Ragusa to Acquire 60% of Pegasus Tel and Purple Pansy Project for US$195K
Ragusa Minerals has signed a binding agreement to acquire a 60% controlling interest in Pegasus Tel Inc., gaining access to the Purple Pansy Manganese-Gold Project in Arizona, a critical mineral asset aligned with US government priorities.
- Binding Heads of Agreement to acquire 60.09% of Pegasus Tel Inc.
- Purple Pansy Project located in Arizona’s strategic manganese district
- Manganese classified as a US critical mineral with no domestic production
- Strong federal support and proximity to major battery manufacturing hubs
- Ragusa’s ongoing review of additional strategic mineral opportunities
Strategic Acquisition in the US Critical Minerals Space
Ragusa Minerals Limited (ASX, RAS) has taken a significant step into the US critical minerals market by executing a binding Heads of Agreement to acquire a controlling 60.09% interest in Pegasus Tel Inc. This move grants Ragusa access to the Purple Pansy Manganese-Gold Project, situated in the historically rich Aguila Mining District of Arizona. The project is notable for its manganese and gold mineralisation, with manganese being a mineral of strategic importance to the United States.
The Purple Pansy Project stands out due to its location near the Wenden Manganese Stockpile and within a region receiving heightened federal attention. The US currently imports 100% of its manganese, a critical mineral essential for national defence, steelmaking, and battery technologies. This acquisition positions Ragusa to benefit from strong government initiatives aimed at developing domestic supply chains for critical minerals.
Federal Backing and Regional Synergies
Arizona is rapidly emerging as a hub for battery and energy storage manufacturing, hosting major facilities such as LG Energy Solution’s $5.5 billion battery complex in Phoenix and other lithium and battery gigafactories. This regional demand creates a compelling backdrop for the Purple Pansy Project’s development potential.
Moreover, the US government’s support is evident through funding for projects like South32’s Hermosa Project, which also focuses on manganese. The Purple Pansy Project’s proximity to these initiatives and its location in a mining-friendly jurisdiction enhance its strategic value. Ragusa plans to undertake exploration, feasibility studies, and development activities, leveraging the expertise of key partners including Red Beryl Mining Company and Steven Cyros, who bring valuable operational and technical experience.
Broader Growth and Financial Position
Alongside this acquisition, Ragusa continues to evaluate additional strategic mineral projects, maintaining a focus on precious and critical minerals. The company also reported a recent capital raise of $427,200 and holds cash reserves of approximately $431,000 as of September 2025, providing a modest but solid financial foundation for its planned activities.
While the transaction is subject to customary conditions and regulatory approvals, completion is anticipated by late December 2025. Ragusa’s move into the US critical minerals sector reflects a broader trend of Australian miners seeking exposure to high-demand minerals in geopolitically significant regions.
Bottom Line?
Ragusa’s acquisition could mark the start of a pivotal expansion into US critical minerals, but success hinges on navigating regulatory hurdles and proving project economics.
Questions in the middle?
- Will Ragusa secure the necessary approvals and complete the acquisition by year-end?
- How will exploration results at Purple Pansy influence project development timelines?
- What additional strategic mineral projects might Ragusa pursue next?
