IO Was $12 only 10 years ago, i'm not sure what their costs were...

IO Was $12 only 10 years ago, i'm not sure what their costs were back then but i'd imagine they were similiar, if anything costs have probably lowered with scale, so I don't really understand it either how it was so low only a short time ago.. if break even is $40? Thanks for the info plough on yearly contract price vs. sold now, not really sure if its a good or bad thing though? MGX was one of my first mining shares too I think around 2005 I have bought and sold them a few times over the years now and always made a good profit off them, hopefully can keep that going.

Back then iron was not sold spot , it was sold on a yearly contract price determined by BHP Brazil and RIO