Alchemy Resources

What Alchemy Resources does

Alchemy Resources Limited (ASX:ALY) is an Australian mineral exploration company focused on discovering and developing gold, base metal, and nickel-cobalt resources across Western Australia and New South Wales. Founded in 2007 and headquartered in Perth, the company operates a portfolio-based exploration model spanning six core projects: the Karonie Gold Project and Lake Rebecca Gold Project in WA's Eastern Goldfields (both 100% owned), the Bryah Basin JV in WA (20% free-carried alongside Sandfire Resources and Superior Gold), the Cobar/Lachlan Fold Belt portfolio in NSW (80% interest earned from Heron Resources), and the West Lynn Ni-Co-alumina and Woodsreef projects in NSW (80%). The company controls 915km² of granted exploration tenements plus 265km² under application, with declared JORC 2012 inferred resources including 185,700oz Au at Karonie, 21.3Mt at 0.84% Ni / 0.05% Co at West Lynn, 6.6Mt at 20.8% Al2O₃ at Summervale, and 114,000oz at 1.6g/t Au at Hermes South (Alchemy 20%, JV basis).

The company's underlying technology centres on conventional mineral exploration methods — RC drilling, aircore drilling, diamond drilling, geophysical surveys (induced polarisation and electromagnetics), and geological mapping — supplemented by the proprietary patented DNi Process for nickel-cobalt extraction, a nitric acid leach process with >95% acid recycling, potential MgO fertiliser by-product, and benign tailings. Alchemy is pre-revenue and generates no operating income; its economic model relies on joint venture and farm-in structures to externalise exploration capital, with major partners (Sandfire, Superior Gold, Heron) funding the bulk of drilling and development. Value realisation is expected through either mine development or sale of mineral discoveries, with equity funding raised through ASX-listed capital raises (AUD $3.1M in October 2021 and AUD $2.55M in October 2022) used to acquire and advance tenements.

Leadership comprises Non-Executive Chairman Lindsay Dudfield (geologist, 40+ years experience, co-founder of Jindalee Lithium and Energy Metals), CEO James Wilson (geologist and former Argonaut Securities Senior Research Analyst), Non-Executive Director Liza Carpene (former Northern Star executive team member during its growth to a >$3.5B ASX100 company), Non-Executive Director Anthony Ho (Chartered Accountant), and Company Secretary Carly Terzanidis. The company is publicly listed on the Australian Securities Exchange and employs between 1 and 10 people.

Name

Alchemy Resources

Legal name

Alchemy Resources Limited

Website

https://alchemyresources.com.au

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Alchemy Resources Limited (ASX:ALY) is a pre-revenue Australian mineral exploration company advancing a portfolio of gold, base metal, and nickel-cobalt projects across Western Australia and New South Wales, operating primarily through joint ventures with major mining partners.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industry

Copper Exploration & Resource Development (IMAKADAA)

Keywords

• Gold exploration
• Base metals exploration
• Nickel-cobalt mining
• Mineral resource development
• JORC resource exploration

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels1 record

Marketing channels5 records

Core offering

Alchemy Resources Limited is a pre-revenue Australian mineral exploration company that identifies, acquires, and advances gold, base metal (copper, zinc, lead), and nickel-cobalt exploration projects in Western Australia and New South Wales. The company holds a portfolio of exploration tenements and joint venture interests across the Eastern Goldfields, Bryah Basin, Cobar Basin, Lachlan Fold Belt, and the New England Fold Belt, with the aim of discovering JORC-compliant mineral resources that can be advanced to mining or monetised through sale or joint venture.

Product overview

Alchemy Resources Limited (ASX:ALY) is an Australian gold, base metal, and nickel-cobalt exploration company offering a portfolio of mineral exploration projects rather than a unified software product. The company's offerings consist of exploration projects at various stages of development: (1) Karonie Gold Project in WA (100% owned, 111,100oz JORC resource), (2) Lake Rebecca Gold Project in WA (100% owned, 482km2 under application), (3) Bryah Basin Project in WA (20% free-carried joint venture interest with Sandfire and Superior Gold), (4) Cobar Basin/Lachlan Fold Belt portfolio in NSW (80% interest including Overflow, Yellow Mountain, Eurow, and Girilambone projects), (5) West Lynn Nickel-Cobalt-Alumina Project in NSW (JORC inferred resources of 21.3Mt Ni-Co and 6.6Mt alumina), and (6) Woodsreef Ni-Co-Cu-Au Project in NSW. The company also provides investor communication products including annual and quarterly reports. Projects are focused on gold, base metals (copper, zinc, lead), nickel-cobalt, and alumina mineralisation in Western Australia and New South Wales.

