INVESTMENTS

6 Months Ended

Jun. 30, 2012

Investments, All Other Investments [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, 2012.

	Number of Shares		Cost Basis		Fair Value (Level 1 Inputs)
Security
Consolidated Goldfields*		111,657	$	13,732	$	39,080
Hecla Mining		200		1,760		950
Merger Mines Corp		4,700		705		564
Metropolitan Mines, Ltd		35,850		6,453		4,302
Mineral Mountain Mining and Milling Co*		19,947		8,378		1,995
New Jersey Mining Company		20,000		4,200		2,220
PM Pan Minerals		3,050,000		-		-
Shoshone Silver / Gold Mining*		500,000		91,840		37,500
Thunder Mountain Gold		523,535		88,602		25,679
			$	215,670	$	112,290

* Related parties, see Note 11

The fair value of securities is determined by quoted market prices. At June 30, 2012, total unrealized gains are $25,348 and total unrealized losses are $128,728. For investments in an unrealized loss position, management has the intent and the ability to hold these investments until they can be sold at cost or at a gain.

Independence Resources PLC 10-Q/A