Alchemy Resources (ASX: ALY) – focus on Eastern Goldfields

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
		No creditable project and the lithium hope was only hinged on nearology

ABOUT COMPANY

Alchemy Resources (ALY) (http://alchemyresources.com.au/) explores gold and lithium in Australia. The company’s flagships are the Karonie Gold and Lithium Project and the Lake Rebecca gold project. In addition, it formed two JV in the Bryah Basin, and owns an interest in the Lachlan Fold Belt in New South Wales.

ALY Alchemy Resources projects location

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
ALY	0.008	1178076256		9424610.048	5/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
2575	39.8%	44.31%	5.98%		last raise $5.5m@2.5c; pre raise $3.08m@1.1c

NST holds 11.62%.

The percentage of the top 20 has depleted fast over the past two years.

FLAGSHIP ASSETS

Lake Rebecca Gold Project WA (top)

Karonie Gold Lithium Project Kalgoorlie WA (bottom)

East Kalgoorlie - Lake Rebecca - Gold - NST, Gold Fields, SLR, RMS, BC8, LEX, BRB, SLS

Project Data

The company has given up its gold exploration, and currently focuses its effort on applying GL1’s lithium nearology, but nothing has found yet.

OTHER ASSETS

NSW Projects

Bryah Basin Project(20%)

The Superior Gold JV contains a JORC 2012 compliant resource of 2.2Mt @ 1.6g/t for 114,000oz Au at the Hermes South deposit. The refining work is ongoing.

Bryah Basin - Copper & Gold - SFR, WGX

SUMMARY

The company plans to do what BNR has been doing, which was keeping picking rock samples. I doubt this will support its market cap for long. But it completed a reasonable round of cap raise in October 2022.