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An announcement from Ragusa Minerals Ltd ( (AU:RAS) ) is now available.
Ragusa Minerals has secured firm commitments from sophisticated investors and key existing shareholders for a $600,000 private placement at $0.03 per share, a discount to its recent volume-weighted average prices, issuing up to 20 million new shares under existing placement capacities. The funds will be used to advance priority exploration work at the company’s Purple Pansy manganese-gold project in Arizona, evaluate potential new project acquisitions, and provide general working capital, signalling continued shareholder support and reinforcing Ragusa’s focus on building long-term value through its US exploration portfolio.
The most recent analyst rating on (AU:RAS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Ragusa Minerals Ltd stock, see the AU:RAS Stock Forecast page.
More about Ragusa Minerals Ltd
Ragusa Minerals Limited (ASX: RAS) is an Australian resources company with an interest in the Purple Pansy manganese-gold project in Arizona, USA, held via an approximately 60% stake in Pegasus Tel Inc. The company is led by an experienced board and management team with a track record in exploration, operations and corporate development, and pursues a strategy of data-driven, risk-weighted exploration and development to maximise shareholder value.
Average Trading Volume: 352,266
Technical Sentiment Signal: Hold
Current Market Cap: A$5.7M
See more data about RAS stock on TipRanks’ Stock Analysis page.