So Gemcorp need to buy another 30% from an available 40% float....

So Gemcorp need to buy another 30% from an available 40% float.
Three possibilities:
-My sense is that at 0.16, given it is such a good deal, they might waive the 50% condition. They obviously already have a large holding and they will make it bigger. They can always come back later with another bid.
-Gemcorp increasing the price to attract more sellers.
-Another bid to come through.
Whatever happens, a short-term floor at 0.16 seems likely.