Independence Resources (SNKTYOB) 10-Q 26 Mar 14 2013 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2013
Document and Entity Information [Abstract]	'
Entity Registrant Name	'Independence Resources PLC
Document Type	'10-Q
Current Fiscal Year End Date	'--12-31
Entity Common Stock, Shares Outstanding	69,956,372
Amendment Flag	'false
Entity Central Index Key	'0000789944
Entity Current Reporting Status	'Yes
Entity Voluntary Filers	'No
Entity Filer Category	'Smaller Reporting Company
Entity Well-known Seasoned Issuer	'No
Document Period End Date	30-Jun-13
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q2

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS	'	'
Cash and cash equivalents	$91,269	$196,300
Investments - available for sale	76,890	124,306
Trade receivables	10,650	3,298
Receivable - related party	5,500	5,500
Note receivable - related party	2,000	'
Other current assets	84,885	87,022
Total Current Assets	271,194	416,426
PROPERTY, PLANT AND EQUIPMENT, net	127,858	179,625
MINING PROPERTIES	'	'
Mining claims	6,493,202	6,493,202
OTHER ASSETS	'	'
Goodwill	1,685,000	1,685,000
Total Other Assets	1,685,000	1,685,000
TOTAL ASSETS	8,577,254	8,774,253
CURRENT LIABILITIES	'	'
Accounts payable	227,351	167,926
Accrued liabilities	191,213	155,409
Deferred revenue and license fee	'	71,731
Judgment payable	306,219	306,219
Total Current Liabilities	724,783	701,285
TOTAL LIABILTIES	724,783	701,285
STOCKHOLDERS’ EQUITY	'	'
Authorized shares: $0.01 (1 pence) par value, 100,000,000; 69,956,372 and 69,956,372 shares issued and outstanding	1,119,302	1,119,302
Share premium	99,361,241	99,361,241
Accumulated deficit	-92,950,825	-92,774,579
Accumulated other comprehensive income - translation	-7,234	-4,779
Accumulated other comprehensive income – unrealized gain (loss) on investments available for sale	-138,780	-91,365
Total Independence Resources, PLC Stockholders’ Equity	7,383,704	7,609,820
Non controlling interest	468,767	463,148
Total Equity	7,852,471	8,072,968
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$8,577,254	$8,774,253

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parentheticals) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Authorized shares: par value (in Dollars per share)	$0.01	$0.01
Authorized shares	100,000,000	100,000,000
Authorized shares: issued	69,956,372	69,956,372
Authorized shares: outstanding	69,956,372	69,956,372

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
REVENUES	'	'	'	'
Oil and gas revenue	'	$27,041	'	$41,640
Contracting revenue	860	'	81,712	'
TOTAL REVENUE	860	27,041	81,712	41,640
OPERATING EXPENSES	'	'	'	'
Administration, sales and marketing	115,377	617,773	301,389	884,243
Contracting expense	4,659	-116,660	62,848	-120,235
Exploration expense	'	116,354	'	334,490
Loss on impairment of investment - oil and gas property	'	'	'	41,250
Loss on disposal of asset	'	'	12,853	'
TOTAL OPERATING EXPENSES	120,036	734,127	377,090	1,259,983
LOSS FROM OPERATIONS	-119,176	-707,086	-295,378	-1,218,343
OTHER INCOME (EXPENSE)	'	'	'	'
Other income (expense)	722	-412	933	289
Recovery of receivable	'	'	19,295	'
Loss on disposal of subsidiary	'	-30,245	'	-30,245
TOTAL OTHER INCOME(EXPENSE)	722	-30,657	20,228	-29,956
LOSS FROM CONTINUING OPERATIONS BEFORE TAXES	-118,454	-737,743	-275,150	-1,248,299
NET LOSS FROM CONTINUING OPERATIONS	-118,454	-737,743	-275,150	-1,248,299
INCOME FROM DISCONTINUED OPERATIONS	48,439	43,039	104,523	86,077
NET LOSS	-70,015	-694,704	-170,627	-1,162,222
Less: Net income (loss) attributable to non controlling interest	-1,180	-36,100	5,619	-36,100
NET LOSS ATTRIBUTABLE TO INDEPENDENCE RESOURCES PLC	-68,835	-658,604	-176,246	-1,126,122
OTHER COMPREHENSIVE INCOME (LOSS)	'	'	'	'
Net Loss	-70,015	-694,704	-170,627	-1,162,222
Unrealized gain (loss) on investments available for sale	-41,906	-73,577	-47,415	-36,906
Translation adjustments	-203	80,816	-2,455	78,955
COMPREHENSIVE LOSS	-112,124	-687,465	-220,497	-1,120,173
COMPREHENSIVE LOSS ATTRIBUTABLE TO INDEPENDENCE RESOURCES PLC	-110,944	-651,365	-226,116	-1,084,073
NET LOSS PER COMMON SHARE,	'	'	'	'
Loss from continuing operations (in Dollars per share)	$0	($0.01)	$0	($0.02)
Income from discontinued operations (in Dollars per share)	$0	$0	$0	$0
BASIC AND DILUTED (in Dollars per share)	$0	($0.01)	$0	($0.02)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED	$69,956,372	$69,423,040	$69,956,372	$69,423,040

