Chinese traders tip iron ore to hit $US70, page-111

fmg is safest - approx $20/t of their all in sustaining cost is interest and principal.

so all it takes is a credit restructure and they are at $50/t all in - probably with dilution of preference shares issued to former debt holders. so share price would still take a whack - but its the last one standing if things really go pear shaped for long enough

mgx cash on hand is being rapidly eaten through the koolgan island outlays - has a less attractive product and production profile

best leverage/highest risk is AGO

best leverage/lower risk - hard to say - BCI could presumably mothball everything they get in the merger and just go on as is basis then wheel it all out again a few years hence if price recovers.

personally i wont be buying anything til i think market has seen impact of the extra 70M BHP tonnes in December.

may already be in but im not sure

the price action then will tell you what market thinks is risky/not so risky.