Stock price when the opinion was issued
If you believe that the iron price doesn't fall further, then a pretty decent buy here. For those who believe in his natural resource thesis over 5 years, you have to own it. Need to pay attention to the global economy, but especially the Chinese economy.
He's less concerned about 20% fluctuations in the stock price over time, and more concerned about long-term value and the sustainability of the dividend.
It's trading as if iron ore were at $60, so the stock is overly discounted. Pays a huge 7.2% dividend, which pays you a lot alone. Upside is ahead.