Highlights

  • Ragusa Minerals Shares climbed 10% to AUD 0.033, extending the stock's impressive 65% gain over the past year.
  • Company appointed capital markets expert Petar Tomasevic to the Board to leverage his deep North American resource network.
  • Initiating geophysical surveys at the Black Rock mine (Arizona) to map out high-grade manganese oxide targets.
  • The PTEL transaction is nearing completion following the confirmation of its OTCID Basic Market status.
  • Positioning to tackle the 100% U.S. import reliance on manganese, a vital mineral for defense and EV batteries.

Ragusa Minerals Limited (ASX:RAS) shares surged 10% to AUD 0.033 on 13 April 2026 as the market responded with high conviction to the latest corporate update. Investors appear to be factoring in the dual-track progress of the company: a significant tightening of its corporate structure through a key board appointment and the rapid advancement of its U.S.-based critical minerals strategy. With the stock currently maintaining a 65% gain over the past year, Ragusa is successfully transitioning from a strategic explorer to a well-funded developer targeting essential supply chains in the United States.

About Ragusa Minerals Limited

Ragusa Minerals Limited is an Australian-based explorer with a sharp focus on the high-demand critical minerals sector. The company’s primary strategic objective is the development of the Purple Pansy Manganese-Gold Project located in Arizona, USA. By securing an approximately 60% controlling interest in Pegasus Tel Inc. (OTC: PTEL), Ragusa has established a significant foothold in the North American mining jurisdiction.

The company’s management team is characterized by a "data-driven" approach to exploration, prioritizing assets with clear historical evidence of mineralization and proximity to existing infrastructure. Ragusa’s mission is to leverage its technical and commercial acumen to maximize shareholder value through the development of assets that are critical to the global energy transition and national security, particularly within the U.S. domestic market.

Strengthening the Board for U.S. Ambitions

A key driver of today’s positive sentiment is the appointment of Mr. Petar Tomasevic as a Non-Executive Director. Mr. Tomasevic is a highly regarded capital markets professional with a specialized focus on funding international resource projects. Notably, his current role as a Director of American Uranium Limited provides him with deep, hands-on experience in the North American resource landscape—a perfect fit for Ragusa’s Arizona-based operations.

His appointment is expected to strengthen Ragusa’s network among international institutional investors. As the company moves toward more intensive exploration and development phases, having a director with a proven track record in project management and capital raising is a significant strategic advantage. Simultaneously, Melanie Ross has resigned from the board but will maintain her vital role as Company Secretary, ensuring corporate continuity.

Purple Pansy: Tackling a 100% Import Gap

The Purple Pansy Manganese-Gold Project is emerging as a "walk-up" target for the company. Following a successful site visit that confirmed massive manganese oxide at the historic Black Rock mine, Ragusa is now engaging geophysical consultants. The goal is to deploy advanced survey methods to map out the mineralization area, which will then dictate the selection of high-priority drill sites.

The strategic timing of this project cannot be overstated. Currently, the United States has zero active manganese mining operations and is entirely dependent on foreign imports. Manganese is a critical component in:

  • Steel Production: Essential for infrastructure and defense.
  • Battery Technology: A vital element in the cathode chemistry of lithium-ion batteries.

Given its status as a federally designated "critical mineral," Ragusa is positioning Purple Pansy to benefit from U.S. government initiatives aimed at rebuilding domestic supply chains and reducing foreign reliance.

PTEL Transaction: The Final Hurdles

Ragusa’s acquisition of a ~60.09% interest in Pegasus Tel, Inc. (OTC: PTEL) is now entering its final stages. A major regulatory milestone was reached this quarter as PTEL successfully met the requirements for "OTCID Basic Market" status. This compliance confirmation from OTC Markets allows Ragusa to move forward with the final "Conditions Precedent" of the binding Heads of Agreement.

The completion of this transaction, expected shortly, will formalize Ragusa’s control over the vehicle holding the Purple Pansy interests, providing a clear corporate structure for the upcoming exploration works in Arizona.

What This Means for Investors?

The 10% jump in share price reflects a market that is increasingly appreciative of Ragusa's "right place, right time" strategy. By aligning its exploration efforts with the U.S. national priority for domestic manganese, Ragusa has de-risked its project from a demand perspective.

The combination of a strengthened board, a compliant U.S. corporate vehicle, and a high-grade manganese target at Black Rock creates a compelling narrative. As the company progresses toward drilling in the second half of 2026, investors will likely focus on the results of the upcoming geophysical surveys as the next major valuation catalyst.