where has the $3 million dollars gone ???

I have owned this stock for some time and followed with interest the change of board and management.
After reading the other posts I see there is growing concern about the abilities of the Board and management and if they are going to do anything (Assuming they were capable).
All I have seen is glossy presentations about strategy and then endless rehashing of what they are going to do.
A question to Wolfgang and Nathan before the share price is 10 cents is "Please let us know what you have achieved and not might do"
after raising over $4M last year the new management has spent over $3M according to the last quarterly, yet there has been no change in any resource at all despite a discovery of hematite almost a year ago.
Clearly with limited cash further funds are needed.
Who and why would anyone want to invest when this team is unable to deliver any material benefits to the company with last $3M.
They have been very successful in halving the share price since they took over costing shareholders in excess of $12M.
Is it time for a new board and management ? IMO yes !
I for one will not be investing in any rights issue or SPP with this current team in place.