How will Arcadium decide?, page-3

I think they need to do their sums on if its cheaper to build more brine expansions or just buy back shares in the company. I would say at the current share price its line ball as the market cap of the company is approx what the replacement cost of all the assets are in todays dollars.

The issue is that we are still have commited capex spend at SDV and Namaska, I'm guessing about $3-400M, the remaining cash ~$500M is available for either buy backs or further expansion. This would put JB on hold and Mt Catlin on care and maintenance.

If the share price drops another 20-30% from here, then I think buy backs are definitely the better option.

Also this is a worst case scenario, we are still profitable at $13k carbonate prices, I've estimated at least $250M a year net profit after tax, so we also have this cash coming in each year as well.