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RAS 
Ragusa Minerals LTD 
ASX

Quarterly Activities Report - March 2025

Sentiment:
 Quarterly Activities Report
 27 April 2025 6:29 PM

Ragusa Minerals (ASX: RAS) announces the acquisition of Geopolymer Industries, a review of the Burracoppin Project for kaolin development, and a capital raising to fund these activities.

Capital raise
  Ragusa will conduct a placement of fully paid ordinary shares to raise up to $2,002,000 (before costs) via the issue of up to 91,000,000 shares (Placement) at $0.022per share.  Tranche 1 will comprise the issue of 13,650,000 Shares at 2.2 cents per share, raising $300,300 (before costs), to be issued under the Company's available placement capacity under ASX Listing Rule 7.1.  Tranche 2 will comprise the issue of approximately 77,350,000 Shares at 2.2 cents per share, raising $1,701,700 (before costs), following receipt of Ragusa shareholder approval at a general meeting. 

Summary
  • Ragusa Minerals Limited (ASX: RAS) has announced a binding agreement to acquire 100% ownership of Geopolymer Industries Pty Ltd.
  • Geopolymer holds interests in the Gabbin Project (Western Australia) and the Oakland Project (New South Wales).
  • The acquisition is aimed at leveraging Geopolymer's technology for low-emission cement in the building and construction industries.
  • Ragusa plans to conduct exploration, feasibility, and development activities, primarily focusing on the Gabbin Project.
  • The acquisition is subject to conditions, including due diligence, a $2 million capital raising, and shareholder approval.
  • Ragusa will issue 35,000,000 fully paid ordinary shares and 127,500,000 performance rights to Geopolymer shareholders as consideration.
  • A placement of shares will raise up to $2,002,000 at $0.022 per share to fund the acquisition and project activities.
  • The company is reviewing the Burracoppin Project for kaolin development opportunities.
  • Ragusa had cash reserves of approximately $127,000 as of March 31, 2025.
  • Exploration and evaluation costs for the quarter amounted to approximately $8,000.
  • Related party expenditures totaled $42,240, including director fees and consulting services.
Sentiment

Score: 7

Explanation: The announcement is generally positive, highlighting a strategic acquisition and capital raising. However, the relatively low cash reserves and dependence on successful capital raising introduce some uncertainty.

Positives
  • The acquisition of Geopolymer Industries provides Ragusa with high-quality projects and a strategic development opportunity.
  • The transaction aligns with Ragusa's growth strategy, targeting the low-emission cement market.
  • The capital raising will provide funds to finalize the Geopolymer acquisition and fund exploration activities.
  • The review of the Burracoppin Project could lead to new development opportunities for kaolin.
  • The company has an experienced board and management team.
Negatives
  • The acquisition is subject to several conditions precedent, including shareholder approval and successful capital raising, which introduces uncertainty.
  • The company's cash reserves are relatively low at approximately $127,000 as of March 31, 2025.
  • The company will need to raise capital to complete the acquisition.
Risks
  • Failure to meet the conditions precedent for the Geopolymer acquisition could jeopardize the transaction.
  • The capital raising may not be fully subscribed, potentially impacting the company's ability to fund its activities.
  • Exploration and development activities may not yield the expected results.
  • Market conditions and competition in the low-emission cement market could impact the success of the Geopolymer projects.
Future Outlook

Ragusa plans to complete the Geopolymer acquisition, conduct exploration and feasibility activities at Geopolymer's Projects and Burracoppin Project, and use funds for corporate and general working capital requirements.

Management Comments
  • This announcement has been authorised by Jerko Zuvela, the Company's Chair.
Industry Context

The acquisition of Geopolymer Industries reflects a growing interest in sustainable and low-emission building materials within the construction industry, aligning with global trends towards environmentally friendly practices.