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($170,627)	($1,162,222)
used by operating activities:	'	'
Depreciation	1,914	4,982
Stock based compensation	'	92,000
Impairment of investment - oil and gas property	'	41,250
Loss on disposition of assets	-12,853	'
Recovery of receivable	-19,295	'
Decrease (increase) in:	'	'
Trade receivables	-7,352	9,438
Other receivables	2,137	'
Increase (decrease) in:	'	'
Accounts payable	59,426	-187,367
Accrued liabilities	55,099	-123,264
Deferred revenue and license fee	-71,731	-86,077
Net cash used by operating activities	-137,576	-1,411,260
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of investments - available for sale	'	-26,775
Purchase of equipment	'	-85,690
Proceeds from sale of equipment	7,000	576,500
Purchase of oil and gas lease and wells and related equipment	'	-2,280
Received on note receivable – related party	28,000	'
Acquisition of mining claims	'	-95,209
Acquisition of CDA Mine Contracting	'	-200,000
Cash received in acquisition	'	100
Net cash provided by investing activities	35,000	166,646
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net increase (decrease) in cash and cash equivalents	-102,576	-1,244,614
Net foreign exchange differences	-2,455	1,468
Cash and cash equivalents, beginning of period	196,300	1,520,321
Cash and cash equivalents, end of period	91,269	277,175
NON-CASH TRANSACTIONS:	'	'
Stock payable for acquisition of CDA Mine Contracting LLC	'	920,000
Note receivable for equipment	$30,000	'

NOTE_1_ORGANIZATION_AND_DESCRI

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2013
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
	Historically, Independence Resources PLC was a life sciences company engaged in the research, development and commercialization of technologies that targeted the science of healthy aging. In early 2010, after an extensive review by the Board of Directors of the Company and outside advisors, the Board elected to change the overall direction of the Company from these sectors to the natural resources sector.
	Independence Resources PLC, together with its subsidiaries (the “Company” which may be referred to as “Independence”), is a public limited company organized under the laws of England in 1983. Independence has three wholly-owned subsidiaries, Senetek Drug Delivery Technologies Inc. (“SSDT”) and Carmé Cosmeceutical Sciences Inc. (“CCSI”), both Delaware corporations, Iron Eagle Acquisitions, Inc. (“Iron Eagle”), a Nevada corporation. On April 18, 2012, Independence acquired 70% of Coeur d' Alene Mine Contracting LLC.
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
	In the opinion of management, the unaudited interim financial statements included herein reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s consolidated financial position as of June 30, 2013 and the results of operations and cash flows for the periods ended June 30, 2013 and 2012.  The interim results of operations are not necessarily indicative of the results that may be expected for the full fiscal year.

NOTE_2_SUMMARY_OF_SIGNIFICANT_

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Revenue Recognition
	Oil and gas revenues are recorded using the sales method.  Under this method, the Company recognized revenues based on actual volumes of oil and gas sold to purchasers.
	The Company recognizes revenue from its mine contracting services, which are generally performed on an hourly basis, when services are performed and the customer accepts the work.
	Earnings per Ordinary Share
	Basic earnings per share are computed using the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share incorporate the incremental shares issuable upon the assumed exercise of dilutive stock options and warrants using the treasury stock method.
	Options and warrants totaling 23,761,676 and 20,592,932 shares were outstanding at June 30, 2013 and 2012, respectively, but were excluded from the calculation of diluted earnings per share as their effect would have been antidilutive.
	Going Concern
	As shown in the accompanying financial statements, the Company had an accumulated deficit incurred through June 30, 2013. These factors raise substantial doubt the Company may be able to continue in existence in the absence of receiving additional funding. The financial statements do not include any adjustments related to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence

