X0303 4 2008-06-27 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 2008-06-27 4 P 0 2000000 0.5 A 12272415 I See Note 1. IBS Capital LLC is the general partner of (i) The IBS Turnaround (QP) Fund (A Limited Partnership), which holds 8,215,938 shares, and (ii) The IBS Turnaround Fund (A Limited Partnership), which holds 2,756,202 shares. IBS Capital LLC is the Investment Manager of The IBS Opportunity Fund (BVI), Ltd., which holds 1,300,275 shares. The 2,000,000 shares purchased on June 27, 2008 were purchased as follows: (i) 1,538,685 shares were purchased by The IBS Turnaround (QP) Fund (A Limited Partnership) and (ii) 461,315 shares were purchased by the The IBS Turnaround Fund (A Limited Partnership). IBS Capital LLC, by David A. Taft, Manager 2008-07-01 IBS TURNAROUND FUND (QP) (A LTD PARTNERSHIP) By IBS Capital LLC, Its General Partner, David A. Taft, Manager 2008-07-01