ece revised to 40.5 cents, page-12

cudeco1,

If ECE did change their offer as a result of the valuation by expert parties which have been paid by GBE then that would be a clear breach of the continuous disclosure rules. The company has a clear obligation to provide such information to the market to ensure that trading occurs on an informed basis. Disclosing the content of said report to ECE but not to shareholders would be the last straw for these guys.

GBE is worth dramatically more than ECE is offering. Look back at the low ball offer they made for 51% of LYC. LYC has increased in value by more than 600% since that deal got canned. A measly 18% increase in a rediculously low offer for GBE is far from impressive and the market seems to agree.

I still reckon we are being robbed. If they want control they should make a proper taekover offer as per Australian takeover rules. The share price was higher before this stupid backdoor takeover offer and the resources are being upgraded as we speak, not to mention the REE prices. If the resources are there then we can raise capital, that is not a problem. Why do we entertain this rediculous offer which has reduced the value of every shareholder, capped the share price for many months and threatens to disenfranchise all shareholders of future value and all voting rights. Whats in it for us ..... nothing. No wonder nobody wants to buy our shares.

Kill the offer. Do a small rights issue to raise some cash to complete the work required to value the resource and then evaluate the best options going forward. Many people have held way too long to be forced to hand over the majority of their holding and all of their voting rights for bugger all. didn't realise that we were all that desparate.