Applied Minerals Inc (fka AMNLQ)

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The SEC Form 4 filing of IBS Capital, LLC reports an extremely interesting development.
They reported that they had purchased 2,000,000 shares of ALMI at an average price of about $0.92 on or after 10/09/07. The total paid for the 2,000,000 shares was near $1,845,000.
They had beneficially owned 7,926,182 ALMI shares prior to this purchase. At that time they owned over 10% of the outstanding shares of the Atlas Mining Company. They now own over 17% of the Company shares - 9,426,182 of 54,170,000 shares.