underwriting

                                        By
                                           -------------------------------------
                                        Its Senior Manager, Portfolio

     THE ROCKSIDE FOUNDATION:           THE ROCKSIDE FOUNDATION, N.A.,
                                        an Ohio non-profit corporation

                                        By /s/ Michael A. Coan
                                           -------------------------------------
                                        Its Secretary

                                       15
<PAGE>
                                CONSENT OF DEBTOR

     The undersigned ("the Grantors"), hereby acknowledge receipt of a copy of
the foregoing Intercreditor Agreement (the "Intercreditor Agreement"; all
capitalized terms used and not otherwise defined herein shall have the
respective meanings given to them in the Intercreditor Agreement) and consents
to the terms thereof. The Grantors acknowledge and agree that any payments or
other amounts received by a Creditor which are required to be turned over or
otherwise remitted by such Creditor to the other Creditor pursuant to the terms
of the Intercreditor Agreement shall not be deemed to be payments on the Claims
of the Creditor who is required to turn over or otherwise remit such payments or
other amounts to the other Creditor.

     Executed this 16 day of September, 2005.

     PINE VALLEY MINING:                PINE VALLEY MINING CORPORATION,
     CORPORATION                        a British Columbia corporation

                                        By /s/ Martin Rip
                                           -------------------------------------
                                        Its VP Finance and CFO

                                        By
                                           -------------------------------------
                                        Its
                                            ------------------------------------

     FALLS MOUNTAIN COAL INC.:          FALLS MOUNTAIN COAL INC.,
                                        a British Columbia corporation

                                        By /s/ Martin Rip
                                           -------------------------------------
                                        Its Secretary

                                       16
<PAGE>
                                        By
                                          --------------------------------------
                                        Its
                                           -------------------------------------

     PINE VALLEY COAL LTD.:             PINE VALLEY COAL LTD.,
                                        an Alberta corporation

                                        By /s/ Martin Rip
                                           -------------------------------------
                                        Its Authorized Officer

                                        By
                                           -------------------------------------
                                        Its
                                            ------------------------------------

                                       17<PAGE>
                                                                   EXHIBIT 4.57

                                                            E-FORM 812 (2002/03)

                       GUARANTEE AND POSTPONEMENT OF CLAIM         RETENTION - M

TO: ROYAL BANK OF CANADA

FOR VALUABLE CONSIDERATION, receipt whereof is hereby acknowledged, the
undersigned and each of them (if more than one) hereby jointly and severally
guarantee(s) payment on demand to Royal Bank of Canada (hereinafter called the
"Bank") of all debts and liabilities, present or future, direct or indirect,
absolute or contingent, matured or not, at any time owing by PINE VALLEY MINING
CORPORATION (hereinafter called the "Customer") to the Bank or remaining unpaid
by the Customer to the Bank, heretofore or hereafter incurred or arising and
whether incurred by or arising from agreement or dealings between the Bank and
the Customer or by or from any agreement or dealings with any third party by
which the Bank may be or become in any manner whatsoever a creditor of the
Customer or however otherwise incurred or arising anywhere within or outside the
country where this guarantee is executed and whether the Customer be bound alone
or with another or others and whether as principal or surety (such debts and
liabilities being hereinafter called the "liabilities"); the liability of the
undersigned hereunder is unlimited.

AND THE UNDERSIGNED AND EACH OF THEM (IF MORE THAN ONE) HEREBY JOINTLY AND
SEVERALLY AGREE(S) WITH THE BANK AS FOLLOWS:

(1) The Bank may grant time, renewals, extensions, indulgences, releases and
discharges to, take securities (which word as used herein includes securities
taken by the Bank from the Customer and others, monies which the Customer has on
deposit with the Bank, other assets of the Customer held by the Bank in
safekeeping or otherwise, and other guarantees) from and give the same and any
or all existing securities up to, abstain from taking securities from or
perfecting securities of, cease or refrain from giving credit or making loans or
advances to, or change any term or condition applicable to the liabilities,
including without limitation, the rate of interest or maturity date, if any, or
introduce new terms and conditions with regard to the liabilities, or accept
compositions from and otherwise deal with, the Customer and others and with all
securities as the Bank may see fit, and may apply all moneys at any time
received from the Customer or others or from securities upon such part of the
liabilities as the Bank deems best and change any such application in whole or
in part from time to time as the Bank may see fit, the whole without in any way
limiting or lessening the liability of the undersigned under this guarantee, and
no loss of or in respect of any securities received by the Bank from the
Customer or others, whether occasioned by the fault of the Bank or otherwise,
shall in any way limit or lessen the liability of the undersigned under this
guarantee.

