Mother Lode Gold Mines Consolidated – ‘10QSB’ for 9/30/00

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Quarterly Report — Small Business   —   Form 10-QSB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10QSB       Quarterly Report -- Small Business                    12±    51K 

Document Table of Contents

UNITED STATES                                                                   
SECURITIES AND EXCHANGE COMMISSION                                              
Washington, D.C. 20549                                                          

FORM 10-QSB                                                                     
(Mark One)                                                                      
X  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 
1934 (FEE REQUIRED)                                                             

For The Quarter Ended: September 30, 2000                                       

_ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934.    
(NO FEE                                                                         
REQUIRED)                                                                       
For the Transition Period from ______________ to _______________.               

Commission File Number: 0-16468                                                 

MOTHER LODE GOLD MINES CONSOLIDATED                                             
(Exact name of Company as specified in its charter)                             

           CALIFORNIA                                                 94-2236016
(State or other jurisdiction of (I.R.S. Employer                                
incorporation or organization)  Identification Number)                          

6601 Koll Center Parkway, Suite 132                               
Pleasanton, CA  94566-3126                                      
(Address of principal executive offices)                              (Zip Code)

Company's telephone number, including area code:        (925) 461-4553          

SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:     None            

SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: Common Stock,       
No Par Value                                                                    

Documents incorporated by reference: Not Applicable                             

Indicate by check mark whether the Company (l) has filed all reports required   
to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the     
preceding 12 months (or for such shorter period that the Company was required   
to file such reports), and (2) has been subject to such filing requirements     
for the past 90 days.                       Yes  X                       No     

State the number of shares outstanding of each of the issuer's classes of       
common equity, as of the latest practicable date.                               

                                Class                                Outstanding

                        Common Stock,                                  4,134,995
                        without par value               as of September 30, 2000

                                                                 Total Pages: 12
                                                       Exhibit Index on Page: 10

PART I - FINANCIAL INFORMATION                                  

Item 1. Financial information required by Item 310(b) of Regulation S-B and by  
Rule 10.01 of Regulation SX, for the Company's fiscal quarter ended September   
30, 2000. The Company has prepared this information without independent audit.  

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
(A Development Stage Company)                                                   
CONSOLIDATED FINANCIAL STATEMENTS                                               
SEPTEMBER 30, 2000                                                              

TABLE OF CONTENTS                                                               

Consolidated Balance Sheets as of September 30, 2000 and December 31, 1999     3

Consolidated Statement of Operations for the 6-month and 320 month period       
ending September 30, 2000.      4                                               

Consolidated Statement of Cash Flows for the 6-month and 320 month period       
endingSeptember 30, 2000        5                                               

Consolidated Statements of Stockholder's Equity from inception on               
February 8, 1974 to September 30, 2000. 6                                       

Notes to Consolidated Statements                                               7

(The balance of this page is intentionally left blank)                          

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
(A Development Stage Company)                                                   
BALANCE SHEETS                                                                  
(1990 through 2000 Unaudited)                                                   
ASSETS                                                                          

September 30    December 31                                     
2000    1999                                                    
(Unaudited)     (Unaudited)                                     

Current Assets                                                                  
Cash    $46     $2,061                                          
Prepaid expenses        0       0                               
Total current assets    46      2,061                           

Other Assets                                                                    
Property rights 618,332 618,332                                 
Note receivable from                                            
Amador United Gold Mines        48,686  46,512                  
Deposits        1,969   1,969                                   
Total other assets      668,987 666,813                         
$669,032        $668,874                        

LIABILITIES AND SHAREHOLDERS EQUITY                                             

Current Liabilities                                                             
Accounts payable        $13,791 $28,909                         
California income tax   12,607  12,532                          
Total current liabilities       26,323  41,441                                  

Non-current liabilities                                                         
Notes payable   375,973 341,015                                 
Deferred fees payable   175,627 175,627                         
Deferred officer's salary       195     213                     
Total non-current liabilities   551,795 516,855                                 

