Applied Minerals Inc (fka AMNLQ)

[hgault]

If I read that correctly, IBS Capital just bought another 2 million shares (at a very good price relative to where ALMI has been trading lately). In that they already own 6 or 8 million shares, it would appear to me that they have confidence in the company.

I have to admit that I feel a bit betrayed by the recent action with this stock. While I haven't lost any money ($0.20 average share price), I was hoping that I had invested in a small but honest and well run company. I now must watch more carefully.

For the record, I am a geologist and did visit the mine site, enough to convince myself that they were actively mining. My concerns were related to slope stability, not reserves. In other words the old pit walls didn't look safe to me. I was happy that they were not trying open pit mining, and also happy that Atlas Fawcett was involved. I have always wondered how they were going to separate the nanotubes from the non nanotubes...