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Ragusa Minerals Ltd (ASX:RAS)

ALERT: Price-sensitive ASX Announcement for RAS
Current share price for RAS : $0.027 -0.011 (-28.95%)+
Announcement
Release
29 Oct 2025 8:20AM
Price at Release
$0.038
Full Release
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Summary
Ragusa Minerals Limited announced the execution of a binding Heads of Agreement to acquire a 60.09% controlling interest in Pegasus Tel Inc., which will enable Pegasus to acquire a 100% interest in the Purple Pansy Manganese-Gold Project in Arizona, USA. This initiative aims to leverage the strategic importance of manganese, a critical mineral for the U.S., particularly for national defense and battery manufacturing. The project is strategically positioned to benefit from U.S. government initiatives supporting domestic critical mineral development. The acquisition aligns with Ragusa's strategy to expand its footprint in the U.S. critical minerals sector, creating long-term value for its shareholders.
Key Points
  • Ragusa Minerals to acquire 60.09% of Pegasus Tel Inc.
  • Pegasus to acquire 100% of the Purple Pansy Project
  • Project located in Arizona, USA, focuses on manganese and gold
  • Manganese is a U.S.-designated strategic and critical mineral
  • No active manganese mining currently in the U.S.; 100% import reliance
  • Potential to benefit from U.S. government critical mineral initiatives
  • Strategic location near the U.S. Government’s Wenden Manganese Stockpile
  • Alignment with U.S. priorities for domestic supply chain security
  • Opportunities for partnerships in Arizona's growing battery manufacturing sector
  • Ragusa's transaction formalizes strategic relationships with project vendors
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.