Minority interest in equity of subsidiaries     238,707 238,679                 

Stockholder's equity                                                            
Common stock, without par value,                                
Authorized, 7,500,000 shares:                                   
Issued and outstanding, September 30                            
2000:   4,134,995                                               
1999:   4,074,431               5,425,765       5,261,108       
Paid-in capital representing rights to                                          
acquire a maximum of 1,399,341 shares                                           
(See Note 3)    1,185,803       1,438,715                                       
Deficit accumulated during development stage    (6,759,436)     (6,827,924)     
Net stockholder's equity        (147,868)       (128,101)                       
$669,032        $668,874                        

See accompanying notes                                                          

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
(A Development Stage Company)                                                   
CONSOLIDATED STATEMENTS OF OPERATIONS                                           
(1990 through 1999 Unaudited)                                                   

320 months from                 
inception                       
Three Months Ended      Nine Months Ended       Feb 8, 1974     
Sep. 30 Sep. 30 Sep. 30 Sep. 30 to Sep.30                       
2000    1999    2000    1999    2000                            
Pre-operating revenues:                                                         
Payments received under                                         
joint venture agreements:                                     
               Meridian Minerals       $0      $0      $0      $0      754,924
Other   0       0         0         0   393,793 
Investment income       0       0       0       0       69,991  
Other Income    9,544   735     10,995  2,169   685,308         
         Sub-total       9,544   735     10,995  2,169   1,904,016

Pre-operating Expenses                                                          
Lease and non-creditable option                                 
            payments on mining properties       0       0       0      0 238,869
 Loss on abandonment     0       0       0       0       2,435,903
        Evaluation of mining properties 0           8  (2,000) (9,252) 2,747,648
Legal and accounting    0       20      0       20      703,241 
 Interest expense        7,207   7,072   21,393  20,606  1,195,406
        Administrative compensation     0       0       0       0      1,875,969
        Other administrative expense    848      (2,176)        2,384  0 755,106
Depreciation    0       0       0       0       60,529          
      California Franchise tax        50      0       75      900     56,467
        Uncompleted securities offering expense 0       0       0       0 78,635
Other expenses  (35)    3,746   10      3,746   214,038         
          Sub-total       8,070   (286)   21,862  7,861   10,361,811

Net operating income    1,474   1,010   (10,867)        (6,428) (8,457,796)     

Net gain resulting from subsidiaries                                            
issuance of stock for an amount                                                 
different from MLGM's carrying value    0       0       0       0       485,364 

Minority interest in loss of                                                    
subsidiaries    (45)    2       (28)    4       1,212,964                       

Net gain/(loss) $1,428  $1,012  ($10,895)       ($6,424)        ($6,759,436)    

Primary gain/loss per share     $0.000  $0.000  ($0.003)       ($0.002) ($2.261)

Fully diluted gain/loss per share       $0.000 $0.000 ($0.002) ($0.001) ($2.123)

See accompanying notes                                                          

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
(A Development Stage Company)                                                   
CONSOLIDATED STATEMENTS OF CASH FLOW                                            
(1990 through 1999 Unaudited)                                                   
320 months                                                      
Nine Months Ended       from inception                          
Sep. 30 Sep. 30 Feb 8, 1974 to                                  
2000    1999    Sep 30, 2000                                    
Cash flows from operating activities:   ($10,895)       ($6,424)    ($6,759,436)
Adjustments to reconcile net loss to net cash                                   
used in operating activities:                                                   
Depreciation and amortization   0       0       50,069          
Salaries and fees       0       423     1,689,814               
(Increase) Decrease in deposits 0       0       (1,969)         
   (Increase) Decrease in pre-paid expenses        0       50        0
        (Increase) Decrease in loans receivables        (2,174) (1,433) (48,686)
        Increase (Decrease) in accounts payables        (15,118)    5,670 13,791
Increase (Decrease) in long term loans  0       0       175,627 
        Increase (Decrease) in deferred officer salaries        (18)    0    195
      Increase (Decrease) in income taxes payable      25     (262)   12,607
        (Increase) Decrease in property loss abandonment        0    0 2,261,246
Other   0       0       320                                     
Gross cash used in operating activities (17,285)        4,021   4,152,694       

