Ragusa Minerals has appointed a new director with North American expertise, is gearing up for geophysical surveys at its Purple Pansy manganese-gold project, and is close to completing its acquisition of Pegasus Tel Inc.
- Appointment of Petar Tomasevic as Non-Executive Director
- Next phase exploration planning at Purple Pansy targets historic Black Rock manganese mine
- Pegasus Tel Inc. transaction nearing completion with OTC Markets approval
- Focus on critical manganese mineralisation amid US supply chain concerns
- Melanie Ross resigns from board but remains Company Secretary
New Board Appointment Brings US Resource Market Expertise
Ragusa Minerals Limited (ASX:RAS) has strengthened its board with the immediate appointment of Petar Tomasevic as Non-Executive Director. Tomasevic, a seasoned capital markets professional and former Olympian, brings a wealth of international funding experience and investor connections, particularly in North America. His current role at American Uranium Limited, which holds US uranium assets, aligns well with Ragusa’s strategic ambitions in the United States. This move coincides with the resignation of Melanie Ross from the board, although she will continue as Company Secretary.
Purple Pansy Exploration Targets Walk-Up Manganese Opportunity
Following a recent site visit confirming high-grade manganese oxide mineralisation, Ragusa is preparing for the next exploration phase at the Purple Pansy Manganese-Gold Project in Arizona. The company plans a geophysical survey focused on the historic Black Rock manganese open cut mine, where extensive manganese oxide was observed along the southern highwall. This site offers a rare walk-up target with exposed mineralisation, a significant advantage given the absence of active manganese mines in the US.
Manganese is a federally designated critical mineral in the US, essential for energy and defence sectors, with the country currently 100% reliant on imports. Ragusa’s project is well positioned to benefit from government initiatives aimed at bolstering domestic supply chains. The company is engaging geophysical consultants to refine survey methods and identify drill targets, continuing a systematic exploration approach that builds on earlier findings from the Purple Pansy site visit that confirmed high-grade manganese oxide mineralisation and base metals presence Purple Pansy high-grade manganese.
Pegasus Tel Inc. Acquisition Nears Completion
Ragusa is on the cusp of completing its acquisition of approximately 60.09% of Pegasus Tel Inc. (OTC: PTEL). The transaction has progressed following PTEL’s confirmation of OTCID Basic Market status by OTC Markets, meeting key regulatory requirements. Ragusa is now addressing outstanding conditions precedent to finalise the deal, expected imminently. This acquisition underpins Ragusa’s control of the Purple Pansy Project and expands its foothold in the US critical minerals sector.
Chair Jerko Zuvela highlighted the strategic significance of these developments, noting the opportunity to build a project with scale and long-term value potential. The board welcomes Tomasevic’s expertise and acknowledges Ross’s contributions during her tenure.
Bottom Line?
Ragusa’s near-term focus on geophysical surveys and PTEL acquisition completion will be key to unlocking the Purple Pansy Project’s potential amid rising US critical minerals demand.
Questions in the middle?
- How will the new board dynamics influence Ragusa’s US expansion strategy?
- What geophysical survey methods will best delineate manganese targets at Black Rock?
- What timeline and conditions remain for the finalisation of the Pegasus Tel Inc. acquisition?