To know how the Chinese think, I talked to some Chinese business friends of mine. All of them are definitely sure Hanglong is dead serious about buying Sundance. They are truly amazed at the fertile imaginations of different people. The Chinese look long term and it does not bother them too much what is happening short term.
They need iron ore and they want Sundance as a way out of the grip lock of BHP/RIO.
If you are HL, of course, you would be accumulating more shares at this prices. Whether they are manipulating or not, I am not sure. But if shareholders are willing to sell at these prices, they will definitely be buying them.
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