Cash flow from investing activities:                                            
Minority investment      28      0      238,707                 
Purchase of equipment   0       0       (50,728)                
Proceeds from sale of equipment 0       0       (2,100)         
Purchase of mining property     0       0       (2,888,042)     
Net cash provided by (used in) investing        28      0       (2,702,163)     

Cash flows from financing activities:                                           
Issuance of Series B Stock      0       0       47,748          
 Proceeds from sale of company stock     0       0       4,982,795
Increase (Decrease) in expiration of:                           
Series A Preferred Stock        (8,821) (9,310) (18,131)        
1984 Option Plan        0       0       (79,433)                
Net borrowing from notes payable        34,958  11,492  375,973                 
Net cash provided by financing activities       26,137    2,182 5,308,952       

Net increase (decrease) in cash ($2,016)        ($224)  $104    
Cash, beginning of period       2,062   288     0               
Cash, end of period     $46     $64     $46                     

A. Supplemental disclosures of cash flow information for the 320 month since    
inception to September 30, 2000:                                                
Cash paid for:  Interest        $719,084                        
Income taxes    $35,353                         

B. Supplemental schedule of non-cash investing and financing activities for the 
320 months from inception to September 30, 2000:       The Company has satisfied
various liabilities (Note 3) by issuance of stock or options (Exercise          
price: $0.0001 per share) to acquire common stock:                              
Stock Options   Stock                           
Salaries        $1,138,250                                      
Equipment           0           $5,000                          
Total   $1,138,250      $5,000                                  
See accompanying notes                                                          

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
(A Development Stage Company)                                                   
CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY                                 
(1990 through 1999 Unaudited)                                                   

Deficit Accumulated                             
Issued and Outstanding  Paid-in During the      
Shares  Amount  Capital Development Stage                       

From Inception, February 24, 1974 thru December 31, 1996                        
3,876,119       $4,977,473      $1,671,919      ($6,668,113)    

No shares were sold from Jan thru Dec 1997                                      
Dec 1997: Shares issued to partners of terminated                               
Gold Drilling Program No. 1     2,661   5,322                   
Paid-in capital representing options to acquire                                 
a cumulative maximum of 1,375,001 common shares         30,974  
December 31, 1997                                                               
   pre-operating net loss               0               0             0 (66,855)
As of December 31, 1997 3,878,780       4,982,795       1,702,893    (6,734,968)

No shares were sold from Jan thru Dec 1998                                      
Paid-in capital representing options to acquire                                 
a cumulative maximum of 1,531,294 common shares         23,495  
December 31, 1998                                                               
   pre-operating net loss               0               0             0 (70,291)
As of December 31, 1998 3,878,780       4,982,795       1,726,338    (6,805,299)

No shares were sold from Jan thru Dec 1999                                      
Series A Preferred shares converted                                             
to common shares    153,390 278,313 (278,313)                           
Series A Preferred options expired                      (9,310)                 
1984 Stock Option Plan Deferred Compensation                                    
Expiration of Options                   (79,433)                
Paid-in capital representing options to acquire                                 
a cumulative maximum of 1,442,544 common shares         0       
December 31, 1999                                                               
   pre-operating net gain               0                0              0 56,758
As of December 31, 1999 4,034,170       $5,261,108      $1,359,282  ($6,748,541)

No shares were sold from Jan thru Mar 2000                                      
Series A Preferred shares converted                                             
to common shares    100,825 164,657 (164,657)                           
Series A Preferred options expired                      (8,821)                 
1984 Stock option Plan Deferred Compensation                                    
Paid-in capital representing options to acquire                                 
a cumulative maximum of 1,399,341 common shares         0       
September 30, 2000                                                              
   pre-operating net gain               0                0            0 (10,895)
As of September 30, 2000        4,134,995     $5,425,765 $1,185,803 ($6,759,436)

See accompanying notes                                                          

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
NOTES TO FINANCIAL STATEMENTS                                                   
SEPTEMBER 30, 2000                                                              

