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Alchemy Resources Limited ( (AU:ALY) ) has shared an update.
Alchemy Resources Limited has commenced reverse circulation drilling at its Valley Bore Iron Ore Project in Western Australia. The drilling program, consisting of up to 15 holes, aims to explore high-grade iron ore mineralization and is expected to enhance the project’s potential as a Direct Shipping Ore site. The project is further strengthened by a partnership with Newcam Minerals, which can earn a 60% interest in Alchemy’s iron ore assets, while Alchemy retains a 40% interest.
More about Alchemy Resources Limited
Alchemy Resources Limited is a company operating in the mining industry, focusing on the exploration and development of mineral resources. Its primary products include iron ore, with a specific market focus on high-grade iron ore projects in Western Australia.
Average Trading Volume: 6,078,815
Technical Sentiment Signal: Sell
Current Market Cap: A$9.5M
Learn more about ALY stock on TipRanks’ Stock Analysis page.