From what i have gathered from company the split off of assets...

From what i have gathered from company the split off of assets is happening because the sum of the parts is worth more than the whole.
Currently the cash the company holds is not worth a $1 in the $1. That is the driving reason for the split.
From other splits i've been involved in, shareholders keep the exisiting shareholding in the original company ie GBE. Shareholders are then "issued" shares in the new entity at no cost. That entity then needs to float and in the process may raise further funds to continue proving up the projects, hence the reasons why shareholders may wish to purchase in the new company. They would be purchasing additional shares in the new entity.
THe existing GBE niobium project will continue and retain its cash to progress, and make it simpler for financiers to finance the project and not be concerned with funds being diverted for other purposes.
With the Mt Muambe project increasing in value and more exploration required, this is going to use up funds really designed to go to Kanyika.
I also recall in the early days part of the funds Rasied from ECE called for the search for a new substantial project. WE have not heard any word on this, but i think everyone would agree that it is a very good time to have cash and be looking to buy a good advanced project and a really competitive price.
Just my thoughts. I for one think the split is a great idea, but the devil will be in the detail. Hopefully that will come shortly.