Exhibit 10.24 TREND MINING COMPANY 1519 Main Street #169 Hilton Head, SC 29926 Telephone (843) 682-2023 * Facsimile (843) 682-2024 October 1, 2002 Mr. Thomas Kaplan New York, NY Dear Mr. Kaplan: By mutual agreement of the parties it is hereby...

                                                                   Exhibit 10.24

                              TREND MINING COMPANY
                              0000 Xxxx Xxxxxx #000
                              Xxxxxx Xxxx, XX 00000
               Telephone (000) 000-0000 * Facsimile (000) 000-0000




October 1, 0000

Xx. Xxxxxx Xxxxxx
Xxx Xxxx, XX

Dear Xx. Xxxxxx:

         By mutual agreement of the parties it is hereby acknowledged that the
single outstanding preferred share held in your name is hereby cancelled
effective on the date first written above. It is also agreed that all rights,
duties and obligations of either party related to such share being issued and
outstanding shall also terminate and be of no further effect as of the same
date.

On Behalf of the Company,



/s/ Xxxx X. Xxxx
Xxxx X. Xxxx
Chief Financial Officer
Trend Mining Company


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Agreed and Accepted,



/s/ Xxxxxx Xxxxxx
Xxxxxx Xxxxxx