ece revised to 40.5 cents, page-15

I have followed GBE since 2008 and believe me I'm more than disappointed by Mark's behaviour being our CEO.
To understand how undervalued GBE is you can just go back to May 2007, when an institutional investor (a big one) paid .88$ per share. At this time there was no Kanyika project, no positive scoping, no metallurgical testing, no REE project ...
More than 2.5 years ago a positive scoping study was released which was based on very low metal prices. A NPV of 200mA$ (after tax) was calculated.
Over the next months and years thousands of drilling meters have been added to the project. The project parameters have been constantly upgraded and a constant stream of information have been provided by management. Three MOU for pre-sales have been negotiated, Mark went to a 10-day trip to China in 2009 to discuss off-take agreements, new projects have been started.
Last but not least the comodity prices has been raised significantly BUT from one day to another Mark's information policy regarding the Kanyika project changed from 100 to zero. Very poor updates of the BFS, no comodity pricing updates, a ridicolous update of the financial model fpr Kanyika with almost the same NPV despite prices hikes, a more favourable mining model and a much better investment climate and rising demand from China.
In my opinion the decision to sell the company to ECE has been born in early 2010. Further I'm convinced the pricing of the private placement to ECE was a strategic move. I mean that Mark and ECE set the price at .345$ in order to frustrate shareholders and to buy out potantial opponents of the company's take over offer. The current rise of the share price doesn't hurt the "generous" ECE mgt. that much and Mark is our hero for re-negotiating the placement price.
I will vote against the deal but I fear that it passes the EGM in early April. Good news is that everyone who believes in the company is able to buy shares well below the "take-over" price and may reduce dilution.