X0202 3 2006-10-04 0 0000008328 ATLAS MINING CO ALMI 0001332440 IBS Capital CORP ONE INTERNATIONAL PLACE SUITE 2401 BOSTON MA 02110 0 0 1 0 Common Stock 5429700 I See Note 1. The reporting person is the general partner of The IBS Turnaround Fund (QP)(A Limited Partnership), which holds 3,470,926 shares, and IBS Turnaround Fund (A Limited Partnership), which holds 1,246,497 shares. The reporting person is the Investment Manager of The IBS Opportunity Fund (BVI), Ltd., which holds 712,277 shares. IBS Capital Corporation, by David A. Taft, President 2006-10-16