Hi All. I'm trying to get my head around a re entry to GRR but...

Hi All. I'm trying to get my head around a re entry to GRR but am struggling. But there's a lot of people on this forum very positive. Can one of you please give me the case for buying using finances not emotion?

Here is the case against. Last quarterly the company had a unit operating cost per tonne of AUD162 which is roughly USD110. And the price they received was about USD110. So at a time of high iron ore prices they are barely making any money. That means when (not if) a downturn hits and iron ore goes back to USD50 which history says it will at some point the company is in trouble and can only hang on if it's cash reserves outlast the downturn. For me that's too high a risk to invest my superannuation in. Despite the obvious upside if the iron ore price jumps to USD200 which history says it will also do one day.
The company is well run and I want to buy back in. But to me those numbers are not strong enough. Please give me your counter views to consider on why I should invest in Grange.