X0202 3 2007-09-28 0 0000008328 ATLAS MINING CO ALMI 0001414860 IBS CAPITAL LLC ONE INTERNATIONAL PLACE SUITE 2401 BOSTON MA 02110 0 0 1 0 Common Stock 7426182 I See Note 1. The reporting person is the general partner of (i) The IBS Turnaround (QP) Fund (A Limited Partnership), which holds 4,790,926 shares, and (ii) the IBS Turnaround Fund (A Limited Partnership), which holds 1,607,979 shares. The reporting person is the Investment Manager of The IBS Opportunity Fund (BVI), Ltd., which holds 1,027,277 shares. IBS Captial LLC, by David A. Taft, Manager 2007-10-11