(2) This guarantee shall be a continuing guarantee and shall cover all the
liabilities, and it shall apply to and secure any ultimate balance due or
remaining unpaid to the Bank.

(3) The Bank shall not be bound to exhaust its recourse against the Customer or
others or any securities it may at any time hold before being entitled to
payment from the undersigned of the liabilities. The undersigned renounce(s) to
all benefits of discussion and division.
<PAGE>
(4) The undersigned or any of them may, by notice in writing delivered to the
Manager of the branch or agency of the Bank receiving this instrument, with
effect from and after the date that is 30 days following the date of receipt by
the Bank of such notice, determine their or his/her liability under this
guarantee in respect of liabilities thereafter incurred or arising but not in
respect of any liabilities theretofore incurred or arising even though not then
matured, provided, however, that notwithstanding receipt of any such notice the
Bank may fulfil any requirements of the Customer based on agreements express or
implied made prior to the receipt of such notice and any resulting liabilities
shall be covered by this guarantee; and provided further that in the event of
the determination of this guarantee as to one or more of the undersigned it
shall remain a continuing guarantee as to the other or others of the
undersigned.

(5) All indebtedness and liability, present and future, of the Customer to the
undersigned or any of them are hereby assigned to the Bank and postponed to the
liabilities, and all moneys received by the undersigned or any of them in
respect thereof shall be received in trust for the Bank and forthwith upon
receipt shall be paid over to the Bank, the whole without in any way limiting or
lessening the liability of the undersigned under the foregoing guarantee; and
this assignment and postponement is independent of the said guarantee and shall
remain in full effect notwithstanding that the liability of the undersigned or
any of them under the said guarantee may be extinct. The term "Liabilities" as
previously defined, for purposes of the postponement feature provided by this
agreement, and this section in particular, includes any funds advanced or held
at the disposal of the Customer under any line(s) of credit.

(6) This guarantee and agreement shall not be affected by the death or loss of
diminution of capacity of the undersigned or any of them or by any change in the
name of the Customer or in the membership of the Customer's firm through the
death or retirement of one or more partners or the introduction of one or more
other partners or otherwise, or by the acquisition of the Customer's business by
a corporation, or by any change whatsoever in the objects, capital structure or
constitution of the Customer, or by the Customer's business being amalgamated
with a Corporation, but shall notwithstanding the happening of any such event
continue to apply to all the liabilities whether theretofore or thereafter
incurred or arising and in this instrument the word "Customer" shall include
every such firm and corporation.

(7) This guarantee shall not be considered as wholly or partially satisfied by
the payment or liquidation at any time or times of any sum or sums of money for
the time being due or remaining unpaid to the Bank, and all dividends,
composition, proceeds of security valued and payments received by the Bank from
the Customer or from others or from estates shall be regarded for all purposes
as payments in gross without any right on the part of the undersigned to claim
in reduction of the liability under this guarantee the benefit of any such
dividends, compositions, proceeds or payments or any securities held by the Bank
or proceeds thereof, and the undersigned shall have no right to be subrogated in
any rights of the Bank until the Bank shall have received payment in full of the
liabilities.

(8) All monies, advances, renewals, credits and credit facilities in fact
borrowed or obtained from the Bank shall be deemed to form part of the
liabilities, notwithstanding any lack or limitation of status or of power,
incapacity or disability of the Customer or of the directors, partners or agents
of the Customer, or that the Customer may not be a legal or suable entity, or
any irregularity, defect or informality in the borrowing or obtaining of such
monies, advances,

                                        2
<PAGE>
renewals, credits or credit facilities, or any other reason, similar or not, the
whole whether known to the Bank or not. Any sum which may not be recoverable
from the undersigned on the footing of a guarantee, whether for the reasons set
out in the previous sentence, or for any other reason, similar or not, shall be
recoverable from the undersigned and each of them as sole or principal debtor in
respect of that sum, and shall be paid to the Bank on demand with interest and
accessories.

(9) This guarantee is in addition to and not in substitution for any other
guarantee, by whomsoever given, at any time held by the Bank, and any present or
future obligation to the Bank incurred or arising otherwise than under a
guarantee, of the undersigned or of any of them or of any other obligant,
whether bound with or apart from the Customer; excepting any guarantee
surrendered for cancellation on delivery of this instrument.

