So there is no point to discuss the original question under this thread (see details https://hotcopper.com.au/threads/fmg-profitability-when-io-at-50-60usd.6367889/?post_id=56994812 ), as the reality clearly shows that the specified price range has not happened in the last 5 years and with a high probability it will not happen in the next 5 years too.
Totally wrong. The IO price fell below $55 in June 2017. It briefly fell below $40 in December 2015.
https://tradingeconomics.com/commodity/iron-ore
So there is no point to discuss the original question under this...
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