Iron ore bullish as Chinese futures surge, page-162

I think the spike was generated by three events.
1. the IO price rose from the ashes of approx $38 to $62.00/t ( wet I think)
2. a debt for equity deal was struck and a huge amount of debt retired as part of that.
This averted the almost certain demise of AGO.
3. AGO got their wet t production costs down to the low $50/t and it became obvious that they were profitable again instead of selling at a loss.

I think my facts are generally correct but specifically, probably slightly incorrect.