NOTE_3_INVESTMENTS_AVAILABLE_F

NOTE 3 - INVESTMENTS - AVAILABLE FOR SALE	6 Months Ended
	Jun. 30, 2013
Disclosure Text Block Supplement [Abstract]	'
Investments and Other Noncurrent Assets [Text Block]	'
	NOTE 3 – INVESTMENTS – AVAILABLE FOR SALE
	The following summarizes the securities available for sale at June 30, 2013.
		Number of Shares		Cost Basis		Fair Value
						(Level 1 Inputs)
	Security
	Consolidated Goldfields*	111,657	$	13,732	$	20,098
	Hecla Mining	200		1,760		596
	Merger Mines Corp	4,700		705		282
	Metropolitan Mines, Ltd	35,850		6,453		2,868
	Mineral Mountain Mining and Milling Co*	19,947		8,378		599
	New Jersey Mining Company	20,000		4,200		800
	PM Pan Minerals	3,050,000		-		-
	Shoshone Silver / Gold Mining*	500,000		91,840		15,000
	Thunder Mountain Gold	523,535		88,602		36,647
			$	215,670	$	76,890
	* Related parties, see Note 11
	The fair value of securities is determined by quoted market prices.

NOTE_4_PROPERTY_AND_EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	NOTE 4 – PROPERTY AND EQUIPMENT
	In February 2013, the Company sold equipment to ABM Mining Company, with a carrying value of $49,853 for $7,000 cash and a note receivable of $30,000, a loss on disposal was recognized in the amount of $12,853. This transaction in considered a related party. See Note 11

NOTE_5_SETTLEMENT_AGREEMENT

NOTE 5 - SETTLEMENT AGREEMENT	6 Months Ended
	Jun. 30, 2013
Loss Contingency [Abstract]	'
Contingencies Disclosure [Text Block]	'
	NOTE 5 – SETTLEMENT AGREEMENT
	On January 1, 2013, the Company signed a Settlement Agreement and Mutual General Release (“Settlement”) related to the Asset Purchase Agreement (“APA”) and Note dated March 10, 2010 with Pyratine LLC (formerly Skinvera LLC). (See Note 8) Under the terms of the Settlement, Pyratine is released from making royalty payments as set forth in the original APA. Additionally, the original note is being amended and restated to include a partial pay down of $100,000, less one-half of the attorneys’ fees incurred by Pyratine in drafting the agreement (capped at $1,500), which was received in January 2013, a credit on the original note of $100,000 for unanticipated attorneys’ fees in defending against a claim against Pyratine, and the forgiveness of any amounts outstanding due Pyratine from the Company. The new balance of the note under this agreement is $1,876,657 with interest of 1.17% per annum until the new maturity date of July 1, 2021, no payments shall be owed until the Maturity Date and there is no prepayment penalty.
	Prior to 2012, the Company reserved the balance of the initial note and interest receivable based on an estimate to the ultimate collectability of amounts due, based on the Company’s knowledge of Skinvera’s business activities.  Any monies received in connection with the above settlement agreement will be recognized as income.

NOTE_6_MINERAL_PROPERTIES

NOTE 6 - MINERAL PROPERTIES	6 Months Ended
	Jun. 30, 2013
Mineral Industries Disclosures [Abstract]	'
Mineral Industries Disclosures [Text Block]	'
	NOTE 6 – MINERAL PROPERTIES
	Iron Creek Project, Salmon, Idaho
	The Iron Creek Project consists of seven patented mining claims of approximately 118 acres in Lemhi County, Idaho, and has a carrying value of 2,095,020.
	Gray Eagle Copper Mine, Happy Camp, California
	The Gray Eagle Copper Mine (“Gray Eagle”) consists of approximately 294 acres of patented mining claims in Siskiyou County, the northernmost county of the State of California, and has a carrying value of $4,290,000.
	The Gray Eagle Mine has been subject to an EPA clean up action in the past. According to publicly available EPA documents, the EPA has expended about $3 million in response costs cleaning up old mining tailings. The Company understands that several companies have been identified as potential responsible parties for this clean up. The Company has not to date received any communication from the EPA with respect to recovery of these costs or any environmental issues that may be present at the Gray Eagle property.
	East Mullan Claims
	The East Mullan Claims consist of fifteen unpatented mining claims, three of which are very proximate to the east of the Lucky Friday/Gold Hunter Mine complex in Shoshone County, Idaho.  The remainder of the claims are located on a down dip possible extension of the historic Snowstorm Mine. These claims were purchased during the first quarter of 2012 from Consolidated Goldfields for $60,000 in cash.  This transaction is considered related party as the Company and Consolidated Goldfields have directors in common.