1.       BASIS OF PRESENTATION                                                  

The accompanying unaudited consolidated financial statements have been prepared 
by the Company in accordance with generally accepted accounting principles      
for interim financial information and with the instructions to Form 10-QSB      
and Article 10 of Regulation S-X. Accordingly, they do not include all of the   
information and footnotes required by generally accepted accounting principles  
for complete financial statements.  In the opinion of management, all           
adjustments considered necessary for a fair presentation have been included.    
Operating results for the three-month period ended September 30, 2000 are not   
necessarily indicative of the results that may be expected for the year         
ending December 31, 2000. For further information, refer to the consolidated    
financial statements and footnotes thereto included in the Company's            
Form 10KSB for the year ended December 31, 1999.                                

2.      MINING PROPERTIES                                                       

A.      The Company currently has property rights only in El Dorado County on   
approximately 600 acres in the "Big Canyon" mining area in El Dorado County,    
California.                                                                     

1. Big Canyon Mining and Cattle Corporation Property A lease, with an option to 
purchase for surface and mineral rights on 584.07 acres was made effective      
July 1, 1996.                                                                   

2. Fort Yuma Claims:  Two unpatented lode claims, directly owned by the Company,
totaling about 20 acres, are located in an area open to mineral entry under     
the General Mining Law of 1972.                                                 

B.  Minimum Annual Land Lease Payments                                          

Assuming these properties are retained, and the payment schedule tentatively    
agreed to for the Big Canyon property is unchanged, the minimum payments        
are as follows:                                                                 

Year                                     Amount 
2000    (3 months)                      $2,100  
2001                                    $2,100  
2002                                    $2,100  

3.      STOCK OPTION PLANS                                                      

       The Company has two active stock option plans (1995 Stock Option Plan and
Directors' Stock Option Plan).Northern Mines Inc., a subsidiary of the          
Company has no active stock plan as all of the options expired March 1, 2000.   

The options are valued at the amount of the salary or other amounts owed, and   
are recorded in these amounts as paid-in capital, with offsets to expense, or   
accounts payable as appropriate. As of the date of this Form 10-QSB, they are   
summarized as follows:                                                          

A. Option plans for employees, directors and consultants:                       
                Plan            Expiration   Exercise Common Shares Reserved for
                                Date            Price  Under Option Future Grant
        1. Mother Lode Gold Mines Consolidated, unissued shares of common stock:
                1995 Plan       Jun 2005        $2.00           100,000        0
                Director's      Jun 2005        $2.00            40,000   60,000
                Total                                           140,000   60,000

The exercise prices of the foregoing incentive options were above market prices 
at the date of grant, so no compensation expense, or capital credit has been    
accounted for in connection with these options.                                 

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDIARIES                                                                
NOTES TO FINANCIAL STATEMENTS                                                   
SEPTEMBER 30, 2000                                                              

B. Compensatory options issued for services and/or in satisfaction of Company   
indebtedness.                                                                   

1. Mother Lode Gold Mines Consolidated:                         
a. Options on Series A preferred stock, callable at $10 per share, $.0001       
exercise price, each convertible to common stock for a minimum of 2.1316        
shares, increasing at a rate of 10% per annum to a maximum of 3.3368 shares     
after five years, and if the common stock has not been registered under the     
Securities Act of 1933, then increasing at 10% per annum to a maximum of        
5.4901 shares, until final expiration at the end of an additional five years.   

Through September 30, 2000, a total of 282,458 options for preferred shares were
issued and outstanding for salaries and fees to officers and others, at prices  
ranging from $10.00 to $1.53/share of preferred stock.                          

Shares on                       Exercise         Common Shares Amount of Expense
Conversion                      Price/Share          Under Option or Debt Relief
Minimum: 602,087                                                                
Maximum, 5 years class:         .0001              234,547                      
Maximum, 10 years class:                .0001           1,164,794               
                                                        1,399,341     $1,138,055

b. Options on Series B preferred stock, callable at $10 per share , $.0001      
exercise price, each convertible to common stock for a minimum of 5.00 shares,  
increasing at a rate of 0.05 shares per annum to a maximum of 5.20 shares       
after four years, and if the common stock has not been registered under the     
Securities Act of 1933, at a rate of 5.25 shares from the fifth anniversary,    
until final expiration at the end of an additional five years.                  

