anatol,Noticed the slow down in selling this afternoon also.Had...

anatol,

Noticed the slow down in selling this afternoon also.

Had no choice but to buy some at these prices.

Taking into account that ASF Group paid $0.12 a share just last month for 22.7% of the company, I felt there was a decent enough margin of safety at $0.05 or 140% discount.

My thoughts are that Buru's deal with Gujarat included Gujarat selling all their shares to push the price down as much as possible, and then Buru making a takeover bid for Rey.

Only problem with this scenario is that I don't think the ASF Group would accept anything under $0.15 minimum, and for that matter I don't think you would either.

I feel that Rey is currently in a win win situation.

Possible outcomes are:

1) Buru takeover bid has to be $0.15+ to be successful.

2) Buru cuts a deal with Rey. ( Most Likely )

3) Current deal proceeds as is for 10% free carry.

Cheers, and have a good weekend.