NOTE_7_STOCKHOLDERS_EQUITY

NOTE 7- STOCKHOLDERS EQUITY	6 Months Ended
	Jun. 30, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	NOTE 7– STOCKHOLDERS EQUITY
	The following warrants were outstanding at June 30, 2013 and June 30, 2012:
	Warrant	Warrants	Exercise	Expiration
	Type	Issued and	Price	Date
		Unexercised
	Convertible Debt Warrants	7,200,000	$0.25	Mar-15
	Warrants	3,200,000	0.15	Jun-14
	Warrants	2,146,152	0.15	Jul-14
		12,546,152
	There were no issuances, exercise or expiration of warrants during the six month period ended June 30, 2013
	The convertible debt warrants were issued in association with the March 2010 Security Purchase Agreement with DMRJ Group, LLC. The warrants entitle the holder to purchase ordinary shares of the Company at the purchase price referred to above at any time prior to the expiration date. Although the related convertible debt was paid off in 2011, the warrants are still exercisable and were repriced to $1.00 per the termination agreement.

NOTE_8_SEGMENT_REPORTING_AND_C

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK	6 Months Ended
	Jun. 30, 2013
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	NOTE 8– SEGMENT REPORTING AND CONCENTRATION OF RISK
	Financial information regarding the operating segments was as follows:
							Three Months Ended June 30, 2013
			Mining		Oil & Gas		Mine		Total
			Exploration				Contracting
	Revenues	$	-	$	-	$	860	$	860
	Exploration expense		-		-		-		-
	Contracting expense		-		-		-4,659		-4,659
	Unallocated operating expenses		-		-		-		-115,377
	Operating gain (loss)	$	-	$	-	$	-3,799	$	-119,176
	Assets	$	6,555,597	$	-	$	1,782,137	$	8,337,734
	Unallocated Assets								239,520
	Total Assets							$	8,577,254
							Three Months Ended June 30, 2012
			Mining		Oil & Gas		Mine		Total
			Exploration				Contracting
	Revenues	$	-	$	27,041	$	-	$	27,041
	Exploration expense		-108,476		-7,878		-		-116,354
	Contracting expense						-116,660		-116,660
	Unallocated operating expenses		-		-		-		-501,113
	Operating gain (loss)	$	-108,476	$	-19,163	$	-116,660	$	-707,086
	Assets	$	6,588,022	$	689,519	$	50,520	$	7,328,061
	Unallocated Assets								2,099,876
	Total Assets							$	9,427,937
							Six Months Ended June 30, 2013
			Mining		Oil & Gas		Mine		Total
			Exploration				Contracting
	Revenues	$	-	$	-	$	81,712	$	81,712
	Exploration expense		-		-		-		-
	Contracting expense		-		-		-62,848		-62,848
	Unallocated operating expenses		-		-		-		-314,242
	Operating gain (loss)	$	-	$	-	$	18,864	$	-295,378
	Assets	$	6,555,597	$	-	$	1,782,137	$	8,337,734
	Unallocated Assets								239,520
	Total Assets							$	8,577,254
							Six Months Ended June 30, 2012
			Mining		Oil & Gas		Mine		Total
			Exploration				Contracting
	Revenues	$	-	$	41,640	$	-	$	41,640
	Exploration expense		-306,360		-28,130		-		-334,490
	Contracting expense		-		-		-120,235		-120,235
	Loss on impairment of oil & gas property		-		-41,250		-		-41,250
	Unallocated operating expenses		-		-		-		-764,008
	Operating gain (loss)	$	-306,360	$	-27,740	$	-120,235	$	-1,218,343
	Assets	$	6,588,022	$	689,519	$	50,520	$	7,328,061
	Unallocated Assets								2,099,876
	Total Assets							$	9,427,937
	The Company’s customers are principally in the United States.

NOTE_9_DISCONTINUED_OPERATIONS

NOTE 9 - DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	NOTE 9 – DISCONTINUED OPERATIONS
	During the year ended December 31, 2011, with the exception of the Reliaject product, the Company has sold or otherwise disposed of the remainder of its pharmaceutical and skincare assets which has continued to reduce expenses associated with the biomedical lines of business.
	The following table details selected financial information included in the income from discontinued operations in the consolidated statements of operations for the six months ended June 30, 2013 and 2012:
			30-Jun-13	30-Jun-12
	Royalties and licensing	$	104,523	86,077
	Income from discontinued operations	$	104,523	86,077

