FMG Profitability when IO at $50-60USD?, page-62

Hi irynka.
I am typing on my phone travelling and am a technology clutz so I cannot give you a link. But if you google iron ore price chart there are plenty of charts that come up showing the data. IO went below USD50 around the end of 2015 and start of 2016. Remember the quoted price is for 62% Fe and FMG's product is 58% Fe so FMG was getting a lower price again it could easily have dipped into the $30s for FMG I am not sure.
During this period FMG was in debt and in trouble.
Given this IO price history it is wise to assume the same could happen again. FMG is better placed now to withstand this sort of downturn. It's balance sheet is stronger and soon IBO will give higher grade product bringing a price premium.
I am a bull on FMG I think it is grossly underpriced. I bought more FMG shares last week. But despite being a bull I am not blind to the risks. Iron ore is cyclical. The top of the cycle is about USD200 and the bottom is about USD50. We are likely to see both prices again.