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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
8328	Applied Minerals Inc.	AMNL	Gold And Silver Ores (1040)	820096527

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1414860	Ibs Capital Llc	One International Place 31St Floor Boston MA 02110		Yes	No	Yes	No
1415021	Partnership) Ltd (A (Qp) Fund Turnaround Ibs	One International Place 31St Floor Boston MA 02110		Yes	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2012-09-28	7,900	$1.29	22,331,153	No	4	S	Indirect	See notes 1,2 and 3
Common Stock	Disposition	2012-09-28	410,000	$1.24	22,331,153	No	4	S	Indirect	See notes 1, 2 and 3
Common Stock	Acquisiton	2012-09-28	410,000	$1.24	22,331,153	No	4	A	Indirect	See notes 1, 2 and 3

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See notes 1,2 and 3
No	4	S	Indirect	See notes 1, 2 and 3
No	4	A	Indirect	See notes 1, 2 and 3

Footnotes

IBS Capital LLC ("IBS Capital") is the general partner of The IBS Turnaround Fund (QP) (A Limited Partnership) ("QP Fund") and The IBS Turnaround Fund (A Limited Partnership) ("LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, LTD ("Opportunity Fund").
On September 28, 2012, QP Fund sole 7,900 shares of ANML Common Stock in the open market and sold 410,000 shares of ANML Common Stock to LP Fund. After completion of these transactions, IBS Capital indirectly beneficially owned 22,331,153 shares of AMNL Common Stock, which consisted of (i) 12,306,847 shares of AMNL Common Stock directly beneficially owned by QP Fund, (ii) 6,102,712 shares of AMNL Common Stock directly beneficially owned by LP Fund and (iii) 3,921,594 shares of AMNL Common Stock directly beneficially owned by Opportunity Fund.
The reported securities are directly beneficially owned by QP Fund, LP Fund and/or Opportunity Fund. The reporting persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.