an example; value of a prospective tenement, page-14

Yes, it can go down more, or can go up significantly as it came down. You should be careful about it.

The paper value of stock price is too low now as some guys are pushing it down to demoralize REY shareholders and especially REY management.

It is the paper value for the existing shareholders as long as they don't sell. But it has a real value for the buyers at this price which is a great value, and a real value again for those who sell at this low price just because they are demoralized IMO.

I am buying the risk. I bought at 7.3c, then 6.5c, then 4.9c today, will be buying more as much as I can. Averaging down as low as possible. I think this cheap price will not hurt me at all.

I am happy to buy up to 7.5c for now as I have a strong confidence about REY management now as they have responded to Gujarat and Buru in the way they should.

I am fully supporting REY management now.

I am also confident about the REY's 10% share will be valued more than $150m in one or two years time. I have the intention of holding those EY shares for years as it is too cheap to buy now. (Thinking about huge capital gain taxes for the long run as well)

But these are my thoughts and opinions, please do your own and make your risk assessment.