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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
1448562	A David Taft	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	2014-03-31	787,000	$0.69	22,331,153	No	5	S	Indirect	See notes 1, 2, and 3
Common Stock	Acquisiton	2014-03-31	635,473	$0.69	22,331,153	No	5	P	Indirect	See notes 1, 2, and 3
Common Stock	Acquisiton	2014-03-31	151,527	$0.69	22,331,153	No	5	P	Indirect	See notes 1, 2, and 3

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	5	S	Indirect	See notes 1, 2, and 3
No	5	P	Indirect	See notes 1, 2, and 3
No	5	P	Indirect	See notes 1, 2, and 3

Footnotes

The reporting person is the president and a member of IBS Capital LLC ("IBS Capital"), which 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 March 31, 2014 Opportunity Fund sold 635,473 shares of AMNL Common Stock to QP Fund and 151,527 shares of AMNL 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) 12,942,320 shares of AMNL Common Stock directly beneficially owned by QP Fund (ii) 6,254,239 shares of AMNL Common Stock directly beneficially owned by LP Fund and (iii) 3,134,594 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 person disclaims beneficial ownership of the reported securities except to the extent of any pecuniary interest therein.