NOTE_10_COMMITMENTS_AND_CONTIN

NOTE 10 - COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	NOTE 10 – COMMITMENTS AND CONTINGENCIES
	Claims against the Company
	In the fall of 2010 Miller Tabak & Company, a New York based investment banking firm, filed a breach of contract action against the Company in New York Supreme Court seeking an amount of approximately $360,000 for alleged non-payment of a commission. On September 19, 2012, the Court granted Miller Tabak & Company’s summary judgment and ordered the Company to pay $250,000 plus statutory interest in the amount $56,219 and 133,333 ordinary shares. A loss of $350,219 has been recognized as an expense for the quarter ended September 30, 2012 for this judgment. As of June 30, 2013, the amount has not been paid; the ordinary shares valued at $42,297 were issued on November 28, 2012.

NOTE_11_RELATED_PARTY

NOTE 11 - RELATED PARTY	6 Months Ended
	Jun. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	NOTE 11 – RELATED PARTY
	Wesley Holland, a former director, provided certain consulting services to the Company in connection with developing and marketing our life science technologies and products. The Company has paid Dr. Holland a total of approximately $0 and $6,750 during the three months ended June 30, 2013 and 2012, respectively.
	John Ryan (the Company’s chief executive officer), and Howard Crosby (a director of the Company) are Directors of Shoshone Silver/Gold Mines, Inc and Mineral Mountain Mining and Milling Co. Mr. Ryan was a Director of Consolidated Goldfields when the Company purchased the investment but resigned in the fall of 2011. At June 30, 2013, the Company has investments in shares of common stock in these companies (See Note 3).
	In August 2011, the Company loaned $5,500 to Big Bear Mining Co which has directors in common with the Company. This receivable is outstanding at June 30, 2013.
	On April 16, 2012 the Company sold mining equipment for cash at its carrying value of $576,500 to ABM Mining Company (“ABM”); no gain was recognized on the sale. This transaction is considered related party as the Company and ABM have directors in common. Additionally, all contracting income was received from ABM Mining. Additionally, in February 2013 the Company sold additional equipment to ABM, which included a note receivable from ABM of $30,000. See Note 4. The Company received $28,000 payment in the second quarter 2013 and the remaining payment of $2,000 was collected in the third quarter of 2013.

NOTE_12_SUBSEQUENT_EVENTS

NOTE 12 - SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	NOTE 12 – SUBSEQUENT EVENTS
	In September 2013, the Company exchanged its Iron Creek property for a 70% undivided interest in mineral rights, including oil and gas full column rights, located in Orange County, CA.
	On September 15, 2013, the Company decided to dispose of its 70% subsidiary, Coeur d’ Alene Mine Contracting. A loss was recognized on the transaction in the amount of $423,324, which included the return of 3,000,000 stock options valued at $1,017,000.
	The Company’s appeal in the Miller Tabek lawsuit was argued in January 2014. No decision has been made by the court through February 2014.

NOTE_3_INVESTMENTS_AVAILABLE_F1

NOTE 3 - INVESTMENTS - AVAILABLE FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2013
Disclosure Text Block Supplement [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
		Number of Shares		Cost Basis		Fair Value
						(Level 1 Inputs)
	Security
	Consolidated Goldfields*	111,657	$	13,732	$	20,098
	Hecla Mining	200		1,760		596
	Merger Mines Corp	4,700		705		282
	Metropolitan Mines, Ltd	35,850		6,453		2,868
	Mineral Mountain Mining and Milling Co*	19,947		8,378		599
	New Jersey Mining Company	20,000		4,200		800
	PM Pan Minerals	3,050,000		-		-
	Shoshone Silver / Gold Mining*	500,000		91,840		15,000
	Thunder Mountain Gold	523,535		88,602		36,647
			$	215,670	$	76,890

NOTE_7_STOCKHOLDERS_EQUITY_Tab

NOTE 7- STOCKHOLDERS EQUITY (Tables)	6 Months Ended
	Jun. 30, 2013
Stockholders' Equity Note [Abstract]	'
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	'
	Warrant	Warrants	Exercise	Expiration
	Type	Issued and	Price	Date
		Unexercised
	Convertible Debt Warrants	7,200,000	$0.25	Mar-15
	Warrants	3,200,000	0.15	Jun-14
	Warrants	2,146,152	0.15	Jul-14
		12,546,152