Comparison to Industry Standards
  • Ragusa's move into geopolymer technology positions it to compete with companies like Wagners, which produces Earth Friendly Concrete (EFC), a low-carbon alternative to traditional concrete.
  • The capital raising of approximately $2 million is relatively small compared to larger mining companies, but it is significant for a company of Ragusa's size and stage of development.
  • The focus on kaolin development at the Burracoppin Project aligns with the increasing demand for kaolin in various industrial applications, similar to projects being pursued by companies like Andromeda Metals.
Stakeholder Impact
  • Shareholders: Potential for increased value through strategic acquisition and project development.
  • Employees: Potential for new opportunities and growth within the company.
  • Customers: Access to innovative and environmentally friendly cement products.
  • Suppliers: Potential for increased business through project development.
  • Creditors: Increased financial stability through capital raising.
Next Steps
  • Finalize the Geopolymer acquisition, including due diligence and shareholder approval.
  • Complete the capital raising.
  • Conduct exploration and feasibility activities at Geopolymer's Projects and Burracoppin Project.
  • Determine the strategy for the NT Lithium Project.
Key Dates
  • March 14, 2025: Reference date for the 4.7% premium to the Company's share price for the placement.
  • March 31, 2025: Date of the company's cash reserves update.
  • First half of CY2025: Expected completion of the HoA.
Keywords
Geopolymer Industries, Ragusa Minerals, Acquisition, Kaolin, Capital Raising, Exploration, Gabbin Project, Oakland Project, Burracoppin Project, Lithium
RAS 
Ragusa Minerals LTD 
ASX
Sector: Materials
 
Filings with Classifications
Capital raise
26 June 2025 6:28 PM
Capital Raise Announcement
  • The document details an immediate capital raise of $427,200 through a placement to sophisticated investors.
Worse than expected
11 June 2025 8:54 PM
Company Update
  • The Binding Heads of Agreement with Geopolymer Industries Pty Ltd was terminated due to the inability to satisfy conditions precedent, which is a negative outcome for the Company.
Capital raise
27 April 2025 6:29 PM
Quarterly Activities Report
  • Ragusa will conduct a placement of fully paid ordinary shares to raise up to $2,002,000 (before costs) via the issue of up to 91,000,000 shares (Placement) at $0.022per share.
  • Tranche 1 will comprise the issue of 13,650,000 Shares at 2.2 cents per share, raising $300,300 (before costs), to be issued under the Company's available placement capacity under ASX Listing Rule 7.1.
  • Tranche 2 will comprise the issue of approximately 77,350,000 Shares at 2.2 cents per share, raising $1,701,700 (before costs), following receipt of Ragusa shareholder approval at a general meeting.
Capital raise
27 April 2025 6:29 PM
Quarterly Cash Flow Report
  • The Company announced it will conduct a placement of fully paid ordinary shares to raise up to $2m (before costs).
  • Funds raised from the placement will enable the Company to fund a new asset acquisition and current operations.
Worse than expected
28 October 2024 3:07 AM
Quarterly Cash Flow Report
  • The company experienced a significant decrease in cash and cash equivalents during the quarter, indicating worse than expected financial performance.
Capital raise
28 October 2024 3:07 AM
Quarterly Cash Flow Report
  • The company is considering its options with regards to raising additional funds.
  • The company believes it would be successful in raising sufficient funds to continue with the planned level of operations.
Capital raise
24 October 2024 10:37 PM
Annual General Meeting Notice
  • Resolution 3 seeks shareholder approval for a 7.1A mandate, allowing the company to issue up to an additional 10% of its issued capital.
  • Funds raised under the 7.1A mandate will be used for acquisitions, exploration, business development, and working capital.
Capital raise
9 September 2024 4:39 AM
Annual Report
  • The Group’s ongoing activities may require substantial further financing in the future.
  • The Company will require additional funding to continue its exploration and evaluation operations on its projects with the aim to identify economically mineable reserves and resources.
  • Any additional equity financing may be dilutive to shareholders, may be undertaken at lower prices than the current market price and debt financing, if available, and may involve restrictive covenants which limit the Group’s operations and business strategy.
Capital raise
30 July 2024 6:12 PM
Quarterly Cash Flow Report
  • The company plans to raise further cash to fund its operations.
  • The capital raising may be combined with new asset or project acquisitions.
Worse than expected
30 July 2024 6:12 PM
Quarterly Cash Flow Report
  • The company's cash reserves have decreased significantly from the previous quarter.
  • The company has negative operating cash flow and relies on capital raising to continue operations.
  • The company only has 1.49 quarters of funding available.
Worse than expected
29 April 2024 6:56 PM
Quarterly Cash Flow Report
  • The company's cash reserves have decreased, and the estimated quarters of funding available is less than 2, indicating a worsening financial position.
Capital raise
29 April 2024 6:56 PM
Quarterly Cash Flow Report
  • The entity may need to raise further cash to fund its operations.
  • The document does not specify the details of the capital raise.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.