Ann: Entitlement Offer to raise up to $8 million, page-109

I agree Bene449 with your assessment that ECE's voting against the remuneration report was likely due to their dissatisfaction with board representation. They have been doing this for many years, which suggests that it is a matter of principle for them.
The fact that they are not participating in the capital raising also suggests that they still want to sell their stake in the company. This is understandable, given the delays that the project has experienced.
If ECE sells their remaining shares to Apollo, then Apollo will control a significant portion of the company. This could lead to Apollo delisting the company from the ASX, as they may not see the value in maintaining a public listing.The delays in the project are a major concern, and it is understandable that you are hesitant to invest further.
However, niobium is a key resource, and the project has the potential to be very successful. If the delays are resolved, and the project is able to move forward, then it could be a good investment.
Only time will tell how things will play out for ECE. However, I think your analysis is sound, and I would be cautious about investing in the company at this time.
Here are some additional thoughts on the matter:
The delays in the project have been caused by a number of factors, including the need for environmental approvals and the relocation of indigenous people.
The project is still in the early stages of development, and there is no guarantee that it will be successful.
Apollo is a private investment firm, and their plans for the project are not yet known.
Overall, the future of ECE is uncertain. However, the potential rewards are significant, so it is worth keeping an eye on the company GLTAH