NOTE_8_SEGMENT_REPORTING_AND_C1

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK (Tables)	3 Months Ended																		6 Months Ended
	Jun. 30, 2013									Jun. 30, 2012									Jun. 30, 2013									Jun. 30, 2012
Segment Reporting [Abstract]	'									'									'									'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'									'									'									'
							Three Months Ended June 30, 2013									Three Months Ended June 30, 2012									Six Months Ended June 30, 2013									Six Months Ended June 30, 2012
			Mining		Oil & Gas		Mine		Total			Mining		Oil & Gas		Mine		Total			Mining		Oil & Gas		Mine		Total			Mining		Oil & Gas		Mine		Total
			Exploration				Contracting					Exploration				Contracting					Exploration				Contracting					Exploration				Contracting
	Revenues	$	-	$	-	$	860	$	860	Revenues	$	-	$	27,041	$	-	$	27,041	Revenues	$	-	$	-	$	81,712	$	81,712	Revenues	$	-	$	41,640	$	-	$	41,640
	Exploration expense		-		-		-		-	Exploration expense		-108,476		-7,878		-		-116,354	Exploration expense		-		-		-		-	Exploration expense		-306,360		-28,130		-		-334,490
	Contracting expense		-		-		-4,659		-4,659	Contracting expense						-116,660		-116,660	Contracting expense		-		-		-62,848		-62,848	Contracting expense		-		-		-120,235		-120,235
	Unallocated operating expenses		-		-		-		-115,377	Unallocated operating expenses		-		-		-		-501,113	Unallocated operating expenses		-		-		-		-314,242	Loss on impairment of oil & gas property		-		-41,250		-		-41,250
	Operating gain (loss)	$	-	$	-	$	-3,799	$	-119,176	Operating gain (loss)	$	-108,476	$	-19,163	$	-116,660	$	-707,086	Operating gain (loss)	$	-	$	-	$	18,864	$	-295,378	Unallocated operating expenses		-		-		-		-764,008
	Assets	$	6,555,597	$	-	$	1,782,137	$	8,337,734	Assets	$	6,588,022	$	689,519	$	50,520	$	7,328,061	Assets	$	6,555,597	$	-	$	1,782,137	$	8,337,734	Operating gain (loss)	$	-306,360	$	-27,740	$	-120,235	$	-1,218,343
	Unallocated Assets								239,520	Unallocated Assets								2,099,876	Unallocated Assets								239,520	Assets	$	6,588,022	$	689,519	$	50,520	$	7,328,061
	Total Assets							$	8,577,254	Total Assets							$	9,427,937	Total Assets							$	8,577,254	Unallocated Assets								2,099,876
																												Total Assets							$	9,427,937

NOTE_9_DISCONTINUED_OPERATIONS1

NOTE 9 - DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
			30-Jun-13	30-Jun-12
	Royalties and licensing	$	104,523	86,077
	Income from discontinued operations	$	104,523	86,077

NOTE_1_ORGANIZATION_AND_DESCRI1

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Sep. 29, 2013	Sep. 15, 2013	Apr. 18, 2012
Disclosure Text Block [Abstract]	'	'	'
Business Acquisition, Percentage of Voting Interests Acquired	70.00%	70.00%	70.00%

NOTE_2_SUMMARY_OF_SIGNIFICANT_1

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Accounting Policies [Abstract]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	23,761,676	20,592,932

NOTE_3_INVESTMENTS_AVAILABLE_F2

NOTE 3 - INVESTMENTS - AVAILABLE FOR SALE (Details) - Securities Available-for-Sale (USD $)	Jun. 30, 2013
Securities Available-for-Sale [Abstract]	'
Consolidated Goldfields* (in Shares)	111,657
Consolidated Goldfields*	$13,732
Consolidated Goldfields*	20,098
Hecla Mining (in Shares)	200
Hecla Mining	1,760
Hecla Mining	596
Merger Mines Corp (in Shares)	4,700
Merger Mines Corp	705
Merger Mines Corp	282
Metropolitan Mines, Ltd (in Shares)	35,850
Metropolitan Mines, Ltd	6,453
Metropolitan Mines, Ltd	2,868
Mineral Mountain Mining and Milling Co* (in Shares)	19,947
Mineral Mountain Mining and Milling Co*	8,378
Mineral Mountain Mining and Milling Co*	599
New Jersey Mining Company (in Shares)	20,000
New Jersey Mining Company	4,200
New Jersey Mining Company	800
PM Pan Minerals (in Shares)	3,050,000
Shoshone Silver / Gold Mining* (in Shares)	500,000
Shoshone Silver / Gold Mining*	91,840
Shoshone Silver / Gold Mining*	15,000
Thunder Mountain Gold (in Shares)	523,535
Thunder Mountain Gold	88,602
Thunder Mountain Gold	36,647
	215,670
	$76,890

