how to use the $750mill, page-14

If they return the money then there will be no growth opportunity full stop. The share price will be hit hard as many growth options and a lot of safety will be removed.

In the current uncertain environment a good dose of prudence is required and that's what they are doing.
Getting a plumb asset with minimal risk will require a lot of patience, something some posters on here lack.

I am prepared to wait as long as it takes to get the right asset.

A good proportion of the share price decline is because of the lower production forecast and the uncertainty around the world and little or nothing to do with the company not spending the war chest.