I doubt this would go to $1 anytime soon. The EPS model for this...

I doubt this would go to $1 anytime soon. The EPS model for this is extremely volitile. Not enough confidence after a flash crash of the iron ore spot market in September 2012.

Check out my estimated EPS at the following spot prices:

$110: $0.016
$120: $0.041
$130: $0.065
$140: $0.089
$150: $0.113
$160: $0.138

Most brokers speculated a $120 per tonne iron ore price. Hence the $0.25 to $0.30 price prediction based on a 7 PE. We need the spot price to hold for a few months. Ideally we want > $130 per tonne.