(10) The undersigned and each of them shall be bound by any account settled
between the Bank and the Customer, and if no such account has been so settled
immediately before demand for payment under this guarantee any account stated by
the Bank shall be accepted by the undersigned and each of them as conclusive
evidence of the amount which at the date of the account so stated is due by the
Customer to the Bank or remains unpaid by the Customer to the Bank.

(11) This guarantee and agreement shall be operative and binding upon every
signatory thereof notwithstanding the non-execution thereof by any other
proposed signatory or signatories, and possession of this instrument by the Bank
shall be conclusive evidence against the undersigned and each of them that this
instrument was not delivered in escrow or pursuant to any agreement that it
should not be effective until any conditions precedent or subsequent had been
complied with, unless at the time of receipt of this instrument by the Bank each
signatory thereof obtains from the Manager of the branch or agency of the Bank
receiving this instrument a letter setting out the terms and conditions under
which this instrument was delivered and the conditions, if any, to be observed
before it becomes effective.

(12) No suit based on this guarantee shall be instituted until demand for
payment has been made, and demand for payment shall be deemed to have been
effectually made upon any guarantor if and when an envelope containing such
demand, addressed to such guarantor at the address of such guarantor last known
to the Bank, is posted, postage prepaid, in the post office, and in the event of
the death of any guarantor demand for payment addressed to any of such
guarantor's heirs, executors, administrators or legal representatives at the
address of the addressee last known to the Bank and posted as aforesaid shall be
deemed to have been effectually made upon all of them. Moreover, when demand for
payment has been made, the undersigned shall also be liable to the Bank for all
legal costs (on a solicitor and own client basis) incurred by or on behalf of
the Bank resulting from any action instituted on the basis of this guarantee.
All payments hereunder shall be made to the Bank at a branch or agency of the
Bank.

(13) This instrument covers all agreements between the parties hereto relative
to this guarantee and assignment and postponement, and none of the parties shall
be bound by any representation or promise made by any person relative thereto
which is not embodied herein.

                                        3
<PAGE>
(14) This guarantee and agreement shall extend to and enure to the benefit of
the Bank and its successors and assigns, and every reference herein to the
undersigned or to each of them or to any of them, is a reference to and shall be
construed as including the undersigned and the heirs, executors, administrators,
legal representatives, successors and assigns of the undersigned or of each of
them or any of them, as the case may be, to and upon all of whom this guarantee
and agreement shall extend and be binding.

(15) Prime Interest Rate is the annual rate of interest announced from time to
time by the Bank as a reference rate then in effect for determining interest
rates on Canadian dollar commercial loans in Canada.

(16) This Guarantee and Postponement of claim shall be governed by and construed
in accordance with the laws of British Columbia ("Jurisdiction"). The
undersigned irrevocably submits to the jurisdiction of the courts of the
Jurisdiction in any action or proceeding arising out of or relating to this
Guarantee and Postponement of Claim, and irrevocably agrees that all such
actions and proceedings may be heard and determined in such courts, and
irrevocably waives, to the fullest extent possible, the defence of an
inconvenient forum or lack of jurisdiction. The undersigned agrees that a
judgment or order in any such action or proceeding may be enforced in other
jurisdictions in any manner provided by law. Provided, however, that the Bank
may serve legal process in any manner permitted by law or may bring an action or
proceeding against the undersigned or the property or assets of the undersigned
in the courts of any other jurisdiction.

(17) The Undersigned hereby acknowledges receipt of a copy of this agreement.

(18) The Undersigned hereby waives undersigned's right to receive a copy of any
Financing Statement or Financing Change Statement registered by the Bank.

GIVEN UNDER SEAL at Vancouver, BC, this 16th day of September, 2005.

SIGNED, SEALED AND DELIVERED            Globaltex Gold Mining Corp.
IN THE PRESENCE OF                      Per:

/s/ Gord Baizley                        /s/ Martin Rip
-------------------------------------   ----------------------------------------
Witness                                 Name: Martin Rip
                                        Title: Secretary

                                        4
<PAGE>
POSTPONEMENT AND ASSIGNMENT OF CLAIM                             FORM 918 (4-95)

