Ann: Quarterly Report - March 2018, page-168

You're forgetting to factor in the demand side of the equation.

Rookie error.

More spod coming online and brine ramping up.... so what.
Did you see those 2016 production forecasts from 2012? Forecasts versus actuals? Laughable. You don't just buy more shovels or dig more ponds. It's only the processed carbonate or hydroxide that dents the demand.

Exponential demand growth is going to be a force to be reckoned with. Dozens and dozens more mines will be needed in the next 10 years to transition to EVs, even if full penetration takes 20-30 more years.

Broker downgrades? Have we not learnt from their silly little games? hint - they are not looking out for your best interests.

Good luck.