Ann: Placement to Fund Expanded Appraisal and Exploration Program, page-65

Cashew,
As the poster above stated, you could have bought below 33 yourself very recently. Your choice.

The company would not have got $50 mm from existing holders at 33. Of that I am almost certain. Who wants to see the sp devastated for fairness? And then the worse dilution for any not able to take up their proportion?

Life is not fair, but imho the company has done this in a manner most valuable to the bulk of existing shareholders.

Perhaps if you still want more, you might find this a buying opportunity, albeit probably not quite as cheap as the big end of town.
EL