Ann: Maiden Resource Estimates Offshore Angola, page-17

Follow up

"Again using your model, you use 6 billion shares on issue. In reality RedSky has 5,422,227,197 shares on issue as of April 4, 2025. What does that do to your calculation given production proceeds?"

ChatGPT said:

Memory Updated

Perfect — thanks for the exact figure. Let’s plug 5,422,227,197 shares on issue into the post-production valuation model and recalculate the per-share impact.

Updated Post-Production Valuation

• Unrisked NPV (from previous model) = AUD 134.2 million

• Shares on issue = 5,422,227,197

Per Share Value Increase=134,200,0005,422,227,197≈AUD 0.02475\text{Per Share Value Increase} = \frac{134,200,000}{5,422,227,197} ≈ \text{AUD } 0.02475Per Share Value Increase=5,422,227,197134,200,000≈AUD 0.02475

✅ Updated Share Price Impact: ≈ 2.48 cents

Revised Share Price Range (Post-Production)

	Scenario	Market Cap Gain	Per Share Value (5.42B shares)
1	Conservative Profit	AUD 100M	1.84 cents
2	Full NPV (no risk)	AUD 134.2M	2.48 cents
3	Upside Case	AUD 150M+	2.77+ cents

Summary

Using the real 5.42 billion shares on issue, Red Sky’s share price could rise to approximately 2.48 cents per share once the resource enters production and the project is fully de-risked — a meaningful uplift from current levels (if trading below that).