Replies to post #4780 on 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...

[wald]

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.