ROYAL BANK OF CANADA

FOR VALUABLE CONSIDERATION, receipt whereof is hereby acknowledged, all debts
and liabilities, present and future (the "Liabilities"), of PINE VALLEY MINING
CORPORATION (hereinafter called the "Borrower") to the Undersigned, or any of
them, are hereby deferred and postponed by the Undersigned, and each of them, to
the debts, liabilities and advances, present and future (the "Obligations"), of
the Borrower to the Royal Bank of Canada (the "Bank") and it is agreed by the
Undersigned, and each of them, that until all Obligations of the Borrower to the
Bank have been paid, no payment shall be made or received on account of any
Liabilities of the Borrower to the Undersigned, or any of them, and that any
payments which may be received by the Undersigned, or any of them, from the
Borrower (or from any third party on account of or otherwise for the benefit of
the Borrower) notwithstanding the foregoing shall be received in trust for the
Bank and shall be paid over to the Bank forthwith upon receipt but no such
payment shall have the effect of reducing the Obligations of the Borrower to the
Bank until the same is actually received by the Bank; and none of the
Liabilities of the Borrower to the Undersigned, or any of them, shall be
released, transferred or charged in any manner whatsoever or allowed or
permitted to become unenforceable through lapse of time, and the Bank may, but
shall not be bound to, claim and prove in respect of any or all Liabilities of
the Borrower to the Undersigned, or any of them, in any bankruptcy, insolvency,
composition, scheme of arrangement, liquidation or winding-up, voluntary or
involuntary, affecting the Borrower or any distribution of assets of the
Borrower among creditors of the Borrower, and all of the Liabilities of the
Borrower to the Undersigned, or any of them, are hereby assigned and transferred
to the Bank and all dividends or other sums which may be or become payable in
respect thereof shall be due and be paid to the Bank until the Bank shall have
received, together with dividends on the Obligations of the Borrower to the
Bank, the full amount of the said Obligations; and the Undersigned, and each of
them, will from time to time execute all such statements, proofs of claims,
transfers, assignments and documents and do all such other acts and things as
the Bank may request from time to time to implement any and all of the
foregoing.

     IT IS AGREED by the Parties hereto that the Borrower will pay all costs,
charges and expenses reasonably incurred by the Bank whether directly or for
services rendered (including reasonable solicitors' and auditors' costs,
registration costs and other legal expenses), in operating the Borrower's
accounts, in preparing or enforcing this Agreement, and all such costs, charges
and expenses.

     IT IS AGREED by the Parties hereto that the Obligations of the Borrower to
the Bank, whenever referred to herein, shall include any and all funds advanced
or held at the disposal of the Borrower under any line(s) of credit.

     THIS AGREEMENT shall extend to and enure to the benefit of the Bank and its
successors and assigns and shall be binding upon the Undersigned and the heirs,
executors, administrators, legal representatives, successors and assigns of the
Undersigned, and each of them.

     The Undersigned hereby acknowledges receipt of a copy of this agreement.

                                        5
<PAGE>
     The Undersigned has (have) expressly requested that this document be drawn
up in the English language. Le(s) soussigne(s) a(ont) expressement demande que
ce document soit redige en langue anglaise,

     The Undersigned hereby waives Undersigned's right to receive a copy of any
financing statement or financing change statement registered by the Bank, or off
any verification statement with respect to any financing statement registered by
the Bank.

Given under seal at Vancouver, BC this September 16, 2005

In the presence of                      Gloabaltex Gold Mining Corp.

/s/ Gord Baizley                        /s/ Martin Rip
-------------------------------------   ----------------------------------------
                                        Name and Title: Martin Rip, Secretary

     The "Borrower" named above hereby acknowledges receipt of a copy of the
foregoing Agreement, accepts the assignment and transfer contained herein and
further agrees with the Bank to give effect to all of the provisions of the
foregoing Agreement.

     Given under seal at Vancouver, BC this September 16, 2005

In the presence of                      Pine Valley Mining Corporation

/s/ Gord Baizley                        /s/ Martin Rip
-------------------------------------   ----------------------------------------
                                        Name and Title: Martin Rip,
                                                        VP Finance/CFO

BRANCH ADDRESS: Royal Bank Asset Based Finance, a division of Royal Bank of
Canada, Royal Centre Branch, 1025 West Georgia Street, Vancouver, British
Columbia

Insert the full, true and correct legal name and address of Debtor (Undersigned
above) and, for individuals, birth date of Debtor.

<TABLE>
<CAPTION>
                                               DATE OF BIRTH
                                               -------------
FULL NAME AND ADDRESS                          YR   MO   DAY
---------------------                          --   --   ---
<S>                                            <C>  <C>  <C>
Globaltex Gold Mining Corp., 501-535 Thurlow
Street, Vancouver, B.C. V6E 3L2
</TABLE>

                                        6

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