If that pricing is true, and I don't think it is, then the person was probably investing in a product sought as a resale opportunity.
1,000 rounds of 7.62x39 for $119 turns out to be less than $0.12 per round. This time last year, a 700 tin of surplus I bought locally cost $175 before taxes. Certainly large volume purchases receive discounts, but in this economy those 60,000 rounds can easily be turned out at gun shows for $0.35-$0.45 per round. Even on that lower end, you're looking at $21,000 in sales. And yes, there are plenty of people who have $6,600 sitting around looking for a sound investment opportunity, and one like this that requires nearly zero work on your behalf as a reseller, just sit there and look pretty at your table, making a $14,400 profit over the course of a month or two, pretty sound and pretty sane.
But I don't believe those numbers. 60,000 is a lot for us as shooters, but is not a lot in the grand scheme of the shooting populace. With hordes of people eating up 1-2 thousand bulk purchases as soon as they pop up for sale, I believe I could even turn 60,000 over in a few weeks online. So I can't imagine anyone selling bulk packs so severely discounted when it'd be more profitable to retail it directly, or wholesale it out at 2008 retail prices without breaking a sweat.