NOTE_4_PROPERTY_AND_EQUIPMENT_

NOTE 4 - PROPERTY AND EQUIPMENT (Details) (USD $)	2 Months Ended	6 Months Ended
	Feb. 28, 2013	Jun. 30, 2013	Dec. 31, 2012
Property, Plant and Equipment [Abstract]	'	'	'
Property, Plant and Equipment, Net	$49,853	$127,858	$179,625
Significant Acquisitions and Disposals, Restriction on Amount of Proceeds from Donated Property, Plant, and Equipment	7,000	'	'
	30,000	30,000	'
Gain (Loss) on Disposition of Property Plant Equipment	$12,853	'	'

NOTE_5_SETTLEMENT_AGREEMENT_De

NOTE 5 - SETTLEMENT AGREEMENT (Details) (USD $)	3 Months Ended
	Mar. 31, 2013	Jun. 30, 2013
Loss Contingency [Abstract]	'	'
Settlement Agreement, Partial Pay Down	'	$100,000
Professional Fees	1,500	'
Settlement Agreement Face Value	'	$1,876,657
Settlement Agreement, Interest Rate	'	1.17%

NOTE_6_MINERAL_PROPERTIES_Deta

NOTE 6 - MINERAL PROPERTIES (Details) (USD $)	Jun. 30, 2013	Jun. 29, 2013	Jun. 28, 2013
		sqm	sqm
Mineral Industries Disclosures [Abstract]	'	'	'
Mining Claims, Number	15	'	7
Area of Land (in Square Meters)	'	294	118
Mineral Rights	$60,000	$4,290,000	$2,095,020

NOTE_7_STOCKHOLDERS_EQUITY_Det

NOTE 7- STOCKHOLDERS EQUITY (Details) - Warrants Outstanding (USD $)	15 Months Ended	16 Months Ended	24 Months Ended
	Jun. 30, 2014	Jul. 31, 2014	Mar. 31, 2015
Warrants Outstanding [Abstract]	'	'	'
Warrants Issued and Unexercised	3,200,000	2,146,152	7,200,000
Warrant Exercise Price (in Dollars)	$0.15	$0.15	$0.25
Warrant Expiration Date	30-Jun-14	31-Jul-14	31-Mar-15
	'	'	12,546,152

NOTE_8_SEGMENT_REPORTING_AND_C2

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK (Details) - Operating Segments (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Segments [Abstract]	'	'	'	'
Revenues	$860	'	'	'
Revenues	860	27,041	81,712	41,640
Contracting expense	-4,659	116,660	-62,848	120,235
Unallocated operating expenses	-115,377	-501,113	-314,242	-764,008
Operating gain (loss)	-3,799	-116,660	18,864	-120,235
Operating gain (loss)	-119,176	-707,086	-295,378	-1,218,343
Assets	6,555,597	6,588,022	6,555,597	6,588,022
Assets	1,782,137	50,520	1,782,137	50,520
Assets	8,337,734	7,328,061	8,337,734	7,328,061
Unallocated Assets	239,520	2,099,876	239,520	2,099,876
Total Assets	$8,577,254	$9,427,937	$8,577,254	$9,427,937

NOTE_8_SEGMENT_REPORTING_AND_C3

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK (Details) - Operating Segments (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Segments [Abstract]0	'	'	'	'
Revenues	'	$27,041	'	'
Revenues	860	27,041	81,712	41,640
Exploration expense	'	-108,476	'	-306,360
Exploration expense	'	-7,878	'	-28,130
Exploration expense	'	-116,354	'	-334,490
Contracting expense	4,659	-116,660	62,848	-120,235
Unallocated operating expenses	-115,377	-501,113	-314,242	-764,008
Operating gain (loss)	'	-108,476	'	'
Operating gain (loss)	'	-19,163	'	-27,740
Operating gain (loss)	-3,799	-116,660	18,864	-120,235
Operating gain (loss)	-119,176	-707,086	-295,378	-1,218,343
Assets	6,555,597	6,588,022	6,555,597	6,588,022
Assets	'	689,519	'	689,519
Assets	1,782,137	50,520	1,782,137	50,520
Assets	8,337,734	7,328,061	8,337,734	7,328,061
Unallocated Assets	239,520	2,099,876	239,520	2,099,876
Total Assets	$8,577,254	$9,427,937	$8,577,254	$9,427,937

