fmg not so sure anymore?

FMG has done well to become the 4th largest iron ore miner...Unfortunately they are a higher cost miner, some say US$114 is the margin, b/c of their lower grades....FMG was going gangbusters to increase production to 155 mtpa in coming years eventhough oversupply....FMG highly leviridged and according to media reports SPP on cards....I have bought into FMG on couple occassions and jumped off a month ago!....They need to step back, the world is changing, increase production when stockpiles are short, not when they are overflowing....
I think there has also been funny business with Chinese Traders and pushing prices lower....
My opinion FMG will survive, but it will be a leaner machine....FMG reminds me a bit like Babcock and Brown during GFC...the darling at the time, then hit the wall....FMG's fate is hope prices recover shortly and sell assets reduce debt and remain a 55 mtpa operation at this point....Good luck to all that hold!