Through September 30, 2000 a total of 4,775 options for preferred shares were   
issued and outstanding for lease payments due to third parties at $10.00/share  
of preferred stock.                                                             

Shares on                       Exercise         Common Shares Amount of Expense
Conversion                      Price/Share          Under Option or Debt Relief
Minimum: 24,830                                                                 
Maximum, 5 year Class           .0001                   25,068          $ 47,748
Combined Series A and Series B                                                  
Total amount of expense relief (Series A and Series B)                $1,185,803

c. A summary of the changes in options outstanding, as of September 30, 2000    
follows:                                                                        

Compensatory Options, Maximum Shares of common stock:                           

January 1, 2000                                                           
Series B Preferred   24,830                                               
Series A Preferred, 5-year expiration class       329,377                 
Series A Preferred, 10-year expiration class    1,115,175                 
Total   1,469,382                                               

Net Changes, 2000                                                         
Series A Preferred, 5-year expiration class       (94,830)                
Series A Preferred, 10-year expiration class       49,619                 
Balance, September 30, 2000    1,424,171                                  

4.      OFFICE LEASE                                                            

The Company shares 1,400 square feet of office space in a Class A low rise      
building in a garden office park. The Company's share of the monthly lease      
payment is $510, plus annual operating and tax escalations.                     

Part I - Financial Information (continued)                                      

Item 2.  Management's Discussion an Analysis of Financial Condition and Results 
of Operations.                                                                  

       Summary of Financial Results. Mother Lode Gold Mines Consolidated and its
consolidated subsidiaries (the "Company") showed a Third Quarter 2000 gain of   
$1,428, with the combined first nine months having a loss of $10,895. The       
Company has no cash income from the projects in which the Company has an        
interest. Sources of cash flow to the Company have historically been derived    
from: (1) mining contracts with other mining companies, (2) securities          
offerings and (3) drilling programs.                                            

As of September 30, 2000, the Company had outstanding advances for land and     
administrative services to subsidiary corporations as follows: Amador United    
Gold Mines - $101,190; Northern Mines Inc. - $174,674; Pacific FarEast          
Minerals, Inc. - $4,592.                                                        

  During the Third Quarter, there were no placements of common stock. There were
a total of 100,825 shares issued on exercise of Series A Preferred options. The 
total number of common shares of the Company as of September 30, 2000 is        
4,134,995.                                                                      

Cash payments for officer's compensation were suspended effective October 1,    
1988, and remain in effect through September 30, 2000 and are in effect as of   
the date of this report. These deferred salaries are payable in stock options   
or cash, as the Board of Directors may from time to time decide.                

      For the quarter ending September 30, 2000 no options were issued. To date,
350,000 shares have been authorized and options for 282,458 shares of Series A  
Preferred Stock that have been granted remain active.                           

Preparation of Financial Statements. The consolidated financial statements of   
September 30, 2000, and for the three-month period then ended, were prepared    
by the Company and have not been reviewed by independent auditors prior to      
filing.                                                                         

Amador United Gold Mines ("AUGM"). There was no activity by this corporation    
during the Third Quarter 2000. The Company owns 48.37 % of the common stock     
(the only outstanding security) of AUGM.                                        

   Northern Mines Inc. ("NMI"). There was no activity by this corporation during
the Third Quarter 2000. The Company owns 81.86% of the common stock             
(the only outstanding security) of NMI.                                         

     Pacific FarEast Minerals, Inc. ("PFEM") During the Third Quarter 2000, PFEM
continued its responsibilities under the two joint ventures in the People's     
Republic of China. In order to settle an obligation for $39,064.33 in           
consulting fees owed to American Geological Services, PFEM issued 315,790 shares
to American Geological Services.  The Company now owns 31.4% of the common      
stock (the only outstanding security) of PFEM.                                  