NOTE_8_SEGMENT_REPORTING_AND_C4

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK (Details) - Operating Segments (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Segments [Abstract]00	'	'	'	'
Revenues	$860	$27,041	$81,712	$41,640
Revenues	860	27,041	81,712	41,640
Contracting expense	-4,659	116,660	-62,848	120,235
Unallocated operating expenses	-115,377	-501,113	-314,242	-764,008
Operating gain (loss)	-3,799	-116,660	18,864	-120,235
Operating gain (loss)	-119,176	-707,086	-295,378	-1,218,343
Assets	6,555,597	6,588,022	6,555,597	6,588,022
Assets	1,782,137	50,520	1,782,137	50,520
Assets	8,337,734	7,328,061	8,337,734	7,328,061
Unallocated Assets	239,520	2,099,876	239,520	2,099,876
Total Assets	$8,577,254	$9,427,937	$8,577,254	$9,427,937

NOTE_8_SEGMENT_REPORTING_AND_C5

NOTE 8- SEGMENT REPORTING AND CONCENTRATION OF RISK (Details) - Operating Segments (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Segments [Abstract]000	'	'	'	'
Revenues	$860	$27,041	$81,712	$41,640
Revenues	860	27,041	81,712	41,640
Exploration expense	'	-108,476	'	-306,360
Exploration expense	'	-7,878	'	-28,130
Exploration expense	'	-116,354	'	-334,490
Contracting expense	4,659	-116,660	62,848	-120,235
Loss on impairment of oil & gas property	'	'	'	41,250
Unallocated operating expenses	-115,377	-501,113	-314,242	-764,008
Operating gain (loss)	'	'	'	-306,360
Operating gain (loss)	'	-19,163	'	-27,740
Operating gain (loss)	-3,799	-116,660	18,864	-120,235
Operating gain (loss)	-119,176	-707,086	-295,378	-1,218,343
Assets	6,555,597	6,588,022	6,555,597	6,588,022
Assets	'	689,519	'	689,519
Assets	1,782,137	50,520	1,782,137	50,520
Assets	8,337,734	7,328,061	8,337,734	7,328,061
Unallocated Assets	239,520	2,099,876	239,520	2,099,876
Total Assets	$8,577,254	$9,427,937	$8,577,254	$9,427,937

NOTE_9_DISCONTINUED_OPERATIONS2

NOTE 9 - DISCONTINUED OPERATIONS (Details) - Selected Financial Information from Discontinued Operations (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Selected Financial Information from Discontinued Operations [Abstract]	'	'
Royalties and licensing	$104,523	$86,077
Income from discontinued operations	$104,523	$86,077

NOTE_10_COMMITMENTS_AND_CONTIN1

NOTE 10 - COMMITMENTS AND CONTINGENCIES (Details) (USD $)	0 Months Ended	18 Months Ended
	Sep. 30, 2012	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'	'
Loss Contingency, Damages Sought, Value	$360,000	'
Loss Contingency, Damages Awarded, Value	250,000	'
Loss Contingency, Interest Amount Payable On Damages Awarded	56,219	'
Loss Contingency, Number of Shares, Issuable for Damages Awarded (in Shares)	133,333	'
Loss Contingency, Loss on Judgment	350,219	'
Loss Contingency, Value, Shares Issuable for Damages Awarded	'	$42,297

NOTE_11_RELATED_PARTY_Details

NOTE 11 - RELATED PARTY (Details) (USD $)	3 Months Ended			6 Months Ended
	Jun. 30, 2012	Sep. 30, 2013	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2012	Sep. 30, 2011
Related Party Transactions [Abstract]	'	'	'	'	'	'
Accrued Salaries	$6,750	'	$0	$0	$6,750	'
Accounts Receivable, Related Parties	'	'	'	'	'	5,500
Proceeds from Sale of Machinery and Equipment	576,500	'	'	7,000	576,500	'
Related Party Transaction, Due from (to) Related Party, Current	30,000	'	'	'	30,000	'
Increase (Decrease) in Due from Related Parties	'	$2,000	$28,000	'	'	'

NOTE_12_SUBSEQUENT_EVENTS_Deta

NOTE 12 - SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended	6 Months Ended
	Sep. 15, 2013	Jun. 30, 2013	Sep. 29, 2013	Apr. 18, 2012
Subsequent Events [Abstract]	'	'	'	'
Business Acquisition, Percentage of Voting Interests Acquired	70.00%	'	70.00%	70.00%
Gain (Loss) on Disposition of Assets	$423,324	($12,853)	'	'
Stock Options, Value, Cancellation of Options	$3,000,000	'	'	'
Stock Options, Options, Cancellation of Options	1,017,000	'	'	'