rxp buy recommendation, page-35

The first half was disappointing.Looking at the presentation at the lower end if they can hit the EBITDA of $8.9 million the EPS will be around 5.5c or slightly lower given issues since 1/1/14.So if it drifts lower it will be trading under 10.It might drift a bit lower under tax selling.The risk for reward becomes greater as it drifts lower.The risk is the forecast but its in black and white until told otherwise.