(The balance of this page intentionally left blank)                             

PART II - OTHER INFORMATION                                                     

Item 1. Legal Proceedings.                                                      

The Company is not aware of any material legal proceedings to which the Company 
or any subsidiary is a party or of which any of their properties is subject,    
nor does the Company know of any such proceedings currently contemplated by any 
governmental agency.                                                            

Item 2. Changes in Security:                                    Not Applicable. 

Item 3. Default Upon Senior Securities:                         Not applicable. 

Item 4. Submission of Matters to a Vote of Security Holders:    Not applicable. 

Item 5. Other Information:                                      Not applicable  

Item 6. Exhibits and Reports on Form 8-K.                       Not Applicable  

Exhibit 11, Statement re Computation of Per Share Earnings which Exhibit begins 
at Sequential Page 11.                                                          

No reports on Form 8-K were filed during the period of this Form 10-QSB.        

SIGNATURES                                                                      

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
had duly caused this report to be signed on its behalf by the undersigned       
thereunto duly authorized.                                                      

MOTHER LODE GOLD MINES CONSOLIDATED                                             
By:                                                                             
o/s Frank M. Orrell             o/s Byron S. James                              
Frank M. Orrell,        Byron S. James,                                         
Chairman, CEO   Chief Financial Officer                                         
Date: February 20, 2001 Date: February 20, 2001                                 

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDARIES                                                                 
EARNINGS PER SHARE                                                              
(FULLY DILUTED)                                                                 
             CUMULATIVE 320 MONTHS 3 MONTHS 3 MONTHS 9 MONTHS 9 MONTHS 12 MONTHS
DATE    SHARES  SHARES  MONTHS  TO 6/30/00   TO 9/30/00 TO 9/30/99 TO 9/30/00 TO
9/30/99 TO 12/31/99                                                             
For the period 02/08/74 thru 12/31/96 (A,B,C,D)                                 
275     810,494,430                             
01/01/97 (C)    22,853  4,513,352               3       13,540,056              
03/31/97 (C)    22,450          4,535,802               3       13,607,406      
06/30/97 (C)    20,192          4,555,994               3       13,667,982      
09/30/97 (C)    4,035           4,560,029               3       13,680,087      
12/31/97 (C)    4,035           4,564,064               3       13,692,192      
03/31/98 (C)    4,035           4,568,099               3       13,704,297      
06/30/98 (C)    4,035           4,572,134               3       13,706,402      
09/30/98 (C)    16,366          4,588,500               3       13,765,500      
12/31/98        (C)     16,366     4,604,866 3 13,814,598 13,.814,598 13,814,598
03/31/99                0           4,604,866 3 13,814,598 13,814,598 13,814,598
06/30/99 (D)    95,037   4,699,903 3 14,099,709 14,099,709 14,099,709 14,099,709
09/30/99 (D)    28,713          4,728,616               3  14,185,848 14,185,848
12/31/99 (D)    31,640          4,760,256               3  14,208,768 14,208,768
03/31/00 (D)    32,342          4,792,598               3  14,377,794 14,377,794
06/30/00 (D)    32,342  4,824,940       3       14,474,820 14,474,820 14,474,820
09/30/00 (D)    36,141  4,861,081       0       0                               
        320 1,018,916,487 14,474,820 14,099,709 43,133,382 41,728,905 55,914,753

MONTHS                          320     3       3       9       9       12      

WEIGHTED AVERAGE SHARES        3,184,114 4,824,940 4,699,903 4,792,598 4,636,545
4,659,563                                                                       

NET INCOME/(LOSS)        ($6,759,436) $1,428 $1,012 ($10,895) ($6,424) ($22,625)

EARNINGS/(LOSS) PER SHARE                                                       
FULLY DILUTED                  ($2.123) $0.000 $0.000 ($0.002) ($0.001) ($0.005)

