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Joewolf,
I think it is nowhere near its bottom.

Soda Ash manufacture is a heavy industry that needs the backing of a financially strong company. An undercapitalised participant with no financial store to weather storms is very precarious.

In my opinion PSH is probably in a death spiral. This is because it has used up all its debt capacity. That debt capacity is related to its market cap which is now much reduced.

Its other source of funding is equity which has been badly burnt by the price fall to date.

PSH is cash flow negative. It is in a capital intensive industry. When it needs cash it will now have two alternatives.

Sell the Angaston quarry and pay through the nose for limestone or do a massively dilutive share issue. Either way is just buying time.

Regards
Bacci