At what IO price is MGX unsustainable? I can just never get past...

At what IO price is MGX unsustainable? I can just never get past this chart on the IO Price:

http://www.indexmundi.com/commodities/?commodity=iron-ore&months=360

Over the very long term IO hovered around $12, with a high of $15!  (i'm trying to find chart that goes further than 30 years) but people worry that the price might go down to $40.. that is still expensive, it is very realistic that the price will go back to its long term average around $12.. even though people will say 'this time its different etc.' That chart stopped me from investing in IO companies several times in the past even on the way up. I have a position in MGX solely based on its cash position. I hope they see the situation as a perfect opportunity to get out of IO.