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Filing Details

Accession Number:: 0000911916-16-000598
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-06-28 16:14:16
Reporting Period:: 2016-06-24

Filing Date:: 2016-06-28
Accepted Time:: 2016-06-28 16:14:16
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
8328	Applied Minerals Inc.	AMNL	Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)	820096527

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1414860	Ibs Capital Llc	One International Place, 31St Floor Boston MA 02110	No	No	Yes	No
1415021	Partnership) Ltd (A (Qp) Fund Turnaround Ibs	One International Place, 31St Floor Boston MA 02110	No	No	Yes	No
1448562	A David Taft	One International Place, 31St Floor Boston MA 02110	Yes	No	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2016-06-24	1,333,334	$0.15	23,983,734	No	4	P	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnote

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrant (Right to Buy)	Acquisiton	2016-06-24	1,333,334	$0.00	1,333,334	$0.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,333,334	2016-06-24	2021-06-24	No	4	P	Indirect

Footnotes

This Form 4 is being filed on behalf of IBS Capital LLC ("IBS Capital"), The IBS Turnaround Fund (QP) (A Limited Partnership) (the "QP Fund"), and David A. Taft (IBS Capital, the QP Fund and David A. Taft are each a "Reporting Person" and collectively the "Reporting Persons"), each of which has the same business address and may have a pecuniary interest in the securities reported herein. IBS Capital is the general partner of QP Fund and The IBS Turnaround Fund, L.P. (the "LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. (the "Opportunity Fund") (the QP Fund, the LP Fund and the Opportunity Fund are hereinafter referred to as the "IBS Capital Funds"). David A. Taft is a director of Applied Minerals, Inc. (the "Issuer") and president and a member of IBS Capital.
On June 24, 2016, Issuer entered into Investment Agreements for the sale of units at $.15 per unit ("Unit"). Each Unit consisted of one share of Common Stock ("Share") and one five-year warrant to purchase 0.3 of a Share ("Warrant"). 3.33 Warrants can be exercised to acquire one Share for a total exercise price of $0.25. Units were acquired by the IBS Capital Funds as follows: (i) 815,000 Units were acquired by QP Fund, (ii) 415,000 Units were acquired by LP Fund and (iii) 103,334 Units were acquired by Opportunity Fund.
Beneficial ownership is allocated as follows: (i) 15,220,583 Shares are directly beneficially owned by QP Fund, (ii) 7,290,997 Shares are directly beneficially owned by LP Fund and (iii) 1,472,154 Shares are directly beneficially owned by Opportunity Fund.
The Reporting Persons each disclaim any beneficial ownership of the securities except to the extent of any pecuniary interest.