X0202 4 2007-10-11 0 0000008328 ATLAS MINING CO ALMI 0001414860 IBS CAPITAL LLC ONE INTERNATIONAL PLACE SUITE 2401 BOSTON MA 02110 0 0 1 0 0001415021 IBS TURNAROUND FUND (QP) (A LTD PARTNERSHIP) ONE INTERNATIONAL PLACE STE 2410 BOSTON MA 02110 0 0 1 0 Common Stock 2007-10-11 4 P 0 400 .75 A 9426582 I See Note 1. IBS Capital LLC is the general partner of (i) The IBS Turnaround (QP) Fund (A Limited Partnership), which holds 6,088,771 shares, and (ii) The IBS Turnaround Fund (A Limited Partnership), which holds 2,067,162 shares. IBS Capital LLC is the Investment Manager of The IBS Opportunity Fund (BVI), Ltd., which holds 1,270,649 shares. The 400 shares purchased on October 11, 2007 were purchased by The IBS Turnaround (QP) Fund (A Limited Partnership). IBS Capital LLC, by David A. Taft, Manager 2007-10-15 IBS TURNAROUND FUND (QP) (A LTD PARTNERSHIP) By IBC Capital LLC, David A. Taft, Manager, Its General Partner 2007-10-15