NOTES:                                                                          
(A) Share amounts have been restated for the following: 5:1 stock split - 1977; 
15:1 stock split - 1978; 10% stock dividend - 1984.                             
(B) Includes February 1992 cancellation of shares held by Northern Mines, Inc., 
an 82% owned subsidiary of Mother Lode Gold Mines Consolidated.                 
(C) Assumes the exercise and conversion of Series A preferred shares previously 
issued were converted on this date.                                             
(D) Shares issued for the exercise of Series A Preferred deferred compensation  
options.                                                                        
(E) Previous reports of earnings-per-share have reflected the exercise of       
100,614 options that could have occurred in 1975. These options were not        
exercised and hence are deleted from the June 30, 2000, and all future,         
earnings-per-share report.                                                      
Sequential Page Number 11                                                       

MOTHER LODE GOLD MINES CONSOLIDATED                                             
AND SUBSIDARIES                                                                 
EARNINGS PER SHARE                                                              
(PRIMARY)                                                                       
             CUMULATIVE 320 MONTHS 3 MONTHS 3 MONTHS 9 MONTHS 9 MONTHS 12 MONTHS
        DATE SHARES SHARES MONTHS TO 9/30/00 TO 9/30/00 TO 9/30/99 TO 9/30/00 TO
9/30/99 TO 12/31/99                                                             
For the period 02/08/74 thru 12/31/96 (A,B,C)                                   
275     779,649,314                                             
01/01/97                0       3,876,522       3       11,629,566              
03/31/97                2,258   3,878,780       3               11,636,340      
06/30/97                0       3,878,780       3               11,636,340      
09/30/97                0       3,878,780       3               11,636,340      
12/31/97                0       3,878,780       3               11,636,340      
03/31/98                0       3,878,780       3       11,636,340              
06/30/98                0       3,878,780       3       11,636,340              
9/30/98         0       3,878,780       3       11,636,340                      
12/31/98                0       3,878,780     3 11,636,340 11,636,340 11,636,340
03/31/99                0       3,878,780     3 11,636,340 11,636,340 11,636,340
06/30/99      (C) 95,037 3,973,811 3 11,921,541 11,921,541 11,921,541 11,921,541
09/30/99        (C)     28,713  4,002,530       3       12,007,590    12,007,590
12/31/99        (C)     31,640  4,034,170       3       12,102,510    12,102,510
03/31/00        (C)     32,342          4,066,512       3  12,199,536 12,199,536
06/30/00        (C)     32,342      4,098,854 3 12,296,562 12,296,562 12,296,562
09/30/90                (C)     36,141          4,134,955       0               
          320 944,237,027 12,296,562 11,921,541 36,598,608 35,194,131 47,201,721

MONTHS                                  320     3       3       9       9     12

WEIGHTED AVERAGE SHARES        2,989,167 4,098,854 3,973,817 4,066,512 3,910,459
3,933,477                                                                       

NET INCOME/(LOSS)        ($6,759,436) $1,428 $1,012 ($10,895) ($6,424) ($22,625)

EARNINGS/(LOSS) PER SHARE                                                       
PRIMARY                      ($2.261) ($0.000) $0.000 ($0.003) ($0.002) ($0.006)

NOTES:                                                                          
(A) Share amounts have been restated for the following: 5:1 stock split - 1977; 
15:1 stock split - 1978; 10% stock dividend - 1984.                             
(B) Includes February 1992 cancellation of shares held by Northern Mines, Inc., 
an 82% owned subsidiary of Mother Lode Gold Mines Consolidated.                 
(C) Shares issued for the exercise of Series A Preferred deferred compensation  
options.                                                                        
(D) Previous reports of earnings-per-share have reflected the exercise of       
100,614 options that could have occurred in 1975. These options were not        
exercised and hence are deleted from the June 30, 2000, and all future,         
earnings-per-share report.                                                      
Sequential Page Number: 12                      

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10QSB’ Filing		Date		Other Filings
Filed on:		3/23/01
		2/20/01
		12/31/00		10KSB
For Period End:		9/30/00
		6/30/00		10QSB
		3/1/00
		1/1/00
		12/31/99		10KSB
		12/31/98
		12/31/97
		12/31/96
		7/1/96
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