We present the results of field- and temperature-dependent resistivity rho
and magnetization M measurements which show that colossal magnetoresistance
in semimetallic EuB6 is not associated with its bulk Curie temperature T-C
=12.6 K, determined by a scaling analysis of M(H,T), but with a second phas
e transition at T-M=15.5 K. We propose that metallization occurs at T-M via
the overlap of magnetic polarons. The separation of the charge delocalizat
ion and bulk magnetic ordering transitions implies electronic and magnetic
phase separation.