X0203 3 2008-10-17 0 0000008328 ATLAS MINING CO ALMI 0001448562 TAFT DAVID A ONE INTERNATIONAL PLACE STE 2401 BOSTON MA 02110 1 0 0 0 Common Stock 13972415 I See Notes 1 and 2. The reporting person is a member and the president of IBS Capital LLC, which is the general partner of The IBS Turnaround Fund (QP)(A Limited Partnership) and The IBS Turnaround Fund (A Limited Partnership). IBS Capital LLC is the investment adviser of The IBS Opportunity Fund (BVI), Ltd. The reported securities are directly owned by The IBS Turnaround Fund (QP)(A Limited Partnership), The IBS Turnaround Fund(A Limited Partnership), and The IBS Opportunity Fund (BVI), Ltd. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. David A. Taft 2008-10-27