I always find this subject, and the machinations that ensue when one is launched, very difficult to fully understand. Many companies institute a shareholder rights plan that appears to put existing shareholders in a commanding position in the event of a hostile takeover. The process puts the bidder at a disadvantage through the sheer numbers of cheap shares that are created and then placed in the hands of all but the bidder. I don't believe ECU has any such plan in place but other small miners do.

In any case, the May 14/08 notice of meeting to shareholders says that no holder then owned more than 10% of ECU's voting shares. I assume that if someone tried to "steal" the company they would have to put the offer to a vote which would result in the offer being rejected unless it was attractive to those holding a majority of votes. At least, I hope that is the case.