zijin can't be the ones pumping the stock up, because as you point out, they already have 20%. If they want anymore, they need to pay overs with a t/o offer. As per prior XAM presos, change of control in XAM requires a post-deal offer from Zijin, subject to XAM shareholder approval. Sounds loke Zijin not getting this one on the cheap, if they want it. Plus what makes this all interesting, thst Zijin is not just a miner', but smelter too. All copper smelters are hungry for good quality copper concentrate to feed their smelters atm, and with XAM main asset close neighbouring Zijin smelters, suspect they'd like it all.
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