Differentiator

Problem solved

Functional benefit

Products and services

• Karonie Gold Project (WA) 100%-owned gold exploration project in the Eastern Goldfields of Western Australia, 90km east of Kalgoorlie. Covers over 1,200km2 of Archaean greenstones with 90km of prospective strike, containing a maiden JORC 2012 inferred resource of 111,100oz @ 1.2g/t Au.
• Lake Rebecca Gold Project (WA) 100%-owned gold exploration project covering 482km2 in the Eastern Goldfields of Western Australia, 10km southeast of the Carosue Dam 5.4Moz deposit and 6km west of the Rebecca, Duchess and Duke deposits.
• Bryah Basin Project (WA) Gold and base metal exploration project comprising a 527km2 ground package in the Bryah Basin region of Western Australia. Alchemy retains a 20% free-carried interest in joint ventures with Sandfire Resources NL (base metals) and Superior Gold Inc. (gold), plus a 1% Net Smelter Royalty over 20,000oz of gold beyond 70,000oz production from the Hermes Deposit.
• Cobar Basin / Lachlan Fold Belt Projects (NSW) Portfolio of gold and base metal exploration projects covering 674km2 in the central Lachlan Fold Belt, NSW, in which Alchemy has earned an 80% interest. Includes Overflow Gold-Base Metal Project, Yellow Mountain Gold-Base Metal Project, Eurow Copper-Gold Project, and Girilambone Copper Project.
• West Lynn Nickel-Cobalt-Alumina Project (NSW) Nickel-cobalt-alumina project containing JORC 2012 inferred resources of 21.3Mt @ 0.84% Ni, 0.05% Co, 2.4% Al, 20.0% Fe, plus a Summervale prospect inferred alumina resource of 6.6Mt @ 20.8% Al2O3. Located 12km from Nyngan township in NSW within an ultramafic belt hosting significant Ni-Co resources.
• Woodsreef Nickel-Cobalt-Copper-Gold Project (NSW) Exploration licence application covering 281km2 located 35km north of Tamworth, NSW, within the New England Fold Belt. Encompasses a 34km long section of the Peel Fault, targeting vein-hosted orogenic gold, copper mineralisation, cobalt, chromite, platinoid, and nickel sulphide targets.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Heron Resources Ltd (ASX:HRR)coreStrategic or Co-development PartnerFarm-in agreement where Alchemy has earned an 80% interest in gold and base metal projects covering 674 km2 in the Lachlan Fold Belt, NSW. Projects include Overflow Gold-Base Metal Project, Yellow Mountain Gold-Base Metal Project, Eurow Copper-Gold Project, and Girilambone Copper Project.
• Sandfire Resources NL (ASX:SFR)coreStrategic or Co-development PartnerBryah Basin Joint Venture - Sandfire earned 70-80% interest by spending approximately $8.9M. Alchemy retains 20% interest free carried to production, then 20% share of costs repaid from 50% of Alchemy's share of profit. Sandfire exploring for copper-gold VMS deposits along strike from De Grussa mine. Alchemy has re-acquired 100% of base metal rights to Sandfire JV ground.
• Superior Gold Inc. (TSX-V:SGI)coreStrategic or Co-development PartnerBryah Basin Gold Joint Venture - Superior has earned 80% interest in Alchemy tenements. Alchemy is carried on interest-free deferred basis to production, repaying deferred amount at 50% of free cash flow. JV contains Hermes South deposit (114Koz @ 1.6g/t Au). Alchemy also retains 1% NSR on 20,000oz beyond 70,000oz of gold production from Hermes.
• Catalyst Metals (Plutonic Gold Mine owners)minorOthersCatalyst Metals is ramping up activities in the Bryah Basin area near the Hermes South deposit, creating potential for advancing Hermes South to production phase.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Musgrave Minerals Limited: ASX-listed gold explorer with projects in Western Australia's Eastern Goldfields (incl. near Cue). Comparable junior gold focus in WA with similar district-scale land position strategy.
• Helix Resources Limited: ASX-listed copper-gold explorer with projects across NSW including the Cobar Basin. Directly comparable Lachlan/Cobar Basin Cu-Au exposure to Alchemy's NSW tenements.
• De Grey Mining Limited: ASX-listed gold explorer/developer with the Hemi discovery in the Pilbara/regional WA. Comparable WA gold exposure profile, though materially more advanced and larger.
• Kingfisher Mining Limited: ASX-listed junior gold explorer with landholdings in WA. Comparable small-cap pre-revenue gold explorer with multi-project WA portfolio.
• Cobalt Blue Holdings Limited: ASX-listed explorer-developer advancing the Broken Hill Cobalt Project (NSW), focused on cobalt-nickel-pyrite resources. Closely comparable critical/battery minerals development story in NSW adjacent to Alchemy's West Lynn project.
• Caravel Minerals Limited: ASX-listed copper developer with assets in WA's Wheatbelt/Mid-West. Comparable Perth-based junior exploring for base metals (Cu-Au) in Western Australia.
• Bryah Resources Limited: ASX-listed explorer also focused on the Bryah Basin in WA, with gold and base-metal projects overlapping Alchemy's JV tenements. Directly comparable junior explorer in the same copper-gold belt near De Grussa.

Broad incumbents

• Ramelius Resources Limited: Mid-tier ASX gold producer operating multiple mines in WA. Provides broader industry context for what a successful WA gold explorer can become; not a direct competitor but reflects the regional production base Alchemy targets.
• Northern Star Resources Limited: ASX-listed gold producer (ASX100, >$3.5B historic market cap context) operating the Carosue Dam mill near Alchemy's Karonie and Lake Rebecca projects. Regional incumbent controlling nearby processing infrastructure relevant to Alchemy's eventual toll or development options.

Emerging players

• Mitre Mining Corporation: ASX-listed junior gold-copper explorer with assets in NSW's Lachlan Fold Belt. Comparable emerging exploration-stage peer targeting polymetallic discoveries in the same NSW geological setting.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/alchemistsltd
• LinkedInlinkedin.com/company/alchemy-resources-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alchemy Resources